The US in recent years has experienced a decline in transportation infrastructure spending, making it more difficult to create new infrastructure or to maintain what already exists. To learn how other countries use transportation investment frameworks to allocate scarce public funds, the US Department of Transportation asked PwC to analyze approaches in five countries.
Our survey looks at the UK, Australia, and Japan, based on the currency and relevance of their transportation investment frameworks as well as for their use of quantitative and qualitative appraisal models. We also study Sweden and Canada to evaluate less quantifiable benefits such as livability, sustainability, and environmental impacts.
These frameworks typically cascade from an overarching government-wide view to a focused project-level view. Each level aligns investment policy objectives and resources to ensure successful project delivery.
Single or multiple appraisal models are used in the investment decision process to assess the merit of various transportation projects.
In several of the countries surveyed, a national body sets the vision for infrastructure investment. For example, Infrastructure UK, established in 2010, creates long-term plans to address national infrastructure needs, coordinating future investment in research, development and innovation.
Allocating scarce public monies to the projects that yield the best return for taxpayer investment is especially critical today. A PwC survey of five countries illustrates how transportation investment frameworks can help prioritize projects an...