Public Investment Management Reference Guide

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 country-specific PIM reform agendas. 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 project pre-appraisal, appraisal, and selection/prioritization procedural guidance, and deepening project appraisal methodologies • Integration of strategic planning, project appraisal/selection, and capital budgeting • Management of multiyear capital budget allocations and commitments • Ensuring 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 IT in the form of a PIMIS (PIM Information System).
[Washington: 2020]

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