Value for money by region
This map shows the investment of major projects by region.
Total investment in a region varies by:
- the amount of Strategic Road Network (SRN) in that region
- the age and condition of the assets
- the challenges faced on those roads, like congestion or safety concerns.
The values presented are Present Value Costs (PVC), meaning costs are presented in 2010 prices, discounted to 2010. This allows costs to be comparable:
- between schemes
- with other monetary values presented in appraisals and evaluations
Summary
Overall, our spend forecasts were accurate – forecast and outturn spend on major enhancements were very similar nationally.
The picture is more nuanced at a regional level. The East Midlands, East and South East regions spent less than forecast, while other regions spent more.
Value for Money (VfM) compares the benefits delivered by the scheme with its costs. A key metric is the Benefit to Cost Ratio which is adjusted to consider non-monetised benefits.
Schemes are given a VfM category. A higher VfM category indicates better outcomes for investment than lower ones.
The outturn VfM category was high nationally and in every region, apart from the West Midlands (medium). However, outturn VfM was lower than forecast.
Our VfM methodology is conservative to avoid claiming impacts without evidence. We're improving our methods to capture more benefits at evaluation. Therefore, the true VfM may be higher than reflected in the dashboard.
