The project was funded by the Centro de Estudios y Experimentación de Obras Públicas (CEDEX) of the Ministerio de Fomento under the 2007 Scientific Research Projects programme. It was linked to the Strategic Plan of Infrastructure and Transportation in the framework of the National Plan of Scientific Research, Technological Development and Innovation (2004-2007).
This project aimed to develop a specific methodology for the economic analysis of transport projects to be used as a reference tool for the socio-economic and financial evaluation of transport projects in Spain.
The main objective was to produce a tool to perform socio-economic and financial evaluation of transport projects within the framework of the Strategic Plan of Transport and Infrastructures (PEIT). The project involved several case studies.
To develop this project, several methodological strategies were followed:
- Review of the current main models of economic evaluation of investment projects, identifying differences and possibilities for homogenisation.
- Development of a specific framework for the economic and financial evaluation of infrastructure and transport services in order to evaluate costs and benefits of all economic agents involved.
As an extension of the above, an individualised analysis was undertaken of the most important aspects in the economic and financial evaluation of transport projects. These were:
- Elements related to the prediction of the demand of transport infrastructures and services, as well as the influence of this prediction on the evaluation of the projects.
- Problems associated with the cost estimation in transport, including the operators as well as the users.
- Factors related to the measurement of the external effects associated with transport projects (pollution, congestion, security), as well as their influence on the evaluation of projects (ex-ante and ex-post).
- The comparative analysis of different possible scenarios of institutional design (contract, regulation) for the construction as well as the running of projects.
- The measurement and quantification, in each case, of the impact of the transport projects on equity, income and territorial distribution, taking into account the heterogeneity of the starting situations.
The GUIDE ON ECONOMIC EVALUATION OF TRANSPORT PROJECTS was the key result of the research project entitled Socio-economic and financial evaluation of transport projects (PT2007-001-IAPP) and is available under the Documents tab.