Transport Business Cases – 7 success principles to make options real

Investment appraisal is about deciding the option that promises the best return, relative to the risk of failure involved. What are the success principles that help you in developing a robust business case?

For a private investor considering an investment, the project option that returns the best profit, relative to the amount invested and the risk of that investment, is likely to prevail. And if the private investor could earn a better rate if they invested in a low risk product such as a 10 year government bond, why would they risk doing any project?

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How to establish a results focus in addressing transport challenges.

Addressing Transport Challenges – Part 1 Strategy

There are 5 steps in addressing transport challenges – I use the acronym S.A.I.D.D. (SAID and Done):

  1. S: Strategy. Describe the specific challenges, the desired results, and who you need to work with.
  2. A: Analysis. Identify the specific problem(s) being faced, the cause and effect.
  3. I: Instruments (or Interventions). Choosing from the range of solution options available.
  4. D: Decisions. Build the case for the investment in the preferred solution.
  5. D: Delivery.Provide a systematic approach to implementing transport policy.

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Are you a rational or biased professional?

We like to think we are rational decision-making professionals. But the research shows we all have a vast number of biases. Cognitive biases are systematic patterns of behaviour, which means we deviate from making rational judgments. Many of these biases are mental shortcuts, called heuristics, that our brain uses to help us make decisions. Wikipedia … Read more