Difference between revisions of "Infrastructure assessment"
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[[Category:Capital planning and project delivery]] | [[Category:Capital planning and project delivery]] | ||
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== Introduction == | == Introduction == | ||
| − | Agencies tend to select projects that, once constructed, do not generate ridership levels that warrant their construction. In short, many project projects are overbuilt and a less costly alternative would satisfy the project need. | + | Agencies tend to select projects that, once constructed, do not generate ridership levels that warrant their construction. In short, many project projects are overbuilt and a less costly alternative would satisfy the project need. The selection of capital-intensive projects contributed to cost overruns and can lead to the reputation of infrastructure projects as mismanaged, wasteful investments. |
| − | A variety of political, financial, and accounting incentives support the construction of projects whose capacities far exceed demand | + | A variety of political, financial, and accounting incentives support the construction of projects whose capacities far exceed demand. These incentives include overestimated ridership from forecast modeling inputs that do not correspond with actual travel behavior and political preference for large, splashy projects. |
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==Strategies== | ==Strategies== | ||
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Use historical cost estimates as comparison | Use historical cost estimates as comparison | ||
Consistently measure across projects | Consistently measure across projects | ||
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Increase cost estimate transparency | Increase cost estimate transparency | ||
Revision as of 00:33, 14 February 2012
Introduction
Agencies tend to select projects that, once constructed, do not generate ridership levels that warrant their construction. In short, many project projects are overbuilt and a less costly alternative would satisfy the project need. The selection of capital-intensive projects contributed to cost overruns and can lead to the reputation of infrastructure projects as mismanaged, wasteful investments.
A variety of political, financial, and accounting incentives support the construction of projects whose capacities far exceed demand. These incentives include overestimated ridership from forecast modeling inputs that do not correspond with actual travel behavior and political preference for large, splashy projects.
Strategies
Improve modeling
Adjust forecast year
Improve cost estimation
Conduct extensive engineering studies before deciding on alternative Reach out to stakeholders Use historical cost estimates as comparison Consistently measure across projects Increase cost estimate transparency