COST/BENEFIT ANALYSIS OF HIGHWAY PROJECTS

MANY PEOPLE CONSIDER THE USE OF COST-BENEFIT TECHNIQUES FOR THE ASSESSMENT OF RATES OF RETURN ON CAPITAL INVESTMENT IN HIGHWAY PROECTS TO BE AN EXERCISE IN MATHEMATICAL JUGGLING PROVIDING A SUITABLE FIGURE FOR THE MINISTRY OF TRANSPORT IN ORDER TO SATISFY THE REGULATIONS. SUCH PEOPLE CONSIDER THAT SCHEMES ARE CHOSEN ON A GEOGRAPHIC AND POLITICAL BASIS, AND THAT ECONOMIC ASSESSMENTS ARE JUST SO MUCH MORE RED TAPE. THE AUTHOR, ALTHOUGH REALIZING THE SHORTCOMINGS OF THE METHOD NOW IN USE, AS DESCRIBED IN THE MINISTRY CIRCULAR NO. T5/67 PUBLISHED IN 1967, DISAGREES, CONSIDERING SOME SUCH METHOD THE ONLY SUITABLE WAY OF ATTEMPTING TO DECIDE SOME SORT OF PRIORITY RATING. THIS BEING THE CASE, TRAFFIC ENGINEERS SHOULD CARRY OUT ALL SUCH CALCULATIONS WITHOUT BIAS AND NOT ATTEMPT TO 'ADJUST' RESULTS TO FIT PRECONCEIVED POLITICAL MOTIVES. EVEN IF SCHEMES, ONCE SUBMITTED TO THE MINISTRY, WERE DECIDED ON BY SOME OTHER UNKNOWN METHOD, COST/BENEFIT ANALYSIS CAN STILL BE USED TO GOOD EFFECT BY THE COUNTIES IN HELPING TO DECIDE WHAT SCHEMES SHOULD, IN FACT, BE SUBMITTED. /AUTHOR/

  • Availability:
  • Supplemental Notes:
    • Vol 10, pp 566-568
  • Authors:
    • MOGRIDGE, M C
  • Publication Date: 1969-3

Media Info

Subject/Index Terms

Filing Info

  • Accession Number: 00201763
  • Record Type: Publication
  • Source Agency: Traffic Systems Reviews & Abstracts
  • Files: TRIS
  • Created Date: Jun 1 1970 12:00AM