Pages: 856-867 Published: 29 Aug 2014
Views: 2,248 Downloads: 666
Abstract: Public projects don’t generate enough income to be financially justified, but create social benefits. Every project should be evaluated in order to make the investment decision. The cost-benefit analysis is a common method for public project evaluation, but this method does not fully comply with the basic concept of public projects. This theoretical and empirical research disclosed limitations of the cost-benefit analysis, used for public projects evaluation and identified the problem field for improving the cost-benefit analysis or creating new methods for public project evaluation.
Keywords: investment, public project, social benefits, cost-benefit analysis