TY  - CONF
AU  - Vajdić, Nevena
AU  - Mladenović, Goran
AU  - Queiroz, Cesar
PY  - 2022
UR  - https://grafar.grf.bg.ac.rs/handle/123456789/2919
AB  - In transport infrastructure concessions, the sources of revenue to the private partner (or concessionaire) may include (i) the infrastructure users (e.g., landing fees, in the case of airports), (ii) the government (e.g. through availability payments), and (iii) both users and government, which might be called a hybrid concession. An example of the latter is a highway concession where the concessionaire charges tolls to the road users but, because of relatively low revenues, the government agency complements the toll revenue with availability payments. Focusing on airports, this paper summarizes the cases where it may be justified for the government to complement users’ revenues and describes a model developed for the financial assessment of airport concessions involving payments by both the government and airport users, through the collection of several charges. The methodology described in the paper is also used to review the flexibility in new or ongoing airport concessions to mitigate traffic risks, which have been aggravated by the COVID-19 pandemic. The methodology can also be applied to other forms of transport infrastructure. A practical application of the model is demonstrated in the paper, using publicly available information, as well as basic assumptions, to build case studies for the Larnaca and Paphos airports in Cyprus. The model can also be used to carry out sensitivity analyses of the impact of key input parameters on outputs such as the investor’s return on equity and annual debt service cover ratio.
PB  - Elsevier
C3  - AIIT 3rd International Conference on Transport Infrastructure and Systems (TIS ROMA 2022), 15th-16th September 2022, Rome, Italy
T1  - Enhancing the feasibility of airport PPP projects with hybrid funding
UR  - https://hdl.handle.net/21.15107/rcub_grafar_2919
ER  - 

@conference{
author = "Vajdić, Nevena and Mladenović, Goran and Queiroz, Cesar",
year = "2022",
abstract = "In transport infrastructure concessions, the sources of revenue to the private partner (or concessionaire) may include (i) the infrastructure users (e.g., landing fees, in the case of airports), (ii) the government (e.g. through availability payments), and (iii) both users and government, which might be called a hybrid concession. An example of the latter is a highway concession where the concessionaire charges tolls to the road users but, because of relatively low revenues, the government agency complements the toll revenue with availability payments. Focusing on airports, this paper summarizes the cases where it may be justified for the government to complement users’ revenues and describes a model developed for the financial assessment of airport concessions involving payments by both the government and airport users, through the collection of several charges. The methodology described in the paper is also used to review the flexibility in new or ongoing airport concessions to mitigate traffic risks, which have been aggravated by the COVID-19 pandemic. The methodology can also be applied to other forms of transport infrastructure. A practical application of the model is demonstrated in the paper, using publicly available information, as well as basic assumptions, to build case studies for the Larnaca and Paphos airports in Cyprus. The model can also be used to carry out sensitivity analyses of the impact of key input parameters on outputs such as the investor’s return on equity and annual debt service cover ratio.",
publisher = "Elsevier",
journal = "AIIT 3rd International Conference on Transport Infrastructure and Systems (TIS ROMA 2022), 15th-16th September 2022, Rome, Italy",
title = "Enhancing the feasibility of airport PPP projects with hybrid funding",
url = "https://hdl.handle.net/21.15107/rcub_grafar_2919"
}

Vajdić, N., Mladenović, G.,& Queiroz, C.. (2022). Enhancing the feasibility of airport PPP projects with hybrid funding. in AIIT 3rd International Conference on Transport Infrastructure and Systems (TIS ROMA 2022), 15th-16th September 2022, Rome, Italy
Elsevier..
https://hdl.handle.net/21.15107/rcub_grafar_2919

Vajdić N, Mladenović G, Queiroz C. Enhancing the feasibility of airport PPP projects with hybrid funding. in AIIT 3rd International Conference on Transport Infrastructure and Systems (TIS ROMA 2022), 15th-16th September 2022, Rome, Italy. 2022;.
https://hdl.handle.net/21.15107/rcub_grafar_2919 .

Vajdić, Nevena, Mladenović, Goran, Queiroz, Cesar, "Enhancing the feasibility of airport PPP projects with hybrid funding" in AIIT 3rd International Conference on Transport Infrastructure and Systems (TIS ROMA 2022), 15th-16th September 2022, Rome, Italy (2022),
https://hdl.handle.net/21.15107/rcub_grafar_2919 .

TY  - JOUR
AU  - Zlatković, Dejan
AU  - Vajdić, Nevena
AU  - Tica, Slaven
AU  - Mladenović, Goran
AU  - Queiroz, Cesar
PY  - 2017
UR  - https://grafar.grf.bg.ac.rs/handle/123456789/847
AB  - As a consequence of renewed interest in attracting private financing for infrastructure investments, public-private partnership (PPP) arrangements are mostly seen as a suitable mechanism for ensuring sound and quicker delivery of transport infrastructure projects. However, a general concern is that expectations of mobilizing private-sector funds have been overestimated in a number of cases. The purpose of this paper is to contribute to the risk analysis of transport PPP projects with substantial exogenous demand risk which could serve as a rationale for choosing the appropriate PPP model. The objective of this paper is to construct an analytical cash flow-based project model to facilitate the choice of the remuneration mechanism suitable for both private investors and public sector. The model provides an indication whether the project should be implemented as a users pay', a hybrid or an annuity' PPP model. The proposed methodology is illustrated using a case study from Serbia.
PB  - Routledge
T2  - Transportation Planning and Technology
T1  - Remuneration models and revenue risk mitigation in road public-private partnership projects - a case study from Serbia
EP  - 241
IS  - 2
SP  - 228
VL  - 40
DO  - 10.1080/03081060.2016.1266169
ER  - 

@article{
author = "Zlatković, Dejan and Vajdić, Nevena and Tica, Slaven and Mladenović, Goran and Queiroz, Cesar",
year = "2017",
abstract = "As a consequence of renewed interest in attracting private financing for infrastructure investments, public-private partnership (PPP) arrangements are mostly seen as a suitable mechanism for ensuring sound and quicker delivery of transport infrastructure projects. However, a general concern is that expectations of mobilizing private-sector funds have been overestimated in a number of cases. The purpose of this paper is to contribute to the risk analysis of transport PPP projects with substantial exogenous demand risk which could serve as a rationale for choosing the appropriate PPP model. The objective of this paper is to construct an analytical cash flow-based project model to facilitate the choice of the remuneration mechanism suitable for both private investors and public sector. The model provides an indication whether the project should be implemented as a users pay', a hybrid or an annuity' PPP model. The proposed methodology is illustrated using a case study from Serbia.",
publisher = "Routledge",
journal = "Transportation Planning and Technology",
title = "Remuneration models and revenue risk mitigation in road public-private partnership projects - a case study from Serbia",
pages = "241-228",
number = "2",
volume = "40",
doi = "10.1080/03081060.2016.1266169"
}

Zlatković, D., Vajdić, N., Tica, S., Mladenović, G.,& Queiroz, C.. (2017). Remuneration models and revenue risk mitigation in road public-private partnership projects - a case study from Serbia. in Transportation Planning and Technology
Routledge., 40(2), 228-241.
https://doi.org/10.1080/03081060.2016.1266169

Zlatković D, Vajdić N, Tica S, Mladenović G, Queiroz C. Remuneration models and revenue risk mitigation in road public-private partnership projects - a case study from Serbia. in Transportation Planning and Technology. 2017;40(2):228-241.
doi:10.1080/03081060.2016.1266169 .

Zlatković, Dejan, Vajdić, Nevena, Tica, Slaven, Mladenović, Goran, Queiroz, Cesar, "Remuneration models and revenue risk mitigation in road public-private partnership projects - a case study from Serbia" in Transportation Planning and Technology, 40, no. 2 (2017):228-241,
https://doi.org/10.1080/03081060.2016.1266169 . .

TY  - CONF
AU  - Vajdić, Nevena
AU  - Mladenović, Goran
AU  - Queiroz, Cesar
PY  - 2017
UR  - https://grafar.grf.bg.ac.rs/handle/123456789/819
AB  - Private participation in the delivery of toll road projects has been used worldwide. It is a model which incorporates private sector knowledge and experience in the management of highway projects as well as the mobilization of private capital through public-private partnerships (PPP). One of the most prevailing characteristics of PPP projects is risk sharing between the public and the private partner. Assessment of project's financial soundness, a crucial factor for the private sector involvement, represents the basic underlying process during the project's development until the project reaches financial closure. It is important to capture project's uncertainties even in early phases of financial analysis since this information helps in the identification of potential financial risks and assists all sides to properly structure the deal. Parameters commonly used for the evaluation of project's financial feasibility are annual debt service cover ratio (ADSCR), internal rate of return (IRR), and return on equity (ROE). This paper presents a methodological framework for an early assessment of toll rates for PPP toll road projects. This approach takes into account predefined financial constraints ADSCR, IRR, and ROE on one side, and project's uncertainties such as traffic volumes, construction costs, and operation and maintenance costs on the other side. Results provide the range of toll rates covering possible risks scenarios. These results can serve as a basis for a comparative analysis of the socially acceptable toll rate, assuming it is known, and the financially required toll rate. It is anticipated that the early identification of the possible gap between these two values represents valuable information for all parties involved in the project. This gap helps in the identification of the need for additional financial instruments such as guarantees or subsidies in order to implement a project that is acceptable for the private and the public partners, equity investors, lenders, and users.
PB  - American Society of Civil Engineers (ASCE)
C3  - Advances in Public-Private Partnerships - Proceedings of the 2nd International Conference on Public-
T1  - Capturing Uncertainties in Estimating Toll Rates
EP  - 623
SP  - 613
DO  - 10.1061/9780784480267.048
ER  - 

@conference{
author = "Vajdić, Nevena and Mladenović, Goran and Queiroz, Cesar",
year = "2017",
abstract = "Private participation in the delivery of toll road projects has been used worldwide. It is a model which incorporates private sector knowledge and experience in the management of highway projects as well as the mobilization of private capital through public-private partnerships (PPP). One of the most prevailing characteristics of PPP projects is risk sharing between the public and the private partner. Assessment of project's financial soundness, a crucial factor for the private sector involvement, represents the basic underlying process during the project's development until the project reaches financial closure. It is important to capture project's uncertainties even in early phases of financial analysis since this information helps in the identification of potential financial risks and assists all sides to properly structure the deal. Parameters commonly used for the evaluation of project's financial feasibility are annual debt service cover ratio (ADSCR), internal rate of return (IRR), and return on equity (ROE). This paper presents a methodological framework for an early assessment of toll rates for PPP toll road projects. This approach takes into account predefined financial constraints ADSCR, IRR, and ROE on one side, and project's uncertainties such as traffic volumes, construction costs, and operation and maintenance costs on the other side. Results provide the range of toll rates covering possible risks scenarios. These results can serve as a basis for a comparative analysis of the socially acceptable toll rate, assuming it is known, and the financially required toll rate. It is anticipated that the early identification of the possible gap between these two values represents valuable information for all parties involved in the project. This gap helps in the identification of the need for additional financial instruments such as guarantees or subsidies in order to implement a project that is acceptable for the private and the public partners, equity investors, lenders, and users.",
publisher = "American Society of Civil Engineers (ASCE)",
journal = "Advances in Public-Private Partnerships - Proceedings of the 2nd International Conference on Public-",
title = "Capturing Uncertainties in Estimating Toll Rates",
pages = "623-613",
doi = "10.1061/9780784480267.048"
}

Vajdić, N., Mladenović, G.,& Queiroz, C.. (2017). Capturing Uncertainties in Estimating Toll Rates. in Advances in Public-Private Partnerships - Proceedings of the 2nd International Conference on Public-
American Society of Civil Engineers (ASCE)., 613-623.
https://doi.org/10.1061/9780784480267.048

Vajdić N, Mladenović G, Queiroz C. Capturing Uncertainties in Estimating Toll Rates. in Advances in Public-Private Partnerships - Proceedings of the 2nd International Conference on Public-. 2017;:613-623.
doi:10.1061/9780784480267.048 .

Vajdić, Nevena, Mladenović, Goran, Queiroz, Cesar, "Capturing Uncertainties in Estimating Toll Rates" in Advances in Public-Private Partnerships - Proceedings of the 2nd International Conference on Public- (2017):613-623,
https://doi.org/10.1061/9780784480267.048 . .

TY  - CHAP
AU  - Mikić, Miljan
AU  - Ćirilović, Jelena
AU  - Vajdić, Nevena
AU  - Ivanišević, Nenad
AU  - Mladenović, Goran
PY  - 2017
UR  - https://grafar.grf.bg.ac.rs/handle/123456789/1088
PB  - London ; New York: Routledge
T2  - Funding and Financing Transport Infrastructure
T1  - Motorway Horgos Novi Sad (second phase) Serbia
EP  - 150
SP  - 142
UR  - https://hdl.handle.net/21.15107/rcub_grafar_1088
ER  - 

@inbook{
author = "Mikić, Miljan and Ćirilović, Jelena and Vajdić, Nevena and Ivanišević, Nenad and Mladenović, Goran",
year = "2017",
publisher = "London ; New York: Routledge",
journal = "Funding and Financing Transport Infrastructure",
booktitle = "Motorway Horgos Novi Sad (second phase) Serbia",
pages = "150-142",
url = "https://hdl.handle.net/21.15107/rcub_grafar_1088"
}

Mikić, M., Ćirilović, J., Vajdić, N., Ivanišević, N.,& Mladenović, G.. (2017). Motorway Horgos Novi Sad (second phase) Serbia. in Funding and Financing Transport Infrastructure
London ; New York: Routledge., 142-150.
https://hdl.handle.net/21.15107/rcub_grafar_1088

Mikić M, Ćirilović J, Vajdić N, Ivanišević N, Mladenović G. Motorway Horgos Novi Sad (second phase) Serbia. in Funding and Financing Transport Infrastructure. 2017;:142-150.
https://hdl.handle.net/21.15107/rcub_grafar_1088 .

Mikić, Miljan, Ćirilović, Jelena, Vajdić, Nevena, Ivanišević, Nenad, Mladenović, Goran, "Motorway Horgos Novi Sad (second phase) Serbia" in Funding and Financing Transport Infrastructure (2017):142-150,
https://hdl.handle.net/21.15107/rcub_grafar_1088 .

TY  - JOUR
AU  - Vajdić, Nevena
AU  - Mladenović, Goran
AU  - Queiroz, Cesar
PY  - 2017
UR  - https://grafar.grf.bg.ac.rs/handle/123456789/882
AB  - Countries worldwide make substantial efforts to keep the condition of their road infrastructure at an acceptable level under budgetary constraints. One possible model that enables the delivery of road projects under limited budgets is a public-private partnership (PPP). Because of several technical, financial, legal, and economic issues that need to be addressed, PPP agreements are relatively complex. In addition, defining long-term rights and obligations between the public sector and the private concessionaire requires an in-depth risk analysis because of the considerable number of risks usually encountered in PPP projects, such as a toll road concession. The objective of this paper is to present a method for an ex ante assessment of the acceptable toll rate for different stakeholders based on a probabilistic analysis of construction costs, operations and maintenance costs, and traffic volumes. The financial constraints included in the analysis are the debt service coverage ratio and return on equity. The resulting toll rates are determined from the simulated probability distributions of the input parameters. Such rates are then compared with the socially acceptable toll rate. The application of the proposed method to a case study of a toll road concession in Greece for which publicly available data were obtained indicates that the method presented is able to capture some uncertainties and improve the project's risk quantification process. It is recommended that the proposed method be tested on other projects for further validation and eventual upgrading of the model for use as a tool in risk management in toll road concessions.
PB  - National Research Council
T2  - Transportation Research Record
T1  - Probabilistic Approach to Evaluate Acceptable Toll Rates in Road Concessions
EP  - 15
IS  - 2670
SP  - 9
DO  - 10.3141/2670-02
ER  - 

@article{
author = "Vajdić, Nevena and Mladenović, Goran and Queiroz, Cesar",
year = "2017",
abstract = "Countries worldwide make substantial efforts to keep the condition of their road infrastructure at an acceptable level under budgetary constraints. One possible model that enables the delivery of road projects under limited budgets is a public-private partnership (PPP). Because of several technical, financial, legal, and economic issues that need to be addressed, PPP agreements are relatively complex. In addition, defining long-term rights and obligations between the public sector and the private concessionaire requires an in-depth risk analysis because of the considerable number of risks usually encountered in PPP projects, such as a toll road concession. The objective of this paper is to present a method for an ex ante assessment of the acceptable toll rate for different stakeholders based on a probabilistic analysis of construction costs, operations and maintenance costs, and traffic volumes. The financial constraints included in the analysis are the debt service coverage ratio and return on equity. The resulting toll rates are determined from the simulated probability distributions of the input parameters. Such rates are then compared with the socially acceptable toll rate. The application of the proposed method to a case study of a toll road concession in Greece for which publicly available data were obtained indicates that the method presented is able to capture some uncertainties and improve the project's risk quantification process. It is recommended that the proposed method be tested on other projects for further validation and eventual upgrading of the model for use as a tool in risk management in toll road concessions.",
publisher = "National Research Council",
journal = "Transportation Research Record",
title = "Probabilistic Approach to Evaluate Acceptable Toll Rates in Road Concessions",
pages = "15-9",
number = "2670",
doi = "10.3141/2670-02"
}

Vajdić, N., Mladenović, G.,& Queiroz, C.. (2017). Probabilistic Approach to Evaluate Acceptable Toll Rates in Road Concessions. in Transportation Research Record
National Research Council.(2670), 9-15.
https://doi.org/10.3141/2670-02

Vajdić N, Mladenović G, Queiroz C. Probabilistic Approach to Evaluate Acceptable Toll Rates in Road Concessions. in Transportation Research Record. 2017;(2670):9-15.
doi:10.3141/2670-02 .

Vajdić, Nevena, Mladenović, Goran, Queiroz, Cesar, "Probabilistic Approach to Evaluate Acceptable Toll Rates in Road Concessions" in Transportation Research Record, no. 2670 (2017):9-15,
https://doi.org/10.3141/2670-02 . .

TY  - CONF
AU  - Vajdić, Nevena
AU  - Mladenović, Goran
AU  - Queiroz, Cesar
PY  - 2016
UR  - https://grafar.grf.bg.ac.rs/handle/123456789/1467
AB  - Učešće privatnog sektora u realizaciji putnih projekata sa naplatom putarine zastupljeno je širom sveta. Ovaj model koristi znanje i iskustvo privatnog sektora u upravljanju putnim projektima i mobiliše privatni kapital kroz javno-privatno partnerstvo (JPP). Jedna od najznačajnijih karakteristika JPP projekata je podela rizika između javnog i privatnog partnera. Kvanitifikacija rizika i procena finansijske osnovanosti projekta, ključnog faktora za učešće privatnog sektora, osnovni je proces celokupnog razvoja projekta sve do zaključenja finansijskog aranžmana za projekat. U ovom radu predstavljen je model za ranu kvantifikaciju rizika za JPP putne projekte sa naplatom putarine. Ovaj pristup koristi unapred definisana finansijska ograničenja godišnji racio pokrića duga, interne stope rentabiliteta projekta i interne stope povraćaja uloženog kapitala sa jedne strane, i rizike projekta kao što su nestabilnost obima saobraćaja, varijacije u troškovima izgradnje, i varijacije u troškovima upravljanja i održavanja, sa druge strane. Model izračunava putarinu koja zadovoljava finansijska ograničenja. Rezultat ovog modela je opseg visine putarine koji pokriva moguća scenarija rizika. Ovi rezultati mogu da posluže kao osnova za komparativnu analizu socijalno prihvatljive visine putarine, pretpostavljajući da je poznata, i finansijski zahtevane putarine. Očekuje se da rana identifikacija razlike između ove dve vrednosti putarine predstavlja značajnu informaciju za sve učesnike u projektu. Ova razlika omogućava da se sagledaju potrebe za dodatnim finansijskim instrumentima, kao što su garancije ili subvencije, kako bi se realizovao projekat koji je prihvatljiv i za javnog i za privatnog partnera, investitore, banke i korisnike.
PB  - Srpsko društvo za puteve "VIA-VITA", Beograd
C3  - Zbornik radova / Drugi srpski kongres o putevima, 9. i 10. jun 2016., Beograd
T1  - Kvantifikacija rizika u javno-privatnim partnerstvima za puteve sa naplatom putarine
UR  - https://hdl.handle.net/21.15107/rcub_grafar_1467
ER  - 

@conference{
author = "Vajdić, Nevena and Mladenović, Goran and Queiroz, Cesar",
year = "2016",
abstract = "Učešće privatnog sektora u realizaciji putnih projekata sa naplatom putarine zastupljeno je širom sveta. Ovaj model koristi znanje i iskustvo privatnog sektora u upravljanju putnim projektima i mobiliše privatni kapital kroz javno-privatno partnerstvo (JPP). Jedna od najznačajnijih karakteristika JPP projekata je podela rizika između javnog i privatnog partnera. Kvanitifikacija rizika i procena finansijske osnovanosti projekta, ključnog faktora za učešće privatnog sektora, osnovni je proces celokupnog razvoja projekta sve do zaključenja finansijskog aranžmana za projekat. U ovom radu predstavljen je model za ranu kvantifikaciju rizika za JPP putne projekte sa naplatom putarine. Ovaj pristup koristi unapred definisana finansijska ograničenja godišnji racio pokrića duga, interne stope rentabiliteta projekta i interne stope povraćaja uloženog kapitala sa jedne strane, i rizike projekta kao što su nestabilnost obima saobraćaja, varijacije u troškovima izgradnje, i varijacije u troškovima upravljanja i održavanja, sa druge strane. Model izračunava putarinu koja zadovoljava finansijska ograničenja. Rezultat ovog modela je opseg visine putarine koji pokriva moguća scenarija rizika. Ovi rezultati mogu da posluže kao osnova za komparativnu analizu socijalno prihvatljive visine putarine, pretpostavljajući da je poznata, i finansijski zahtevane putarine. Očekuje se da rana identifikacija razlike između ove dve vrednosti putarine predstavlja značajnu informaciju za sve učesnike u projektu. Ova razlika omogućava da se sagledaju potrebe za dodatnim finansijskim instrumentima, kao što su garancije ili subvencije, kako bi se realizovao projekat koji je prihvatljiv i za javnog i za privatnog partnera, investitore, banke i korisnike.",
publisher = "Srpsko društvo za puteve "VIA-VITA", Beograd",
journal = "Zbornik radova / Drugi srpski kongres o putevima, 9. i 10. jun 2016., Beograd",
title = "Kvantifikacija rizika u javno-privatnim partnerstvima za puteve sa naplatom putarine",
url = "https://hdl.handle.net/21.15107/rcub_grafar_1467"
}

Vajdić, N., Mladenović, G.,& Queiroz, C.. (2016). Kvantifikacija rizika u javno-privatnim partnerstvima za puteve sa naplatom putarine. in Zbornik radova / Drugi srpski kongres o putevima, 9. i 10. jun 2016., Beograd
Srpsko društvo za puteve "VIA-VITA", Beograd..
https://hdl.handle.net/21.15107/rcub_grafar_1467

Vajdić N, Mladenović G, Queiroz C. Kvantifikacija rizika u javno-privatnim partnerstvima za puteve sa naplatom putarine. in Zbornik radova / Drugi srpski kongres o putevima, 9. i 10. jun 2016., Beograd. 2016;.
https://hdl.handle.net/21.15107/rcub_grafar_1467 .

Vajdić, Nevena, Mladenović, Goran, Queiroz, Cesar, "Kvantifikacija rizika u javno-privatnim partnerstvima za puteve sa naplatom putarine" in Zbornik radova / Drugi srpski kongres o putevima, 9. i 10. jun 2016., Beograd (2016),
https://hdl.handle.net/21.15107/rcub_grafar_1467 .

TY  - CONF
AU  - Spielhofer, Roland
AU  - Vajdić, Nevena
AU  - Ćirilović, Jelena
AU  - Mladenović, Goran
PY  - 2015
UR  - https://grafar.grf.bg.ac.rs/handle/123456789/1334
AB  - This paper presents an outline of the CEDR Transnational Road Research Programme funded research project X-ARA cross asset risk assessment. Objective and scope of the project are described and the approach is outlined. The main part of this paper presents the findings of a desk study, carried out during the project, on literature related to risk assessment in asset management and the current practice on risk assessment of several European road operators.
PB  - International Association for Bridge and Structural Engineering ETH Honggenberg, Zurich
C3  - IABSE Symposium Report
T1  - Cross Asset Risk Management (X-ARA)
SP  - 977
VL  - 105
DO  - 10.2749/222137815818358150
ER  - 

@conference{
author = "Spielhofer, Roland and Vajdić, Nevena and Ćirilović, Jelena and Mladenović, Goran",
year = "2015",
abstract = "This paper presents an outline of the CEDR Transnational Road Research Programme funded research project X-ARA cross asset risk assessment. Objective and scope of the project are described and the approach is outlined. The main part of this paper presents the findings of a desk study, carried out during the project, on literature related to risk assessment in asset management and the current practice on risk assessment of several European road operators.",
publisher = "International Association for Bridge and Structural Engineering ETH Honggenberg, Zurich",
journal = "IABSE Symposium Report",
title = "Cross Asset Risk Management (X-ARA)",
pages = "977",
volume = "105",
doi = "10.2749/222137815818358150"
}

Spielhofer, R., Vajdić, N., Ćirilović, J.,& Mladenović, G.. (2015). Cross Asset Risk Management (X-ARA). in IABSE Symposium Report
International Association for Bridge and Structural Engineering ETH Honggenberg, Zurich., 105, 977.
https://doi.org/10.2749/222137815818358150

Spielhofer R, Vajdić N, Ćirilović J, Mladenović G. Cross Asset Risk Management (X-ARA). in IABSE Symposium Report. 2015;105:977.
doi:10.2749/222137815818358150 .

Spielhofer, Roland, Vajdić, Nevena, Ćirilović, Jelena, Mladenović, Goran, "Cross Asset Risk Management (X-ARA)" in IABSE Symposium Report, 105 (2015):977,
https://doi.org/10.2749/222137815818358150 . .

TY  - CONF
AU  - Sudarić, M.
AU  - Vajdić, Nevena
AU  - Mladenović, Goran
AU  - Božović, M.
PY  - 2014
UR  - https://grafar.grf.bg.ac.rs/handle/123456789/1168
AB  - Public-Private Partnerships (PPPs) are used worldwide as a method. History of PPP transportation projects such as toll assessment process of PPP projects has that may occur over a longer time horizon in a more realistic way. The theory of real options is often used as tool that provides a mathematical background for the quantification of various forms of flexibilities contracts. The objective of this paper is to investigate an option to abandon the project as one form of the flexibility in PPP contracts. A case study of benefits that this type of option has on the project's risk profile becomes more acceptable to potent Application of this type of flexibility in PPP contracts in Serbia is also discussed.
PB  - Institut Francais des Sciences et Technologies des Transports, de l'Aménagement et des Réseaux (IFSTTAR),
C3  - Transport Research Arena (TRA) 2014 Proceedings
T1  - Valuing an option to abandon a PPP toll road project
UR  - https://hdl.handle.net/21.15107/rcub_grafar_1168
ER  - 

@conference{
author = "Sudarić, M. and Vajdić, Nevena and Mladenović, Goran and Božović, M.",
year = "2014",
abstract = "Public-Private Partnerships (PPPs) are used worldwide as a method. History of PPP transportation projects such as toll assessment process of PPP projects has that may occur over a longer time horizon in a more realistic way. The theory of real options is often used as tool that provides a mathematical background for the quantification of various forms of flexibilities contracts. The objective of this paper is to investigate an option to abandon the project as one form of the flexibility in PPP contracts. A case study of benefits that this type of option has on the project's risk profile becomes more acceptable to potent Application of this type of flexibility in PPP contracts in Serbia is also discussed.",
publisher = "Institut Francais des Sciences et Technologies des Transports, de l'Aménagement et des Réseaux (IFSTTAR),",
journal = "Transport Research Arena (TRA) 2014 Proceedings",
title = "Valuing an option to abandon a PPP toll road project",
url = "https://hdl.handle.net/21.15107/rcub_grafar_1168"
}

Sudarić, M., Vajdić, N., Mladenović, G.,& Božović, M.. (2014). Valuing an option to abandon a PPP toll road project. in Transport Research Arena (TRA) 2014 Proceedings
Institut Francais des Sciences et Technologies des Transports, de l'Aménagement et des Réseaux (IFSTTAR),..
https://hdl.handle.net/21.15107/rcub_grafar_1168

Sudarić M, Vajdić N, Mladenović G, Božović M. Valuing an option to abandon a PPP toll road project. in Transport Research Arena (TRA) 2014 Proceedings. 2014;.
https://hdl.handle.net/21.15107/rcub_grafar_1168 .

Sudarić, M., Vajdić, Nevena, Mladenović, Goran, Božović, M., "Valuing an option to abandon a PPP toll road project" in Transport Research Arena (TRA) 2014 Proceedings (2014),
https://hdl.handle.net/21.15107/rcub_grafar_1168 .

TY  - JOUR
AU  - Ćirilović, Jelena
AU  - Vajdić, Nevena
AU  - Mladenović, Goran
AU  - Queiroz, Cesar
PY  - 2014
UR  - https://grafar.grf.bg.ac.rs/handle/123456789/637
AB  - This paper presents the development of prediction models for the unit costs of road works that could be applied to strategic planning of road works at the network level. A specialized data set was used, which was generated under a World Bank study that included 200 road work contracts from 14 countries in Europe and Central Asia (ECA) and signed between 2000 and 2010. Two techniques were used for model development: multiple regression analysis and artificial neural networks. Classification trees were used as an intermediate step to evaluate the correctness of the selected parameters. A total of 19 variables, divided into three groups (oil-price related, country-related, and project-related variables), were tested for their influence on unit cost of asphalt concrete (AC) and road rehabilitation and reconstruction (RRR) costs. The analysis results showed that the level of corruption and the economic environment in a country have a significant effect on both costs of AC and RRR. The resulting models could be particularly useful for the planning and optimization of work on road networks in ECA countries. However, the approach and methodology used for model developments may be applied generally.
T2  - Journal of Construction Engineering and Management
T1  - Developing Cost Estimation Models for Road Rehabilitation and Reconstruction: Case Study of Projects in Europe and Central Asia
IS  - 3
VL  - 140
DO  - 10.1061/(ASCE)CO.1943-7862.0000817
ER  - 

@article{
author = "Ćirilović, Jelena and Vajdić, Nevena and Mladenović, Goran and Queiroz, Cesar",
year = "2014",
abstract = "This paper presents the development of prediction models for the unit costs of road works that could be applied to strategic planning of road works at the network level. A specialized data set was used, which was generated under a World Bank study that included 200 road work contracts from 14 countries in Europe and Central Asia (ECA) and signed between 2000 and 2010. Two techniques were used for model development: multiple regression analysis and artificial neural networks. Classification trees were used as an intermediate step to evaluate the correctness of the selected parameters. A total of 19 variables, divided into three groups (oil-price related, country-related, and project-related variables), were tested for their influence on unit cost of asphalt concrete (AC) and road rehabilitation and reconstruction (RRR) costs. The analysis results showed that the level of corruption and the economic environment in a country have a significant effect on both costs of AC and RRR. The resulting models could be particularly useful for the planning and optimization of work on road networks in ECA countries. However, the approach and methodology used for model developments may be applied generally.",
journal = "Journal of Construction Engineering and Management",
title = "Developing Cost Estimation Models for Road Rehabilitation and Reconstruction: Case Study of Projects in Europe and Central Asia",
number = "3",
volume = "140",
doi = "10.1061/(ASCE)CO.1943-7862.0000817"
}

Ćirilović, J., Vajdić, N., Mladenović, G.,& Queiroz, C.. (2014). Developing Cost Estimation Models for Road Rehabilitation and Reconstruction: Case Study of Projects in Europe and Central Asia. in Journal of Construction Engineering and Management, 140(3).
https://doi.org/10.1061/(ASCE)CO.1943-7862.0000817

Ćirilović J, Vajdić N, Mladenović G, Queiroz C. Developing Cost Estimation Models for Road Rehabilitation and Reconstruction: Case Study of Projects in Europe and Central Asia. in Journal of Construction Engineering and Management. 2014;140(3).
doi:10.1061/(ASCE)CO.1943-7862.0000817 .

Ćirilović, Jelena, Vajdić, Nevena, Mladenović, Goran, Queiroz, Cesar, "Developing Cost Estimation Models for Road Rehabilitation and Reconstruction: Case Study of Projects in Europe and Central Asia" in Journal of Construction Engineering and Management, 140, no. 3 (2014),
https://doi.org/10.1061/(ASCE)CO.1943-7862.0000817 . .

TY  - JOUR
AU  - Queiroz, Cesar
AU  - Vajdić, Nevena
AU  - Mladenović, Goran
PY  - 2013
UR  - https://grafar.grf.bg.ac.rs/handle/123456789/544
AB  - Private participation in roads revived strongly in transition and developing countries between 2005 and 2008, growing during the period from US$6.2 billion to US$16.4 billion a year, a new historic peak. However, in view of the recent global financial crisis, there has been some retraction of private financing resulting in an investment of US$15.8 billion in 2009. Driving policy-makers' renewed interest in attracting private financing for roads is the need for greater investments to keep road networks in an acceptable condition and carry out social and economic expansion plans in a context of public budget constraints. An analysis is presented of recent trends in road projects with private participation in developing and transition economies, in view of the policies and models adopted by these countries. A procedure for estimating the minimum toll rates required to attract private investors is also presented.
T2  - Transportation Planning and Technology
T1  - Public-private partnerships in roads and government support: trends in transition and developing economies
EP  - 243
IS  - 3
SP  - 231
VL  - 36
DO  - 10.1080/03081060.2013.779472
ER  - 

@article{
author = "Queiroz, Cesar and Vajdić, Nevena and Mladenović, Goran",
year = "2013",
abstract = "Private participation in roads revived strongly in transition and developing countries between 2005 and 2008, growing during the period from US$6.2 billion to US$16.4 billion a year, a new historic peak. However, in view of the recent global financial crisis, there has been some retraction of private financing resulting in an investment of US$15.8 billion in 2009. Driving policy-makers' renewed interest in attracting private financing for roads is the need for greater investments to keep road networks in an acceptable condition and carry out social and economic expansion plans in a context of public budget constraints. An analysis is presented of recent trends in road projects with private participation in developing and transition economies, in view of the policies and models adopted by these countries. A procedure for estimating the minimum toll rates required to attract private investors is also presented.",
journal = "Transportation Planning and Technology",
title = "Public-private partnerships in roads and government support: trends in transition and developing economies",
pages = "243-231",
number = "3",
volume = "36",
doi = "10.1080/03081060.2013.779472"
}

Queiroz, C., Vajdić, N.,& Mladenović, G.. (2013). Public-private partnerships in roads and government support: trends in transition and developing economies. in Transportation Planning and Technology, 36(3), 231-243.
https://doi.org/10.1080/03081060.2013.779472

Queiroz C, Vajdić N, Mladenović G. Public-private partnerships in roads and government support: trends in transition and developing economies. in Transportation Planning and Technology. 2013;36(3):231-243.
doi:10.1080/03081060.2013.779472 .

Queiroz, Cesar, Vajdić, Nevena, Mladenović, Goran, "Public-private partnerships in roads and government support: trends in transition and developing economies" in Transportation Planning and Technology, 36, no. 3 (2013):231-243,
https://doi.org/10.1080/03081060.2013.779472 . .

TY  - JOUR
AU  - Mladenović, Goran
AU  - Vajdić, Nevena
PY  - 2013
UR  - https://grafar.grf.bg.ac.rs/handle/123456789/502
AB  - The paper presents work performed within the ERA-NET-ROAD project EVITA - Environmental Performance Indicators for the Total Road Infrastructure Assets on development and integration of new and existing Environmental Key Performance Indicators (EPI) in asset management process taking into account the expectations of different stakeholders (users, operators, neighbors, etc.). The inventory of existing indicators, based on extensive literature review, is used as a starting point for identification, development and implementation of existing and new EPIs in the following areas: - Noise produced by road operation (including road traffic and maintenance), - Air and water pollution due to road operation, and - Natural resources, including energy, consumption. Paper also presents the general framework for implementation of selected EPIs in Pavement and Asset Management Systems.
AB  - U radu je prikazan razvoj i implementacija novih i postojećih indikatora uticaja na životnu sredinu (EPI) u ERANET-ROAD projektu EVITA - Indikatori uticaja na životnu sredinu putne infrastrukture i njihova primena u procesu upravljanja, uzimajući u obzir očekivanja različitih zainteresovanih strana (korisnici, upravljači, stanovništvo koje živi u blizini puta i dr.). Inventar postojećih indikatora, koji je baziran na obimnoj analizi literature, je korišćen kao polazna osnova za identifikaciju, razvoj i implementaciju postojećih i novih indikatora EPI u oblastima: - Buka prouzrokovana korišćenjem puta (uključujući saobraćaj i održavanje puta), - Zagađenje vazduha i vode usled korišćenja puta, i - Potrošnja prirodnih resursa, uključujući energiju. U radu se takođe prikazuje opšti okvir za implementaciju izabranih indikatora EPI u sistemima za upravljanje održavanjem kolovoznih konstrukcija i putnih dobara.
PB  - Savez građevinskih inženjera Srbije, Beograd
T2  - Građevinski kalendar
T1  - Environmental key performance indicators of road infrastructure
T1  - Indikatori uticaja na okolinu pri građenju i eksploataciji puteva
EP  - 406
IS  - 45
SP  - 344
UR  - https://hdl.handle.net/21.15107/rcub_grafar_502
ER  - 

@article{
author = "Mladenović, Goran and Vajdić, Nevena",
year = "2013",
abstract = "The paper presents work performed within the ERA-NET-ROAD project EVITA - Environmental Performance Indicators for the Total Road Infrastructure Assets on development and integration of new and existing Environmental Key Performance Indicators (EPI) in asset management process taking into account the expectations of different stakeholders (users, operators, neighbors, etc.). The inventory of existing indicators, based on extensive literature review, is used as a starting point for identification, development and implementation of existing and new EPIs in the following areas: - Noise produced by road operation (including road traffic and maintenance), - Air and water pollution due to road operation, and - Natural resources, including energy, consumption. Paper also presents the general framework for implementation of selected EPIs in Pavement and Asset Management Systems., U radu je prikazan razvoj i implementacija novih i postojećih indikatora uticaja na životnu sredinu (EPI) u ERANET-ROAD projektu EVITA - Indikatori uticaja na životnu sredinu putne infrastrukture i njihova primena u procesu upravljanja, uzimajući u obzir očekivanja različitih zainteresovanih strana (korisnici, upravljači, stanovništvo koje živi u blizini puta i dr.). Inventar postojećih indikatora, koji je baziran na obimnoj analizi literature, je korišćen kao polazna osnova za identifikaciju, razvoj i implementaciju postojećih i novih indikatora EPI u oblastima: - Buka prouzrokovana korišćenjem puta (uključujući saobraćaj i održavanje puta), - Zagađenje vazduha i vode usled korišćenja puta, i - Potrošnja prirodnih resursa, uključujući energiju. U radu se takođe prikazuje opšti okvir za implementaciju izabranih indikatora EPI u sistemima za upravljanje održavanjem kolovoznih konstrukcija i putnih dobara.",
publisher = "Savez građevinskih inženjera Srbije, Beograd",
journal = "Građevinski kalendar",
title = "Environmental key performance indicators of road infrastructure, Indikatori uticaja na okolinu pri građenju i eksploataciji puteva",
pages = "406-344",
number = "45",
url = "https://hdl.handle.net/21.15107/rcub_grafar_502"
}

Mladenović, G.,& Vajdić, N.. (2013). Environmental key performance indicators of road infrastructure. in Građevinski kalendar
Savez građevinskih inženjera Srbije, Beograd.(45), 344-406.
https://hdl.handle.net/21.15107/rcub_grafar_502

Mladenović G, Vajdić N. Environmental key performance indicators of road infrastructure. in Građevinski kalendar. 2013;(45):344-406.
https://hdl.handle.net/21.15107/rcub_grafar_502 .

Mladenović, Goran, Vajdić, Nevena, "Environmental key performance indicators of road infrastructure" in Građevinski kalendar, no. 45 (2013):344-406,
https://hdl.handle.net/21.15107/rcub_grafar_502 .

TY  - JOUR
AU  - Vajdić, Nevena
AU  - Mladenović, Goran
AU  - Queiroz, Cesar
PY  - 2013
UR  - https://grafar.grf.bg.ac.rs/handle/123456789/486
AB  - Public private partnership (PPP) is a project delivery method which is used in many countries. The main advantage of this method compared with traditional method is in the allocation of private funds which are used for public goods. Under road PPP projects a commonly used mechanism for the repayment of the private investment is charging tolls to the facility users. Although the toll rate may be set by the government, there are certain constraints which the minimum toll rate has to meet. These constraints are mainly related to financial parameters such as project’s internal rate of return (IRR) and debt service coverage ratio (DSCR). In addition to these constraints, other project’s parameters such as construction cost, or level of government subsidies also have an impact on toll rates. The objective of this paper is to investigate the relationship between the level of toll rates and several project technical parameters.
AB  - Javno privatno partnerstvo (JPP) je metoda realizacije projekta koja se koristi u mnogim zemljama. Glavna prednost ove metode u poređenju sa tradicionalnom metodom je u korišćenju privatnih fondova za javne projekte. U slučaju JPP projekata za puteve, uobičajeni mehanizam servisiranja privatnih investicija je preko naplate putarine korisnicima puta. Iako visina putarine može biti određena od strane države, postoje određena ograničenja koje minimalna visina putarina mora da zadovolji. Ova ograničenja se uglavnom odnose na finansijske parametre kao što su interna stopa rentabiliteta projekta ili indeks servisiranja duga. I ostali projektni parametri kao što su cena izgradnje projekta ili nivo učešća države kroz subvencije takođe imaju uticaja na visinu putarine. Cilj ovog rada je da se istraže zavisnosti između visine putarine i nekoliko tehničkih parametara projekta.
PB  - Srpsko društvo za puteve VIA-VITA, Beograd
T2  - Put i saobraćaj
T1  - Estimating minimum toll rates for road concessions
T1  - Procena minimalne visine putarine za putne koncesije
EP  - 29
IS  - 1
SP  - 25
VL  - 59
UR  - https://hdl.handle.net/21.15107/rcub_grafar_486
ER  - 

@article{
author = "Vajdić, Nevena and Mladenović, Goran and Queiroz, Cesar",
year = "2013",
abstract = "Public private partnership (PPP) is a project delivery method which is used in many countries. The main advantage of this method compared with traditional method is in the allocation of private funds which are used for public goods. Under road PPP projects a commonly used mechanism for the repayment of the private investment is charging tolls to the facility users. Although the toll rate may be set by the government, there are certain constraints which the minimum toll rate has to meet. These constraints are mainly related to financial parameters such as project’s internal rate of return (IRR) and debt service coverage ratio (DSCR). In addition to these constraints, other project’s parameters such as construction cost, or level of government subsidies also have an impact on toll rates. The objective of this paper is to investigate the relationship between the level of toll rates and several project technical parameters., Javno privatno partnerstvo (JPP) je metoda realizacije projekta koja se koristi u mnogim zemljama. Glavna prednost ove metode u poređenju sa tradicionalnom metodom je u korišćenju privatnih fondova za javne projekte. U slučaju JPP projekata za puteve, uobičajeni mehanizam servisiranja privatnih investicija je preko naplate putarine korisnicima puta. Iako visina putarine može biti određena od strane države, postoje određena ograničenja koje minimalna visina putarina mora da zadovolji. Ova ograničenja se uglavnom odnose na finansijske parametre kao što su interna stopa rentabiliteta projekta ili indeks servisiranja duga. I ostali projektni parametri kao što su cena izgradnje projekta ili nivo učešća države kroz subvencije takođe imaju uticaja na visinu putarine. Cilj ovog rada je da se istraže zavisnosti između visine putarine i nekoliko tehničkih parametara projekta.",
publisher = "Srpsko društvo za puteve VIA-VITA, Beograd",
journal = "Put i saobraćaj",
title = "Estimating minimum toll rates for road concessions, Procena minimalne visine putarine za putne koncesije",
pages = "29-25",
number = "1",
volume = "59",
url = "https://hdl.handle.net/21.15107/rcub_grafar_486"
}

Vajdić, N., Mladenović, G.,& Queiroz, C.. (2013). Estimating minimum toll rates for road concessions. in Put i saobraćaj
Srpsko društvo za puteve VIA-VITA, Beograd., 59(1), 25-29.
https://hdl.handle.net/21.15107/rcub_grafar_486

Vajdić N, Mladenović G, Queiroz C. Estimating minimum toll rates for road concessions. in Put i saobraćaj. 2013;59(1):25-29.
https://hdl.handle.net/21.15107/rcub_grafar_486 .

Vajdić, Nevena, Mladenović, Goran, Queiroz, Cesar, "Estimating minimum toll rates for road concessions" in Put i saobraćaj, 59, no. 1 (2013):25-29,
https://hdl.handle.net/21.15107/rcub_grafar_486 .

TY  - CONF
AU  - Vajdić, Nevena
AU  - Mladenović, Goran
AU  - Queiroz, Cesar
PY  - 2012
UR  - https://grafar.grf.bg.ac.rs/handle/123456789/461
AB  - Public private partnership (PPP) is a project delivery method which is used in many countries. The main advantage of this method compared with traditional methods is in the allocation of private funds which are used for providing public services and delivery of projects such as hospitals, schools, roads, and bridges. Under road PPP projects, a commonly used mechanism for the repayment of the private investment is the user charge system, i.e., charging tolls to the facility users. Although the toll rate may be set by the government, there are certain constraints which the minimum toll rate has to meet. These constraints are mainly related to financial parameters such as project's financial internal rate of return (IRR) and debt service coverage ratio (DSCR) which private investors evaluate during the decision making process. In other words, there is a minimum toll rate required to attract private investments. In addition to the financial constraints, other project's parameters such as construction cost, concession life, or level of government subsidies also have an impact on toll rates. The objective of this paper is to investigate the relationship between the level of toll rates and several project technical and financial parameters. A financial model included in the Toolkit for PPP in Roads and Highways, developed by the World Bank and the Public-Private Infrastructure Advisory Facility (PPIAF), is used as a tool to calculate toll rates for various sets of input values. The approach which was chosen to test sensitivity of selected parameters to potential changes in input values (e.g., technical and financial parameters) is by estimation of elasticities.
C3  - Transport Research Arena 2012
T1  - Estimating minimum toll rates in Public Private Partnerships
EP  - 3407
SP  - 3400
VL  - 48
DO  - 10.1016/j.sbspro.2012.06.1304
ER  - 

@conference{
author = "Vajdić, Nevena and Mladenović, Goran and Queiroz, Cesar",
year = "2012",
abstract = "Public private partnership (PPP) is a project delivery method which is used in many countries. The main advantage of this method compared with traditional methods is in the allocation of private funds which are used for providing public services and delivery of projects such as hospitals, schools, roads, and bridges. Under road PPP projects, a commonly used mechanism for the repayment of the private investment is the user charge system, i.e., charging tolls to the facility users. Although the toll rate may be set by the government, there are certain constraints which the minimum toll rate has to meet. These constraints are mainly related to financial parameters such as project's financial internal rate of return (IRR) and debt service coverage ratio (DSCR) which private investors evaluate during the decision making process. In other words, there is a minimum toll rate required to attract private investments. In addition to the financial constraints, other project's parameters such as construction cost, concession life, or level of government subsidies also have an impact on toll rates. The objective of this paper is to investigate the relationship between the level of toll rates and several project technical and financial parameters. A financial model included in the Toolkit for PPP in Roads and Highways, developed by the World Bank and the Public-Private Infrastructure Advisory Facility (PPIAF), is used as a tool to calculate toll rates for various sets of input values. The approach which was chosen to test sensitivity of selected parameters to potential changes in input values (e.g., technical and financial parameters) is by estimation of elasticities.",
journal = "Transport Research Arena 2012",
title = "Estimating minimum toll rates in Public Private Partnerships",
pages = "3407-3400",
volume = "48",
doi = "10.1016/j.sbspro.2012.06.1304"
}

Vajdić, N., Mladenović, G.,& Queiroz, C.. (2012). Estimating minimum toll rates in Public Private Partnerships. in Transport Research Arena 2012, 48, 3400-3407.
https://doi.org/10.1016/j.sbspro.2012.06.1304

Vajdić N, Mladenović G, Queiroz C. Estimating minimum toll rates in Public Private Partnerships. in Transport Research Arena 2012. 2012;48:3400-3407.
doi:10.1016/j.sbspro.2012.06.1304 .

Vajdić, Nevena, Mladenović, Goran, Queiroz, Cesar, "Estimating minimum toll rates in Public Private Partnerships" in Transport Research Arena 2012, 48 (2012):3400-3407,
https://doi.org/10.1016/j.sbspro.2012.06.1304 . .

TY  - JOUR
AU  - Ćirilović, Jelena
AU  - Vajdić, Nevena
AU  - Mladenović, Goran
AU  - Queiroz, Cesar
PY  - 2012
UR  - https://grafar.grf.bg.ac.rs/handle/123456789/446
AB  - The average unit project cost for road rehabilitation and reconstruction (RRR) works vary substantially across countries and over time, but variation also exists within the country in the same year due to a number of reasons. In this paper an effort is made to develop a prediction model that could be applied for a wide range of conditions in different countries and that could be applied in road maintenance management systems at strategic level and development of road works programs. The resulting model is made of the variables that contribute significantly to the regression. The variables included in the analyses were chosen in view of their potential explanatory power. The resulting regression model is expected to be useful in the strategic analysis of road networks, including the optimization of road maintenance alternatives. .
AB  - Prosečni jedinični troškovi radova u projektima rekonstrukcije i rehabilitacije (RiR) puteva se značajno razlikuju među državama, ali i u okviru različitih projekata u istoj državi, i to usled mnogobrojnih faktora. U okviru ovog rada, formiran je model kojim bi bilo moguće predvideti troškove radova RiR u različitim državama i koji bi mogao da se primeni u analizama u sistemima za upravljanje održavanjem puteva na strateškom nivou i na nivou programiranja radova održavanja. Definisan model je formiran od promenljivih koje značajno doprinose regresiji. Izabrane su one promenljive kojima je moguće što bolje opisati zavisnu veličinu tj. jedinične troškove RiR puteva. Dobijena regresiona zavisnost bi mogla da bude korisna na nivou strateških analiza mreža i optimizacija planiranih radova RiR.
PB  - Srpsko društvo za puteve VIA-VITA, Beograd
T2  - Put i saobraćaj
T1  - Model development for the preliminary cost estimates of road rehabilitation and reconstruction works
T1  - Procena troškova rehabilitacije i rekonstrukcije u sistemima za upravljanje održavanjem puteva
EP  - 13
IS  - 2
SP  - 5
VL  - 58
UR  - https://hdl.handle.net/21.15107/rcub_grafar_446
ER  - 

@article{
author = "Ćirilović, Jelena and Vajdić, Nevena and Mladenović, Goran and Queiroz, Cesar",
year = "2012",
abstract = "The average unit project cost for road rehabilitation and reconstruction (RRR) works vary substantially across countries and over time, but variation also exists within the country in the same year due to a number of reasons. In this paper an effort is made to develop a prediction model that could be applied for a wide range of conditions in different countries and that could be applied in road maintenance management systems at strategic level and development of road works programs. The resulting model is made of the variables that contribute significantly to the regression. The variables included in the analyses were chosen in view of their potential explanatory power. The resulting regression model is expected to be useful in the strategic analysis of road networks, including the optimization of road maintenance alternatives. ., Prosečni jedinični troškovi radova u projektima rekonstrukcije i rehabilitacije (RiR) puteva se značajno razlikuju među državama, ali i u okviru različitih projekata u istoj državi, i to usled mnogobrojnih faktora. U okviru ovog rada, formiran je model kojim bi bilo moguće predvideti troškove radova RiR u različitim državama i koji bi mogao da se primeni u analizama u sistemima za upravljanje održavanjem puteva na strateškom nivou i na nivou programiranja radova održavanja. Definisan model je formiran od promenljivih koje značajno doprinose regresiji. Izabrane su one promenljive kojima je moguće što bolje opisati zavisnu veličinu tj. jedinične troškove RiR puteva. Dobijena regresiona zavisnost bi mogla da bude korisna na nivou strateških analiza mreža i optimizacija planiranih radova RiR.",
publisher = "Srpsko društvo za puteve VIA-VITA, Beograd",
journal = "Put i saobraćaj",
title = "Model development for the preliminary cost estimates of road rehabilitation and reconstruction works, Procena troškova rehabilitacije i rekonstrukcije u sistemima za upravljanje održavanjem puteva",
pages = "13-5",
number = "2",
volume = "58",
url = "https://hdl.handle.net/21.15107/rcub_grafar_446"
}

Ćirilović, J., Vajdić, N., Mladenović, G.,& Queiroz, C.. (2012). Model development for the preliminary cost estimates of road rehabilitation and reconstruction works. in Put i saobraćaj
Srpsko društvo za puteve VIA-VITA, Beograd., 58(2), 5-13.
https://hdl.handle.net/21.15107/rcub_grafar_446

Ćirilović J, Vajdić N, Mladenović G, Queiroz C. Model development for the preliminary cost estimates of road rehabilitation and reconstruction works. in Put i saobraćaj. 2012;58(2):5-13.
https://hdl.handle.net/21.15107/rcub_grafar_446 .

Ćirilović, Jelena, Vajdić, Nevena, Mladenović, Goran, Queiroz, Cesar, "Model development for the preliminary cost estimates of road rehabilitation and reconstruction works" in Put i saobraćaj, 58, no. 2 (2012):5-13,
https://hdl.handle.net/21.15107/rcub_grafar_446 .

TY  - CONF
AU  - Ćirilović, Jelena
AU  - Vajdić, Nevena
AU  - Mladenović, Goran
AU  - Queiroz, Cesar
PY  - 2012
UR  - https://grafar.grf.bg.ac.rs/handle/123456789/455
AB  - Maintenance of existing road network represents a challenge for public road authorities who seek a balance between available budgets and the need for maintaining level of service at a satisfactory level on existing road sections. For this reason, prediction of cost for road rehabilitation and reconstruction works represents one of key inputs for the objective analysis of projects and available budgets and optimization of road maintenance alternatives. However, the average unit costs of road rehabilitation and reconstruction vary substantially between countries, and even between projects in the same country, due to a number of factors. In this paper an effort is made to develop a prediction model that could be applied for a wide range of conditions in different countries. A specialized dataset is used, which was generated under a World Bank study fora sample of road works contracts from 14 countries in Europe and Central Asia, signed between the years 2000 and 2010. The data sample for the analysis covers 94 projects of rehabilitation and reconstruction of flexible pavements. A multivariate regression analysis is used to evaluate the determinants of the cost per kilometer of the road rehabilitation or reconstruction. The explanatory variables that are tested in the model are divided in three groups: a Variables related to oil prices b Variables that are country specific c Variables that are project specific The variables included in the analyses were chosen in view of their potential explanatory power. The resulting regression model is expected to be useful in the strategic analysis of road networks, including the optimization of road maintenance alternatives.
C3  - Road and Rail Infrastructure Ii
T1  - Prediction model for the cost of road rehabilitation and reconstruction works
EP  - 395
SP  - 389
UR  - https://hdl.handle.net/21.15107/rcub_grafar_455
ER  - 

@conference{
author = "Ćirilović, Jelena and Vajdić, Nevena and Mladenović, Goran and Queiroz, Cesar",
year = "2012",
abstract = "Maintenance of existing road network represents a challenge for public road authorities who seek a balance between available budgets and the need for maintaining level of service at a satisfactory level on existing road sections. For this reason, prediction of cost for road rehabilitation and reconstruction works represents one of key inputs for the objective analysis of projects and available budgets and optimization of road maintenance alternatives. However, the average unit costs of road rehabilitation and reconstruction vary substantially between countries, and even between projects in the same country, due to a number of factors. In this paper an effort is made to develop a prediction model that could be applied for a wide range of conditions in different countries. A specialized dataset is used, which was generated under a World Bank study fora sample of road works contracts from 14 countries in Europe and Central Asia, signed between the years 2000 and 2010. The data sample for the analysis covers 94 projects of rehabilitation and reconstruction of flexible pavements. A multivariate regression analysis is used to evaluate the determinants of the cost per kilometer of the road rehabilitation or reconstruction. The explanatory variables that are tested in the model are divided in three groups: a Variables related to oil prices b Variables that are country specific c Variables that are project specific The variables included in the analyses were chosen in view of their potential explanatory power. The resulting regression model is expected to be useful in the strategic analysis of road networks, including the optimization of road maintenance alternatives.",
journal = "Road and Rail Infrastructure Ii",
title = "Prediction model for the cost of road rehabilitation and reconstruction works",
pages = "395-389",
url = "https://hdl.handle.net/21.15107/rcub_grafar_455"
}

Ćirilović, J., Vajdić, N., Mladenović, G.,& Queiroz, C.. (2012). Prediction model for the cost of road rehabilitation and reconstruction works. in Road and Rail Infrastructure Ii, 389-395.
https://hdl.handle.net/21.15107/rcub_grafar_455

Ćirilović J, Vajdić N, Mladenović G, Queiroz C. Prediction model for the cost of road rehabilitation and reconstruction works. in Road and Rail Infrastructure Ii. 2012;:389-395.
https://hdl.handle.net/21.15107/rcub_grafar_455 .

Ćirilović, Jelena, Vajdić, Nevena, Mladenović, Goran, Queiroz, Cesar, "Prediction model for the cost of road rehabilitation and reconstruction works" in Road and Rail Infrastructure Ii (2012):389-395,
https://hdl.handle.net/21.15107/rcub_grafar_455 .

TY  - JOUR
AU  - Mladenović, Goran
AU  - Vajdić, Nevena
PY  - 2011
UR  - https://grafar.grf.bg.ac.rs/handle/123456789/413
AB  - Pavement management systems have wide use in the optimization of road maintenance management. The primary criteria for evaluation of different maintenance strategic were mainly economic criteria expressed through either Net Present Value of differences between benefits and costs or Internal Rate of Return. The benefits were typically calculated as differences in users' costs for analyzed maintenance strategies. However, in recent years needs and expectations of road infrastructure and transport stakeholders go far beyond the provision of satisfying pavement structural and surface conditions. These needs and expectations also relate to asset (investment) preservation, safety (for all road users as well as road neighbors), noise, air quality, security, socio-economic and other environmental impacts as well as operation and maintenance costs. Therefore, there is a need to include all these aspects in the maintenance management systems where Key Performance Indicators (KPIs) are necessary and would provide a basis for future oriented decisions. The paper provides inventory and evaluation of several performance indicators and presents an example of their use in model HDM-4 for selection of optimal pavement maintenance strategy.
AB  - Sistemi za upravljanje održavanjem kolovoznih konstrukcija imaju široku primenu u optimizaciji održavanja puteva. Osnovni kriterijum za vrednovanje različitih strategija održavanja je bio ekonomski, izražen bilo kroz Neto sadašnju vrednost razlika između koristi i troškova ili kroz internu stopu rentabiliteta. Koristi se najčešće računaju kao razlika u troškovima korisnika za analizirane strategije održavanja. Međutim, poslednjih godina potrebe i očekivanja zainteresovanih strana u oblasti putne infrastrukture i saobraćaja idu mnogo dalje od obezbeđivanja nosivosti ili funkcionalnih karakteristika površine kolovoza. Ove potrebe i očekivanja se odnose i na potrebu očuvanja vrednosti infrastrukture, bezbednost (kako za korisnike puteva, tako i za ljude koji žive u njihovoj okolini), buku, kvalitet vazduha, društveno-ekonomske i druge uticaje na okolinu, kao i troškove upravljanja i održavanja. Stoga postoji potreba da se svi ovi aspekti uključe u sistem upravljanja održavanjem gde su ključni indikatori uticaja na okolinu neophodni i mogu obezbediti osnovu za donošenje odluka u budućnosti. U radu je dat pregled i izvršeno vrednovanje više indikatora uticaja na okolinu i prikazan primer njihove primene u modelu HDM-4 za utvrđivanje optimalne strategije održavanja puteva.
PB  - Naučno-stručno društvo za zaštitu životne sredine Srbije - Ecologica, Beograd
T2  - Ecologica
T1  - Assessment of environmental Key Performance Indicators for use in pavement management systems
T1  - Ocena ključnih indikatora uticaja na životnu sredinu i njihova primena u sistemima za upravljanje održavanjem kolovoznih konstrukcija
EP  - 466
IS  - 63
SP  - 461
VL  - 18
UR  - https://hdl.handle.net/21.15107/rcub_grafar_413
ER  - 

@article{
author = "Mladenović, Goran and Vajdić, Nevena",
year = "2011",
abstract = "Pavement management systems have wide use in the optimization of road maintenance management. The primary criteria for evaluation of different maintenance strategic were mainly economic criteria expressed through either Net Present Value of differences between benefits and costs or Internal Rate of Return. The benefits were typically calculated as differences in users' costs for analyzed maintenance strategies. However, in recent years needs and expectations of road infrastructure and transport stakeholders go far beyond the provision of satisfying pavement structural and surface conditions. These needs and expectations also relate to asset (investment) preservation, safety (for all road users as well as road neighbors), noise, air quality, security, socio-economic and other environmental impacts as well as operation and maintenance costs. Therefore, there is a need to include all these aspects in the maintenance management systems where Key Performance Indicators (KPIs) are necessary and would provide a basis for future oriented decisions. The paper provides inventory and evaluation of several performance indicators and presents an example of their use in model HDM-4 for selection of optimal pavement maintenance strategy., Sistemi za upravljanje održavanjem kolovoznih konstrukcija imaju široku primenu u optimizaciji održavanja puteva. Osnovni kriterijum za vrednovanje različitih strategija održavanja je bio ekonomski, izražen bilo kroz Neto sadašnju vrednost razlika između koristi i troškova ili kroz internu stopu rentabiliteta. Koristi se najčešće računaju kao razlika u troškovima korisnika za analizirane strategije održavanja. Međutim, poslednjih godina potrebe i očekivanja zainteresovanih strana u oblasti putne infrastrukture i saobraćaja idu mnogo dalje od obezbeđivanja nosivosti ili funkcionalnih karakteristika površine kolovoza. Ove potrebe i očekivanja se odnose i na potrebu očuvanja vrednosti infrastrukture, bezbednost (kako za korisnike puteva, tako i za ljude koji žive u njihovoj okolini), buku, kvalitet vazduha, društveno-ekonomske i druge uticaje na okolinu, kao i troškove upravljanja i održavanja. Stoga postoji potreba da se svi ovi aspekti uključe u sistem upravljanja održavanjem gde su ključni indikatori uticaja na okolinu neophodni i mogu obezbediti osnovu za donošenje odluka u budućnosti. U radu je dat pregled i izvršeno vrednovanje više indikatora uticaja na okolinu i prikazan primer njihove primene u modelu HDM-4 za utvrđivanje optimalne strategije održavanja puteva.",
publisher = "Naučno-stručno društvo za zaštitu životne sredine Srbije - Ecologica, Beograd",
journal = "Ecologica",
title = "Assessment of environmental Key Performance Indicators for use in pavement management systems, Ocena ključnih indikatora uticaja na životnu sredinu i njihova primena u sistemima za upravljanje održavanjem kolovoznih konstrukcija",
pages = "466-461",
number = "63",
volume = "18",
url = "https://hdl.handle.net/21.15107/rcub_grafar_413"
}

Mladenović, G.,& Vajdić, N.. (2011). Assessment of environmental Key Performance Indicators for use in pavement management systems. in Ecologica
Naučno-stručno društvo za zaštitu životne sredine Srbije - Ecologica, Beograd., 18(63), 461-466.
https://hdl.handle.net/21.15107/rcub_grafar_413

Mladenović G, Vajdić N. Assessment of environmental Key Performance Indicators for use in pavement management systems. in Ecologica. 2011;18(63):461-466.
https://hdl.handle.net/21.15107/rcub_grafar_413 .

Mladenović, Goran, Vajdić, Nevena, "Assessment of environmental Key Performance Indicators for use in pavement management systems" in Ecologica, 18, no. 63 (2011):461-466,
https://hdl.handle.net/21.15107/rcub_grafar_413 .