Introductory article - News developments in the evaluation of road projects
Karl-Josef Höhnscheid (1), Head of Research Controlling, Management of Road Assets and Research Commissioner, BASt, Germany and Chair of PIARC Technical Committee 1.4'Road Transport System Economics and Social Development
As mentioned by Friedrich Zotter in his editorial, the scarcity of financial resources is of growing importance for investment decisions. Therefore, the project appraisal is a deciding step to prove the efficiency of an investment. The assessment of road infrastructure projects has a long tradition and is now performed in many countries thanks to the co-operation between the World Road Association (PIARC) and the World Bank.