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Evaluation of Public Projects in the Light of Sustainability

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  • Baranauskienė Jurgita

    (Assoc. Prof., Vytautas Magnus University, Agriculture Academy, Lithuania)

Abstract

The Sustainable Development Goals (SDGs) represent a global standard of sustainable development priorities and goals at economic, social, and environmental levels. Public projects contribute to the implementation of the SDGs because their priority is to generate economic and social benefits for society and to preserve the environment. Objective answers about project alternatives can only be obtained by evaluating them from several perspectives and using several indicators rather than a single dominant one, i.e., by applying multi-criteria evaluation methods. The research problem stems from the diversity of impacts of public projects, the complexity of their identification, and the need for their comprehensive evaluation. Research aim: After having analysed the specific characteristics of public projects, to develop a methodology for evaluating them in the light of the SDGs and to empirically test this methodology. Research methods: synthesis of theoretical insights, situation modelling, logical analysis, case study, and multi-criteria evaluation method SAW (Simple Additive Weighting). The main outcome of the research is the development of a methodology for the evaluation of public projects in relation to the implementation of the SDGs, which includes four main steps: analysing the objectives and expected outcomes of the projects under evaluation; identifying the impact of the project on the implementation of the SDGs; determining the significance of the impact of the project on the implementation of the SDGs; and combining the evaluation indicators into a single aggregated indicator. Based on the developed methodology, an empirical study was conducted to evaluate 10 investment ideas of one municipality and to select the most efficient investment option in terms of sustainability.

Suggested Citation

  • Baranauskienė Jurgita, 2024. "Evaluation of Public Projects in the Light of Sustainability," Management Theory and Studies for Rural Business and Infrastructure Development, Sciendo, vol. 46(2), pages 174-182.
    • Handle: RePEc:vrs:mtrbid:v:46:y:2024:i:2:p:174-182:n:1006
    DOI: 10.15544/mts.2024.18
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    References listed on IDEAS

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    1. Damir Juričić & Davor Vašiček & Saša Drezgić, 2020. "Multiple criteria decision analysis of public investment options: application to streetlighting renewal projects," Economic Research-Ekonomska Istraživanja, Taylor & Francis Journals, vol. 33(1), pages 3288-3306, January.
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    3. Florio, Massimo & Morretta, Valentina & Willak, Witold, 2018. "Cost-Benefit Analysis and European Union Cohesion Policy: Economic Versus Financial Returns in Investment Project Appraisal," Journal of Benefit-Cost Analysis, Cambridge University Press, vol. 9(1), pages 147-180, April.
    4. Bardal, Kjersti Granås, 2020. "Contradictory outcomes of cost-benefit analyses – Findings from Norwegian public-investment projects," Research in Transportation Economics, Elsevier, vol. 82(C).
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    More about this item

    Keywords

    public projects; sustainable development goals (SDGs); multi-criteria evaluation methods;
    All these keywords.

    JEL classification:

    • H43 - Public Economics - - Publicly Provided Goods - - - Project Evaluation; Social Discount Rate
    • H54 - Public Economics - - National Government Expenditures and Related Policies - - - Infrastructures

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