Reappraisal of a road project in Iran
Van der Tak, Herman G. | De Weille, Jan
An economic reappraisal of a project attempts, after the project has been implemented, to assess its economic costs and benefits. These actual costs and benefits can then be compared to the original figures on which the investment decision was based. This particular study suffers from some specific limitations of data. Although the Iranian road project qualified in terms of the study team's basic requirements - with regard to completion date, available information before and after construction, the quality of "ex ante" analysis and other relevant considerations - the data base was weak in some important aspects. The authors have made a considerable effort to use all available information, even where this required reconstructing or processing "raw" data; they have employed statistical precautions to ensure, so far as possible, the internal consistency of the data. They did not, however, organize special inquiries such as traffic counts. Some of the deficiencies could undoubtedly have been overcome by generating fresh data. Whatever its deficiencies, the authors believe that the present study contributes to practical research in a field which has only recently begun to recieve the attention it deserves.
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