Critical of benefit estimation and sensitivity and risk analysis in relation to road projects - Literature review Example

Only on StudentShare

Extract of sample
Critical of benefit estimation and sensitivity and risk analysis in relation to road projects

Financial benefits cover only monetary benefits while economic benefits cover both financial and non-financial. Economic benefits are also called social benefits. In general, one can assert that that there are no big issues with regard to monetary benefits estimation. However, estimation of economic benefits can be problematic. Estimation of economic benefits can be described as valuation. A distinct approach to valuation of projects and initiatives is one by Musgrave and Musgrave (1989, p. 137-143). In Musgrave and Musgrave’s approach, the value of projects and initiatives can be assessed based on gross benefits and costs. Based on gross benefits and costs, some of the fundamental measures that can be used to assess the value of a project or initiative can be the present value of net benefits, benefit-cost ratio, and internal rate of return. Other supplementary measures that can be used are measures such as the payback period. Lately, however, the World Bank has been reported to be shying away from these measures and have emphasized instead on the need to focus on objectives, particularly in defining and justifying objectives, and pointing out that a project or initiative is the least cost way of attaining the objectives (McElhinny 2010, p. 1). Nevertheless, economic benefit-cost analysis is still widely used by many countries of Europe (Odgaard et al. 2005, p. 18). ...Show more

Summary

Estimating Benefits and Sensitivity and Risk Analyses for Road Projects Estimating benefits is the basic rationale for assessing the worthiness of proposed projects for funding. Sensitivity and risk analyses are some of the tools in the appraisal of benefits from a proposed project…
Author : smithamcicero
Critical review of benefit estimation and sensitivity and risk analysis in relation to road projects essay example
Read Text Preview
Save Your Time for More Important Things
Let us write or edit the literature review on your topic
"Critical review of benefit estimation and sensitivity and risk analysis in relation to road projects"
with a personal 20% discount.
Grab the best paper

Related Essays

Critical Review
Modern developments led by Western scholars have insisted on scientific realities grounded in positivism and therefore emphasizes the reductionist approach to scientific knowledge (Nelson, 2006). In other words, Nelson (2006) argues that the divide between science and religion is a result of a growing tendency of scientists to focus on testing theories by reference to observable and quantifiable results.
8 pages (2000 words) Literature review
Critical Literature Review
94) At the start of his book on the self and modernity Giddens uses the analogy of divorce to explain the extra pressures that modernity brings to people. Although traditional society was always subject to unforeseen events and even catastrophes, interpersonal relationships in previous times tended to require more stable and fixed modes of behaviour.
7 pages (1750 words) Literature review
Critical Literature Review
Implementing an innovative idea can be by the virtue of introducing new technology, new process, new hierarchy or way of operating or even new legislation. This review is to critically examine innovation in governance. Every public sector organization around the world will have its own limitations to invest money, time, increase number of people and allocate resources to a certain innovation project.
6 pages (1500 words) Literature review
Critical Literature Review
Although, there is no universal definition for SMEs and businesses are usually gauged in terms of turnover and number of employees to define their size and nature of business. In United Kingdom a small enterprise is supposed to comprise of maximum 25 employees with a turnover of around ?
6 pages (1500 words) Literature review
Critical literature review
However, theoretically, there can be many ways to learning medicine, reading books, listening lectures and discussing medical jargons with colleagues can be of a limited use. Such learning only increases knowledge not understanding that is more needed than cramming dozens of medical jargons.
12 pages (3000 words) Literature review
Critical Literature review
Corporations need to be answerable to two aspects of their activities. The quality of management in the utilization of labor as well as execution of business processes comes first. Secondly, corporations need to be answerable of the nature and quantity of their effect on society in various aspects.
6 pages (1500 words) Literature review
Article Critical Review
The main findings of the article are that some people react negatively, and others positively depending on their thought of why their superior has sent to them the friend request.
3 pages (750 words) Literature review
Critical review for academic article
It focuses on determining whether practical work is a source of motivation for students learning secondary school science. There are different ideas presented through a report from a research conducted on several case studies to support the idea that practical work motivates students especially at the lower levels of education.
4 pages (1000 words) Literature review
Critical review of paper
Recent studies have shown that the attitudes of medical students reveal what types of skills are considered important in undergraduate studies, specifically with how this affects the
4 pages (1000 words) Literature review
Critical review of Environmental Statements
Implementing the EMAS system in the organisation indicates that there is a desire to assess and develop environmental competencies and to enlighten the general public along with other associated parties about liable management
8 pages (2000 words) Literature review
Get a custom paper written
by a pro under your requirements!
Win a special DISCOUNT!
Put in your e-mail and click the button with your lucky finger
Your email
YOUR PRIZE:
Apply my DISCOUNT