Validity of feasibility studies for infrastructure construction projects
Joint Authors
Source
Jordan Journal of Civil Engineering
Issue
Vol. 3, Issue 1 (31 Mar. 2009), pp.66-77, 12 p.
Publisher
Jordan University of Science and Technology Deanship of Research
Publication Date
2009-03-31
Country of Publication
Jordan
No. of Pages
12
Main Subjects
Topics
Abstract EN
Feasibility studies are normally conducted to justify investments in infrastructure projects.
Despite the vital importance of feasibility studies in supporting decisions related to public spending on infrastructure projects, there are no attempts to evaluate such studies after construction of facilities.
An analysis of a previous feasibility study for a highway construction project is presented in this paper with an emphasis on the estimates and forecasts presented in that study in order to weigh expected benefits from the project against expected costs.
The forecasted numbers are compared with actual data collected during the operation phase about the usage of the facility.
The comparison reveals a huge difference between estimated numbers and actual numbers.
Feasibility study calculations are also repeated using the actual data to examine the impact of forecasting errors on the outcome of the feasibility study.
Based on the lessons learned from the analyzed case study, recommendations are presented to improve feasibility studies for infrastructure projects including peer review of feasibility studies, before-and-after feasibility studies, multistage feasibility studies and unified scope and methodology for feasibility studies.
Decision makers are advised to take outcomes of feasibility studies for infrastructure projects with extreme caution as some studies may provide erroneous and misleading input to their decisions regarding investment in infrastructure projects.
American Psychological Association (APA)
Hayyari, Khalid& Qandil, Umar. 2009. Validity of feasibility studies for infrastructure construction projects. Jordan Journal of Civil Engineering،Vol. 3, no. 1, pp.66-77.
https://search.emarefa.net/detail/BIM-284598
Modern Language Association (MLA)
Hayyari, Khalid& Qandil, Umar. Validity of feasibility studies for infrastructure construction projects. Jordan Journal of Civil Engineering Vol. 3, no. 1 (2009), pp.66-77.
https://search.emarefa.net/detail/BIM-284598
American Medical Association (AMA)
Hayyari, Khalid& Qandil, Umar. Validity of feasibility studies for infrastructure construction projects. Jordan Journal of Civil Engineering. 2009. Vol. 3, no. 1, pp.66-77.
https://search.emarefa.net/detail/BIM-284598
Data Type
Journal Articles
Language
English
Notes
Includes bibliographical references : p. 76-77
Record ID
BIM-284598