Cost-Benefit Analysis of Road Safety Measure in Greece



Executive Summary

The purpose of this research is to explore take-profit evaluation methods for road safety techniques, which includes different technical issues, information accessibility and the quality of data, through three careful investigations-in Greece. The main part of the research concerns a survey of the accessible techniques for figuring the effectiveness of road safety techniques, regarding well-being effect (accidents reduction) and in addition other identified impacts (environmental, traffic etc.). Moreover, an elaborated description of calculated method of the different segments of human mishap costs in Greece is introduced. Another part of the paper deals with the effects of cost-benefit analysis in three research studies in Greece; one on the execution of activity quieting measures at metropolitan level, one on the updating of given sections of the National Road Network into motorways, and one on the across the country strengthening of pace and alcohol requirement. Finally, the conclusion concern both the effectiveness of the measures and the evaluation technique. Moreover, the primary challenges experienced in the above careful investigations and the options for managing them are being discussed.Introduction

The allocated budgets for road safety arrangements are not at all infinite, in this manner government officials need to choose about the best possible utilization of these allocated budgets. The criteria utilized, while selecting the budgets and policies, are mostly suitable, legitimate or lawful. Therefore, in the later years, proficiency is regularly specified as a measure for a great arrangement. The effectiveness of a planned policy is resolved by the utilization of productivity appraisal instruments (EATs), which empower choice settling on and decision of the policy with the most elevated return in financial terms. Cost Benefit Analyses (CBAs) and Cost Effectiveness Analyses (CEAs) are the extensively used effectiveness evaluation tools. CBA mainly researches the social yield of a policy or a measure, while CEA is utilized for fractional effectiveness inquiries and examines the casualties saved. In this study the Cost Benefit Analysis (CBA) will be accomplished to evaluate Cost Effectiveness of road safety measures. Generally, CBA offers a coherent framework for assessing elective strategies when various variables are profoundly assumed in nature. Basically, it considers every last one of the elements which impact either the profits or the expense of a project, regardless of the fact that financial worth can't be effortlessly allocated. Then again, it ought to be noted that there are sure restraints observing the utilization of productivity appraisal instruments in road safety policy. The above mentioned boundaries are primarily divided into three diverse categories: fundamental (denying standards of welfare economics, denying power as the most important standard for necessity setting, and so forth.), institutional (absence of agreement on applicable policy objectives, expenses of CBA, etc.) and specialized barriers (absence of information of appropriate impacts, inadequate financial valuation of important effects, etc.).

The primary objective of this paper is to research some issues identified with cost benefit analysis technique for road safety measures, which includes methodological issues, information accessibility and information quality, through three research endeavors in ...