The Economic Evaluation of Megaprojects – Social and Economic Impacts

https://doi.org/10.1016/j.sbspro.2014.03.055Get rights and content
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Abstract

In the economic evaluation of megaprojects it is very important to take into account many aspects. Usually the most important aspect is connected with investment and operation costs and their possible overflows and the fulfillment of time period intended for the project. But it is necessary also to monitor impacts of the projects on their surroundings. The HDM-4 model developed by University of Birmingham takes into account impact of transport infrastructure projects in the form of changes in the time consumption, changes in operation costs for vehicles, social costs connected with car accidents and newly impacts on environment. But it is possible to calculate also with other impacts, e. g. impact on economy of related areas, barrier effect caused by highways and motorways, sprawling connected with better availability of urban area, etc. The main objective of the paper is to discuss, which of possible social-economic impacts could be taken in evaluation of particular megaprojects into account and which it is useful or not useful to begin to project into economic evaluation. Very important it is also to discuss the available or new methodology of the projection of specific impacts into the project evaluation.

Keywords

Megaproject
CBA
Whole Life Costs
Socio-Economic Impacts
Costs
Benefits

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