A Financial Model to Estimate Annual Payments Required under Output- and Performance-Based Road Contracts
Само за регистроване кориснике
2018
Конференцијски прилог (Објављена верзија)
Метаподаци
Приказ свих података о документуАпстракт
In recent years there has been an increased interest by road agencies to adopt performance-based contracts (PBC) for road maintenance as a means to increase the efficiency of maintenance operations. PBC is a type of contract in which payments for the management and maintenance of road assets are explicitly linked to the contractor successfully meeting or exceeding certain clearly defined minimum performance indicators. This paper reviews a specific type of PBC, called output- and performance based road contracts (OPBRC), published by the World Bank and presents the development of a user-friendly tool for estimating the annual payments by the government that will be required by potential contractors to undertake an OPBRC project. The model is expected to be useful to both the public and the private sectors. For example, a road agency planning to launch an OPBRC program will need to make an estimate of the annual payments that the agency will have to make to the private contractors. Conv...ersely, private contractors interested in competing for the OPBRC program will have to make an estimate of the annual payments to include in their bids. The applicability of the tool is demonstrated through a numerical example of a potential road OPBRC project. The model can also be applied to other types of transport infrastructure, such as a railway or waterway. The model can be used to carry out sensitivity analyses. For example, the user can change the value of an input parameter (e.g., construction/rehabilitation cost) and obtain the resulting impact on the equity internal rate of return, or another key model output.
Извор:
International Conference on Transportation and Development 2018: Planning, Sustainability, and Infra, 2018, 159-167Издавач:
- American Society of Civil Engineers (ASCE)
DOI: 10.1061/9780784481561.016
ISBN: 978-0-7844-8156-1
Scopus: 2-s2.0-85052689402
Институција/група
GraFarTY - CONF AU - Mladenović, Goran AU - Queiroz, Cesar PY - 2018 UR - https://grafar.grf.bg.ac.rs/handle/123456789/902 AB - In recent years there has been an increased interest by road agencies to adopt performance-based contracts (PBC) for road maintenance as a means to increase the efficiency of maintenance operations. PBC is a type of contract in which payments for the management and maintenance of road assets are explicitly linked to the contractor successfully meeting or exceeding certain clearly defined minimum performance indicators. This paper reviews a specific type of PBC, called output- and performance based road contracts (OPBRC), published by the World Bank and presents the development of a user-friendly tool for estimating the annual payments by the government that will be required by potential contractors to undertake an OPBRC project. The model is expected to be useful to both the public and the private sectors. For example, a road agency planning to launch an OPBRC program will need to make an estimate of the annual payments that the agency will have to make to the private contractors. Conversely, private contractors interested in competing for the OPBRC program will have to make an estimate of the annual payments to include in their bids. The applicability of the tool is demonstrated through a numerical example of a potential road OPBRC project. The model can also be applied to other types of transport infrastructure, such as a railway or waterway. The model can be used to carry out sensitivity analyses. For example, the user can change the value of an input parameter (e.g., construction/rehabilitation cost) and obtain the resulting impact on the equity internal rate of return, or another key model output. PB - American Society of Civil Engineers (ASCE) C3 - International Conference on Transportation and Development 2018: Planning, Sustainability, and Infra T1 - A Financial Model to Estimate Annual Payments Required under Output- and Performance-Based Road Contracts EP - 167 SP - 159 DO - 10.1061/9780784481561.016 ER -
@conference{ author = "Mladenović, Goran and Queiroz, Cesar", year = "2018", abstract = "In recent years there has been an increased interest by road agencies to adopt performance-based contracts (PBC) for road maintenance as a means to increase the efficiency of maintenance operations. PBC is a type of contract in which payments for the management and maintenance of road assets are explicitly linked to the contractor successfully meeting or exceeding certain clearly defined minimum performance indicators. This paper reviews a specific type of PBC, called output- and performance based road contracts (OPBRC), published by the World Bank and presents the development of a user-friendly tool for estimating the annual payments by the government that will be required by potential contractors to undertake an OPBRC project. The model is expected to be useful to both the public and the private sectors. For example, a road agency planning to launch an OPBRC program will need to make an estimate of the annual payments that the agency will have to make to the private contractors. Conversely, private contractors interested in competing for the OPBRC program will have to make an estimate of the annual payments to include in their bids. The applicability of the tool is demonstrated through a numerical example of a potential road OPBRC project. The model can also be applied to other types of transport infrastructure, such as a railway or waterway. The model can be used to carry out sensitivity analyses. For example, the user can change the value of an input parameter (e.g., construction/rehabilitation cost) and obtain the resulting impact on the equity internal rate of return, or another key model output.", publisher = "American Society of Civil Engineers (ASCE)", journal = "International Conference on Transportation and Development 2018: Planning, Sustainability, and Infra", title = "A Financial Model to Estimate Annual Payments Required under Output- and Performance-Based Road Contracts", pages = "167-159", doi = "10.1061/9780784481561.016" }
Mladenović, G.,& Queiroz, C.. (2018). A Financial Model to Estimate Annual Payments Required under Output- and Performance-Based Road Contracts. in International Conference on Transportation and Development 2018: Planning, Sustainability, and Infra American Society of Civil Engineers (ASCE)., 159-167. https://doi.org/10.1061/9780784481561.016
Mladenović G, Queiroz C. A Financial Model to Estimate Annual Payments Required under Output- and Performance-Based Road Contracts. in International Conference on Transportation and Development 2018: Planning, Sustainability, and Infra. 2018;:159-167. doi:10.1061/9780784481561.016 .
Mladenović, Goran, Queiroz, Cesar, "A Financial Model to Estimate Annual Payments Required under Output- and Performance-Based Road Contracts" in International Conference on Transportation and Development 2018: Planning, Sustainability, and Infra (2018):159-167, https://doi.org/10.1061/9780784481561.016 . .