"Effective scheme prioritisation is a challenging process for local authorities and there is little specific guidance on how they should prioritise smaller integrated transport schemes (typically less than £250,000), which collectively make up a significant proportion of LTP expenditure. So this Advice focuses on the prioritisation of expenditure on capital-based LTP Integrated Transport schemes. Expenditure on revenue measures and maintenance is considered within the context of an overall integrated transport prioritisation process." (link below.)
http://www.dft.gov.uk/pgr/regional/ltp/guidance/prioritisation/