Economic effectiveness of road safety measures

Economic effectiveness of road safety measures: problems of evaluation

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Elena Oleshchenko

The following tasks should be tackled when evaluating economic effectiveness of various road safety projects: (1) evaluations of absolute effectiveness of measures; (2) comparative effect (comparison of advantages of one action another); (3) selection of the most effective from the available project of measures. First, however, the following questions should be addressed: (1) What components of effect are to be included in the system evaluation of the project? (2) What unit factors are to be used to measure these components? (3) How should one compare these types of effects one with another and which ones are preferable? (4) How should one use the results of measures and evaluations of effects for decision-making? The main method of decision making in international practice is the cost-benefit analysis, which allows the setting up of priorities in the implementation of measures, and defining the necessary volume of expenditure on these measures. All costs and benefits are expressed in monetary values.

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