Road infrastructure is one of the most valuable assets of a society and a good indicator of development of national economy. Over the past two decades, worldwide investments in the maintenance, reconstruction and modernization of roads have been significantly higher than the investments made in the construction of new roads. The management of the road network
presents the process of decision making in investments, where it is very important to solve numerous technical and economic problems and provide as much objective technical and economic information as possible for final decision making. Planning the maintenance of the road network is one of the basic tasks for each road network manager .
A properly updated road information system, as well as an adequate decision model, should be established and put in operation so as to enable an effective management of road maintenance activities . The HDM-4 model (Highway Development and Management Model) for the analysis of investments in the development and management of roads is a complex software tool for the technical and economic evaluation of road projects, and for analyzing investments in the existing road network. The model is widely accepted by the International Financial Institutions (IFIs).The HDM-4 model can be used to: conduct strategic analyses at the level of the road network (or part of the road network), program road maintenance and improvement activities on the road network, and make analyses at the project level. The strategic and programme analyses of the road network are carried out on the basis of adequate and updated road network information base (RDB - Road Data Base), while the project-level analysis requires preparation of appropriate design and technical documentation (Final/Detailed Design). After the conduct of strategic and/or programme analyses of the road network, appropriate design and technical documentation should be prepared for selected priority sections, in accordance with the legal procedure .
Road Rehabilitation and Safety Project (RRSP) is a project of support of international financing institutions (World Bank, European Investment Bank and European Bank for Reconstruction and Development) to the Government of the Republic of Serbia in implementation of the National State Road Network Rehabilitation Program. The section of the state road IB21, Irig–Ruma, in the total length of 15,580 km is part of the RRSP project and is planned for realization in 2018.
This paper presents a methodological procedure for the preparation of economic analysis and assessment of investments for the periodic maintenance of roads with example of the state road IB 21, section Irig–Ruma.