NineSquared and the ESA bring together three sectors to discuss Cost-Benefit Analysis
NineSquared was excited to work with the Economic Society of Australia to facilitate a discussion between the consulting world, academia and the public sector on the use of cost benefit analysis (CBA) in the evaluation of major projects. The discussion included panel members from all three sectors including Tom Frost, NineSquared, Associate Professor Richard Brown from the University of Queensland, Professor Christine Smith from Griffith University and Dr Kaanan Ajunan from the Department of State Development, Infrastructure and Planning.
The panel outlined a range of issues and responded to a broad range of questions from the attendees before focussing on some next steps including looking at how to open better communication channels between the three sectors and how to improve access to existing research, particularly on valuation of CBA inputs.
NineSquared has undertaken the cost benefit analysis for some of the largest transport projects in Queensland including the recent Cross River Rail project. Our sponsorship of the Economic Society Event reflects our view, based on our experience from Cross River Rail and other projects, that are significant benefits from bringing the three sectors together to discuss the appropriate role of economic analytic techniques like cost benefit analysis in the decision making process.
We look forward to continuing the conversation.