Resolution No. 491 of the Cabinet of Ministers validating the Procedure for conducting a post-investment assessment of a large-scale public investment project.

This Resolution validates the Procedure for conducting post investment evaluation of large-scale public investment projects. The Procedure applies to projects fully or partially financed from the state or local budgets, or supported by state or local guarantees, after their completion. Projects implemented through public private partnerships or with the support of international financial institutions are excluded, as they are subject to separate evaluation frameworks. The purpose of post investment evaluation is to assess the effectiveness, efficiency, and results of completed projects, verify achievement of planned goals, timelines, and budgets, and generate recommendations to improve public investment management.
The Procedure introduces a structured post investment period lasting five and a half years, beginning after project completion. During this period, the project initiator must prepare a post investment plan, carry out continuous monitoring, and conduct two formal evaluations: a primary evaluation three years after completion and a final evaluation five years after completion. Monitoring and evaluation focus on both the investment effect (financial and economic results, cost benefit analysis, efficiency of resource use, and deviations from forecasts) and the social impact, including economic growth, quality of life, environmental and climate effects, gender equality, and territorial development. Data sources may include official statistics, accounting records, audits, surveys, interviews, environmental and gender analyses, and other verified information, all recorded in the Unified Information System for Public Investment Management.
Based on monitoring results, the project initiator must prepare a post investment evaluation report in a standardized format, detailing project data, methods used, forecast versus actual indicators, analysis of results, sustainability of outcomes, and supporting documentation. Reports are reviewed and approved by the competent authority at the state, regional, or local level, with the possibility of revision if deficiencies are identified. Approved reports are published as open data and serve as a basis for improving future project planning and implementation, strengthening transparency, accountability, and evidence based decision making in the national public investment system.