The BHAP （Bruce Highway Action Plan） Program Evaluation was a momentous task conducted in most part by the TMR （Transport and Main Roads） CBA （cost benefit analysis） team. The evaluation included 189 overtaking ...The BHAP （Bruce Highway Action Plan） Program Evaluation was a momentous task conducted in most part by the TMR （Transport and Main Roads） CBA （cost benefit analysis） team. The evaluation included 189 overtaking lanes, 404 km of road widening and shoulder sealing in various places between Brisbane and Cairns, 56 capacity focused projects and 16 flood immunity focused projects. The total projected capital costs of all projects proposed as part of the BHAP amounted to over 16 billion dollars. The program evaluation conducted, due to the short timeframes, lack of available data and strategic nature of the plan, has been ＂coined＂ a strategic evaluation. This paper focuses on the methodology applied to the projects proposed in the BHAP. A TMR designed project/program evaluation model （CARP （Concise Analysis of Road Programs） V1.0） was used to evaluate the majority of the proposed BHAP projects. The model produces streams of discounted benefits and costs of the projects and program using limited and incomplete data. The large scale of work and the close proximity of projects allowed for an integrated approach to the analysis, which considered the impact projects have on each other. The result of the program, if all evaluated projects are included, is a BCR （benefit cost ratio） of approximately 0.7l at a discount rate of 7%. If the less viable projects are removed from the program, the program can obtain a benefit cost ratio of greater than 1 with a sufficiently large number of projects remaining.展开更多
The key aspect to the successful implementation of BOT concept is the raising of finance by project sponsor,so financial engineering techniques and capital structuring skills are required to find the proper mix of deb...The key aspect to the successful implementation of BOT concept is the raising of finance by project sponsor,so financial engineering techniques and capital structuring skills are required to find the proper mix of debt and equity.The capital structure and present a model to determine the equity level from the aspects of financing scale,construction time and return on investment are analyzed.The resulting model can help the sponsor to avoid the capital risk,and offer the government a criterion to evaluate management ability of the sponsor.To show the application and availability of this model,a case study is conducted.Thus,this paper is concern with the determination of financing scale,construction time,and return on investment which would assist the sponsor to ensure that the equity level for optimal capital structure is available prior to the implementation stage in BOT project operation.展开更多
文摘The BHAP （Bruce Highway Action Plan） Program Evaluation was a momentous task conducted in most part by the TMR （Transport and Main Roads） CBA （cost benefit analysis） team. The evaluation included 189 overtaking lanes, 404 km of road widening and shoulder sealing in various places between Brisbane and Cairns, 56 capacity focused projects and 16 flood immunity focused projects. The total projected capital costs of all projects proposed as part of the BHAP amounted to over 16 billion dollars. The program evaluation conducted, due to the short timeframes, lack of available data and strategic nature of the plan, has been ＂coined＂ a strategic evaluation. This paper focuses on the methodology applied to the projects proposed in the BHAP. A TMR designed project/program evaluation model （CARP （Concise Analysis of Road Programs） V1.0） was used to evaluate the majority of the proposed BHAP projects. The model produces streams of discounted benefits and costs of the projects and program using limited and incomplete data. The large scale of work and the close proximity of projects allowed for an integrated approach to the analysis, which considered the impact projects have on each other. The result of the program, if all evaluated projects are included, is a BCR （benefit cost ratio） of approximately 0.7l at a discount rate of 7%. If the less viable projects are removed from the program, the program can obtain a benefit cost ratio of greater than 1 with a sufficiently large number of projects remaining.
文摘The key aspect to the successful implementation of BOT concept is the raising of finance by project sponsor,so financial engineering techniques and capital structuring skills are required to find the proper mix of debt and equity.The capital structure and present a model to determine the equity level from the aspects of financing scale,construction time and return on investment are analyzed.The resulting model can help the sponsor to avoid the capital risk,and offer the government a criterion to evaluate management ability of the sponsor.To show the application and availability of this model,a case study is conducted.Thus,this paper is concern with the determination of financing scale,construction time,and return on investment which would assist the sponsor to ensure that the equity level for optimal capital structure is available prior to the implementation stage in BOT project operation.
