Transport Project Evaluation: Integrating Cost-Benefit and Multi-Criteria Examination by the Use of Segregated Investment Return Rates (SIRR)

Two main project evaluation approaches exist: cost-benefit analysis (CBA) and multi-criteria analysis (MCA). Related to a European road evaluation method (EURET 1.1) and the MCA-method, WARP, the paper proposes a set of so-called segregated investment return rates (SIRR) to integrate advantages of CBA with those of MCA. The SIRR methodology is demonstrated by use of so-called rank variation graphs provided by the WARP decision support PC-programme. In conclusion the SIRR methodology is seen as promising as it can integrate the most valuable attributes of CBA and MCA in quantitative evaluation methodology and at the same time in factual decision-making can help organizing complex evaluation information in an intuitively understandable way to decision-makers.