The table below lists a selection of detailed technical guidelines relevant to the Economic Appraisal of projects. The Project Team may wish to refer to these guidelines to support a robust estimation of project benefits and economic costs for the Economic Appraisal.
Document | Relevance |
|---|---|
CBA methodology guidelines |
|
Infrastructure Australia: Assessment Framework – Guide to economic appraisal, July 2021 | Includes substantial detail on Infrastructure Australia’s preferred methodology for Economic Appraisals, including detailed technical notes on:
The paper also discusses the measurement of land use impacts and the estimation of wider economic benefits (WEBs). |
New Zealand Transport Agency: Economic Evaluation Manual, 2018 | Outlines the concepts underlying Economic Appraisals, and provides detailed guidelines on undertaking the appraisal (particularly for transport investments). The guidelines also provide suggested parameter values that may be useful when estimating certain benefits, including agglomeration (productivity) benefits. |
NSW Government: Guide to Cost-Benefit Analysis, February 2023 | Provides information on the features and limitations of a CBA, as well as detail on key components of the analysis including determination of discount rates, dealing with risk and uncertainty in a CBA and the differences between a CBA and financial appraisal. |
Provides guidance on the development of an economic evaluation of investment proposals. Includes general information and an overview of the economic evaluation process; as well as detailed information on specific aspects of evaluation such as valuation techniques, valuation of complex benefits, discounting, and shadow prices and market prices. | |
Includes Project Proposal Report (PPR) templates for land transport infrastructure projects, which the Project Team may find useful if the project involves Commonwealth Government funding under the National Partnership Agreement (NPA). | |
Transport project appraisals | |
Provides substantial guidance on the estimation and monetisation of benefits and economic costs relating to transport projects. Includes a comprehensive catalogue of parameter values and valuation methodologies (Appendix 4), including the value of time for business and private purposes, vehicle operating cost parameters and parameters for congestion, safety and environmental impacts. | |
Australian Transport Assessment and Planning (ATAP) Guidelines | Includes detailed information on tools, techniques and parameter values for Economic Appraisals relating to transport projects. Also provides mode-specific guidance (for public transport, road, rail and active travel projects), as well as links to additional technical guidance. |
Provides a framework for appraisal of transport investment and initiatives, including detail on techniques for estimating benefits relating to transport investments. | |
Wider Economic Benefits | |
Provides detailed information on estimating WEBs, including induced investment, employment effects and productivity/agglomeration impacts. | |
New Zealand Transport Agency: Wider economic impacts of transport investments in New Zealand, 2011 | Includes a literature review of other sources on the estimation of WEBs, as well as a detailed methodology for the estimation of various impacts including imperfect competition, increased competition, labour supply and productivity effects. |
Appendix 12 includes information on the assessment of WEBs in relation to transport projects. | |
Australian Transport Assessment and Planning (ATAP) Guidelines | Provides substantial guidance on the estimation of WEBs in appraisal of transport initiatives. |
Footnotes: