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Monetised benefits and costs manual

Published: | Category: Benefits & economic evaluation , Manuals | Audience: Local & regional government

The NZ Transport Agency Waka Kotahi (NZTA) Monetised benefits and costs manual (MBCM) is the industry's standard for the economic evaluation of land transport activities in New Zealand. The MBCM sets out economic evaluation procedures and values used in calculating benefit–cost ratios, necessary for applications seeking investment where a cost–benefit appraisal is a mandatory Waka Kotahi requirement.

The MBCM replaced the Economic evaluation manual from 31 August 2020.

Version 1.7.1 of the MBCM applies to business cases that commence on or after 19 July 2024. Please note that the only changes between Version 1.7 and Version 1.7.1 of the MBCM are the worked examples for crash analysis in Appendix 8. These changes in Version 1.7.1 are to align the crash analysis worked examples with the updated Crash estimation compendium: New Zealand crash risk factors guidelines, second edition (July 2024).

The 2023 update factors are effective from 1 July 2023. 

The MBCM should be read in conjunction with:

  • the 'Benefits management guidance' section of our website, which provides an introduction to the Land Transport Benefits Framework, how to use it in planning and business cases, and benefits management in the National Land Transport Programme
    Benefits management guidance
  • the Land Transport Benefits Framework measures manual (previously called the Non-monetised benefits manual), the industry's standard for the quantitative and qualitative benefits of New Zealand land transport activities.
    Land Transport Benefits Framework measures manual

For further guidance on how to apply the MBCM or to register for updates related to the MBCM contact

Publication details

  • Author:
  • Published: July 2024
  • Version: 1.7.1
  • ISBN/ISSN: 978-1-98-856173-8 (online)
  • Contact:

Current releases

Date issued Title Current version
July 2024

Monetised benefits and costs manual [PDF, 10 MB]

May 2024

Update factors (2023) [PDF, 167 KB]

General circular (24/02) [PDF, 129 KB]

Apr 2023 Monetised benefits and costs manual – technical notes  
July 2024 Crash estimation compendium: New Zealand crash risk factors guidelines, second edition Second edition

Evaluation procedures

Date issued Title
14 Apr 2023 SP1 Road renewals [XLSX, 228 KB]
22 Mar 2024

SP2 Bridge renewals [XLSX, 1.2 MB]

May 2024 SP3 Road improvements [XLSX, 457 KB]
May 2024 SP4 Seal extensions [XLSX, 369 KB]
May 2024 SP5 Intersections [XLSX, 340 KB]
May 2024 SP6 High productivity motor vehicles [XLSX, 228 KB]
14 Apr 2023 SP8 Freight services [XLSX, 284 KB]
14 Apr 2023 SP9 Public transport new services [XLSX, 216 KB]
14 Apr 2023 SP10 Public transport existing services [XLSX, 199 KB]
May 2024

SP11 Walking and cycling [XLSX, 6 MB]

14 Apr 2023 SP12 Travel behaviour [XLSX, 236 KB]
14 Apr 2023 SP13 Safety promotion [XLSX, 212 KB]
19 Jul 2021 Transport modelling checks worksheet [XLSX, 387 KB]
May 2024 Crash cost savings worksheet [XLSX, 366 KB]
1 Aug 2021

Appraisal summary table


Monetised benefits and costs manual introductory workshop, 2023

We held online workshops in October and December 2023 introducing the MBCM to new users. View the slides and video recording below. 

Monetised benefits and costs manual introductory workshop slides, 2023 [PPTX, 21 MB]

Video of the MBCM introductory workshop 2023

Introducing the changes in version 1.6 of the MBCM, May 2023

In May 2023 we held a workshop to communicate the changes in the updated version of the MBCM, published in April 2023.

MBCM presentation slides May 2023 [PDF, 3.2 MB]

Video of MBCM webinar May 2023

Past update factors and general circulars

Date issued Title
14 Apr 2023

Update factors (2022) [PDF, 71 KB]

General circular (23/02) [PDF, 211 KB]