PROJECT COST-BENEFIT ANALYSIS: AN IMPROVEMENT TO CONSTRUCTION PROJECT MANAGEMENT PROCESS

In perspective, the importance of attention to application of financial analysis results in the project management process of project financing, improving its quality, and economic interpretation of the analytical indicators, is growing. Analysis of the progress of financial volume of concluded contracts over 2010, separated by dimension codes, reveals that the greatest progress belongs to the field of construction, where contracts for 374.4 million euro were concluded in 2010. The purpose of the article is to analyze construction and infrastructure projects submitted for financing from the European Union structural fund resources, their cost-benefit analysis (CBA), and to assess the financial, social and economic indicators planned in the project submission against the actual post-project implementation indicators of the project life cycle. During the analysis of project applications submitted by municipalities, the authors carried out an in-depth assessment and recalculation of the CBA of infrastructure projects. The analysis was based on a comparison of the indicators initially defined in the project submittal and the actual situation following the implementation of the project.