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Transportation Project Evaluation Methods/Approaches

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  • M. Rouhani, Omid

Abstract

In this paper, I briefly review the key methods to evaluate transportation projects. These methods are: Financial analysis; Cost benefit (economic analysis); Multi-criteria analysis; Cost-effectiveness analysis; Social welfare analysis; and Risk analysis (Monte Carlo simulation). The importance of understanding these methods lies in the fact that transportation projects offer huge social benefits and costs; some are impossible or very complex to measure in monetary terms.

Suggested Citation

  • M. Rouhani, Omid, 2019. "Transportation Project Evaluation Methods/Approaches," MPRA Paper 91451, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:91451
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    File URL: https://mpra.ub.uni-muenchen.de/91451/1/MPRA_paper_91451.pdf
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    References listed on IDEAS

    as
    1. Poorzahedy, Hossain & Rouhani, Omid M., 2007. "Hybrid meta-heuristic algorithms for solving network design problem," European Journal of Operational Research, Elsevier, vol. 182(2), pages 578-596, October.
    2. Booth, Peter & Schulz, Axel K. -D., 2004. "The impact of an ethical environment on managers' project evaluation judgments under agency problem conditions," Accounting, Organizations and Society, Elsevier, vol. 29(5-6), pages 473-488.
    3. Rouhani, Omid M. & Oliver Gao, H., 2014. "An advanced traveler general information system for Fresno, California," Transportation Research Part A: Policy and Practice, Elsevier, vol. 67(C), pages 254-267.
    4. Rouhani, Omid M. & Niemeier, Debbie & Knittel, Christopher R. & Madani, Kaveh, 2013. "Integrated modeling framework for leasing urban roads: A case study of Fresno, California," Transportation Research Part B: Methodological, Elsevier, vol. 48(C), pages 17-30.
    5. Dey, Prasanta Kumar, 2006. "Integrated project evaluation and selection using multiple-attribute decision-making technique," International Journal of Production Economics, Elsevier, vol. 103(1), pages 90-103, September.
    6. Nocera, Silvio & Tonin, Stefania & Cavallaro, Federico, 2015. "The economic impact of greenhouse gas abatement through a meta-analysis: Valuation, consequences and implications in terms of transport policy," Transport Policy, Elsevier, vol. 37(C), pages 31-43.
    7. Rouhani, Omid M. & Knittel, Christopher R. & Niemeier, Debbie, 2014. "Road Supply in Central London: Addition of an Ignored Social Cost," Journal of the Transportation Research Forum, Transportation Research Forum, vol. 53(1).
    8. Nayer Daher & Farhana Yasmin & Min Ru Wang & Ehsan Moradi & Omid Rouhani, 2018. "Perceptions, Preferences, and Behavior Regarding Energy and Environmental Costs: The Case of Montreal Transport Users," Sustainability, MDPI, vol. 10(2), pages 1-20, February.
    9. Knut Samset & Tom Christensen, 2017. "Ex Ante Project Evaluation and the Complexity of Early Decision-Making," Public Organization Review, Springer, vol. 17(1), pages 1-17, March.
    10. Omid M. Rouhani, 2016. "Next Generations of Road Pricing: Social Welfare Enhancing," Sustainability, MDPI, vol. 8(3), pages 1-15, March.
    11. Omid M. Rouhani & H. Oliver Gao, 2016. "Evaluating Various Road Ownership Structures and Potential Competition on an Urban Road Network," Networks and Spatial Economics, Springer, vol. 16(4), pages 1019-1042, December.
    12. Diewert, W. E., 1983. "Cost-benefit analysis and project evaluation : A comparison of alternative approaches," Journal of Public Economics, Elsevier, vol. 22(3), pages 265-302, December.
    13. Pohl, Gerhard & Mihaljek, Dubravko, 1992. "Project Evaluation and Uncertainty in Practice: A Statistical Analysis of Rate-of-Return Divergences of 1,015 World Bank Projects," The World Bank Economic Review, World Bank, vol. 6(2), pages 255-277, May.
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    Cited by:

    1. Rouhani, Omid, 2023. "Public Policy: A science and/or a Field?," MPRA Paper 118121, University Library of Munich, Germany.
    2. Rouhani, Omid, 2021. "Transportation Project Evaluation Methods/Approaches- Version 2," MPRA Paper 105729, University Library of Munich, Germany.

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    More about this item

    Keywords

    Project evaluation methods; Transport projects; Social cost benefit analysis; Multi-criteria analysis; and Social welfare analysis.;
    All these keywords.

    JEL classification:

    • H43 - Public Economics - - Publicly Provided Goods - - - Project Evaluation; Social Discount Rate
    • R42 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics - - - Government and Private Investment Analysis; Road Maintenance; Transportation Planning
    • R58 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis - - - Regional Development Planning and Policy

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