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Effective decision-making requires tools for evaluating choices. This module provides the basic tools for evaluating costs and benefits of decision-making through project financial and social-economic analysis. Almost every company and various governing bodies require a cost-benefit analysis to ensure that the right decisions are made with limited resources. Whether these decisions relate to investment projects or broader social policy, it is essential that these choices are evaluated to ensure an optimal outcome.

This module is designed to provide students with the analytical and critical thinking skills required to carry out a financial and social-economic project evaluation. By developing these skills, the student should be able to evaluate projects in the environment around us.

Kaunas University of Technology

Find solutions to practical, operational or conceptual problems in a wide range of contexts.

solve problems

Develop ideas or conclusions that lead to the creation and implementation of innovations or changes. 

think innovately

Generate new ideas or combine existing ones to develop innovative, novel solutions.

think creatively

Learners will be able to use methods to perform financial analysis of the project.

Financial evaluation of the project

Understand project management and the activities which comprise this area. Know the variables implied in project management such as time, resources, requirements, deadlines, and responding to unexpected events.

project management

Learners will be able to conduct a sensitivity analysis and make decisions.

Project risk evaluation

Develop the schedule including procedures, appointments and working hours.

plan schedule

Learners will be able to use various evaluation methods .

Project evaluation planning

Learners will be able to use methods to perform socio-economic analysis of the project.

Socio-economic evaluation of the project

Socio-Economic Evaluation of Projects​

It is essential for every company and various governing bodies that projects’ choices would be evaluated to ensure an optimal outcome

Entrepreneurship, technology and innovation

Critical and innovative thinking

Intra-personal skills

The ability to manage projects and programme activities. The knowledge of variables implied in project management such as time, resources, requirements, deadlines, and responding to unexpected events.

Project management

Manage projects effectively

The ability to innovate for social needs. The knowledge of innovative models, products or services which meet a social need and have as a consequence the creation of new collaborations in the social field.

Social innovation

Social entrepreneurs create innovative products or service models to tackle social and environmental challenges, pursuing through their profits a social mission that benefits a wider community or the environment. They often use a more democratic decision-making system by involving closely their stakeholders, and strive to achieve change at a systems level, by influencing policies, market evolutions and even mentalities.

social entrepreneur

Innovative models, products or services which meet a social need and have as a consequence the creation of new collaborations in the social field.

social innovation

Create novel solutions for social issues.

The ability to access and analyse digital data and to select and use ICT systems for a variety of complex tasks in order to meet a variety of needs.

ICT systems

Using ICT systems

The ability to work with digital devices and applications and to list simple instructions for a computing system to solve problems or perform tasks at a basic level and with appropriate guidance where needed.

Programming skills

Applying basic programming skills

The ability to use information technologies and equipment to storing, retrieving, transmitting and manipulating data. The ability to use online and digital tools for collaboration, communication, and productivity

IT tools

Using IT tools

The ability to utilise the knowledge of various aspects related to the functioning and operations of businesses to develop solutions to societal challenges.

Business Knowledge

Using business knowledge

The ability, knowledge and skills required to effectively use and leverage various types of technology to accomplish work-related tasks and goals.

Working with technology

Using technology

The ability to develop entrepreneurial and financial skills and competencies through organising and managing an own business venture, identifying and pursuing opportunities and mobilising resources, keeping in mind a profitability perspective.

Entrepreneurial skills

Develop, organise and manage an own business venture, identifying and pursuing opportunities and mobilising resources, keeping in mind a profitability perspective. Demonstrate a proactive attitude and determination to achieve success in business

show entrepreneurial spirit

Demonstrating entrepreneurial spirit

The ability to identify and evaluate new business opportunities, develop and implement innovative strategies to capitalise on these opportunities, leverage technology to create new products or services, and adapt to changing market conditions. It also involves skills such as problem-solving, creativity, risk management, and strategic thinking.

Creating and implementing innovative business ideas using technology

Preparatory

The ability to develop and implement policies, programs, and interventions that maintain sanitary public areas.

Public areas

Create sanitary and clean public areas

The ability to design systems and products, structures or facilities by consulting builders and those requiring extra support to determine how best to provide accessible infrastructure.

Infrastructure accessibility

Ensuring infrastructure accessibility

The ability to develop solutions within systems which provide for access to (public) services with consideration for the diverse perspectives of all stakeholders.

Universal access to services

Providing access to services for all

The ability to develop and implement programs or activities aimed at raising awareness of issues relevant to the local community, such as social or economic inequality, gender issues, violence, and drug abuse for the improvement to their quality of life. The skills required for community advocacy, liaising, and networking, as well as the ability to apply work within communities to establish social projects aimed at community development and active citizen participation for the common and public interest. The knowledge of civic, community or neighborhood initiatives, volunteering opportunities, and non-governmental organisations.

Quality of life in cities and communities

Actively engage in activities for the common or public interest such as civic, community or neighbourhood initiatives, volunteering opportunities and non-governmental organisations.

participate actively in civic life

Establish social projects aimed at community development and active citizen participation.

work within communities

Intervene and implement programs or activities that raise awareness of issues relevant for the respective local community, such as social or economic inequality, gender issues, violence, and drug abuse.

raise awareness on local community's priorities

Working within communities to participate actively in civic life and raise awareness of the local community priorities

The ability to aid communities or other public services with technical skills in situations which create risks to the public or when special support is needed.

Assist communities

Assisting communities

The ability to develop and implement aspects of resource systems taking into consideration the needs of local communities. The knowledge of development policy focusing on specific sub-regional areas and characterised by the involvement of local communities and local action groups to design integrated and multi-sectoral local development strategies. The ability to assess and evaluate the effectiveness and efficiency of health services for the community with a view to its improvement.

Resource-efficient systems

An approach to development policy focusing on specific sub-regional areas and characterised by the involvement of local communities and local action groups to design integrated and multi-sectoral local development strategies that take into account local needs and potential.

community-led local development

Assess the effectiveness and efficiency of health services for the community with a view to its improvement.

assess health services within the community

Promoting community-led resource system development

The competence to contribute to the building and maintaining of resilient communities that possess the necessary qualities, resources, and capacities to withstand and recover from various challenges, shocks, and adversities. Resilient communities develop in many ways, through building strong social connections, developing robust, sustainable infrastructure, and embracing diversity and inclusivity. The abilities to develop and implement policies, practices, and interventions that promote resilience at individual, community, and systemic levels. The knowledge of various dimensions such as social, economic, environmental, and infrastructural that relate to the development of resilient communities.

Resilient communities

Seek solutions for the healthy and sustainable development of communities in their structure, socio-political interactions, and connection with technological developments.

The ability to design social areas and public spaces that are open and inclusive to all. The knowledge of inclusivity and key groups affected. And the ability to plan, develop, and create open spaces in cooperation with communities, clients, and other professionals.

Inclusive public spaces

Design social areas and open spaces working in cooperation with communities, clients and other professionals.

design open spaces

Designing public spaces to be open and inclusive for all.

The ability to develop and implement policies in organizations to promote a positive, inclusive environment with equality of opportunity for all. The knowledge and awareness of the various needs and perspectives of minority groups (ethnicities, genders, religious groups, etc.).

Inclusive policies

Develop and implement plans which aim to create an environment in an organisation which is positive and inclusive of minorities, such as ethnicities, gender identities, and religious minorities.

set inclusion policies

Promote diversity and equal treatment of genders, ethnicities and minority groups in organisations in order to prevent discrimination and ensure inclusion and a positive environment.

promote inclusion in organisations

Developing and implementing policies in organisations to promote inclusivity for genders, ethnicities and minority groups.

The ability to integrate elements of sustainability and balanced resource consumption in the development of urban infrastructure. This involves the awareness of principles, policies and regulations, knowledge of how to apply them in different contexts, a mindset for sustainable development, and adept ability to maneuver through complex stakeholder dynamics in the context of urbanisation.

Sustainable urbanization

Apply principles, policies and regulations aimed at environmental sustainability, including the reduction of waste, energy and water consumption, the reuse and recycling of products, and the engagement in the sharing economy.

adopt ways to reduce negative impact of consumption

Throughout the coordination of an engineering project, promote the development of infrastructure that is innovative and sustainable, in line with the latest developments in the field.

promote innovative infrastructure design

Awareness and ability to champion sustainable development in urban infrastructure projects

The ability to develop and apply risk management processes to prevent and respond to disasters and emergencies. The knowledge of potential risks, compliance regulations, and actions for contingency plans. The proactive attitude to identify risks and develop solutions to protect and reduce negative impact.

Disaster risk reduction

Compose procedures outlining specific actions to be taken in the event of an emergency, taking into account all the risks and dangers that could be involved, ensuring that the plans comply with safety legislation and represent the safest course of action.

develop contingency plans for emergencies

Identify risks and apply a risk management process, e.g. hazard analysis and critical control points (HACCP).

apply risk management processes

Develop and apply risk management processes to prevent and reduce the negative impact of disaster situations.

The ability to minimise impact of activities on the surrounding environment through assessing work practices, applying policies for protection, and employing sustainable waste and disposal practices. The knowledge of environmental regulations and sustainable practices and and ability to identify potential areas of environmental damage. The mindset of long-term sustainability in the development of practices and the feeling of responsibility to improve.

Environmental impact

Apply principles, policies and regulations aimed at environmental sustainability in the workplace.

follow environmentally-sustainable work practices

Minimise the waste of materials and dispose of debris correctly. Minimise the damage to plants, features and surrounding areas.

minimise environmental impact on the surrounding area

Minimising negative environmental impact of work practices.

The knowledge, skills and attitude important to thrive in the fields of energy and sustainability. Energy presents a fundamental challenge shared by cities and regions across Europe as well as globally, characterised by the ‘trilemma’ of seeking to achieve secure supply, affordability, and environmental sustainability. However, at the regional level, there are opportunities to revolutionise production, distribution and consumption. Approaches should work with the assets of each region. For example, regions that are positioned close to capture energy (wind, sun, hydropower, biofuel from crops or waste) or locations that are well-positioned to areas of great demand (industrial hubs, adjacent cities) can develop smart infrastructure accordingly.

A key opportunity for rurban areas is to use smart systems to decentralise energy supply and take back the ownership of localised energy production, for example through ground source heat pumps (GSHP), wind power or solar. This can enable more remote locations to secure their own clean energy supply. Rural areas offer great opportunities for solving energy and sustainability problems.Tackling this trilemma involves maximising efficiency across the system, from the generation of clean energy to power buildings and transportation, the storage and distribution of energy when and where it is needed, and the smart consumption by end-users.

Energy and sustainability

Seeking energy solutions to achieve the trilemma of secure supply, affordability, and environmental sustainability.

The ability to integrate various environmental, social and governance considerations when making financial decisions towards a circular economy. The knowledge about the sustainable investments, and the mindset to develop longer-term investment scenarios for sustainable economic activities and projects.

Financing circular economy

The process of integrating environmental, social and governance (ESG) considerations when making business or investment decisions, leading to increased longer-term investments into sustainable economic activities and projects.

sustainable finance

Developing finance schemes for the circular economy taking into account environmental and societal concerns.

The ability to manage the methods and processes used to collect, transport, treat, recycle, and dispose of waste for the benefit of a healthy, hygenic society. The knowledge of monitoring practices for safe waste disposal and a mindset to consider waste management as part of the circular economy, not only an end point.

Waste management

The methods, materials and regulations used to collect, transport, treat and dispose of waste. This includes recycling and monitoring of waste disposal.

waste management

Manage effective, healthy processes for safe waste disposal.

The ability to promote policies, activities, and educational programmes that encourage sustainable consumer consumption behaviour. The knowledge of methods for behaviour change in consumers and of the interconnected nature of production supply chains. The mindset to lead the change needed to realise changes in sustainable consumption and production.

Responsible consumption and production

Promoting and integrating responsible, sustainable consumption and production practices.

The ability to apply principles, policies, and regulations towards environmental sustainability. The knowledge and skills to identify and enact methods towards the reduction of waste, energy, and water consumption, the reuse and recycling of products, and the engagement in the sharing economy. The mindset to proactively develop effective policies and implement changes into a circular economy.

Sharing and reusing

Investigate ideas and spot opportunities to improve the collection, process and recycling of waste materials.

identify new recycling opportunities

Identifying and applying policies, regulations, and activities to promote better consumption behaviours and shared economy.

A circular economy transition requires adapting to the specific situation of each city and region, utilising its inherent qualities and strengths. Cities and regions have different policies to support the transition to a circular economy, operate along with different times scales, but also differ in their foci and their urgency. As a result, achieving a circular economy will generally require intergovernmental cooperation, which may require special attention in the case of rurban regions where municipalities operate more independently.

A circular rural and urban region embeds the principles of a circular economy across all its functions, establishing a regional system that is regenerative and restorative by design, with a strong interaction between the urbanised and surrounding rural areas. A major challenge for rurban regions will be to identify the quantities and quality of the resource flow at a regional level while identifying and evaluating potential solutions that will contribute to a sustainable, biodiverse environment. The involves the essential digitalisation for measuring, monitoring and supporting these resource flows. Digital technology has enabled a fundamental shift in the way the economy functions, offering possibilities for radical virtualisation, de-materialisation and greater transparency of product use and material flows.

At the same time, it creates new ways of operating and participating in the economy for producers and users. Through the collection and analysis of data on materials, people and external conditions, digital technology has the potential to identify the challenges of resource flows in regions, outline the key areas of structural waste, and inform more effective decision-making on how to address these challenges and provide systemic solutions. For this purpose, cities and regions need clear, transparent rules that gradually raise standards. Systems for enforcing those rules and monitoring overall progress are required. This includes removing regulatory barriers within and across countries and phasing out incentives for unsustainable resource use.

Circular economy

Seeking solutions for resource flows that contribute to a sustainable, biodiverse environment.

The ability to devise transport sector strategies and policies. Knowledge of the the public administration and regulatory aspects of the transportation and infrastructure sectors, and requirements necessary to create effective policies.

Sustainable transport policies

The public administration and regulatory aspects of the transportation and infrastructure sectors, and requirements necessary to create policies.

transportation sector policies

Creating sustainable transport policies

The ability to use various methods to analyse green-house gas emissions such as CO2 emissions.

Vehicle footprint

Evaluate the ecological footprint of vehicles.

The ability to determine performance regarding the use of sustainable transport, set objectives for promoting the use of sustainable transport and propose environmentally friendly alternatives of transport. The knowledge of how to reduce the carbon footprint and noise and increase safety and efficiency of transport systems.

Sustainable transport

Promote the use of sustainable transport

The ability to develop solutions for reducing carbon emissions in the transportation sector. The skills to evaluate the most sustainable and cost-effective transport options, develop and implement strategies to promote low carbon transportation, and work collaboratively with stakeholders to achieve sustainable transportation goals. The knowledge of different types of low carbon transportation technologies and infrastructure, the environmental impacts of transportation, including air pollution, greenhouse gas emissions, and resource depletion. The strong sense of environmental responsibility, and a positive attitude towards sustainable transportation options.

Low carbon transport

Develop low-carbon options for transportation

The ability to design and develop transport solutions based on the integration of digital technologies and data management. The knowledge to help promote the shift from personally-owned transport to on-demand and shared mobility services.

Optimising movement

Working on innovative mobility services

The ability to monitor environmental parameters related to air pollution and the knowledge of how to reduce the negative impact of consumption and manufacturing. The ability to analyse temperature levels, water quality and air pollution.

Air pollution

Check the impact of manufacturing machinery on the environment, analysing temperature levels, water quality and air pollution.

monitor environmental parameters

Understanding the environmental impacts of air pollution

Effective transport and mobility is an integral part of achieving sustainable development across all scales, from city networks to rurban to national to international networks. Technological innovations are already delivering improvements to transport service delivery, user experience and environmental performance across various transport modes (road-based, rail, aerospace, active travel), but this is only the beginning. The world of transport will transform dramatically over the coming decade as new technology, such as decarbonised power sources, mobile communications, AI and big data radically transform the way that transport outcomes can be delivered.

Transport and Mobility

Seek solutions for achieving sustainable development of the way people and resources move around the world.

SDG/Domain

Portuguese

The Portuguese language. Portuguese is an official and working language of the EU.

Polish

The Polish language. Polish is an official and working language of the EU.

German

Irish

The Irish language. Irish is an official and working language of the EU.

Italian

The Italian language. Italian is an official language of the EU.

Danish

The Danish language. Danish is an official and working language of the EU.

Finnish

The Finnish language. Finnish is an official and working language of the EU.

Swedish

The Swedish language. Swedish is an official and working language of the EU.

Norwegian

Spanish

The Spanish language. Spanish is an official and working language of the EU.

Lithuanian

The Lithuanian language. Lithuanian is an official and working language of the EU.

French

The French language. French is an official and working language of the EU.

English

The English language. English is an official and working language of the EU.

Catalan

Dutch

The Dutch language. Dutch is an official and working language of the EU.

Language learning, together with other transversal skills and competences are not specifically related to a particular discipline or area of knowledge, but are relevant to a broad range of occupations and sectors. They can be addressed as skills that contribute to the development of a person.

Socio-Economic Evaluation of Projects

Socio-Economic Evaluation of Projects

Description

The Team

Teamchers

Learners

Information

The story

The application process

Participant information

Value and progress

Financial evaluation of the project

ESCO SKILLS

Project risk evaluation

ESCO SKILLS

Project evaluation planning

ESCO SKILLS

Socio-economic evaluation of the project

ESCO SKILLS

Critical and innovative thinking

Entrepreneurship, technology and innovation

Intra-personal skills

Not sure which competencies suit you?

Kaunas University of Technology

Kaunas University of Technology

Socio-Economic Evaluation of Projects​

Socio-Economic Evaluation of Projects​

Description

The Team

Teamchers

Learners

Information

The story

The application process

Participant information

Value and progress

Financial evaluation of the project

ESCO SKILLS

Project risk evaluation

ESCO SKILLS

Project evaluation planning

ESCO SKILLS

Socio-economic evaluation of the project

ESCO SKILLS

Critical and innovative thinking

Entrepreneurship, technology and innovation

Intra-personal skills

Not sure which competencies suit you?

Kaunas University of Technology

Kaunas University of Technology

Socio-Economic Evaluation of Projects

Socio-Economic Evaluation of Projects