EVALUATION OF PUBLIC PROJECTS IN THE LIGHT OF SUSTAINABILITY

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.