Developing and emerging economies continue to grapple with planning infrastructure to deliver basic human needs, including water, sanitation, and electricity. Underlying these issues is the challenge of building infrastructure that is based on smarter decisions, better design and construction, innovative financing, and positioning the private sector as part of the solution. Given limits on available resources to finance infrastructure investments in many developing countries, it is important the available resources get utilized taking into account the greatest value for money. This will ensure that such investments incorporate smart planning and performance characteristics.
Quality infrastructure takes into account not only the cost of construction and includes the longevity of the assets constructed and the cost to operate and maintain them over the full-lifecycle of the investment. This approach provides an opportunity to ensure that developing countries get the best overall value for the resources invested. Moreover, given the increasing climate change challenges and risks currently faced, it is also important to maximize and take into account the green and resilient aspects of infrastructure, using the latest advanced technologies that emit the least GHG emissions.
The objective of the commissioned paper will be to carve out the general advantages of incorporating quality dimensions of infrastructure into development projects. The paper will also explain the advantages of mainstreaming value engineering and life cycle costing in capital investments on a routine basis, and identify the analytical tools required for the Bank to start implementing such an approach. The research will also identify, based on empirical Japanese and other international experiences further research that could be deepened as a part deepening the definition and analysis of quality infrastructure in development projects.
The paper should also discuss practical ways of mainstreaming the concept of value engineering and suggest how to mainstream the decision making process in projects’ preparation and supervision of the World Bank’s infrastructure contracts.
This Background Report will serve as one of the important research initiatives and be presented in the Annual International Conference on Sustainable Development through Quality Infrastructure Investment, to be held in February 2017 in Tokyo.
For details, please see Terms of Reference
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Senior Operations Officer