Dimension 11.2. Investment project selection
DIMENSION MEASUREMENT GUIDANCE
11.2:1. This dimension assesses the extent to which the project selection process prioritizes investment projects against clearly defined criteria to ensure that selected projects are aligned with government priorities. Rigorous and transparent arrangements for the selection of investment projects aim to strengthen the efficiency and productivity of public investments. The dimension requires that institutions are in place to guide the project selection processes, including a centralized review of major investment project appraisals before projects are included in budget submissions to the legislature. It also requires that governments publish and adhere to standard criteria for project selection.
11.2:2. Standard criteria are a set of formal procedures adopted by government and used for every project
or group of related major investment projects with common characteristics within and across central governmental units. For the purpose of this dimension, prioritization of major investment projects should be performed in accordance with the standard criteria; and for score A, standard criteria need to be publicly available.
11.2:3. The central review of major investment projects is typically carried out by the MoF staff, although in some countries it may be performed by a Ministry of Economy or Planning. The review may also, but not necessarily, include inputs from other experts, before decisions are taken on whether to include projects in the budget. The central review of major investment projects is performed to ensure that major investment projects have been scrutinized in accordance with standard criteria and are affordable as defined by available budgetary resources.
Dimension 11.2. Scoring
|Score||Minimum requirements for scores|
|A||Prior to their inclusion in the budget, all major investment projects are prioritized by a central entity on the basis of published standard criteria for project selection.|
|B||Prior to their inclusion in the budget, most major investment projects are prioritized by a central entity on the basis of standard criteria for project selection.|
|C||Prior to their inclusion in the budget, some of the major investment projects are prioritized by a central entity.|
|D||Performance is less than required for a C score|
Dimension 11.2. Timing, coverage and data requirements
|Time period||Coverage||Data requirements/calculation||Data sources|
|Last completed fiscal year.||CG.||
Pillar Three: Management of Assets and Liabilities