Improving the Effectiveness of Public Spending on Transport Infrastructure

Abstract

The highways network is the backbone of every national transport system and plays a strategic role in a country’s economic development. With regards to the large investments, operational and maintenance costs that it requires, sound asset management and a thorough economic appraisal of investments are of high importance. Therefore, it is appropriate to analyse and possibly modify existing methods for evaluating the economic efficiency of road construction and asset management at the scientific level, with the support of the real practice experience. Our research concentrates on an evaluation of the current approach to the asset management of the transport infrastructure, methods of economic appraisal, their consecutive improvement,  incorporation of the LCCA agenda and an evaluation of environmental and social aspects in the investment decision process. Consequently, it focuses on the possibilities for improving the effectivity of these aspects through the proposal of very concrete measures based on the results of our research and the experience of real practice management construction.