Developing Harmonised European Approaches for Transport Costing and Project Assessment (HEATCO. Deliverable 4: State-of-the-art in project assessment + annexes.

HEATCO's primary objective is the development of harmonised guidelines for project assessment at the EU level. This includes the provision of a consistent framework for monetary valuation based on the principles of welfare economics, contributing in the long run to consistency with transport costing. In a first step the current project assessment practice in the EU member states (plus Switzerland) has been reviewed and analysed. The detailed results have been documented in Deliverable 1. Starting from this review, Deliverable 2 seeks to compare current practice with theoretical and empirical evidence from the literature, preparing the recommendations for harmonised guidelines, which will be subject of Deliverable 5. (Author/publisher)