Developing a methodology for evaluating privately operated toll road projects using stochastic cost-benefit analysis

The conventional economic assessment of infrastructure projects using Cost-Benefit Analysis does not consider the differences between when the project is delivered by public or private sectors. This research has developed a novel methodology that considers whether the project is delivered publicly or in a partnership with private sector. This means that, for instance, for a toll road project, the methodology assesses whether it is more beneficial to be operated by government agencies or by private toll operator. The methodology can be incorporated in the existing infrastructure project assessment framework and would particularly be useful when project delivery options are considered.