| Abstract [eng] |
Factories and industrial buildings that prospered before start losing their significance and become unexploited due to technological advances and change of human needs. Planning urban development and management requires addressing the issue related to utilization of deserted territories that are no longer used according to their purpose: whether deserted buildings which are no longer functionally exploited should be demolished or perhaps preserved and adapted for other purposes. The final Master’s thesis analyses the economic efficiency of investment project (which employs the analysis of business and public investment peculiarities in order to discuss a possibility of functional adaption of unexploited premises of Šiauliai University for residential and leisure time activities). The conceptual part of the paper takes a look on theoretical aspects of economic efficiency concept investigated by Lithuanian and foreign authors, analyzes the concepts and key features of investment projects and reconstruction. The present part reviews the concept of Cost Benefit Analysis intended for the assessment of public projects. Public investment projects, unlike business projects, do not generate disposable net revenue (or do not generate it sufficiently enough for financial basis), and produce social benefit to the society. European Union (EU) and Lithuanian Regulations require for all public projects that apply for financing from EU Structural Funds of Cohesion Fund to be assessed by the method of Cost Benefit Analysis which is employed in the paper for the analysis of investment project. The analytical part takes into consideration Investment Project Assessment Methods approved by the European Commission in 2014 for carrying out economic efficiency analysis related to investment project for reconstruction of unexploited premises of Šiauliai University with the emphasis on financial and economic-social indicators. The paper provides alternatives for utilization of deserted unexploited premises of the Faculty of Social Sciences of Šiauliai University and discloses their significance. The research contributed to determining that even though projects do not tend to be financially profitable, they can provide a strong social – economic benefit. |
