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Public investment is the key that supports the delivery of public services, connects citizens and businesses to economic opportunities; and can serve as an important catalyst for economic growth. The development of the global economy over the last decade provides lessons for Guyana on the need to strengthen its public investment management system to meet its government policies. Hence, this paper aims to provide a conceptual approach to a procedure for the evaluation of public investment projects, which contributes to the understanding and application of this issue in the public sector of Guyana.