Improvement of economic effectiveness of road highway projects

With regards to the strategic role of transport in a country's economic development and the large investments that are required, a thorough economic appraisal of these investments is of high importance. Therefore, it is appropriate to analyze and possibly modify existing methods for evaluating the economic efficiency of road construction at the scientific level, with the support of the real practice experience. Our research concentrates on evaluation of current methods of economic appraisal, their consecutive improvement and on incorporation of the LCCA agenda into the investment decision process. Consequently, it focuses on the possibilities to improve the effectivity of both, an investment decision process and a realization phase through the proposal of very concrete measures based on results of our research and on experience of real practice construction. (C) 2016 The Authors. Published by Elsevier Ltd.