Abstract
The paper describes decision making process based on economic evaluation, i.e. Cost Benefit Analysis for motorway bypass of the Presov city. Three variants were evaluated by means of the Highway Development and Management Tool (HDM-4). HDM-4 is a software system for evaluating options for investing in road transport infrastructure. Vehicle operating costs and travel time costs were monetized with the use of the software. The investment opportunities were evaluated in terms of Cost Benefit Analysis results, i.e. economic indicators.
Highlights
Project of road infrastructure are concurrently assessed by means of cost benefit analysis (CBA)
Cost benefit analysis consist of four types of analysis: financial analysis, economic analysis, sensitivity analysis and risk analysis
The best variant was chosen according to economic indicators calculated in the CBA
Summary
Project of road infrastructure are concurrently assessed by means of cost benefit analysis (CBA). For the evaluation of road infrastructure, paramount is the economic analysis, which is not evaluated only through financial flows, but, in addition, identification and quantification of societal benefits. These social impacts are: travel time savings, reduction of accident rate, vehicle operating costs savings, reduction of noise levels and reduction of pollution. These effects are identifiable in practice, but their quantification is difficult. The best variant was chosen according to economic indicators calculated in the CBA
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