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Monetised benefits and costs manual

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

Waka Kotahi NZ Transport Agency's 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 1.6 of the MBCM applies to business cases that commence on or after 14 April 2023. The simplified procedures have also been updated to reflect version 1.6 of the MBCM. Version 1.6.1 (Jun 2023) contains minor amendments for clarity and consistency.

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: 14 April 2023
  • Version: 1.6
  • ISBN/ISSN: 978-1-98-856173-8 (online)
  • Contact:
  • Amendments: Manual updated April 2023

Current releases

Date issued Title Current version
30 Jun 2023

Monetised benefits and costs manual [PDF, 10 MB]

14 Apr 2023

Update factors (2022) [PDF, 71 KB]

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

Apr 2023 Monetised benefits and costs manual – technical notes  
1 Jul 2018 Crash risk factors guidelines (compendium), amendment 1 [PDF, 1.1 MB]  

Evaluation procedures

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

SP2 Bridge renewals [XLSX, 1.2 MB]

(This version includes an updated decision tree)

14 Apr 2023 SP3 Road improvements [XLSX, 456 KB]
14 Apr 2023 SP4 Seal extensions [XLSX, 366 KB]
14 Apr 2023 SP5 Intersections [XLSX, 338 KB]
14 Apr 2023 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]
11 Mar 2024

SP11 Walking and cycling [XLSX, 6 MB]

(This version fixes some minor errors in previous versions)

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]
13 Jan 2022 Crash cost savings worksheet [XLSX, 363 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
18 Feb 2021

Update factors (2020) [PDF, 151 KB]

General circular 21/01 [PDF, 121 KB]

15 Dec 2021

Update factors (2021) [PDF, 147 KB]

General circular 21/05 [PDF, 167 KB]

1 Aug 2021 General circular 21/04 [PDF, 97 KB]