Regulations on project viability and assessment methods for construction projects funded with stage capital in Vietnam

Abstract

The article collects the current legal provisions, relevant codes and standards to evaluate the criteria and assessment methods for the viability of construction investment projects using state capital in Vietnam. The research results show that there are 15 criteria specified in these documents. The criteria can be grouped into four groups: financial viability, socio-economic viability, defense and security impact, effectiveness in ensuring national security, viability in sustainable development. The main assessment methods for the project viability using the viability indicators include: comparative method (either between actual results/data collected at the time of evaluation and set goals/plans or between project parameters at the time of evaluation with standard indicators; or a mixture of indicators) or cost-benefit analysis methods, in which the comparative method is the most frequent.

Keywords: Project viability; construction investment projects; assessment method for viability; comparative method; costbenefit analysis.