Exercising greater care in estimating traffic demand projections is of utmost importance. Overly optimistic forecasts of traffic volumes can stem from using outdated or arbitrary parameters and unrealistic assumptions. For instance, elasticity values of road transport demand may have changed over time. Also, the use of national GDP as a proxy for economic activities at the regional or local level could result in unrealistic traffic forecasts. Both of these could lead to an overly designed project. Accurate traffic forecast and reliable growth estimates contributes to establishing a good framework for road engineering design, including more reliable cost estimates. All these require critical assessment of traffic demand projection, especially during project appraisal phase.
Road Network Development Program (Multitranche Financing Facility and Tranche 4)