Economic Evaluations for Infrastructure Works

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Overview

Economic valuations perform two important functions; selecting the economically preferred option for any individual project, and comparing the relative economic merits of different transportation activities. These can range from road maintenance, road and bridge construction, walking and cycling facilities, intersection improvements, safety improvements, public transport, freight services and many more. It is important that transportation funds are used most effectively and that you can demonstrate why a project qualifies for roading subsidy.  

The course is based on the NZ Transport Agency’s Economic Evaluation Manual. It focuses on the basic principles, and provides practical exercises on some of the more commonly used procedures. 

If you are in a role where you or your team needs to decide the best solution for a transportation project or need to provide economic justification for a roading subsidy, then this course will help you understand the basic requirements.

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Length

1 day course.

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Facilitator

Peter Crosby

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Cost

$495 + GST per person

(minimum numbers are required before a course is confirmed)

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Topics include

  • The NZ Transport Agency’s Project Evaluation Manual
  • NZ Transport Agency’s Simplified Procedures spreadsheets
  • The concepts of discounting and Net Present Value
  • The concepts of benefits and costs, and the Benefit/Cost Ratio (BCR)
  • The meaning of ‘Do Minimum’
  • The definition of mutually exclusive options
  • When to use Simplified Procedures, and when to use Full Procedures
  • Workshop examples using the Simplified Procedures spreadsheets
  • An overview of Full Procedures
  • Using an incremental analysis to determine a preferred option
  • Calculating the First Year Rate of Return
  • Understanding the link between BCR and the project funding process
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On completion of this course participants will

  • Understand the concepts of discounting and Net Present Value
  • Be aware of the procedures detailed in the NZ Transport Agency’s Economic Evaluation Manual, and the tools available on their website
  • Understand the use of Simplified Procedures, and have participated in some workshop exercises 
  • Know when a project requires evaluation by Full Procedures, and have an overview of this process
  • Know how to identify a preferred option through an incremental analysis
  • Know how to calculate the First Year Rate of Return
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Who should attend

Transportation Engineers from Local Authorities, Consulting Engineers and the NZ Transportation Agency.

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