The purpose of the article is to develop an integrated methodology for assessing the utility of European Union structural funds investments, combining the theory of relative utility, Utilization-Focused Evaluation and the Analytic Hierarchy Process (AHP) method, considering the theory of stakeholders. The tasks of the study include identifying and classifying stakeholders, defining criteria and alternatives, creating a hierarchy of dominance, performing pairwise comparisons and calculating the final utility assessment. The methodology is based on a combined approach: determining the weights of stakeholders, calculating AHP priorities and the Vargas formula for the final synthesis. The data were obtained in an expert survey, where each expert represented a cluster of stakeholders. The results show that in Latvia for the EU structural funds planning period 2021-2027, the priorities «A More Social and Inclusive Europe» and «A Greener Europe» are prioritized, while «Just Transition Fund» and «A Europe Closer to Citizens» are the lowest. The original contribution is the development of an integrated evaluation model that combines AHP with a relative utility approach and stakeholder weighting, providing a balanced and practical tool for cohesion investment decisionmaking.