EFFICIENCY OF STRATEGIC PUBLIC INVESTMENT MANAGEMENT OF IN THE CONSTRUCTION SECTOR

Abstract

: In the course of the research, positive and negative effects of public investment management in the construction sector of low-income countries have been revealed. The negative effects of public investment management are connected with an insufficient level of public policy effectiveness and institutional capacity. In general, the lack of significant progress in all indicators of the efficiency of public governance for the period 1996‒2020 was noted in low-income countries. The specified determinants of public governance have a negative impact on the ability to effectively manage investment in the process of implementing state projects in the field of construction with the involvement of international organizations in developed countries. The analysis of the efficiency components of the management of investment projects under the leadership of the public sector reveals gaps in the supervision, quality of monitoring and evaluation during the implementation of projects. Such gaps are caused by factors characteristic of low-income countries, namely: 1) little or no progress in implementing the investment budget; 2) management difficulties related to the low level of productivity of public sector personnel, shortage of personnel and the need for their training; 3) cumbersome administrative government procedures; 4) lack of planning of project maintenance processes