Broadening the Scope of Transport Appraisal to Capture the Full Impact of Investments Roundtable
Cost-Benefit Analysis (CBA) has long had a central role in transport and other infrastructure project appraisal in OECD countries. It provides an accepted and broadly consistent framework for quantitative evaluations of project performance and comparisons of the merits of different potential projects. However, it has also been criticised as limiting analysis to those impacts most readily quantified and monetised.
CBA methodology continues to develop, and guidance documents increasingly require or encourage a wider range of impacts in the analysis. This tendency is both the result of a desire for more complete analysis and a response to critics who have questioned the primacy of CBA (ITF 2021).
This Roundtable reviews improvements in appraisal and ensures that, in addition to analysing options in value for money terms - the traditional focus of CBA - analysis focuses on the declared strategic objectives of investment policy.
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