Public Institution Evaluation
The Preliminary Feasibility Study of public institution projects (public institution evaluation) is an assessment of the validity of new large-scale projects executed by public institutions and quasi-government branches. By objective assessment of new investment projects leading to fair decision-making, public institution evaluation is conducted with an objective of enhancing investment efficiency and financial soundness of public institutions’ investment projects.
The Public Institution Evaluation was first conducted in 2011 in accordance regulations and laws including the Act on the Management of Public Institutions. In 2016 law and regulation on public institution evaluation strengthened with revision of the Act on the Management of Public Institutions and its enforcement decree along with the Guideline on Preliminary Feasibility Study on Public Institution Projects.
- Role of PIMAC
PIMAC is in charge of conducting the Preliminary Feasibility Study of public institution projects. PIMAC was designated as the specialized agency to conduct the study by the Ministry of Strategy and Finance in accordance to the Detailed Implementation Plan for Preliminary Feasibility Study of Public Institutions Projects.