Managing transport system investment risk: enhancing patronage predictions and adapting strategic asset management and appraisal processes to account for emerging trends and uncertainty (iMOVE CRC-PATREC, 2019-2020)

Managing Transport System Investment Risk

Governments are responsible for ensuring public funds are invested wisely for the benefit of society. For transport planners and government transport agencies, the uncertainties of emerging technologies and changing trends challenge conventional transportation decision-making, both for long- and short-term planning. The purpose of this project is to adapt key existing planning tools, guidelines and frameworks to account for uncertainty of changing trends and emerging technologies. This will enable the Transport Portfolio of Western Australia to better manage transport infrastructure investment risks. Specific planning instruments targeted: patronage forecasting tools, road asset management guidelines and the transport infrastructure project assessment and prioritisation frameworks.