The paper "Renewal of Northbourne Avenue" is an amazing example of a Business assignment. The renewal of Northbourne Avenue started by Chief Minister Andrew Barr stating that this work needs to begin very soon. This renewal is estimated that will pass the Australian University campus and this is the area where Dickson as well as taking in the entire Haig Park. Mr. Barr stressed when he tabled legislation to set up two new agencies on Thursday that Haig Park would not have residential development, units or houses, in the park. He made no comment about the rationale behind the boundaries of the rest of the precinct (Ray 2016). 2.0 Project description The proposed Renewal of the Northbourne Avenue Corridor is one of the national proposed roads with great significance and value. This project will approach route into Canberra and will have the ability to improve the transport along the corridor between the CBD and the Gungahlin which is one of the Canberra’ s most Greenfield areas of development.
This road is approximately 13 kilometers long. This road is part of the government to help in the reduction in the congestion of the transport sector by transforming the sector to be efficient and effective.
This project aims and objectives of the Australia transport and development programs. Cost-benefit analysis is decisions that are based on the available project options and they help in producing a clear understanding of the economic cost and benefits in a given project. It further analyses the benefits of the project to society and gives room to compare the benefits of one project to another. The figure below shows the general framework for cost-benefit analysis. In estimating the net and gross benefit approach to project valuations to the Renewal of the Northbourne Avenue Corridor.
The pros and cons of this project will be investigated to help understand the need for this project. The gross project evaluation involves: - Total additional economic costs that the roads, airports, railway line, and users of these services would get under every alternative option. This implies the real value of the national resource that would be received under each alternative option (Boadway, 2016).
ACT Land Development. Northbourne Overview. Retrieved 12 March 2017. from http://www.lda.act.gov.au/urbanrenewal/sites/northbourne-overview
Andrew Barr. Urban renewal in CBR. Retrieved 16 March 2017. from http://www.andrewbarr.com.au/urban_renewal_in_cbr
Andrew Barr.(2016, February 24).Renewal of Northbourne Avenue begins. Retrieved 16 March 2017, from http://www.cmd.act.gov.au/open_government/inform/act_government_media_releases/barr/2016/renewal-of-northbourne-avenue-begins
Boadway, R. (2016). Cost-benefit analysis. In The Oxford Handbook of Well-Being and Public Policy (p. 1569). Oxford University Press.
D.C.Haas.(2016, August 29), Northbourne Avenue trees and light rail-facts not fiction. Retrieved 16 March 2017. from http://www.actlightrail.info/2016/08/northbourne-avenue-trees-and-light-rail.html
David Ellery.(2016, January 18). Northbourne Avenue redevelopment plan released for comment. Retrieved 12 March 2017. from http://www.canberratimes.com.au/act-news/northbourne-avenue-redevelopment-plan-released-for-comment-20160115-gm6yek.html
Ray Sparvell.(2016,Novenber 25),Northbourne Avenue transformation continue with new land for sale at lyneham. Retrieved 16 March 2017. from http://www.allhomes.com.au/news/northbourne-avenue-transformation-continues-with-new-land-for-sale-at-lyneham-20161124-gswcqq/
Reniers, G. L., & Van Erp, H. R. (2016). Cost‐Benefit Analysis. Operational Safety Economics: A practical approach focused on the chemical and process industries, 149-218.