Improving procedures and methods for assessing the effectiveness of regional economic policy in a constituent entity of the Russian Federation – a federal city

The article addresses the problem of insufficient validity of regional economic policy effectiveness assessment caused by the focus of existing procedures on target achievement without considering the ratio of costs to socio-economic effects. The purpose of the study is to develop a reforming tool for the effectiveness assessment system of regional economic policy in a federal city. The methodology is based on a systemic and process approach, decomposition of assessment procedures, implementation of a project organizational structure and transformation of qualitative indicators into quantitative values. An integrated assessment algorithm is proposed including monitoring, expert evaluation, expenditure analysis, indicator consolidation and decision-making blocks. A practical efficiency assessment model considering budget expenditures and social significance of results is developed. The proposed tool improves objectivity, reduces administrative workload and provides feedback for policy adjustment. The results may be applied by public authorities in improving public administration and strategic planning mechanisms.