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Demand management is a key component of the 'new realism' in transport, but relatively little attention has been paid to the evaluation of its effectiveness. In part this is due to a lack of (i) demonstrated cause/effect relationships (that is, level of impact on travel behaviour) and (ii) evidence on the durability of those impacts. There is also, perhaps, a wariness of entering into an area dominated by paradigms that often equate 'more' with 'better' in evaluation of transport projects. This paper takes the demonstrated results of a pilot project in South Perth, Western Australia, and applies socioeconomic evaluation principles to derive robust evaluation results that demonstrate the value of demand management. It does so in terms that are similar to those used for investment in roads and demonstrates socioeconomic returns that greatly exceed those from the majority of road-building projects. In the process, some interesting insights are gained into the valuation of travel time, congestion and health/fitness benefits. Sensitivity analysis is used to demonstrate that even on 'worst case' (low benefit/high cost) scenarios, the benefits exceed the costs by a factor of three. Under the 'best case' (high benefit/low cost) scenario, the return is an order of magnitude higher. (a) For the covering entry of this conference, please see ITRD E200461.
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