Abstract
Research background: The problem of evaluating the results of innovative transport technologies is extremely important for their implementation and realization. The assessment of possible benefits of innovative transport projects is complicated by a number of circumstances. These include a wide range of arising effects in various forms and the long life cycle of the project, which increases the difficulty of reliably measuring the various costs and results. Thus, it can be argued that outdated approaches and methods for assessing the new transport products hinder the development of innovations. Purpose of the article: to identify directions for assessing the travel time value in the analysis of the transportation projects economic efficiency. Methods: The study was conducted by means of scientific methods such as the comparative analysis, system method, generalization and abstraction. Also, we use the results of expert assessments based on depth-in interviews. Findings & Value added: The article substantiates the necessity of taking into account the incremental benefits for passengers from travel time reduction as the most important aspect of transport projects implementation, ensuring the formation of the whole range of external social and economic effects; The multi-factor dependence of the travel time value for a passenger, which is characterised by its heterogeneity during a journey, has been substantiated. The necessity of assessing changes of travel time values in the general transport costs of passengers has been substantiated, taking into account the several factors that lead to different time values. A visual model of the socio-economic effects formation of the HSR project, caused by changes in the passengers’ total transport costs and increased transport accessibility of the region, is proposed.
Highlights
The problem of choosing relevant economic evaluation tools is extremely important for the implementation of investment projects
We find the following documents most interesting from the perspective of the proposed tools and methods used to assess the wider economic impacts of transport projects, in particular evaluation of the travel time reduction benefits, which were selected for comparative analysis: 1) Transportation Cost and Benefit Analysis Techniques, Estimates and Implications (Litman, 2009); 2) DfT U
It should be noted that the logic and sequence of the economic evaluation procedure in the above appraisal guidelines are similar in a number of fundamental points - the principles and main indicators of project efficiency evaluation are analogous
Summary
The problem of choosing relevant economic evaluation tools is extremely important for the implementation of investment projects. A further complication is duration of large projects’ life cycles, which makes it difficult to obtain a reliable assessment of the various costs and benefits. These factors make it necessary to improve the existing approaches to the economic evaluation of investments, especially when the project includes the introduction of innovative technologies, the benefits of which are ignored by the standard methods. We are interested in the reflection of socio-economic externalities in the evaluation methods for transport projects - the range of the arising effects, tools for their analysis and subsequent interpretation in the general scheme of investment justification.
Sign-in/Register to view highlights & summary Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
