Australian Academy of Technological Sciences and Engineering (ATSE) commends the Overview of Project Appraisal paper prepared by the Bureau of Infrastructure, Transport and Regional Economics, in consultation with state and territory governments.
ATSE believes that effective infrastructure planning and investment is essential to meet the challenges of improving productivity, managing demographic change, delivering enhanced sustainable outcomes and addressing pressures on government budgets.
On 3rd October 2014, ATSE submitted a letter of support to the ‘Overview of Project Appraisal’ paper prepared by the Bureau of Infrastructure, Transport and Regional Economics, in consultation with state and territory governments. The paper highlighted several points that are consistent with the joint ATSE-Infrastructure Australia workshop held in 2013. Infrastructure Planning: Towards Best Practice.
ATSE emphasises the need for cost benefit analyses to capture the costs and benefits accruing from large infrastructure projects as fully as possible. For example, privately owned assets within a certain radius of a particular project may increase in value as a result of proximity to that project. Current CBA approaches do not always capture this benefit. We would recommend that the consultation paper reflect this objective.
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