Audit stewardship and oversight of large and innovatively funded projects in Europe: international technology scanning program

As transportation agencies undertake nontraditional, innovatively financed infrastructure projects, a concern among State and Federal managers is the effectiveness of the audit stewardship and oversight for these projects. The Federal Highway Administration, American Association of State Highway and Transportation Officials, and National Cooperative Highway Research Program sponsored a scanning study to document best practices used in England, France, Ireland, Portugal, and Spain in the stewardship and oversight of large, innovatively funded projects. The scan team observed that the terms of public-private partnership contracts have evolved as the European countries have gained experience in their use, and business models and evaluations have become an integral part of project selection and monitoring. To be effective, public sector project auditors in Europe need a range of skills, such as value engineering, business modeling, capital budgeting, and performance auditing. The team's recommendations for U.S. implementation include developing a Web site on audit stewardship and oversight best practices. The team also recommends that FHWA and AASHTO provide consultation and training for auditors and other financial managers involved in major or innovative procurement contracts, including development of a project planning model and an audit procedures manual.

• Record URL:
  http://international.fhwa.dot.gov/pubs/pl07001/pl07001.pdf
• 
• Record URL:
  https://rosap.ntl.bts.gov/view/dot/50496
• Corporate Authors:

  Federal Highway Administration

  1200 New Jersey Avenue, SE
  Washington, DC  United States  20590
• Authors:
  • Jeffers, J P
  • McDavid, C L
  • Broadhurst, J V
  • Grosskopf, K R
  • Jones, J J
  • Kamnikar, E G
  • Kamnikar, J A
  • Mayer, J R
  • Rosti, C
  • Scott, B
  • Shumock, J H
  • Whitworth, O
• Publication Date: 2007-3

Language

• English

Media Info

• Pagination: 45p
• Serial:
  • Issue Number: FHWA-PL-07-001

Subject/Index Terms

• TRT Terms: Budgeting; Financing; Highway operations; Infrastructure; Partnerships; Private enterprise; Project management; Toll roads; Transportation departments
• Uncontrolled Terms: Road design and management
• Geographic Terms: Europe
• ATRI Terms: Budget; Infrastructure; Partnership; Private sector; Project management; Road authority; Road funding; Road management
• Subject Areas: Administration and Management; Finance; Highways;

Filing Info

• Accession Number: 01387459
• Record Type: Publication
• Source Agency: ARRB
• Files: NTL, ATRI, USDOT
• Created Date: Aug 22 2012 10:29PM