The main elements of the public investment management system

The article examines the key elements of the public investment management system according to the World Bank methodology. The presence of these elements determines the effectiveness of investment projects with the attraction of budgetary funds, the possibility of achieving a beneficial effect from the implementation of public investment. The paper reveals various approaches to the definition of public investment, provides a classification of the effectiveness of budget investment related expenditures used by the Accounts Chamber of the Russian Federation in the audit of investment projects.