Natural disaster has been hard to prevent the occurrence of itself, thus in order to reduce the economic damages and loss casualties, it is important to be prepared in cases that the disasters should occur in advance. Interest of the related project to prevent various natural disasters has been grown along with an investment in Korea. Along with this movement, when investments related to natural disaster prevention projects were built on, the post evaluation that can verify the ripple effects of those investments on the community should be emerging as an essential task. For evaluating the effects of public investment projects such as natural disaster prevention projects in this study, the related researches would continue through qualitative analyses, for example, cost-benefit analysis. Even the qualitative analysis alone cannot fully explain the effects of those projects, the diverse methods of analyzing and evaluating those effects might not have been presented in those fields. For the post evaluation of natural disaster prevention projects through the qualitative analysis, this study derived subjects that had effects on the post evaluation of natural disaster prevention projects. Also, employing the structural equation modeling (SEM), the causation between post evaluation subjects and the effects of projects were quantitatively analyzed, and the weighting factors of evaluation items were calculated respectively. Based on these results, post evaluation index formula was proposed for the natural disaster prevention projects in Korea.