Title Public Investment Management Reference Guide (International Development In Practice)
Author Jay-Hyung Kim, Jonas Arp Fallov, Simon Groom
ISBN 9781464815294
List price USD 45.00
Price outside India Available on Request
Original price
Binding Paperback
No of pages 278
Book size 216 x 279 mm
Publishing year 2020
Original publisher The World Bank
Published in India by .
Exclusive distributors Viva Books Private Limited
Sales territory India, Sri Lanka, Bangladesh, Pakistan, Nepal, .
Status New Arrival
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The Public Investment Management (PIM) Reference Guide aims to convey country experiences and good international practices as a basis for decisions on how to address a country-specific PIM reform agenda. The country references are drawn largely from previous diagnostics and technical assistance reports of the World Bank.

The application of country diagnostics and assessments has revealed a need to address the following issues when undertaking a country reform in PIM:

  • Clarification of the definition and scope of public investment and public investment management
  • Establishment of a sound legal, regulatory, and institutional setting for PIM, making sure it is linked to the budget process
  • Allocation of roles and responsibilities for key players in PIM across government
  • Strengthening of guidance on project preappraisal, appraisal, and selection-prioritization procedures and deepening of project appraisal methodologies
  • Integration of strategic planning, project appraisal selection, and capital budgeting
  • Management of multiyear capital budget allocations and commitments
  • Efforts to address effective implementation, procurement, and monitoring of projects
  • Strengthening of asset management and ex post evaluation
  • Integration of PIM and public-private partnership (PPP) in a unified framework
  • Rationalization and prioritization of the existing PIM project portfolio
  • Development of a PIM database and information technology in the form of a PIM information system.

The PIM Reference Guide does not seek to provide definitive answers or standard guidance for the common PIM issues facing countries. Nor does it seek to provide a detailed template for replication across countries: this would be impossible given the diversity of country situations. Instead, each chapter begins with an overview of the specific reform issue, lists approaches and experiences from different countries, and summarizes the references and good practices to be considered in designing country-specific reform actions.




About the Authors


Chapter 1. Introduction The need for a PIM reference guide • What is in this reference guide • How to use this reference guide • Limits to this reference guide and challenges • Notes • References

Chapter 2. Establishing the Concept and Scope of Public Investment Management Overview • Defining public investment: What is being managed? • Why does public investment need specially designed management arrangements? • Notes • References

Chapter 3. The Legal and Regulatory Framework for PIM Overview • Legal authority for PIM: Tier 1 • Procedural guidelines and methodological guidance: Tiers 2 and 3 • Comparison of country legal and regulatory frameworks • Notes • References

Chapter 4. Allocation of Roles and Responsibilities among Key Players Overview • Options for the allocation of roles and responsibilities • Different approaches to decision rights according to project size, sector, and level of government • Demarcation and coordination when a separate planning ministry (or its equivalent) and finance ministry coexist • Establishing a dedicated PIM unit • Other specific issues in allocation of roles and responsibilities • Notes • References

Chapter 5. Designing the Project Appraisal and Selection System: Quality-at-Entry Processes Overview • Preappraisal • Appraisal • Independent review • Project selection • Notes • References

Chapter 6. Integrating the Strategic Planning, Project, and Budgeting Cycles Overview • Ensuring integration at the strategic planning stage • Ensuring integration at the quality-at-entry stage • Ensuring integration at the capital budgeting stage • Key issues in relation to linkages between strategic planning, quality at entry, and budgeting • Notes • References

Chapter 7. Upgrading Capital Budgeting Practices Some common problems • Estimating a capital baseline • Providing for carryover of unused budget appropriations for capital projects • Introducing multiannual commitment appropriations • Integrating capital and recurrent budgeting • Notes • References

Chapter 8. Project Implementation, Monitoring, and Adjustment Overview • Project implementation arrangements • Monitoring • Project adjustment • Notes • References

Chapter 9. Ex Post Review and Asset Management Overview • Ex post review • Asset registration and management • Notes • References

Chapter 10. Integrating PIM and PPP in a Unified Framework Overview • Why PIM-PPP integration matters • Legal and institutional framework for PIM-PPP integration • Integrated project selection practices for PIM and PPP • Integrated fiscal management for PIM and PPP • Integrated project implementation for PIM and PPP • Notes • References

Chapter 11. Rationalizing a Nonperforming PIM Portfolio Overview • Main features of portfolio rationalization • Steps in preparing and conducting portfolio rationalization • Criteria and benchmarks to identify nonperforming projects • Managing the portfolio rationalization program • Notes • References

Chapter 12. PIM Information Systems: Requirements, Options, and Issues Overview • Conceptual description of PIM information systems • Functional scope of a PIM information system • System design issues and options • System architecture • Planning for implementation of PIM information systems • Notes • References

Appendix A. References for International Guidance on Designing Appraisal Methodologies

Appendix B. Further Issues in Developing an Economic Appraisal Methodology

Appendix C. Examples of Project- and Portfolio-Level Management Support Capabilities Provided by a PIM Information System

Appendix D. Types of Content for a PIM Information System Database




About the Authors:

Jonas Arp Fallov is a senior public sector specialist with the World Bank’s Europe and Central Asia West Region, specializing in public financial management and public investment management. His experience includes leading projects as well as advisory and analytical work in 18 countries as well as long-term assignments in Bangladesh and Indonesia. Mr. Fallov has served as a steering committee member of the PIM Community of Practice. Before joining the World Bank, Mr. Fallov held several positions in the Danish government, including as head of the Ministry of Finance Budget Reform Secretariat, head of the Division for State Accounts and Reporting under the Ministry of Finance, and head of the Budget Division under the Ministry of Environmental Affairs. Mr. Fallov holds master’s degrees in public administration from the Maxwell School of Citizenship and Public Affairs, Syracuse University, and in public managerial economics from Roskilde University.

Simon Groom began his career as an economist working on feasibility studies of public sector transport infrastructure projects, first in the United Kingdom and then internationally. He then became involved in public financial management, focusing on assisting countries such as Albania, Bosnia, and Vietnam to introduce a stronger medium-term perspective and performance orientation to budgeting. Since 2008, he has specialized in advising on public investment management (PIM) reforms, mostly for the World Bank and the International Monetary Fund. This work has involved participating in PIM diagnostic assessments and providing follow-up technical assistance, including drafting of procedures and guidelines and advising on legislative changes. His work in this area has taken him to countries in the European Union (Bulgaria, Cyprus, Ireland, and Romania), Eastern Europe and the South Caucasus (Azerbaijan, Southeast Balkan countries, Belarus, Georgia, Moldova, and Ukraine), and Africa (Botswana, Ethiopia, Ghana, Kenya, Rwanda, Tanzania, and Uganda), as well as to Vietnam. As part of the technical assistance, Mr. Groom has been involved in organizing study visits to the Republic of Korea, Norway, Slovenia, and the United Kingdom. Mr. Groom has a BSc in economics from the London School of Economics and Political Science and an MA in development economics from the University of Sussex.

Jay-Hyung Kim is an adviser in the Governance Global Practice of the World Bank. Since 2012, he has been working in areas of public investment management and public-private partnership (PPP) in various departments and units of the World Bank. He served as co-convenor and steering committee member of the PIM Community of Practice. His country experience includes substantive assignments for advisory and analytical works on Cambodia, Ethiopia, Georgia, Kenya, Mongolia, Romania, Ukraine, Vietnam, and Zimbabwe. Before joining the World Bank, from 2000 to 2003 and from 2006 to 2012, he served as executive director of the PIM/PPP organization of the government of the Republic of Korea, the Public and Private Infrastructure Investment Management Center (PIMAC), which, according to the National Finance Law and the Public Private Partnership Law, is mandated to be responsible for supporting the management and supervision of public and private infrastructure investments of the government. From 2003 to 2005, he was seconded as a senior economist in the Operations Evaluation Department of the World Bank. He has been a fellow of the Korea Development Institute (KDI) since 1994. Dr. Kim holds bachelor’s and master’s degrees in economics from Seoul National University and a PhD in economics from the University of Chicago.

Target Audience:

This book is for the people interested in public investment management.

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