Improving the Practice of Transport Project Appraisal
New Publication Highlights International Best Practice
Cost-benefit analysis (CBA) is indispensable for making good decisions on what transport projects to fund. It essentially aims to figure out which projects offer the best value for money. However, the practical relevance of CBA does not always live up to its appeal in principle.
One problem is that there is sometimes disagreement over what to include in CBA, both on the cost side and the benefits side of the analysis. As a result, value for money is not always fully transparent. Another issue is summarising results in a way that speaks directly to the most pressing political concerns – currently jobs and economic recovery.
This concise report examines the extent to which these shortcomings can be addressed. It includes papers on the way CBA is used in three countries – France, Mexico and the United Kingdom – and how it is evolving in response to changing policy priorities.
The report is available now from the OECD bookshop as an E-book (PDF Format) or in Print (Paperback) with a free PDF.
The International Transport Forum at the OECD is an intergovernmental organisation with 52 member countries. It acts as a global think tank for transport policy and organizes an annual summit of transport ministers. Its work is underpinned by economic research, statistics collection and policy analysis. The objective is to facilitate the global exchange of information and to draw operational conclusions for policy-makers.
“Transport for Society” is the theme of the International Transport Forum’s 2011 summit on 25-27 May in Leipzig, Germany. Speakers will include Jeffrey Sachs, Jaime Lerner, Jeremy Rifkin, Peter Voser (Shell), Enrique Peñalosa, Thomas Enders (Airbus), Dieter Zetsche (Daimler). For more information visit www.internationaltransportforum.org/2011 or go directly to our online registration portal.