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  - CONF
AU  - Queiroz, Cesar
AU  - Mladenovic, Goran
PY  - 2021
UR  - https://grafar.grf.bg.ac.rs/handle/123456789/2588
AB  - In several countries public budgets cannot provide all the funds needed to build priority transport and other infrastructure projects that are economically justified and environmentally and socially sound. Under certain circumstances, projects meeting such conditions can be implemented by involving private financing, through public-private partnerships (PPP), which is a means to get projects completed by leveraging scarce public resources. 
Priority highway PPP projects may require toll rates above the affordability level of road users, particularly when construction costs are relatively high and traffic volumes are relatively low. The provision of capital grants and/or availability payments to the concessionaire (i.e., the private partner) by the government (i.e., the public partner) would reduce the toll rate required to attract private investors for the project. Such projects, where the sources of revenue to the private partner (or concessionaire) include both the users of the facility and the government, are usually called hybrid PPPs. 
A key step in assuring that a proposed PPP highway project would attract private investors is to determine whether financial public support would be required, and if so, how much. To this endeavor, this paper reviews and applies a hybrid PPP financial model for highways that facilitates carrying out projects' financial viability by decision makers and practitioners. 
A numerical case study is used to illustrate applications of the model to conditions deemed representative of Southeastern European countries. The main outputs generated by the model include the project’s internal rate of return, equity internal rate of return, annual debt service coverage ratio, and the present value of the government’s cash flow. A sensitivity analysis carried out shows the impact of key input parameters on the main outputs.
PB  - Department of Transportation, Faculty of Civil Engineering, University of Zagreb, Croatia
C3  - Road and Rail Infrastructure VI, Proceedings of the Conference CETRA 2020
T1  - Combining Capital Grant and Availability Payment to Keep Toll Rates Affordable
DO  - 10.5592/Co/CETRA.2020
ER  - 

@conference{
author = "Queiroz, Cesar and Mladenovic, Goran",
year = "2021",
abstract = "In several countries public budgets cannot provide all the funds needed to build priority transport and other infrastructure projects that are economically justified and environmentally and socially sound. Under certain circumstances, projects meeting such conditions can be implemented by involving private financing, through public-private partnerships (PPP), which is a means to get projects completed by leveraging scarce public resources. 
Priority highway PPP projects may require toll rates above the affordability level of road users, particularly when construction costs are relatively high and traffic volumes are relatively low. The provision of capital grants and/or availability payments to the concessionaire (i.e., the private partner) by the government (i.e., the public partner) would reduce the toll rate required to attract private investors for the project. Such projects, where the sources of revenue to the private partner (or concessionaire) include both the users of the facility and the government, are usually called hybrid PPPs. 
A key step in assuring that a proposed PPP highway project would attract private investors is to determine whether financial public support would be required, and if so, how much. To this endeavor, this paper reviews and applies a hybrid PPP financial model for highways that facilitates carrying out projects' financial viability by decision makers and practitioners. 
A numerical case study is used to illustrate applications of the model to conditions deemed representative of Southeastern European countries. The main outputs generated by the model include the project’s internal rate of return, equity internal rate of return, annual debt service coverage ratio, and the present value of the government’s cash flow. A sensitivity analysis carried out shows the impact of key input parameters on the main outputs.",
publisher = "Department of Transportation, Faculty of Civil Engineering, University of Zagreb, Croatia",
journal = "Road and Rail Infrastructure VI, Proceedings of the Conference CETRA 2020",
title = "Combining Capital Grant and Availability Payment to Keep Toll Rates Affordable",
doi = "10.5592/Co/CETRA.2020"
}

Queiroz, C.,& Mladenovic, G.. (2021). Combining Capital Grant and Availability Payment to Keep Toll Rates Affordable. in Road and Rail Infrastructure VI, Proceedings of the Conference CETRA 2020
Department of Transportation, Faculty of Civil Engineering, University of Zagreb, Croatia..
https://doi.org/10.5592/Co/CETRA.2020

Queiroz C, Mladenovic G. Combining Capital Grant and Availability Payment to Keep Toll Rates Affordable. in Road and Rail Infrastructure VI, Proceedings of the Conference CETRA 2020. 2021;.
doi:10.5592/Co/CETRA.2020 .

Queiroz, Cesar, Mladenovic, Goran, "Combining Capital Grant and Availability Payment to Keep Toll Rates Affordable" in Road and Rail Infrastructure VI, Proceedings of the Conference CETRA 2020 (2021),
https://doi.org/10.5592/Co/CETRA.2020 . .

TY  - CONF
AU  - Queiroz, Cesar
AU  - Mladenovic, Goran
PY  - 2021
UR  - https://grafar.grf.bg.ac.rs/handle/123456789/2587
AB  - While countries worldwide have used public-private partnerships (PPP) to improve their road networks, such investments have not yet materialized in Bosnia and Herzegovina (BiH). Attracting private financing to road projects would help the country to keep road infrastructure in acceptable condition and carry out required expansions under budgetary constraints. Because of relatively low traffic levels on potential PPP motorways and expressways in BiH, it is anticipated that a combination of government support (e.g., capital grants and/or availability payments) and toll collection would generate enough revenues to attract private partners to compete for public-private partnership (PPP) road projects in BiH. The paper presents, as a case study, the quantitative financial assessment of a potential PPP project, the Mostar – Zvirovići motorway section, showing that the project could attract private investors with a combination of availability payments and construction subsidies to keep the toll rates at the deemed affordable level of €0.06/car-km.
PB  - American Society of Civil Engineers
PB  - The Transportation & Development Institute
C3  - Selected Papers from the Proceedings of the International Conference on Transportation and Development 2021
T1  - Attracting Private Financing to Roads: Case Study of Bosnia and Herzegovina
EP  - 121
SP  - 110
VL  - II
UR  - https://hdl.handle.net/21.15107/rcub_grafar_2587
ER  - 

@conference{
author = "Queiroz, Cesar and Mladenovic, Goran",
year = "2021",
abstract = "While countries worldwide have used public-private partnerships (PPP) to improve their road networks, such investments have not yet materialized in Bosnia and Herzegovina (BiH). Attracting private financing to road projects would help the country to keep road infrastructure in acceptable condition and carry out required expansions under budgetary constraints. Because of relatively low traffic levels on potential PPP motorways and expressways in BiH, it is anticipated that a combination of government support (e.g., capital grants and/or availability payments) and toll collection would generate enough revenues to attract private partners to compete for public-private partnership (PPP) road projects in BiH. The paper presents, as a case study, the quantitative financial assessment of a potential PPP project, the Mostar – Zvirovići motorway section, showing that the project could attract private investors with a combination of availability payments and construction subsidies to keep the toll rates at the deemed affordable level of €0.06/car-km.",
publisher = "American Society of Civil Engineers, The Transportation & Development Institute",
journal = "Selected Papers from the Proceedings of the International Conference on Transportation and Development 2021",
title = "Attracting Private Financing to Roads: Case Study of Bosnia and Herzegovina",
pages = "121-110",
volume = "II",
url = "https://hdl.handle.net/21.15107/rcub_grafar_2587"
}

Queiroz, C.,& Mladenovic, G.. (2021). Attracting Private Financing to Roads: Case Study of Bosnia and Herzegovina. in Selected Papers from the Proceedings of the International Conference on Transportation and Development 2021
American Society of Civil Engineers., II, 110-121.
https://hdl.handle.net/21.15107/rcub_grafar_2587

Queiroz C, Mladenovic G. Attracting Private Financing to Roads: Case Study of Bosnia and Herzegovina. in Selected Papers from the Proceedings of the International Conference on Transportation and Development 2021. 2021;II:110-121.
https://hdl.handle.net/21.15107/rcub_grafar_2587 .

Queiroz, Cesar, Mladenovic, Goran, "Attracting Private Financing to Roads: Case Study of Bosnia and Herzegovina" in Selected Papers from the Proceedings of the International Conference on Transportation and Development 2021, II (2021):110-121,
https://hdl.handle.net/21.15107/rcub_grafar_2587 .

TY  - CONF
AU  - Queiroz, Cesar
AU  - Mladenović, Goran
PY  - 2020
UR  - https://grafar.grf.bg.ac.rs/handle/123456789/1924
AB  - Governments not always have the funds to build transport and other infrastructure projects that are economically justified and environmentally and socially sound. Under certain circumstances, projects meeting such conditions can be implemented by involving private financing, through public-private partnerships (PPP), which is a means to get projects completed by leveraging scarce public resources. In a PPP project, the sources of revenue to the private partner (or concessionaire) may include (i) the users of the facility (e.g., road tolling), (ii) the government (e.g. through availability payments, capital grants and shadow tolls), and (iii) both users and government, which is usually called a hybrid concession. As a key step in considering attracting private investors for such projects, decision makers and practitioners need to assess their financial viability, an endeavor that can be greatly facilitated by relatively simple tools now available. This paper reviews and provides case studies of two existing tools for assessing the financial viability of: (i) hybrid road PPP projects, which involve both tolls and availability payments; and (ii) output- and performance-based road contracts (OPBRC), which involves payments by the government. The main output generated by both models include the project’s internal rate of return, equity internal rate of return, annual debt service coverage ratio and the present value of the government’s cash flow.
PB  - Elsevier
C3  - Transport Research Procedia
T1  - A Review of Tools for Project Financial Assessments
EP  - 61
SP  - 54
VL  - 45
DO  - 10.1016/j.trpro.2020.02.062
ER  - 

@conference{
author = "Queiroz, Cesar and Mladenović, Goran",
year = "2020",
abstract = "Governments not always have the funds to build transport and other infrastructure projects that are economically justified and environmentally and socially sound. Under certain circumstances, projects meeting such conditions can be implemented by involving private financing, through public-private partnerships (PPP), which is a means to get projects completed by leveraging scarce public resources. In a PPP project, the sources of revenue to the private partner (or concessionaire) may include (i) the users of the facility (e.g., road tolling), (ii) the government (e.g. through availability payments, capital grants and shadow tolls), and (iii) both users and government, which is usually called a hybrid concession. As a key step in considering attracting private investors for such projects, decision makers and practitioners need to assess their financial viability, an endeavor that can be greatly facilitated by relatively simple tools now available. This paper reviews and provides case studies of two existing tools for assessing the financial viability of: (i) hybrid road PPP projects, which involve both tolls and availability payments; and (ii) output- and performance-based road contracts (OPBRC), which involves payments by the government. The main output generated by both models include the project’s internal rate of return, equity internal rate of return, annual debt service coverage ratio and the present value of the government’s cash flow.",
publisher = "Elsevier",
journal = "Transport Research Procedia",
title = "A Review of Tools for Project Financial Assessments",
pages = "61-54",
volume = "45",
doi = "10.1016/j.trpro.2020.02.062"
}

Queiroz, C.,& Mladenović, G.. (2020). A Review of Tools for Project Financial Assessments. in Transport Research Procedia
Elsevier., 45, 54-61.
https://doi.org/10.1016/j.trpro.2020.02.062

Queiroz C, Mladenović G. A Review of Tools for Project Financial Assessments. in Transport Research Procedia. 2020;45:54-61.
doi:10.1016/j.trpro.2020.02.062 .

Queiroz, Cesar, Mladenović, Goran, "A Review of Tools for Project Financial Assessments" in Transport Research Procedia, 45 (2020):54-61,
https://doi.org/10.1016/j.trpro.2020.02.062 . .

TY  - CONF
AU  - Ćirilović, Jelena
AU  - Mladenović, Goran
AU  - Queiroz, Cesar
PY  - 2019
UR  - https://grafar.grf.bg.ac.rs/handle/123456789/988
AB  - Pavement management systems tend to lead to sound decision making regarding the optimal maintenance strategy which is, in most cases, based on the achievement of minimal total society costs which are defined as the sum of user cost and road agency cost. In the last several years, in addition to the user cost related to the costs of gasoline or diesel fuel, motor oil, spare parts, pneumatics, costs related to travel time and accidents, costs related to environmental impacts have been also considered as significant contributors to overall costs. The objective of this paper is to present a model that integrates Life Cycle Assessment (LCA) and Life Cycle Cost Analysis (LCCA), on a network level. The model has been applied on the national road network of Serbia. The results show how this integrated approach leads to more sound decision making compared with current state of practice.
PB  - CRC Press/Balkema
C3  - Pavement and Asset Management - Proceedings of the World Conference on Pavement and Asset Management
T1  - Integrated LCA and LCCA network level pavement maintenance model
EP  - 684
SP  - 677
UR  - https://hdl.handle.net/21.15107/rcub_grafar_988
ER  - 

@conference{
author = "Ćirilović, Jelena and Mladenović, Goran and Queiroz, Cesar",
year = "2019",
abstract = "Pavement management systems tend to lead to sound decision making regarding the optimal maintenance strategy which is, in most cases, based on the achievement of minimal total society costs which are defined as the sum of user cost and road agency cost. In the last several years, in addition to the user cost related to the costs of gasoline or diesel fuel, motor oil, spare parts, pneumatics, costs related to travel time and accidents, costs related to environmental impacts have been also considered as significant contributors to overall costs. The objective of this paper is to present a model that integrates Life Cycle Assessment (LCA) and Life Cycle Cost Analysis (LCCA), on a network level. The model has been applied on the national road network of Serbia. The results show how this integrated approach leads to more sound decision making compared with current state of practice.",
publisher = "CRC Press/Balkema",
journal = "Pavement and Asset Management - Proceedings of the World Conference on Pavement and Asset Management",
title = "Integrated LCA and LCCA network level pavement maintenance model",
pages = "684-677",
url = "https://hdl.handle.net/21.15107/rcub_grafar_988"
}

Ćirilović, J., Mladenović, G.,& Queiroz, C.. (2019). Integrated LCA and LCCA network level pavement maintenance model. in Pavement and Asset Management - Proceedings of the World Conference on Pavement and Asset Management
CRC Press/Balkema., 677-684.
https://hdl.handle.net/21.15107/rcub_grafar_988

Ćirilović J, Mladenović G, Queiroz C. Integrated LCA and LCCA network level pavement maintenance model. in Pavement and Asset Management - Proceedings of the World Conference on Pavement and Asset Management. 2019;:677-684.
https://hdl.handle.net/21.15107/rcub_grafar_988 .

Ćirilović, Jelena, Mladenović, Goran, Queiroz, Cesar, "Integrated LCA and LCCA network level pavement maintenance model" in Pavement and Asset Management - Proceedings of the World Conference on Pavement and Asset Management (2019):677-684,
https://hdl.handle.net/21.15107/rcub_grafar_988 .

TY  - JOUR
AU  - Ćirilović-Stanković, Jelena
AU  - Mladenović, Goran
AU  - Queiroz, Cesar
PY  - 2019
UR  - https://grafar.grf.bg.ac.rs/handle/123456789/1728
AB  - About 20% of the Serbian national road network has sections with low volume traffic. These sections are maintained in relatively poor condition since the maintenance budget is typically allocated to the road sections with most traffic. This paper aims to define the appropriate maintenance policy for keeping these sections in ‘‘optimal’’ condition. The traditional approach has been to consider as optimal the condition leading to the minimum sum of road agency costs and road user costs.
However, currently there is an emphasis on including environmental cost (greenhouse gas emissions, in particular) into pavement management systems. This extends the concept of optimum by defining it as the maintenance policy leading to the minimum sum of (a) road agency costs, (b) road user costs, and (c) the cost to society of CO2 emissions. Three potential influencing factors are further analyzed: traffic loading, pavement structural number, and the initial condition of the road section.
The World Bank’s Road Network Evaluation Tools (RONET) model was used to analyze the Serbian low volume road network and develop the optimal maintenance policy. The results show that the cost of CO2 emissions plays an important role in calculating the optimal policy, but unlike the high volume parts of the road network, in the case of low volume roads, a substantial part of total emissions is related to the production and placement of new pavement layers, rather than from vehicle emissions.
PB  - National Academy of Sciences, Transportation Research Board
PB  - SAGE Publications
T2  - Transportation Research Record
T1  - Impact of CO2 Emissions on Low Volume Road Maintenance Policy: Case Study of Serbia
DO  - 10.1177/0361198119854083
ER  - 

@article{
author = "Ćirilović-Stanković, Jelena and Mladenović, Goran and Queiroz, Cesar",
year = "2019",
abstract = "About 20% of the Serbian national road network has sections with low volume traffic. These sections are maintained in relatively poor condition since the maintenance budget is typically allocated to the road sections with most traffic. This paper aims to define the appropriate maintenance policy for keeping these sections in ‘‘optimal’’ condition. The traditional approach has been to consider as optimal the condition leading to the minimum sum of road agency costs and road user costs.
However, currently there is an emphasis on including environmental cost (greenhouse gas emissions, in particular) into pavement management systems. This extends the concept of optimum by defining it as the maintenance policy leading to the minimum sum of (a) road agency costs, (b) road user costs, and (c) the cost to society of CO2 emissions. Three potential influencing factors are further analyzed: traffic loading, pavement structural number, and the initial condition of the road section.
The World Bank’s Road Network Evaluation Tools (RONET) model was used to analyze the Serbian low volume road network and develop the optimal maintenance policy. The results show that the cost of CO2 emissions plays an important role in calculating the optimal policy, but unlike the high volume parts of the road network, in the case of low volume roads, a substantial part of total emissions is related to the production and placement of new pavement layers, rather than from vehicle emissions.",
publisher = "National Academy of Sciences, Transportation Research Board, SAGE Publications",
journal = "Transportation Research Record",
title = "Impact of CO2 Emissions on Low Volume Road Maintenance Policy: Case Study of Serbia",
doi = "10.1177/0361198119854083"
}

Ćirilović-Stanković, J., Mladenović, G.,& Queiroz, C.. (2019). Impact of CO2 Emissions on Low Volume Road Maintenance Policy: Case Study of Serbia. in Transportation Research Record
National Academy of Sciences, Transportation Research Board..
https://doi.org/10.1177/0361198119854083

Ćirilović-Stanković J, Mladenović G, Queiroz C. Impact of CO2 Emissions on Low Volume Road Maintenance Policy: Case Study of Serbia. in Transportation Research Record. 2019;.
doi:10.1177/0361198119854083 .

Ćirilović-Stanković, Jelena, Mladenović, Goran, Queiroz, Cesar, "Impact of CO2 Emissions on Low Volume Road Maintenance Policy: Case Study of Serbia" in Transportation Research Record (2019),
https://doi.org/10.1177/0361198119854083 . .

TY  - CONF
AU  - Mladenović, Goran
AU  - Queiroz, Cesar
PY  - 2018
UR  - https://grafar.grf.bg.ac.rs/handle/123456789/1614
AB  - In transport infrastructure concessions, the sources of revenue to the private partner (or concessionaire) may include (i) the infrastructure users (e.g., tolling, in the case of roads), (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 road concession where the concessionaire is allowed to charge tolls to the road users but, because of relatively low revenues, the government agency might have to complement the toll revenue. 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 road concessions involving both tolling and government payments. The methodology described for roads can also be applied to other forms of transport infrastructure. A practical application of the model is demonstrated in the paper. For example, given traffic volumes and maximum acceptable toll rates for a particular road project, the model can be used to estimate the minimum availability payment that would be required for the project to attract private sector interest, that is, potential bidders in a competitive bidding scenario. The model can also be used to carry out sensitivity analyses of the impact of key input parameters on outputs such as the investors return on equity and annual debt service cover ratio.
PB  - City Net Scientific Research Center Ltd. Belgrade, Belgrade
C3  - International Conference on Traffic and Transport Engineering ICTTE, September 27-28th, 2018 Belgrade, Serbia
T1  - Enhancing the financial feasibility of PPP projects with hybrid funding
EP  - 599
SP  - 592
UR  - https://hdl.handle.net/21.15107/rcub_grafar_1614
ER  - 

@conference{
author = "Mladenović, Goran and Queiroz, Cesar",
year = "2018",
abstract = "In transport infrastructure concessions, the sources of revenue to the private partner (or concessionaire) may include (i) the infrastructure users (e.g., tolling, in the case of roads), (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 road concession where the concessionaire is allowed to charge tolls to the road users but, because of relatively low revenues, the government agency might have to complement the toll revenue. 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 road concessions involving both tolling and government payments. The methodology described for roads can also be applied to other forms of transport infrastructure. A practical application of the model is demonstrated in the paper. For example, given traffic volumes and maximum acceptable toll rates for a particular road project, the model can be used to estimate the minimum availability payment that would be required for the project to attract private sector interest, that is, potential bidders in a competitive bidding scenario. The model can also be used to carry out sensitivity analyses of the impact of key input parameters on outputs such as the investors return on equity and annual debt service cover ratio.",
publisher = "City Net Scientific Research Center Ltd. Belgrade, Belgrade",
journal = "International Conference on Traffic and Transport Engineering ICTTE, September 27-28th, 2018 Belgrade, Serbia",
title = "Enhancing the financial feasibility of PPP projects with hybrid funding",
pages = "599-592",
url = "https://hdl.handle.net/21.15107/rcub_grafar_1614"
}

Mladenović, G.,& Queiroz, C.. (2018). Enhancing the financial feasibility of PPP projects with hybrid funding. in International Conference on Traffic and Transport Engineering ICTTE, September 27-28th, 2018 Belgrade, Serbia
City Net Scientific Research Center Ltd. Belgrade, Belgrade., 592-599.
https://hdl.handle.net/21.15107/rcub_grafar_1614

Mladenović G, Queiroz C. Enhancing the financial feasibility of PPP projects with hybrid funding. in International Conference on Traffic and Transport Engineering ICTTE, September 27-28th, 2018 Belgrade, Serbia. 2018;:592-599.
https://hdl.handle.net/21.15107/rcub_grafar_1614 .

Mladenović, Goran, Queiroz, Cesar, "Enhancing the financial feasibility of PPP projects with hybrid funding" in International Conference on Traffic and Transport Engineering ICTTE, September 27-28th, 2018 Belgrade, Serbia (2018):592-599,
https://hdl.handle.net/21.15107/rcub_grafar_1614 .

TY  - 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 . .

TY  - CONF
AU  - Mladenović, Goran
AU  - Queiroz, Cesar
PY  - 2017
UR  - https://grafar.grf.bg.ac.rs/handle/123456789/1516
AB  - In a road concession, the sources of revenue to the private partner (or concessionaire) may include (i) the road users (e.g., tolling), (ii) the government (e.g. through availability payments), and (iii) both road users and government, which might be called a hybrid concession. An example of the latter is a road concession where the concessionaire is allowed to charge tolls to the road users but, because of relatively low traffic volumes and/or toll rates, the government agency (e.g. roads department) would have to complement the toll revenue, for example through annual payments, which are usually called availability payments (or annuities, as in South Asia). This paper summarizes the cases where it may be justified for the government to complement toll revenues and describes a model developed for the financial assessment of road concessions involving both tolling and availability payments. A practical application of the model is demonstrated in the paper. For example, given traffic volumes and maximum acceptable toll rates for a particular road project, the model can be used to estimate the minimum availability payment that would be required for the project to attract private sector interest, that is, potential bidders in a competitive bidding scenario. The model can also be used to carry out sensitivity analyses of the impact of key input parameters (e.g. capital cost, concession life, loan terms) on outputs such as the investors return on equity and annual debt service cover ratio.
PB  - Transportation Research Board, Washington
C3  - TRB 96th Annual Meeting Compendium of Papers
T1  - Assessing the financial feasibility of road concessions involving tolling and availability payments
EP  - 1117
SP  - 17
UR  - https://hdl.handle.net/21.15107/rcub_grafar_1516
ER  - 

@conference{
author = "Mladenović, Goran and Queiroz, Cesar",
year = "2017",
abstract = "In a road concession, the sources of revenue to the private partner (or concessionaire) may include (i) the road users (e.g., tolling), (ii) the government (e.g. through availability payments), and (iii) both road users and government, which might be called a hybrid concession. An example of the latter is a road concession where the concessionaire is allowed to charge tolls to the road users but, because of relatively low traffic volumes and/or toll rates, the government agency (e.g. roads department) would have to complement the toll revenue, for example through annual payments, which are usually called availability payments (or annuities, as in South Asia). This paper summarizes the cases where it may be justified for the government to complement toll revenues and describes a model developed for the financial assessment of road concessions involving both tolling and availability payments. A practical application of the model is demonstrated in the paper. For example, given traffic volumes and maximum acceptable toll rates for a particular road project, the model can be used to estimate the minimum availability payment that would be required for the project to attract private sector interest, that is, potential bidders in a competitive bidding scenario. The model can also be used to carry out sensitivity analyses of the impact of key input parameters (e.g. capital cost, concession life, loan terms) on outputs such as the investors return on equity and annual debt service cover ratio.",
publisher = "Transportation Research Board, Washington",
journal = "TRB 96th Annual Meeting Compendium of Papers",
title = "Assessing the financial feasibility of road concessions involving tolling and availability payments",
pages = "1117-17",
url = "https://hdl.handle.net/21.15107/rcub_grafar_1516"
}

Mladenović, G.,& Queiroz, C.. (2017). Assessing the financial feasibility of road concessions involving tolling and availability payments. in TRB 96th Annual Meeting Compendium of Papers
Transportation Research Board, Washington., 17-1117.
https://hdl.handle.net/21.15107/rcub_grafar_1516

Mladenović G, Queiroz C. Assessing the financial feasibility of road concessions involving tolling and availability payments. in TRB 96th Annual Meeting Compendium of Papers. 2017;:17-1117.
https://hdl.handle.net/21.15107/rcub_grafar_1516 .

Mladenović, Goran, Queiroz, Cesar, "Assessing the financial feasibility of road concessions involving tolling and availability payments" in TRB 96th Annual Meeting Compendium of Papers (2017):17-1117,
https://hdl.handle.net/21.15107/rcub_grafar_1516 .

TY  - CONF
AU  - Ćirilović, Jelena
AU  - Mladenović, Goran
AU  - Queiroz, Cesar
PY  - 2017
UR  - https://grafar.grf.bg.ac.rs/handle/123456789/1554
AB  - In addition to their attempt to lower overall maintenance costs while keeping their road networks in the appropriate condition, road agencies are facing even more demanding challenges as they incorporate effects of global climate change and other environmental impacts into their decision making process. Many studies and research initiatives have shown the impact of pavement condition on vehicle fuel consumption and maintenance costs, indicating that maintaining the pavement network at lower roughness levels would reduce fuel and parts consumption, which is beneficial for the users. On the other hand, the more intensive pavement maintenance, which is required to keep road networks in better condition, is accompanied by substantial emissions and negative environmental impacts. New technologies are emerging worldwide which tend to prolong the period between road maintenance interventions. However, these technologies, in many cases, require high upfront investments, which may be acceptable (even recommendable) if one considers the whole life of a pavement. The objective of this paper is to find an optimal maintenance plan at network level that minimizes the total cost to society, that is the sum of: (i) the environmental impact cost during the entire pavement life-cycle; (ii) agency costs (i.e. cost of pavement maintenance and improvement works); and (iii) user costs (or vehicle operating cost - VOC). A methodology is proposed to this endeavor, which is illustrated through a case study of the Serbian road network, including new technologies that extend the period between maintenance interventions.
PB  - Transportation Research Board, Washington
C3  - TRB 96th Annual Meeting Compendium of Papers
T1  - Integration of GHG cost into network-level pavement management: case study of Serbian road network
EP  - 3380
SP  - 17
UR  - https://hdl.handle.net/21.15107/rcub_grafar_1554
ER  - 

@conference{
author = "Ćirilović, Jelena and Mladenović, Goran and Queiroz, Cesar",
year = "2017",
abstract = "In addition to their attempt to lower overall maintenance costs while keeping their road networks in the appropriate condition, road agencies are facing even more demanding challenges as they incorporate effects of global climate change and other environmental impacts into their decision making process. Many studies and research initiatives have shown the impact of pavement condition on vehicle fuel consumption and maintenance costs, indicating that maintaining the pavement network at lower roughness levels would reduce fuel and parts consumption, which is beneficial for the users. On the other hand, the more intensive pavement maintenance, which is required to keep road networks in better condition, is accompanied by substantial emissions and negative environmental impacts. New technologies are emerging worldwide which tend to prolong the period between road maintenance interventions. However, these technologies, in many cases, require high upfront investments, which may be acceptable (even recommendable) if one considers the whole life of a pavement. The objective of this paper is to find an optimal maintenance plan at network level that minimizes the total cost to society, that is the sum of: (i) the environmental impact cost during the entire pavement life-cycle; (ii) agency costs (i.e. cost of pavement maintenance and improvement works); and (iii) user costs (or vehicle operating cost - VOC). A methodology is proposed to this endeavor, which is illustrated through a case study of the Serbian road network, including new technologies that extend the period between maintenance interventions.",
publisher = "Transportation Research Board, Washington",
journal = "TRB 96th Annual Meeting Compendium of Papers",
title = "Integration of GHG cost into network-level pavement management: case study of Serbian road network",
pages = "3380-17",
url = "https://hdl.handle.net/21.15107/rcub_grafar_1554"
}

Ćirilović, J., Mladenović, G.,& Queiroz, C.. (2017). Integration of GHG cost into network-level pavement management: case study of Serbian road network. in TRB 96th Annual Meeting Compendium of Papers
Transportation Research Board, Washington., 17-3380.
https://hdl.handle.net/21.15107/rcub_grafar_1554

Ćirilović J, Mladenović G, Queiroz C. Integration of GHG cost into network-level pavement management: case study of Serbian road network. in TRB 96th Annual Meeting Compendium of Papers. 2017;:17-3380.
https://hdl.handle.net/21.15107/rcub_grafar_1554 .

Ćirilović, Jelena, Mladenović, Goran, Queiroz, Cesar, "Integration of GHG cost into network-level pavement management: case study of Serbian road network" in TRB 96th Annual Meeting Compendium of Papers (2017):17-3380,
https://hdl.handle.net/21.15107/rcub_grafar_1554 .

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  - 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  - JOUR
AU  - Ćirilović, Jelena
AU  - Mladenović, Goran
AU  - Queiroz, Cesar
PY  - 2015
UR  - https://grafar.grf.bg.ac.rs/handle/123456789/672
AB  - Application of appropriate preventive maintenance treatments, at the right time, extends the service life of pavements, resulting in benefits to road users through increased ride comfort and safety and to road agencies through the reduction of future maintenance costs and improvement of the network condition. Preventive maintenance treatments usually have been applied on the highly trafficked sections of the Serbian national road network, but they have not been applied on the low-volume part of the network. This study used the Serbian low-volume roads network as a case study to identify appropriate preventive maintenance treatments for low-volume roads, model these into a pavement management system, and assess the potential benefits of their application compared with the current practice. The World Bank's RONET (road network evaluation tools) model, designed to assess the current characteristics of road networks and their future performance according to various levels of interventions (and budgets), was selected for this study. The model was modified for the study to incorporate use of preventive maintenance treatments. Modifications included adjustment of the pavement deterioration curves to incorporate a slower deterioration rate resulting from the application of crack sealing and pothole patching and surface dressings or thin overlays while the pavement was still in good condition. The results indicate that the use of preventive maintenance treatments would result in increased net benefits and a substantial reduction in future road agency costs compared with the maintenance scenario without preventive maintenance.
T2  - Transportation Research Record
T1  - Implementation of Preventive Maintenance in Network-Level Optimization Case Study of the Serbian Low-Volume Road Network
EP  - 55
IS  - 2473
SP  - 49
DO  - 10.3141/2473-06
ER  - 

@article{
author = "Ćirilović, Jelena and Mladenović, Goran and Queiroz, Cesar",
year = "2015",
abstract = "Application of appropriate preventive maintenance treatments, at the right time, extends the service life of pavements, resulting in benefits to road users through increased ride comfort and safety and to road agencies through the reduction of future maintenance costs and improvement of the network condition. Preventive maintenance treatments usually have been applied on the highly trafficked sections of the Serbian national road network, but they have not been applied on the low-volume part of the network. This study used the Serbian low-volume roads network as a case study to identify appropriate preventive maintenance treatments for low-volume roads, model these into a pavement management system, and assess the potential benefits of their application compared with the current practice. The World Bank's RONET (road network evaluation tools) model, designed to assess the current characteristics of road networks and their future performance according to various levels of interventions (and budgets), was selected for this study. The model was modified for the study to incorporate use of preventive maintenance treatments. Modifications included adjustment of the pavement deterioration curves to incorporate a slower deterioration rate resulting from the application of crack sealing and pothole patching and surface dressings or thin overlays while the pavement was still in good condition. The results indicate that the use of preventive maintenance treatments would result in increased net benefits and a substantial reduction in future road agency costs compared with the maintenance scenario without preventive maintenance.",
journal = "Transportation Research Record",
title = "Implementation of Preventive Maintenance in Network-Level Optimization Case Study of the Serbian Low-Volume Road Network",
pages = "55-49",
number = "2473",
doi = "10.3141/2473-06"
}

Ćirilović, J., Mladenović, G.,& Queiroz, C.. (2015). Implementation of Preventive Maintenance in Network-Level Optimization Case Study of the Serbian Low-Volume Road Network. in Transportation Research Record(2473), 49-55.
https://doi.org/10.3141/2473-06

Ćirilović J, Mladenović G, Queiroz C. Implementation of Preventive Maintenance in Network-Level Optimization Case Study of the Serbian Low-Volume Road Network. in Transportation Research Record. 2015;(2473):49-55.
doi:10.3141/2473-06 .

Ćirilović, Jelena, Mladenović, Goran, Queiroz, Cesar, "Implementation of Preventive Maintenance in Network-Level Optimization Case Study of the Serbian Low-Volume Road Network" in Transportation Research Record, no. 2473 (2015):49-55,
https://doi.org/10.3141/2473-06 . .

TY  - CONF
AU  - Ćirilović, Jelena
AU  - Mladenović, Goran
AU  - Queiroz, Cesar
PY  - 2015
UR  - https://grafar.grf.bg.ac.rs/handle/123456789/1280
AB  - In addition to the need to lower the overall maintenance cost while keeping their road networks in the appropriate condition, road agencies are facing even more demanding challenges, including incorporating global climate change and environmental impacts into their decision process. Many studies and research initiatives have modeled the impact of pavement condition on vehicle fuel consumption and maintenance costs, indicating that maintaining the pavement network at the lowest roughness level would lower fuel and parts consumption, which is beneficial for the environment. On the other hand, the more intensive pavement maintenance, which is required to keep up roads as smooth as possible, is accompanied with the extensive emissions and negative environmental impact. The objective of this paper is to find an optimal maintenance plan at network level that minimizes environmental impact during the entire pavement life-cycle, which includes both traffic and maintenance works.
PB  - CRC Press/Balcema Taylor & Francis Group, London
C3  - Bituminous Mixtures & Pavements VI, Proceedings of the 6th international conference on bituminous mixtures and pavements, Thessaloniki, Greece, 1012 June 2015,
T1  - Network-level pavement life-cycle assessment tool
EP  - 523
SP  - 519
UR  - https://hdl.handle.net/21.15107/rcub_grafar_1280
ER  - 

@conference{
author = "Ćirilović, Jelena and Mladenović, Goran and Queiroz, Cesar",
year = "2015",
abstract = "In addition to the need to lower the overall maintenance cost while keeping their road networks in the appropriate condition, road agencies are facing even more demanding challenges, including incorporating global climate change and environmental impacts into their decision process. Many studies and research initiatives have modeled the impact of pavement condition on vehicle fuel consumption and maintenance costs, indicating that maintaining the pavement network at the lowest roughness level would lower fuel and parts consumption, which is beneficial for the environment. On the other hand, the more intensive pavement maintenance, which is required to keep up roads as smooth as possible, is accompanied with the extensive emissions and negative environmental impact. The objective of this paper is to find an optimal maintenance plan at network level that minimizes environmental impact during the entire pavement life-cycle, which includes both traffic and maintenance works.",
publisher = "CRC Press/Balcema Taylor & Francis Group, London",
journal = "Bituminous Mixtures & Pavements VI, Proceedings of the 6th international conference on bituminous mixtures and pavements, Thessaloniki, Greece, 1012 June 2015,",
title = "Network-level pavement life-cycle assessment tool",
pages = "523-519",
url = "https://hdl.handle.net/21.15107/rcub_grafar_1280"
}

Ćirilović, J., Mladenović, G.,& Queiroz, C.. (2015). Network-level pavement life-cycle assessment tool. in Bituminous Mixtures & Pavements VI, Proceedings of the 6th international conference on bituminous mixtures and pavements, Thessaloniki, Greece, 1012 June 2015,
CRC Press/Balcema Taylor & Francis Group, London., 519-523.
https://hdl.handle.net/21.15107/rcub_grafar_1280

Ćirilović J, Mladenović G, Queiroz C. Network-level pavement life-cycle assessment tool. in Bituminous Mixtures & Pavements VI, Proceedings of the 6th international conference on bituminous mixtures and pavements, Thessaloniki, Greece, 1012 June 2015,. 2015;:519-523.
https://hdl.handle.net/21.15107/rcub_grafar_1280 .

Ćirilović, Jelena, Mladenović, Goran, Queiroz, Cesar, "Network-level pavement life-cycle assessment tool" in Bituminous Mixtures & Pavements VI, Proceedings of the 6th international conference on bituminous mixtures and pavements, Thessaloniki, Greece, 1012 June 2015, (2015):519-523,
https://hdl.handle.net/21.15107/rcub_grafar_1280 .

TY  - CONF
AU  - Ćirilović, Jelena
AU  - Mladenović, Goran
AU  - Queiroz, Cesar
PY  - 2014
UR  - https://grafar.grf.bg.ac.rs/handle/123456789/1140
PB  - Univerzitet Crne Gore, Građevinski fakultet, Podgorica
C3  - Zbornik radova / Peti Internacionalni naučno-stručni skup Građevinarstvo nauka i praksa
T1  - Application of Genetic Algorithms for Pavement Maintenance Optimization
UR  - https://hdl.handle.net/21.15107/rcub_grafar_1140
ER  - 

@conference{
author = "Ćirilović, Jelena and Mladenović, Goran and Queiroz, Cesar",
year = "2014",
publisher = "Univerzitet Crne Gore, Građevinski fakultet, Podgorica",
journal = "Zbornik radova / Peti Internacionalni naučno-stručni skup Građevinarstvo nauka i praksa",
title = "Application of Genetic Algorithms for Pavement Maintenance Optimization",
url = "https://hdl.handle.net/21.15107/rcub_grafar_1140"
}

Ćirilović, J., Mladenović, G.,& Queiroz, C.. (2014). Application of Genetic Algorithms for Pavement Maintenance Optimization. in Zbornik radova / Peti Internacionalni naučno-stručni skup Građevinarstvo nauka i praksa
Univerzitet Crne Gore, Građevinski fakultet, Podgorica..
https://hdl.handle.net/21.15107/rcub_grafar_1140

Ćirilović J, Mladenović G, Queiroz C. Application of Genetic Algorithms for Pavement Maintenance Optimization. in Zbornik radova / Peti Internacionalni naučno-stručni skup Građevinarstvo nauka i praksa. 2014;.
https://hdl.handle.net/21.15107/rcub_grafar_1140 .

Ćirilović, Jelena, Mladenović, Goran, Queiroz, Cesar, "Application of Genetic Algorithms for Pavement Maintenance Optimization" in Zbornik radova / Peti Internacionalni naučno-stručni skup Građevinarstvo nauka i praksa (2014),
https://hdl.handle.net/21.15107/rcub_grafar_1140 .

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  - CONF
AU  - Mladenović, Goran
AU  - Queiroz, Cesar
PY  - 2014
UR  - https://grafar.grf.bg.ac.rs/handle/123456789/570
AB  - Over the last couple of decades there has been an increased contribution of the private sector to finance infrastructure projects. However, in view of the current global financial crisis, it has become more difficult for governments, particularly in transition and developing economies, to attract private financing for infrastructure, which may affect negatively the capacity of many countries to expand, and even keep up their infrastructure. While this is an observed short-term phenomenon, it is still not clear what will be the medium to long term effect of the crisis. It may well be that governments may be willing to increase their financial support to infrastructure projects so as to make them more attractive to potential private investors. This paper focuses on availability payment (AP), which has been increasingly used to undertake critical infrastructure projects in both developing and developed countries. It presents the development of a user-friendly tool for financial assessments of availability payment PPP projects. The model is suitable for preliminary assessment and screening of potential PPP projects. The applicability of the tool is demonstrated through a numerical example of a potential road PPP project. The model can also be applied to any other mode of transport or infrastructure. The model can be used to carry out sensitivity analyses. The user can change the value of an input parameter (e.g., construction cost) and obtain the resulting impact, for example, on the project financial internal rate of return.
PB  - American Society of Civil Engineers (ASCE)
C3  - T and DI Congress 2014: Planes, Trains, and Automobiles - Proceedings of the 2nd Transportation and
T1  - Assessing the financial feasibility of availability payment PPP projects
EP  - 611
SP  - 602
UR  - https://hdl.handle.net/21.15107/rcub_grafar_570
ER  - 

@conference{
author = "Mladenović, Goran and Queiroz, Cesar",
year = "2014",
abstract = "Over the last couple of decades there has been an increased contribution of the private sector to finance infrastructure projects. However, in view of the current global financial crisis, it has become more difficult for governments, particularly in transition and developing economies, to attract private financing for infrastructure, which may affect negatively the capacity of many countries to expand, and even keep up their infrastructure. While this is an observed short-term phenomenon, it is still not clear what will be the medium to long term effect of the crisis. It may well be that governments may be willing to increase their financial support to infrastructure projects so as to make them more attractive to potential private investors. This paper focuses on availability payment (AP), which has been increasingly used to undertake critical infrastructure projects in both developing and developed countries. It presents the development of a user-friendly tool for financial assessments of availability payment PPP projects. The model is suitable for preliminary assessment and screening of potential PPP projects. The applicability of the tool is demonstrated through a numerical example of a potential road PPP project. The model can also be applied to any other mode of transport or infrastructure. The model can be used to carry out sensitivity analyses. The user can change the value of an input parameter (e.g., construction cost) and obtain the resulting impact, for example, on the project financial internal rate of return.",
publisher = "American Society of Civil Engineers (ASCE)",
journal = "T and DI Congress 2014: Planes, Trains, and Automobiles - Proceedings of the 2nd Transportation and",
title = "Assessing the financial feasibility of availability payment PPP projects",
pages = "611-602",
url = "https://hdl.handle.net/21.15107/rcub_grafar_570"
}

Mladenović, G.,& Queiroz, C.. (2014). Assessing the financial feasibility of availability payment PPP projects. in T and DI Congress 2014: Planes, Trains, and Automobiles - Proceedings of the 2nd Transportation and
American Society of Civil Engineers (ASCE)., 602-611.
https://hdl.handle.net/21.15107/rcub_grafar_570

Mladenović G, Queiroz C. Assessing the financial feasibility of availability payment PPP projects. in T and DI Congress 2014: Planes, Trains, and Automobiles - Proceedings of the 2nd Transportation and. 2014;:602-611.
https://hdl.handle.net/21.15107/rcub_grafar_570 .

Mladenović, Goran, Queiroz, Cesar, "Assessing the financial feasibility of availability payment PPP projects" in T and DI Congress 2014: Planes, Trains, and Automobiles - Proceedings of the 2nd Transportation and (2014):602-611,
https://hdl.handle.net/21.15107/rcub_grafar_570 .

TY  - CONF
AU  - Ćirilović, Jelena
AU  - Mladenović, Goran
AU  - Queiroz, Cesar
PY  - 2014
UR  - https://grafar.grf.bg.ac.rs/handle/123456789/1253
AB  - The paper presents an optimal control theory-based procedure for finding the optimal timing and intensity of pavement maintenance treatments, which was adjusted based on the models for pavement deterioration and road user costs from the HDM-4 and RUCKS models. The model for improvement in pavement condition after a maintenance treatment was calibrated according to Patersons bilinear model. The closed-form solution is then compared to the solution obtained by using genetic algorithms (GAs). In both methodologies special attention was given to the quality of the optimal solution in terms of evaluating: (i) the time between the maintenance treatments; (ii) minimal/maximal thicknesses of overlays calculated in the optimal maintenance plan; and (iii) parameters defining pavement condition before and after the maintenance treatment. The comparison between the two methodologies allowed analyzing limitations in each one of them and led to improvements in the optimal solution.
PB  - Institut Francais des Sciences et Technologies des Transports, de l'Aménagement et des Réseaux (IFSTTAR),
C3  - Transport Research Arena (TRA) 2014 Proceedings
T1  - Project Level Pavement Management Optimization Procedure Combining Optimal Control Theory and HDM-4 Models
UR  - https://hdl.handle.net/21.15107/rcub_grafar_1253
ER  - 

@conference{
author = "Ćirilović, Jelena and Mladenović, Goran and Queiroz, Cesar",
year = "2014",
abstract = "The paper presents an optimal control theory-based procedure for finding the optimal timing and intensity of pavement maintenance treatments, which was adjusted based on the models for pavement deterioration and road user costs from the HDM-4 and RUCKS models. The model for improvement in pavement condition after a maintenance treatment was calibrated according to Patersons bilinear model. The closed-form solution is then compared to the solution obtained by using genetic algorithms (GAs). In both methodologies special attention was given to the quality of the optimal solution in terms of evaluating: (i) the time between the maintenance treatments; (ii) minimal/maximal thicknesses of overlays calculated in the optimal maintenance plan; and (iii) parameters defining pavement condition before and after the maintenance treatment. The comparison between the two methodologies allowed analyzing limitations in each one of them and led to improvements in the optimal solution.",
publisher = "Institut Francais des Sciences et Technologies des Transports, de l'Aménagement et des Réseaux (IFSTTAR),",
journal = "Transport Research Arena (TRA) 2014 Proceedings",
title = "Project Level Pavement Management Optimization Procedure Combining Optimal Control Theory and HDM-4 Models",
url = "https://hdl.handle.net/21.15107/rcub_grafar_1253"
}

Ćirilović, J., Mladenović, G.,& Queiroz, C.. (2014). Project Level Pavement Management Optimization Procedure Combining Optimal Control Theory and HDM-4 Models. 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_1253

Ćirilović J, Mladenović G, Queiroz C. Project Level Pavement Management Optimization Procedure Combining Optimal Control Theory and HDM-4 Models. in Transport Research Arena (TRA) 2014 Proceedings. 2014;.
https://hdl.handle.net/21.15107/rcub_grafar_1253 .

Ćirilović, Jelena, Mladenović, Goran, Queiroz, Cesar, "Project Level Pavement Management Optimization Procedure Combining Optimal Control Theory and HDM-4 Models" in Transport Research Arena (TRA) 2014 Proceedings (2014),
https://hdl.handle.net/21.15107/rcub_grafar_1253 .

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  - 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 .