Abstract: The article provides a detailed analysis of modern methods for assessing the effectiveness of construction programs used in Ukraine and abroad. The main emphasis is placed on financial and economic indicators, including net present value (NPV), internal rate of return (IRR), profitability index (PI), payback period (PP) and discounted cash flow analysis (DCF). At the same time, methods that take into account social indicators, such as housing affordability, improving employment levels, developing social infrastructure and improving the well-being of the population, are considered. Particular attention is paid to environmental criteria for assessing effectiveness, including the level of energy efficiency of buildings, the use of environmentally friendly building materials, the impact of construction on the environment and the level of greenhouse gas emissions. The issue of risk management in construction programs is studied. The construction industry is capital-intensive and has a high level of risk due to the long-term project implementation cycle, fluctuations in prices for building materials, changes in the legislative field and political instability. The use of compensatory mechanisms, such as Tax Increment Financing, is proposed, which allow reducing the burden on the state budget and attracting additional financial resources for the implementation of construction programs. One of the key problems limiting the effectiveness of construction programs is regulatory barriers. The existing regulatory framework is often not flexible enough, which complicates the implementation of modern approaches to construction project management. The article considers the issue of improving state regulation in the construction sector, in particular through the digitalization of performance assessment processes, simplification of permit procedures, creation of electronic registers and implementation of a system for monitoring the implementation of construction programs in real time. Based on the analysis, a set of recommendations has been developed to improve the methods for assessing the effectiveness of construction programs. The introduction of multi-criteria assessment models that take into account financial, economic, social, environmental and risk factors is proposed. The prospects for the application of digital technologies for assessing the effectiveness of construction projects are considered, in particular the use of Big Data, artificial intelligence and blockchain technologies. The feasibility of increasing the transparency of the process of implementing construction progra