Developing a framework for assessing the economic performance of highway projects in Sri Lanka

Abstract

Empirical evidence demonstrates that transport networks create positive and negative impacts on the economy and society. Therefore, assessing these impacts via project evaluations is essential. As evidenced in the literature, conducting project evaluations, post-operationalization, provides many benefits. However, many countries do not conduct post-project evaluations consistently, or these are performed for shorter periods, due to little emphasis on their importance in evaluating the socio-economic impact, methodological challenges, and unavailability of data on the project, especially in low-income countries. Sri Lanka is not an exception to this rule as many road projects are not evaluated post-operationalization. Hence, this paper focuses on developing a standardized framework for post-project evaluations of road projects considering both direct and indirect economic benefits, by utilizing a Cost-benefit analysis and a wider-economic impact assessment, respectively. The Southern Expressway has been selected as the case study to conduct an in-depth analysis, utilizing the above framework, as it is one of the most significant infrastructure projects in Sri Lanka.