OBJECTIVES AND DECISION CRITERIA FOR INFRASTRUCTURE INVESTMENT
The National Cooperative Highway Research Program (NCHRP) has undertaken various research efforts to develop cost-benefit analysis techniques. NCHRP Project 2-17(1), "Methodologies for Evaluating the Effects of Transportation Policies on the Economy," developed a Primer for applying the cost-benefit techniques to analyze transportation investments considering a wide range of factors. This Digest describes the application of the cost-benefit procedures outlined in the Primer for the purpose of assessing transportation investment options at the national scale. Although this effort was aimed at the national level, it is believed that variations of the techniques described herein will be useful to state, regional, and local governments in making investment decisions. The Digest is presented in 4 chapters. Chapter 1 discusses the problem and its solution. Chapter 2 examines appropriate objectives for infrastructure investment. Chapter 3 presents a framework for promoting growth-oriented public capital formation, identifies the appropriate decision criteria and corresponding appraisal methodologies for use in identifying growth-related infrastructure projects, and discusses ways in which the federal government can create incentives for states and localities to apply these objectives, criteria, and methodologies to ensure the optimum level, mix, and geographic distribution of public investment. The focus is on program changes that can be achieved immediately. Chapter 4 offers a brief conclusion.
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Washington, DC United States 20001
- Lewis, D
- Publication Date: 1994-12
- Media Type: Digital/other
- Features: Tables;
- Pagination: 15 p.
- NCHRP Research Results Digest
- Issue Number: 200
- Publisher: Transportation Research Board
- TRT Terms: Benefit cost analysis; Decision making; Federal government; Infrastructure; Investments
- Subject Areas: Economics; Highways; Society; I10: Economics and Administration;
- Accession Number: 00716794
- Record Type: Publication
- Files: TRIS, TRB
- Created Date: Feb 5 1996 12:00AM