Optional
one day short course – to be held on Thursday 29 May 2003
Description
The course introduced the subject of
economic evaluation of transport infrastructure projects in general,
and projects that have impacts on public and private passenger
transport 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, so that participants can
understand the context, objectives, approach and use of economic
evaluation.
The course also addressed other types
of evaluation to give participants a broader perspective of the
role and practice of economic evaluation. Particular consideration
was given to multi-criteria analysis that encompasses the objectives
of triple-bottom line evaluation.
Practical experience was gained through
the economic evaluation of several public transport projects,
including a bus interchange and a busway project, and establishing
the structure for a multi-criteria analysis.
Who Attended
The course was beneficial to staff of
government agencies and consultants who are involved in planning
and evaluation of transport projects, and for those who manage
and use the results of such evaluations.
Course Outcomes
At the end of the course, participants:
» have an appreciation of the role, scope
and practice of economic evaluations;
» understand the data needs of an economic
evaluation of public transport projects;
» know the method for evaluating transport
infrastructure projects;
» have completed an evaluation of a demonstration
project;
» are able to interpret the results of
economic evaluations;
» appreciate differences between economic
evaluations and other types of evaluation; and
» have been introduced to principles for
the sound practice of multi-criteria analysis.
Course Leader
David Bray is the principal of Economic
and Policy Services Pty Ltd. He holds degrees in economics and
engineering, and has 30 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 twenty
other countries. He has prepared economic evaluations for a wide
range of public transport and road projects for Governments in
Australia and for international agencies such as the World Bank,
the International Finance Corporation and the Asian Development
Bank.
Program
9:00 Session 1- Introduction
and Principles
Objectives of the course; structure of an economic evaluation;
limitations of economic evaluations.
Session 2 - Transport Demand
What transport demand information is needed; current demand; latent
demand; future demand.
Session 3 - Transport Costs
Infrastructure costs; road transport costs; public transport costs;
financial and economic costs.
10:40 Morning Tea
11:00 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.
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
12:30 Lunch
1:30 Session 6 - Economic Evaluation Case Studies
Illustration of economic evaluations of a bus interchange and
a busway project.
3:00 Afternoon Tea
3:20 Session 7 - Multi-Criteria Analysis
Need for MCA, use in other countries; avoiding double-counting;
establishing evaluation criteria; assessing impacts; link to economic
evaluation; single and multiple score MCA; impact mapping.
5:30 Close
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