THE EFFECTIVENESS OF ROAD PROJECTS: A METHODOLOGY FOR CALCULATING INDICATORS AND AN EVALUATION ALGORITHM
The paper covers issues of methodology of efficiency evaluation of road operation and construction. It describes main types of efficiency of road projects: public, commercial and budget. Also, the work contains methods of calculation main metrics of efficiency of road operation and construction projects (integral effect or net present value, investments returns index, IRR, payback period) and reveals metrics of results and costs in terms of calculated efficiency of a road project. The paper determines the essence of economic environment which matters in valuation of commercial and budget efficiency of a road project. It discovers main technical and economic parameters of operational status of a road network or its elements and provides algorithm of cost-benefit analysis of a public road.