1999 Volume 1 Issue 3 Pages 047-053
In fiscal year 1997, Ministry of Construction introduced the objective evaluation system which requires the economic appraisal with the Objective Evaluation Index in determining which projects to be newly adopted. The system includes cost-benefit analysis. In June 1998, a draft of the Guideline for Evaluation of Road Investment was drawn as the basic method for cost-benefit analysis of road investment. The outline of the draft and the points left to be considered are described. The existing method of cost-benefit analysis is greatly in need of continuos consideration and improvement.
