A value-oriented approach to assessing regional economic development projects (original) (raw)
Literature review on monitoring and evaluation of projects leading to regional development
Proceedings of the 5th International Conference on Environmental Management, Engineering, Planning & Economics, Mykonos island, Greece, 2015
The evaluation of investment projects leading to regional development is the subject of major importance in decision-making and demonstrates the need for appropriate modeling resulting from the use of the economic criteria. This article presents a critical review of Greek and international literature on the investment strategy at the regional level and the evaluation of its effectiveness. A critical presentation and the result of this analysis leads to a categorization of the different evaluation methodologies and tools. Initially an analysis of a representative collection of investment projects' efficiency indicators and then their implementation is examined in Decision-making on promoting the competitiveness of regions.
Problems connected with evaluation of the process of planned regional development
Netherlands Journal of Agricultural Science, 1970
Evaluation has to be considered as an integral part of the process of planned regional development. It provides the information about the preceding activities necessary to facilitate the steering of future development activities. Evaluation relates to both effects and causes of past developments, and is to be distinguished into several types according to the period in which it is carried out and to the organization responsible for this task. Organizational and socio-psychological aspects of evaluation are discussed in brief. Problems connected with evaluation of the process of planned regional development are manifold. First the area of research covered by evaluation has to be delimitated in clear terms with respect to the national and local level. Further is pointed at the changing foci of evaluation and the different problems it has to face concomitant with the various activities forming part of planned regional development. Finally some of the most pressing methodological problems are analysed, viz the measurability of re sults, the determination of planned and autonomous results, the assignment of effects to specific actions, the implications of the length of the plan period. The authors break a lance for more attention to the methodology of evaluation and wider publication of research reports and studies in this field.
Evaluation of the Portfolio of Regional Development Investment Projects
This report corresponds to the deliverable "Final Report on Evaluation of the Portfolio of Regional Development Investment Projects" under component 2 "Advisory services related to the existing portfolio of investment projects in MRDPA" of the Advisory Services Agreement on "Harmonizing State and EU Funded Projects in Regions" between the Ministry of Regional Development and Public Administration and the International Bank for Reconstruction and Development, signed on May 27, 2014.
Strategy and Coherence of a Program of Regional Development: a Methodology for Synergy Evaluation
www-sre.wu-wien.ac.at
This paper presents a methodology to evaluate both the coherence and the strategic value of a program of regional development. It also shows an empirical application to a real case. Only the basic aspects of the methodology will be presented, those which are focused in the individual valuation of the degree of synergy inherent in the objectives (or actions) between them, using a Delphi technique. A Weights Matrix can be constructed through it according to the degree of synergy assigned to different objectives (actions). Taking as a base this previous matrix and also using the hierarchical conglomerates analysis as a complementary technique, it is possible to set up a ranking of the objectives which serve as a medium to appreciate the strategic value inherent in the proposed programming. Then, the objectives can be differentiated as basic, intermediate, final or independent according with their degree of influence or dependence. The Community Support Framework 1994-1999 for the Spanish objective 1 regions serves as a mean to illustrate the methodological application.
2008
Economic development is essential for the survival of all municipalities in the United States. Economic growth, created through project implementation, brings new capital into municipalities by increasing the tax base. Smaller municipalities often struggle to implement projects that promote economic growth. These municipalities run into problems because they lack resources to hire an economic consultant and capabilities to independently complete the strategic planning process. This thesis describes an easy-to-use and easy-to-implement systematic ten-step approach to project portfolio selection for economic growth within smaller municipalities. The ten-step approach utilizes the scoring method and the Analytical Hierarchy Process as portfolio selection techniques as well as using the Benefit to Cost ratio method for determining the acceptability of public projects. Developed from considerable research in the areas of community development, economic analysis, and project portfolio selection, the ten-step approach takes into account the unique needs, possible limited subject knowledge, and possible technological constraints of these communities. By taking into account these considerations, this process makes it possible for smaller municipalities to independently develop a strategic planning process. The ten-step approach was employed in a case study performed in Vienna, Missouri. The case study involved eight taxpayer-owned projects ranging in budget from three hundred dollars to over one-million dollars. A group of sixteen community members were involved in the application of the ten-step approach. By following the systematic approach, these community members developed a project portfolio for the City of Vienna aimed at promoting economic development.
Innovative Approaches in the System of Regional Development Strategizing
Review of Economics and Finance
Nowadays, the development of effective strategic decisions for the development of the business environment in different areas requires new approaches and tools of strategic management. Among such innovative tools, the authors chose the position of the theory of spiral dynamics developed by Don Beck and Chris Cowan, which was based on the theory of emergent cyclic levels of existence of Clare W. Graves. Of particular relevance is the search for tools in the activities of certain areas, where the active community adopts experience and gains practice, and sometimes financial assistance from international institutions to implement their projects. It is proposed to use benchmarking as a specific methodological tool. The main aim of the study is to highlight the methodological principles of benchmarking in the analysis and formation of strategic directions of regions and search for a methodological tool that would identify not only the model region as an example of best practice in a particular area of strategic development, but also to understand which areas need some improvement to move to a more effective stage of spiral development.
Integrating models for regional development decisions: A policy perspective
The Annals of Regional Science, 2003
This paper develops and demonstrates a combined set of models to capture regional development decision processes. The results of the models are then integrated along with other socio-political factors within a policy relevant decision methodology framework. The Haynes and Dinc (1997) extension of the shift-share model identifies regional industrial sectors for analysis based on their scale, productivity and sources of productivity change. By employing Data Envelopment Analysis (DEA), the e‰ciency of these lead sectors is investigated and the future competitiveness of these sectors is evaluated. By incorporating input-output analysis the impact of inter-sectoral transactions on sectoral e‰ciency is assessed. Since in most cases state economic development planning and implementation processes also involve political judgements, based on the findings of the above models, the study suggests a decision support framework which combines the above mentioned quantitative tools with other qualitative decision factors. An Analytical Hierarchy Process (AHP) is employed as a multi-objective decision making device to integrate the relevant policy components.
This paper proposes that a virtuous circle for the sustainable development of a city or region is achieved through a process whereby proactive and strong leadership and effective institutions enhance the capacity and capability of a place to better use its resource endowments and gain an improved market fit in becoming competitive and being entrepreneurial. It is proposed that the performance of a city or region at a point in time and the path of its economic development over time may be represented by its position in a Regional Competitiveness Performance Cube. The paper proposes a new model framework whereby a city or region's economic development and performance is an outcome dependent on how its resource endowments and market fit as quasi-independent variables are mediated by the interaction between leadership, institutions, and entrepreneurship as intervening variables. The experiences of a number of case study cities from a variety of settings in the US, Europe, Asia and Australia are explored within that framework.
Megaprojects and Regional Development: Pathologies in Project Planning
Regional Studies, 2003
G UNTON T. (2003) Megaprojects and regional development: pathologies in project evaluation, Reg. Studies 37 , 505-519. Post-project assessments are essential for understanding the strengths and weaknesses of regional development planning. Unfortunately, assessments of projects involving private sector participants that compare pre-project forecasts to post-project outcomes are rare because the necessary data are usually not publicly available. This paper helps fill this void in the literature by completing an evaluation that compares pre-project forecasts to post-project outcomes for one of the largest and most comprehensively planned megaprojects ever undertaken in Canada: the Northeast Coal Project (NECP). The evaluation shows that instead of achieving the expected net benefit of Can$0.9 billion (2000 Canadian ),theNECPincurredanetlossofCan), the NECP incurred a net loss of Can),theNECPincurredanetlossofCan2.8 billion. The project also generated less than one-half of expected regional employment and failed to mitigate structural problems in the regional economy. Although project planners had all the information that should have led them to forecast this negative outcome, this information was either ignored or dismissed. The explanation for this seemingly irrational behaviour on the part of project planners is explained by a combination of errors in the evaluation methodology and interest group behaviour in regional resource development. Strategies to reduce the likelihood of these errors in future projects include improvements in evaluation methodology and changes in the institutional structure of project evaluation. G UNTON T. (2003) Des projets de grande envergure et l'aménagement du territoire: des pathologies dans l'évaluation des projets, Reg. Studies 37 , 505-519. Faire le bilan des projets est indispensable à la compréhension des forces et des faiblesses de la politique d'amé nagement du territoire. Malheureusement, rares sont les évaluations des projets nécessitant la participation du secteur privé et qui comparent les prévisions aux résultats parce que, normalement, les données ne sont pas disponibles au public. Cet article cherche à boucher ce trou dans la documentation en faisant une évaluation qui compare les prévisions aux résultats pour l'un des projets de grande envergure les plus détaillés et les plus importants qui n'ont jamais été faits au Canada: le Northeast Coal Project (NECP). L'évaluation laisse voir que le NECP a encouru une perte de 2,8mdsaulieudereˊaliserlabeˊneˊficenettepreˊvuede2,8mds au lieu de ré aliser la bénéfice nette prévue de 2,8mdsaulieudereˊaliserlabeˊneˊficenettepreˊvuede0,9mds (aux prix du dollar canadien en 2000). Le projet a engendré aussi moins de la moitié de l'emploi régional prévu et a échoué dans sa tentative de réduire certains problèmes structurels au sein de l' économie régionale. Bien que les chefs de projet aient eu à leur disponibilité tous les renseignements susceptibles de leur permettre de prévoir les résultats négatifs, soit ils n'ont pas tenu compte de ces renseignements, soit ils les ont écartés d'emblée. Ce comportement de la part des chefs de projet semble irrationnel et s' explique par une combinaison d'erreurs dans la méthodologie d' évaluation employée et dans le comportement des groupes d' intérêt quant au développement des ressources régionales. Des stratégies destinées à réduire la possibilité future de ces erreurs incluent des améliorations dans la mé thodologie d'évaluation employée et des changements de la structure institutionnelle de l'évaluation de projet. G UNTON T. (2003) Großprojekte und Regionalentwicklung: Pathologien bei der Projektbewertung, Reg. Studies 37 , 505-519. Nach Abschluß eines Projektes durchgeführte Gutachten sind wesentlich für das Verstä ndnis der Stärken und Schwächen regionaler Entwicklungsplanung. Leider sind Begutachtungen von Projekten mit Privatsektorbeteiligung, welche die den Projekten vorausgeschickten Vorhersagen mit Ergebnissen nach Durchfü hrung des Projektes vergleichen, selten, denn die dazu benötigten Daten sind der Öffentlichkeit meist nicht zugänglich. Dieser Aufsatz trägt dazu bei, diese Lücke in der Literatur zu füllen, indem er eine Bewertung fertigstellt, die dem Projekt vorausgeschickte Prognosen mit bei Abschluß des Projektes erreichten Ergebnissen eines der größen und am umfassendsten geplanten Großprojekte vergleicht, das je in Kanada unternommen worden ist: das Kohlenprojekt Nordost (Northeast Coal Project=NECP). Die Bewertung zeigt, daß das NECP statt des erwarteten Nettogewinnes von 0.9 Billionen US Dollar (2000 kanadische )einenNettoverlustvon2.8Billionen) einen Nettoverlust von 2.8 Billionen )einenNettoverlustvon2.8Billionen erwirtschaftet hat. Das Projekt beschaffte auch weniger als die Hälfte der erhofften Erwerbsstellen in der Region, und es gelang ihm nicht, die Strukturprobleme der regionalen Wirtschaft zu mildern. Obwohl den Projektplanern jegliche Information zur Verfügung stand, die es ihnen ermöglicht haben sollte, dieses negative Ergebnis vorauszusehen, wurden die Informationen oft nicht beachtet oder abgewiesen. Die Erklärung für diese anscheinend irrationale Vorgehen seitens der Projektplaner läßt sich durch eine Verkettung von Irrtümern bei der Bewertungsmethodik sowie dem Verhalten von Interessengruppen bei der Entwicklung regionaler Ressourcen erklären. Strategien zur Reduzierung der Wahrscheinlichkeit dieser Irrtümer bei zukünftigen Projekten schließen Verbesserungen bei der Bewertungsmethodik und Ä nderungen in der institutionellen Struktur der Projektbewertung ein.
The unified territorial communities are new structural units in the administrative system of Ukraine. In addition to the problems of regulatory and financial nature, issues of scientific and methodological substantiation of the processes of strategic development of the unified territorial communities on the principles of applying modern methodologies and project management practices are also relevant. The article develops methodological approaches to the formation and management of project portfolios for the implementation of strategies for the sustainable development of unified territorial communities on the principles of applying a value-oriented model of project management. The organizational aspects of the introduction of project management in the united territorial communities have been developed based on the creation of a project management office (committee) for managing strategies. The proposed approaches to the formation of territorial strategies will help to ensure the community's economic development and the effectiveness of utilizing the resources available to the communities.
Strategic planning for regional development
2014
Mykolo Romerio universiteto Politikos ir vadybos fakulteto Vadybos studijų krypties bakalauro studijų programos (Organizacijų vadyba) ir magistrantūros studijų programų (Programų ir projektų vadyba, Strateginis inovacijų valdymas, Veiklos auditas), Vadybos ir verslo administravimo studijų krypties magistrantūros studijų programos (Strateginis organizacijų valdymas), Žmonių išteklių vadybos krypties magistrantūros studijų programos (Lyderystė ir pokyčių valdymas) komiteto 2013 m. spalio 29 d. posėdyje (protokolo Nr. 10-81) pritarta leidybai. Mykolo Romerio universiteto Politikos ir vadybos fakulteto tarybos 2013 m. gruodžio 12 d. posėdyje (protokolo Nr.1PV-18) pritarta leidybai. Mykolo Romerio universiteto mokslinių-mokomųjų leidinių aprobavimo leidybai komisijos 2013 m. gruodžio 23 d. posėdyje (protokolo Nr. 2L-4) pritarta leidybai. Visos knygos leidybos teisės saugomos. Ši knyga arba kuri nors jos dalis negali būti dauginama, taisoma arba kitu būdu platinama be leidėjo sutikimo. Leidinys yra finansuojamas iš projekto ,,Magistrantūros studijų programų tarptautiškumo didinimas" (kodas Nr. VP1-2.2-ŠMM-07-K-02-073) lėšų. Chapter 6. Traditional Tools for Regional Analysis .
2015
Funding specific projects and actions may be used to boost a region's economic growth, but maximizing impact requires making wise, well-informed investment allocation decisions. Multiple-criteria analysis provides a means for comprehensively considering and carefully weighing the financial, environmental, political, regulatory, and practical aspects involved in such complex decisions. Designing methodologies that take these variables into account, as well as software tools to effectively manage and support data associated with the various alternatives under consideration can greatly help with this process. This paper presents a methodology for the prioritization of projects aimed at regional development and the decision support tool developed for its implementation. This methodology was used for the elaboration of the Investment Master Plan (IMP) for the PRODEPRO project in Brazil.
THE ANALYSIS OF THE EFFECTIVENESS OF REGIONAL DEVELOPMENT MANAGEMENT
International Journal for Quality Research, 2023
Kuczabski, A., Aleinikova, O., Poberezhets H., Tolchieva, H., Saienko, V., Skomorovskyi, A. (2023). The analysis of the effectiveness of regional development management. International Journal for Quality Research 17(3), 695-706. (Scopus) The desire of countries to integrate into the global financial and economic space causes the intensification of the influence of destabilizing factors of the external environment on their socioeconomic development. The existing problems of regional development aggravate the processes of instability of their effective functioning and the formation of management mechanisms. This study aims to substantiate the theoretical and applied principles of the study of the specifics of the regional development management effectiveness' analysis and evaluation of its trends in the regional dimension. The study uses general scientific and unique methods of economic analysis, in particular: analysis and synthesis, comparison and analogy, generalization and systematization, graphical and tabular methods, and grouping and cluster analysis based on the use of a k-means method. As for the study results of the specific features of the regional development management effectiveness' analysis and assessment of its trends in the regional perspective, it was found that among the European Union and the Eastern Partnership countries there are three groups, characterized by standard features of the regional development: highly developed countries (
Integrated approaches to regional development models
Serie Research Memoranda, 1980
The paper aims at providing a systematic framework for judging regional planning and policy models on the basis of a set of appropriate criteria and characteristics. The nature of these criteria is diverse, so that a multidimensional evaluation of such models may be achieved. This framework will be illustrated in light of a mutual comparison and judgement of (multi-)regional models from three-Western European countries (Belgium, France and The ïïetherlands). The paper will be concluded with a general outlook for the design of regional development planning models, 6 no unknown no 7 unknown unknown unknown 8 yes unknown no 9 no no no 10 yes unknown no
A Study on the Regional Development Agencies as Project Based Development Model
International Conference on Eurasian Economies 2012
Development concept, especially regional development concept has become the most important topic to even out the regional imbalances after the Second World War. The most important date has been after 1929, beginning with big crisis in the world. Regional development agencies which are the role of growth and development key have been established since the early of 1930’s, initially in America, and then in European Countries together with in some other Eastern Countries. Today, the key role of the development within the framework of ‘new development perception’ form the basis of project logic, in other words; project based development model which the agencies are intervening notably. This model is on the agenda, with the strong impact of regional and cohesion politics of European Union and takes the role excessively through grants and funds which development agencies are seen as the place of implementation of those policies. Many different sector-specific projects from infrastructure ...
Paper submitted to the Canadian Environmental Assessment Agency, 2004
This report presents a methodology (or more precisely, a set of heuristics) to estimate the broad cumulative effects of a proposed development project. The methodology is specifically designed to link project-level assessments to regional planning and monitoring initiatives. The purpose of the report is to develop and demonstrate this first iteration of the methodology as a means of exploring its value to practitioners and gathering information for further refinement.
Value-oriented approach in Kazakhstani regional development projects
Problems and Perspectives in Management
Sustainable regional development projects are a challenge for all countries, regardless of their geographic location, cultural differences, or level of economic development. Kazakhstan is also facing this challenge and tries to counteract this process by actively implementing regional development projects and programs. However, project effectiveness and project value remain bottlenecks as these projects are aimed to improve lives and work in rural areas and eliminate inequality; therefore, managing such projects is a complex issue. This study seeks to obtain data that will help to address these research gaps and to identify value aspects of such projects from the end-users’ perspectives – local communities. This can help to understand how to select projects with high value and enhance their effectiveness.For this purpose, in 2020, a questionnaire survey and semi-structured interviews of end-users of regional development projects implemented in local communities were conducted. 301 r...
Evaluating Economic Development Strategies
Economic Development Quarterly, 1994
' This essay reviews recent evaluations of three of the most widely used state and local economic development strategies-traditio,ial business recruitment, enterprise zones, and high-technology development. The studies do not succeed in their efforts to produce broadly generalizable findings that provide clear guidance to state and local policymakers and practitioners. Rather; they show that local conditions are responsible for the success orfailure and level of net community benefits to be derived from any approach. Under the right conditions, each of the approaches described here might be appropriate.