Rural Bridge Cost Benefit Analysis and Inclusion Within an Investment Program
- Publication no: ABC-LCM203-14
- Published: 22 October 2014
Economic analysis can inform investment decisions around proposed bridge projects. This paper outlines the evaluative techniques and methodologies used in appraising a proposed bridge replacement and approach realignment project located in rural Queensland, Australia.Cost-benefit analysis is used in assessing project benefits including improved flood immunity, reduced crash incidence, maintenance spends, vehicle operating costs, travel time savings, and environmental benefits. The paper outlines considerations for conducting the analysis in line with Austroads guidance materials, and documents expected project benefits.Evaluation results are presented and discussed along with contextual considerations around project viability. Application of best-practice project management and project phases from planning, initiation and development, through to delivery construction and finalisation is considered.Linkages between regionally-based engineered solutions, project evaluation, and coordinated investment strategy are explored, and considerations around project merits other than purely economic benefits discussed. Issues of project prioritisation, program selection and development and program management are discussed in the context of strategic link analysis. The use of investment programs is emphasised, along with processes for inclusion into a strategic investment plan.