Answer:
A framework for making better infrastructure decisions
Our framework includes four key best practices to help modernize decision making for infrastructure and to improve its social and economic impact. Each step is enabled by and contributes to a consistent, fact-based process for identifying and executing infrastructure projects. The first step—ensuring that projects yield measurable benefits—lays the foundation for all the rest.
Step-by-step explanation:
Develop projects with tangible, quantifiable benefits
Political considerations often guide governments when they select infrastructure projects. For example, a national government may prioritize capital investment in a new port because it would provide a convenient transshipment point for trade with a politically aligned country, even if the project has a weak economic rationale. Or a government may invest in a new road project to address congestion in a district that’s important in elections. However, in the current environment—where countries, states, and cities must compete for trade, corporate headquarters, jobs, and talent—government and citizens must ensure that investments generate clear economic and public benefits and build a competitive advantage.
To achieve this goal, governments should base the selection of projects on reliable data and analytics, robust financial models, and designs that meet the needs of citizens. They should consider both the direct impact of an infrastructure project and the indirect effects on the rest of the economy and society. Such effects include the following: