This paper identifies the need to design new financing schemes for telematics projects. It reviews the key concepts to be considered when evaluating the different approaches to improving the likelihood of achieving desirable, efficient, and timely deployment of investments in Intelligent Transportation Systems (ITS). First, a classification framework is presented for evaluating the efficiency of ownership mechanisms for delivering infrastructure goods and services. Then externalities in cost estimation are discussed, leading to a critical evaluation of the potential roles of public and private organisations in such delivery. Special attention is paid to the issue of risk, which affects any new modern financing scheme for infrastructure projects sponsored by a mix of public and private organisations. Such schemes should ensure that the ownership structure reflects the costs and benefits for these organisations. A suitable theoretical formulation is available in the form of four indices for evaluating the economic, political, construction, and project risks of an infrastructure project bond: (1) reliability, the project's success probability; (2) resiliency, how quickly a failed project can recover; (3) vulnerability, the severity of failure consequences; and (4) robustness of cost estimates.

  • Availability:
  • Corporate Authors:

    Alexandrine Press

    P.O. Box 15, Cornmarket Street
    Oxford OC1 3EB,   England 
  • Authors:
    • Haynes, K
    • ARIEIRA, C
    • BURHANS, S
    • PANDIT, N
  • Publication Date: 1995


  • English

Media Info

  • Features: References;
  • Pagination: p. 246-54
  • Serial:
    • Volume: 21
    • Issue Number: 4
    • Publisher: Alexandrine Press
    • ISSN: 0263-7960

Subject/Index Terms

Filing Info

  • Accession Number: 00723175
  • Record Type: Publication
  • Source Agency: Transport Research Laboratory
  • Files: ITRD
  • Created Date: Jul 26 1996 12:00AM