New tool: A free shorthand cost-benefit analysis tool for bus transport projects
The GI Hub today launches a shorthand cost-benefit analysis tool for analysing the environmental, social, and economic (ESE) benefits of bus transport projects.
The tool helps governments and project teams make early-stage decisions about infrastructure by enabling them to define and articulate the ESE benefits of potential bus transport projects in a quicker, more accessible, and more affordable manner.
In addition to launching this tool for use, we are also taking comments on future development, including suggestions on other data tools that enable the consideration of ESE benefits for infrastructure projects. Learn more below.
Why we created this tool
For many cities and municipal authorities, the cost of conducting a cost-benefit analysis is prohibitive until the project concept is well advanced. Few have specialised experts in-house, and outsourcing can be expensive when having to consider multiple scenarios. And yet, a lack of cost-benefit analysis complicates early-stage decisionmaking and may inhibit the further development of projects that could provide important societal benefits.
What it does
Working with leading experts at Deloitte, the GI Hub created a shorthand tool for bus transport projects that estimates:
- Benefit-cost ratio (BCR)
- Economic rate of return (ERR)
- Multipliers (impact per $1 of investment)
- ESE benefits – including distribution of benefits by gender and income group.
Who it’s for
Policymakers, project proponents, and project teams can use the tool to create an initial evidence base for allocating resources, articulating potential societal impacts, and helping inform planning and design to align with intended impacts.
The tool does not require specialised cost-benefit analysis or transportation planning expertise. It incorporates a fully-fledged cost-benefit analysis within a shorthand tool that is widely accessible to non-experts.
We are inviting users to download and use the tool, and comment on factors like ease of use and value added. We would also like to hear your suggestions on other data tools that enable the consideration of ESE benefits for infrastructure projects.
Access the tool and share your suggestions here.