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Public Transport: Economic Investment Appraisal

Ferreira, Luis (2005) Public Transport: Economic Investment Appraisal. QUT.

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Abstract

This report has been prepared in response to a brief from Queensland Transport (Integrated Transport Planning Division). The main objective of the work is to produce a summary of available evidence on how to capture economic impacts of public transport projects within the context of multi-modal transport evaluation.

The assessment of Public Transport (PT) is essentially the trading-off of conflicting objectives, laden with technical, socio-economic, environmental and political value judgements. This may apply to PT initiatives related individual projects, as well as strategies, policies and plans either at the local, corridor or regional levels.

When undertaking an economic assessment of PT initiatives it would appear sensible to follow the same economic principles which underpin all other transport economic evaluations, namely the welfare economic theory and practice used in cost-benefit analysis work.

The perceived rigour in the evaluation of road network based passenger and freight related transport projects stems from:

• the use of well established transport modelling techniques to estimate impacts • the use of cost-benefit analysis (CBA) when carrying out evaluations.

The same level of rigour can be applied to PT initiatives given the availability of the same techniques and the applicability of the same underlying principles.

The same approach can be adopted whether the PT initiatives relate to individual capital projects or to a set of policies or strategies. The difference between the economic evaluation of road projects and that of PT initiatives has to do with the degree of difficulty in quantification of impacts.

Impact and interest:

Citation countsare sourced monthly from Scopus and Web of Science® citation databases.

These databases contain citations from different subsets of available publications and different time periods and thus the citation count from each is usually different. Some works are not in either database and no count is displayed. Scopus includes citations from articles published in 1996 onwards, and Web of Science® generally from 1980 onwards.

Citations counts from the Google Scholar™ indexing service can be viewed at the linked Google Scholar™ search.

ID Code: 2415
Item Type: Report
Additional Information: For more information, contact author l.ferreira@qut.edu.au
Keywords: public transport planning, economic transport evaluation, transit impacts
Subjects: Australian and New Zealand Standard Research Classification > ENGINEERING (090000) > CIVIL ENGINEERING (090500) > Transport Engineering (090507)
Divisions: Past > QUT Faculties & Divisions > Faculty of Built Environment and Engineering
Copyright Owner: Copyright 2005 Luis Ferreira
Deposited On: 07 Nov 2005
Last Modified: 09 Jun 2010 22:28

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