A value-oriented approach to assessing regional economic development projects
Vol. 13, No 4, 2020
Ruslan Kostiukevych
Department of Management, National University of Water and Environmental Engineering, Ukraine r.m.kostiukevich@nuwm.edu.ua ORCID 0000-0002-6691-2905 |
A value-oriented approach to assessing regional economic development projects |
Leonid Melnyk
Finance and Environmental Economics Department, National University of Water and Environmental Engineering, Ukraine l.v.melnyk@nuwm.edu.ua ORCID 0000-0003-3628-9160 Tomáš Krulický
Institute of Technology and Business in Ceske Budejovice, School of Expertness and Valuation, Ceske Budejovice, Czech Republic krulicky@mail.vstecb.cz ORCID 0000-0002-0378-2699 Alina Kostiukevych
Department of Labour and Entrepreneurship, National University of Water and Environmental Engineering, Ukraine a.m.kostiukevich@nuwm.edu.ua ORCID 0000-0002-9930-9731 Larysa Melnyk
Finance and Environmental Economics Department, National University of Water and Environmental Engineering, Ukraine l.m.melnyk@nuwm.edu.ua ORCID 0000-0003-1731-1860
|
Abstract. Research is aimed at the improvement of methods and tools to assess the portfolio of regional economic development projects basing on the application of the system theory, algorithmic modelling, methods of expert evaluation, decomposition and synthesis. A methodical approach is proposed to establish the cause-and-effect relationships between strategic and operational goals, their results and indicators, underlying the determination of the value of regional economic development projects. The authors’ approach allows to identify shortcomings in the structure of regional economic development projects in order to develop the regional policy. Besides, it made it possible to identify indicators, achievement of which would create the greatest value for achieving the strategy goals – those with higher strategic importance, assessed by integral indicator developed by the authors. This approach can be further used to evaluate regional economic development strategies at the levels of the united territorial communities, cities and regions. The results of assessing the strategic importance of the components of regional (local) economic development strategies should be used by policy makers as methodological approach to improve the economic project portfolio basing on value models of project management. |
Received: October, 2019 1st Revision: October, 2020 Accepted: December, 2020 |
|
DOI: 10.14254/2071-8330.2020/13-4/11
|
|
JEL Classification: O22, R58 |
Keywords: project management, regional economic development, strategy, value-oriented approach |