Short Course   

• • Short Course on Economic Evaluation of Public Transport Infrastructure Projects

"Congratulations on organising the preconference short course by David Bray. It was an excellent course..."
Lyn Martin
Bureau of Transport Economics, Australia

"Thank you and my compliments to David Bray for his insightful course."
Paul Maloney
Transfund New Zealand

Date ::  Tuesday 17 October 2000
in conjunction with the Smart Urban Transport conference
Time ::  9:00am – 5:30pm 
Venue ::  Hilton Brisbane, 190 Elizabeth Street, Brisbane Australia

The course may be re-run in 2001. If people are interested please contact Professor Phil Charles.

Description ::
The course introduced the subject of economic evaluation of transport infrastructure projects in general, and public transport projects in particular. It was of interest to managers who need to understand the intent, practice and interpretation of such evaluations, and to transport professionals who are involved in undertaking evaluations.

The course outlined principles that underlie economic evaluations, and the framework for the economic evaluation of transport infrastructure proposals, concentrating on public transport projects, so that participants understood the context, objectives, approach and use of economic evaluation.

Practical experience was gained through the economic evaluation of several public transport projects, including a bus interchange and a busway project. Brief consideration was also given to the economic evaluation of other transport projects, and to other types of evaluation, to give participants a broader perspective of the role and practice of economic evaluation.

Course outcomes ::
At the end of the course, participants:
¤ had an appreciation of the role, scope and practice of economic evaluations;
¤ understood the data needs of an economic evaluation of public transport projects;
¤ knew the method for evaluating public transport infrastructure projects;
¤ had completed an evaluation of a demonstration project;
¤ were able to interpret the results of economic evaluations; and
¤ appreciated differences between economic evaluations and other types of evaluation.

Course Leader ::
David Bray is the principal of Economic and Policy Services Pty Ltd.  He holds degrees in economics and engineering, and has 27 years of professional experience as a consultant and government employee.  He has worked mostly in the transport and urban development sectors in Australia, and in eighteen other countries. David has prepared economic evaluations for a wide range of public transport and road projects for Governments in Australia and international agencies such as the World Bank and Asian Development Bank.

Course Outline
9:00   Commence
Session 1.  Introduction and Economic Principles
Objectives of the course; structure of an economic evaluation; economic principles that are relevant to the economic evaluation of projects – the role of markets, community welfare, opportunity cost, time preference rate, financial and economic values; base case and project case.
Session 2.  Transport Demand
What transport demand information that is needed; current demand; latent demand; future demand
10:40 – 11:00   Morning break
Session 3.  Transport Costs
Infrastructure costs; road transport costs; public transport costs; financial and economic costs.
Session 4.  Project Benefits
Identifying the effects of a project; estimating the gains and losses that are incurred by government, operators, users and others; valuing gains and losses
12:30 – 1:30   Lunch
Session 5.  Project Evaluation
Elements of an economic evaluation; evaluation period; determining costs and benefits; discounting; output parameters - benefit-cost ratio, internal rate of return, present value; sensitivity tests; brief overview of other types of evaluation - financial evaluation, financial statements, multi-criteria evaluation.
2:30 – 2:45   Afternoon break
Session 6.  Economic Evaluation Case Studies
Illustration of economic evaluations of a bus interchange and a busway project; speaker on Queensland and national evaluation practice.
5:30  Close
Disclaimer – The information contained in this page is correct as at 1 September 2000.
Transport Roundtable Australasia Pty Ltd reserves the right to change any aspect of the course without notice.

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