ALTERNATE METHODOLOGY FOR CONDUCTING ECONOMIC FEASIBILITY STUDIES OF NEW ROAD PROJECTS

摘要

This research established an alternate methodology to conduct economic feasibility studies of new road projects. New roads are those which had not provided all-year-round motor vehicle traffic services before construction to the present form. The existing methodology is laborious and involves extensive time and document production. Economic feasibility studies of six road projects were carried out using the existing and the proposed methodologies. The study roads were presumed to b e feeder/collector r oads that c onnect r ural a reas with existing primary roads. The alternate methodology focused on weighted averages of production factors rather than on each resource component Resource production and value added were calculated using both methodologies. In addition, regression models were developed for different components of the produce. Statistical tests and analyses were conducted. The alternate methodology produced results that were very close to the conventional one. The proposed methodology is concise, efficient and effective. Based on this research, it is recommended that the proposed methodology be utilized in future economic feasibility studies of new feeder/collector road projects.