Cost-Benefit Analysis for Infrastructure Projects
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Infrastructure plays a vital role in all societies and infrastructure projects are usually the largest investment items within a budget. However, they are also among the most controversial because their sheer size and long-term impact can result in costly mistakes. Debates about infrastructure projects range from whether they are worth their cost, whether their proposed scales are appropriate and when the optimal time is to implement them. Decisions on infrastructure projects must rely on a science-based, cost-benefit analysis that helps evaluate the value for money of these significant investments.
This course is designed to provide the skills required to perform cost-benefit analysis for infrastructure projects. It covers a range of knowledge, from fundamental concepts to practical exercises using real-life examples. With the knowledge gained in this course, you will be ready to confidently deliberate infrastructure decisions and settle the debate
This is a one-day course with four sessions, 1.5-2 hours each. Participants will start with fundamental concepts in economics and financial planning and move up to working with real-life examples in computers. There are no formal prerequisites, though prior experience with Microsoft Excel and familiarity with the real-life interest rate concept will help move faster. Participants will work on evaluating the cost-effectiveness of infrastructure projects, ranking multiple options if any, and when appropriate, determining the optimal timing. The course also discusses, with practical examples from Australia, approaches to making use of available data, examining the robustness of results as well as taking into account practical considerations in evaluating the cost-effectiveness of infrastructure projects.