ECONOMIC EVALUATION OF ENGINEERING PROJECTS: A COMPREHENSIVE APPROACH TO PLANNING TRANSPORT FACILITIES

THE DISTINCTION BETWEEN COST-BENEFIT ANALYSIS AND PROJECT EVALUATION IS DISCUSSED. IT IS ARGUED THAT COST-BENEFIT ANALYSIS IS MAINLY CONCERNED WITH THE DETAILED ASSESSMENT OF COSTS AND BENEFITS AND THEIR COMPARISON OVER AN EXTENDED PERIOD OF TIME. PROJECT EVALUATION, ON THE OTHER HAND, IS CONCERNED WITH FAR WIDER ISSUES AND EMBRACES AT LEAST FOUR DISTINCT PHASES: THE GENERATION OF PROJECT IDEAS; THE SCREENING OF THESE IDEAS TO ESTABLISH A ROUGH ORDER OF PRIORITIES; THE DETAILED ANALYSIS OF SELECTED PROJECTS (COST-BENEFIT ANALYSIS); AND THE RECONCILIATION OF THE USUAL CRITERIA OF COST-BENEFIT ANALYSIS WITH MULTI-PERIOD BUDGET CONSTRAINTS. EACH PHASE IS ILLUSTRATED WITH REFERENCE TO A PRACTICAL PLANNING PROBLEM, THE FIRST TWO IN RELATION TO THE RECENT UNDP ROAD STUDY IN ETHIOPIA. /TRRL/

  • Authors:
    • Heggie, I G
  • Publication Date: 1972

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Filing Info

  • Accession Number: 00202527
  • Record Type: Publication
  • Source Agency: Transport and Road Research Laboratory (TRRL)
  • Files: TRIS
  • Created Date: Jun 5 1974 12:00AM