The Transport for NSW Cost–Benefit Analysis Guide (2024) provides a structured framework for evaluating transport projects using economic appraisal. It outlines principles and procedures for identifying, quantifying, and monetising the costs and benefits of transport initiatives across the NSW transport system. The guide supports investment decisions by comparing project options against a baseline scenario to determine their net economic value. Key benefits assessed include travel time savings, vehicle operating cost reductions, reliability improvements, safety benefits, and environmental impacts. Costs include capital investment, operating and maintenance expenses, and mitigation measures. Future costs and benefits are discounted to present values to calculate indicators such as Net Present Value (NPV) and Benefit–Cost Ratio (BCR). The methodology also incorporates risk analysis, sensitivity testing, and distributional analysis to ensure transparent, consistent, and evidence-based decision-making in transport infrastructure planning.
