Study On Economic Evaluation Of Highway Construction Projects

With the development of reform and opening-up, our country economy keepsrising steady and healthy, so is the implementation of highway construction. As thepublic infrastructure, highway construction projects have a significant impact in theregion's economic and social environment, so it's necessary to ensure the investmentdecision scientific and rational. Economic evaluation of the projects is an importantpart of a feasibility study, as the important basis for making investment decision andselecting construction scheme, because accurate and reasonable study can reduce theeconomic investment risk and improve the returns. Based on reviewing the theory ofproject economic evaluation, and considering the characteristic of highwayconstruction projects, this paper discusses the financial evaluation and the nationaleconomic evaluation of highway construction project, besides discusses the methodsof risk factor sensitivity analysis, then it proposes a parameter, evaluation indexsystem and the method based on the reality. Firstly, it describes the meaning ofeconomic evaluation and the calculation method of economic evaluation Indicators.Secondly, in the part of financial analysis, it discusses the general procedure and thecontent of financial analysis, and then it defines the range of financial benefits andfinancial costs. In the part of national economy evaluation, it proposed theadjustments and calculation of cost-effective based on defining the scope of economiccosts, and then it described the calculation of the main indicators and evaluationcriteria. In the part of sensitivity analysis, it analyzed the sensitive factors of thehighway construction project and discusses the ways of single factor and multivariatesensitivity analysis. Finally, combining the theory with practice, it made the empiricalanalysis through a case study, applied the theory to practice with innovation.