Customers are at the centre of everything we do at Transport for NSW (TfNSW). We’re delivering the largest transport infrastructure program this nation has ever seen − $55.6 billion of investment over four years to 2022-23 for game-changing projects like Sydney Metro, light rail, motorways and road upgrades. The investment decisions we make today will deliver benefits to the community for decades to come.
When making investments for the people of NSW we need to use an evidence based approach which considers all costs and benefits. Cost-benefit analysis (CBA) does exactly that. It balances a complex set of community considerations against limited resources and is the government’s key tool for promoting value-for-money decision making.
The Transport for NSW Cost-Benefit Analysis Guide (formerly Principles and Guidelines: Economic Appraisal of Transport Investments and Initiatives) sets out the principles, concepts, methodology and procedures, and provides a consistent, best-practice framework to help the NSW Transport cluster conduct CBA. Importantly, the guide steps through a robust framework for decision making, as well as how to organise and present the evidence that supports them. It is supported by a suite of products including user friendly models, technical notes and recommended Economic Parameter Values.
The guide aligns project evaluation to Future Transport Strategy outcomes, promoting their consideration from project conception. The use of this guide is encouraged to ensure we consistently put value-for-money and outcomes for the community at the centre of our expenditure decisions.
The guide can be obtained by reaching out to your project manager, visit our SharePoint site (TfNSW internal access only), or contact the Economic Advisory team at EconomicAdvisory@transport.nsw.gov.au.
The Guide is being continuously improved. Values are regularly updated, and methods periodically reviewed. We welcome all feedback that can help us improve this document. Please direct this to the TfNSW Economic Advisory team at: EconomicAdvisory@transport.nsw.gov.au