What are the best practices for evaluating transportation projects?

3 Conduct the appraisal

The appraisal is the process of estimating and valuing the costs and benefits of each alternative over the project life cycle. You should use appropriate methods and techniques, such as cost-benefit analysis, cost-effectiveness analysis, multi-criteria analysis, or social return on investment, depending on the nature and complexity of the project and the availability of data and information. You should also account for uncertainty, sensitivity, and distributional effects of the project outcomes.

4 Analyze the results

The analysis is the process of interpreting and presenting the results of the appraisal in a clear and transparent way. You should use tables, graphs, charts, or maps to show the trade-offs, rankings, or scores of the alternatives based on different criteria and perspectives. You should also highlight the key assumptions, limitations, and uncertainties of the analysis and how they affect the results.

5 Consult the stakeholders

The consultation is the process of engaging and communicating with the stakeholders to solicit their feedback, opinions, and preferences on the project evaluation and selection. You should use appropriate methods and channels, such as surveys, interviews, workshops, or public hearings, to reach out to the relevant groups and individuals, such as project sponsors, users, operators, regulators, experts, or communities. You should also address any concerns, questions, or objections that may arise.

6 Make the decision

The final step is to make the decision based on the evidence, analysis, and consultation. You should use a rational and consistent approach that considers the objectives, criteria, alternatives, costs, benefits, impacts, risks, and stakeholder views. You should also document and justify the decision and explain how it meets the project goals and expectations. You should also monitor and evaluate the implementation and performance of the project and learn from the experience.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?