A Greater London Branch Presentation
Date: 28 September 2011 Evening Presentation 6.00 for 6.30 p.m.
Value for money and the appraisal of small public transport schemes’
Venue: Jacobs Tower Bridge Court 226 Tower Bridge Road London SE1 2UP
Nearest Tube: Tower Hill/ London Bridge
Speaker: Richard Hibbert, Jacobs
Chair: Michelle Wood
Evidence on the value for money of different types of transport investment has grown considerably since the Eddington report in 2006. Small scale public transport schemes remain an important exception, however, and this is understood to have been a key reason for the substantial decline in related LTP funding in 2010. This presentation draws on research commissioned by the Passenger Transport Executives Group (PTEG) to fill this evidence gap.
By developing a database of schemes obtained from PTEs, TfL and local authorities, we produced an ex-post estimate of value for money using a bespoke Simplified Appraisal Framework. The results suggest that small scale public transport schemes are highly cost effective, with a mean benefit-cost ratio (BCR) of 3.5. The implication is that smaller schemes are, at least, as good a use of public funds as larger transport interventions funded by central government and national infrastructure agencies.
Richard Hibbert, Jacob’s Project Director will present the background to the study, how the study was undertaken, current practice in the appraisal of small public transport schemes, evidence from a sub-set of detailed case studies, and review the development and application of the simplified appraisal framework and study conclusions.
RICHARD JOHN HIBBERT BA (Hons), MSc, PhD, MBA, MCILT
Richard is a Director within our organisation who joined Jacobs Consultancy from Newcastle City Council where he was Head of Transportation Strategy. Richard is a transport consultant with an array of experience in policy development, investment appraisal and project evaluation. He has experience in providing policy advice and financial and economic evaluation of transport infrastructure. Richard’s previous roles include being Head of City Region Transport Strategy for Tyne & Wear and management functions within Newcastle City Council with responsibilities for spatial planning and transport strategy.
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