INTRODUCTION
Across the world, poor and inefficient infrastructure poses a major socio-economic challenge that government and businesses need to address. It is imperative to note that without efficient and robust infrastructure services, infrastructure economies cannot meet their full growth potential and thus economic and human development will suffer.
This infrastructure gap and the concerns on how to find the money to fill it are the fulcrums of current debate. But this particular ideology overshadows the idea of an equally compelling imperative-to improve the planning, delivery and operation of infrastructure to get more, higher quality capacity for less money and to boost infrastructure productivity.
This project addresses the question of the size of infrastructure gap. Here we first analyses the causes of infrastructure inefficiency, It then discusses in detail the three main ways to achieve an improvement in infrastructure productivity delivering savings by: selecting projects carefully, delivering them with efficiency and enabling existing assets in alternative to coming up with new ones and then finally suggesting the ways to overhaul the infrastructure system.
I. CAUSES OF INFRASTRUCTURAL EFFICIENCY
The productivity of infrastructure projects has been low and stagnant for many reasons. Major factor in many countries is the weakness of the infrastructure planning, delivery, and management system.
Some of the many reasons for the limited productivity in infrastructure are:
1. Bias in planning and forecasting:
Many projects are undertaken by inefficient cost-benefit analyses presented to investors and legislatures. In spite of the advancement in technology and science, such analysis is compromised pointing towards a...
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...unethical practices
• USING EXISTING INFRASTRUCTURE ASSETS:
The key objective of asset management lies in the analysis of the total cost of ownership (TCO) approach that considers the full lifetime cost and finds the optimal balance between long-term renewal and short-term maintenance.
1. Optimize maintenance by regularly assessing the condition of infrastructure
2. Make provision of funds allocation specially for maintenance
III. SUMMARY: OVERHAULING THE INFRASTRUCTURE SYSTEM
Following can radically improve the current state of infrastructure facility:
1. Establish a strong sync between different infrastructure institutions
2. Outline clear boundaries of political and technical tasks, by may be establishing independent private sector audit firms.
3. Ensure to maintain a transparency and informed operator services.
4. Robust information based decision making
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