Institute for Transport Studies (ITS)

Transport Investment Appraisal

Course Date: 1st to 3rd April 2019

Course Fee: £700

This 3-day course equips participants with skills to undertake transport investment appraisal. Starting from the principles of cost-benefit analysis and financial appraisal, the course covers the key methods and techniques, and includes worked examples and case studies from road and rail, as well as multi-modal packages. Recent technical developments and appraisal issues are also covered.

The course is suitable for those who are new to the field and for more experienced professionals seeking to refresh their knowledge.

Outline programme

  • Principles of project appraisal; financial appraisal and cost-benefit analysis
  • Capital budgeting. Acceptance tests, choice between alternatives, capital rationing, deferment, examples
  • Financing transport projects; the effects of alternative financing media in appraisal; purchase and lease finance
  • Valuation of costs and benefits (1); willingness to pay methods (RP & SP); valuation of travel time benefits
  • Valuation of costs and benefits (2); applications to safety and environmental impacts
  • Allowing for risk and uncertainty in transport appraisal
  • Frameworks; multi-criteria analysis; the Transport Business Case; WebTAG; and applications
  • Road project appraisal case study
  • Public transport project appraisal; commercial rail projects
  • Public transport projects; social appraisal and the DfT guidelines
  • Development and regeneration benefits

The course benefits from the considerable expertise of research-active staff and draws upon ITS’ experience of advising the Department for Transport (DfT) and other prominent organisations. For further information about the course content or its relevance to your work please contact the course leader - John Nellthorp, tel: +44 (0) 113 343 6613, email: j.nellthorp(at)

Further information & how to book

The course will be held in ITS training facilities at the University of Leeds, Leeds LS2 9JT, and is open to ITS Masters students and external delegates. The fee includes learning materials, lunch and refreshments during the course, but not overnight accommodation. The course is also available as bespoke or in-company training. Course bookings and other enquiries can be made via:


Short Courses Co-ordinator:
Tel: +44 (0)113 343 9904
Email: cpd(at)

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