Valuation of the benefits of infrastructure projects(built Essay

Valuation of the benefits of infrastructure projects(built environment) may sometimes be difficult but it is essential for the rational determination of sector - Essay Example The public services are not able to mobilize resources to meet the increasing demand in these areas, mainly due to bureaucratic interventions, organizational lapses and political lethargy. Therefore, it has become necessary for the private sectors to involve themselves prominently in this strategic area of human living. The fact remains that the implementation and execution of infrastructure developmental projects have remained uppermost in the hands of their planners and executors, but they have not considered its implications nor pondered over the necessary ways in which these projects could provide long time succor and increased standard of living for the masses effected by these projects or the ultimate beneficiaries of these efforts. Hence these projects have been carried out in an ad hoc manner, which is why it has become imperative to upgrade and enhance the quality of service to bring it at par with acceptable standards. The emphasis should be on providing infrastructure proj ects with a national or regional development policy or strategy and also to link the resources decision with local social, economic and environmental requirements. This way, not only the broader objectives of the project would be met but its utility value, in the grassroots level would also stand ensured. This is because all important infra structural projects should have social upliftment and emancipation of the underprivileged and marginalized sections of society in mind when they are conceptualized and also when they are finally implemented. The economic evaluation of development projects should be such that it renders maximum benefit to social welfare. Although the objectives may be clearly delineated, the derivation of net benefits or its quantitative benefit value may not be assessable in real money terms. To take an illustration, the Government wished to seek the