A Study on Project Prioritisation and Operations Performance Measurements by the Analysis of Local Financial Investment Projects in Korea

Abstract

The study aims to prioritise investment projects of local Korean governments through priority analysis and provide basic data to secure sustainability by measuring the operational performances of these projects. We utilised the AHP technique to draw relative weight, followed by their correction, thereby deriving priorities across all 14 fields; the most important ones being social welfare (0.110), healthcare (0.108), fire prevention (0.097), environmental hygiene (0.092), and cultural tourism (0.088). Important areas prioritise balance and equity and their operational efficiency and productivity were based on statistical annual reports of 17 cities and provinces in Korea and Kosis data obtained from the National Statistical Office. For the measurement, we used six years of time series data from 2015 to 2020 and single point-in-time and annual trend analyses. The input factors were the amount of revenue and the number of public officials, and the output factors included the water and sewage supply rate, the number of tourists travelling for free, and the number of hospitals, welfare facilities, and rescue cases. These selections were appropriate to draw conclusions by analysing operational performance with detailed items in the priority field. Results revealed that the operating performance was excellent. However, to secure additional operational efficiency and productivity, technological innovation is needed.