Valuation of Public Projects for Regional Development: Critical Approach
Public projects for regional development are prepared and implemented in order to create social benefits for society of a particular region – to improve living and working conditions and/or to protect the environment. Every investment option should be evaluated and substantiated before the right investment decision is made. The valuation of public projects is complicated due to complexity of valuation of social benefits for the regional society. Expected impact of public project should effectively satisfy society needs. The methods for public projects’ evaluation should be chosen in critical approach. The aim of this methodological research is highlight the main problems of methods used for evaluation of public projects for regional development. This article provides main characteristic of public projects for regional development, reviews the methods used for evaluation of public projects for regional development, presents problematic questions of public projects’ evaluation raised in scientific literature, provides a summary of the main problems of evaluation methods used for regional development public projects.