The IMF's Public Investment Management Assessment (PIMA) framework helps countries evaluate the strength of their PIM practices. The PIMA evaluates 15 institutions that shape decision-making at the three key stages of the public investment cycle:
- Planning sustainable investment across the public sector;
- Allocating investment to the right sectors and projects;
- Implementing projects on time and on budget.
While leaving the structure of the 2015 framework unchanged, the revised PIMA framework highlights some critical governance aspects more prominently. In particular, it brings out more fully some key aspects of maintenance, procurement, independent review of projects, and the enabling environment (e.g., adequacy of the legal framework, information systems, and staff capacity).