COMPREHENSIVE EVALUATION OF INVESTMENT EFFICIENCY INDICATORS OF CONSTRUCTION, RECONSTRUCTION AND REPAIRING OF ROADS: SCIENTIFIC-METHODICAL ASPECT
Authors:   M.P. Shulgin State Road Research Institute State Enterprise - DerzhdorNDI SE, Kyiv, Ukraine, Bezuglіy Artem , Stasiuk Bohdan ,   M.P. Shulgin State Road Research Institute State Enterprise - DerzhdorNDI SE, Kyiv, Ukraine, Yanchuk Marina ,   National Aviation University (NAU), Kyiv, Ukraine, Zakharova Tetiana ,   M.P. Shulgin State Road Research Institute State Enterprise – DerzhdorNDI SE, Kyiv, Ukraine, Ivanchenko Vitalii ,   M.P. Shulgin State Road Research Institute State Enterprise - DerzhdorNDI SE, Kyiv, Ukraine
Published: March 2022

A historical review of methods for evaluation the economic efficiency of investment projects is performed. The analysis of modern methods of efficiency evaluation in the field of construction, reconstruction and repairing of roads is carried out. The main provisions and principles of comprehensive evaluation of construction, reconstruction and repairing of roads are identified and generalized methodological approaches to determination of the overall socio-economic efficiency of financing works on new construction, reconstruction and repairing of public roads, which provides for the relevant stages of: operational condition of the road; socio-economic efficiency of road reconstruction and repairing; environmental efficiency of road construction, reconstruction and repairing . Introduction The most important requirement for the functioning of modern economic systems is a developed network of roads. Integrative development of the national economy is faced with the need to build new and improve existing international transport corridors, which increases their capacity and transit capacity, exports of motor transport services and reduces the time of connection and delivery of goods and passengers by road. Comprehensive evaluation of socio-economic and environmental efficiency of construction, reconstruction and repairing of public roads is a tool of public policy aimed at implementing the principles of sustainable economic development. In terms of program-targeted planning of public roads generalization and further development of scientific and methodological approaches to comprehensive evaluation of the effectiveness of investment projects for construction, reconstruction and repairing of roads is one of the key tasks to improve the quality of existing roads and new transport routes considering their socio-economic and environmental efficiency. Problem statement. During the evaluation of projects for the construction, reconstruction and repairing of public roads, it is need to consider not only the effectiveness of project investments, but also the social and environmental effects associated with their implementation. Generalization of methodological approaches to the comprehensive evaluation of projects for construction, reconstruction and repairing of roads considering their socio-economic and environmental efficiency and the development of methodological tools for evaluation additional effects is a complex scientific problem. Thus the comprehensive evaluation of efficiency of construction and reconstruction of the road has to characterize conformity of its transport and operational condition to the level of social and economic and ecological requirements which are formed taking into account the state, territorial, public and private interests. Purpose and task. The purpose of the article is to substantiate at the scientific and methodological level the feasibility of a comprehensive evaluation the socio-economic and environmental efficiency of construction, reconstruction and repairing of public roads based on the generalization of existing methodological approaches to investment efficiency calculation. The task of the article is to analyze methodological approaches to evaluation the effectiveness of investment projects, determination of their features and basing on their generalization substantiation of a comprehensive approach to the overall evaluation of socio-economic efficiency of investment in construction, reconstruction and repairing of public roads. Materials and methods During the article preparation, the current methods of evaluation the effectiveness of capital expenditures (investments), designing and regulatory documents regarding evaluation the socio-economic efficiency of investments in the construction, reconstruction and repairing of roads were used. In the process of study the methods of comprehensive and system analysis, abstract-logical, method of comparative analysis and others were used. Results The main provisions and principles of comprehensive evaluation of construction, reconstruction and repairing of roads are determined and the unified methodology for determination the overall socio-economic efficiency of financing of new construction, reconstruction and repairing of public roads, which provides for the relevant evaluation stages: transport and operational condition of the road; socio-economic and environmental efficiency of construction, reconstruction and repairing of the road. Conclusions During evaluation the socio-economic efficiency of investment in the development of public roads has to be used a system of indicators that characterize the results of related effects at the macro-and micro-economic level and in the social sphere. In this context, in order to optimize the processes of prioritization and priority of financing works on new construction, reconstruction and repairing of public roads within the relevant legal and regulatory field, methodological approaches to determination the overall socio-economic efficiency of financing works on new construction, reconstruction and repairing of public roads. The application of common methodological approaches to determining the overall socio-economic efficiency of financing new construction, reconstruction and repair of roads involves long-term planning and financing of clearly defined tasks and measures for the restoration and development of public roads. Keywords: construction, reconstruction and repairing, public roads, comprehensive evaluation, overall socio-economic efficiency, environmental efficiency, investment efficiency indicators.