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PIARC (World Road Association), founded in 1909 and comprising 125 member governments from all over the world, is the global forum for exchange of knowledge and experience on roads, road transport policies and practices. With consultative status to the Economic and Social Council of the United Nations, the Association is contributing to a stable and sustainable global development of the road and transport sector.

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Term of the Road Dictionary

benefit

Language : PIARC Road Dictionary / English
Theme : Financial and Legal Tools Finance and Procurement Economics and Finance
Definition : Gain, or positive utility, arising from an action. Notes: 1. It implies comparison between two situations and applies to a specific individual or decision-maker. 2. To quantify a benefit is to represent it in numerical terms. For example time saved could be quantified by the number of hours (without any distinction concerning the beneficiaries, the trip purpose, the duration of each individual gain, etc.). 3. To value a benefit is to attach a monetary value to it.

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