Benefit Cost Analysis Of Transportation Research Projects
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Development Of Benefit Cost Analysis Tools For Evaluating Transportation Research Projects
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Author : Nikolai Auburn Greer
language : en
Publisher:
Release Date : 2018
Development Of Benefit Cost Analysis Tools For Evaluating Transportation Research Projects written by Nikolai Auburn Greer and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018 with Interstate 80 categories.
Transportation research projects are vital to transportation agencies for the accumulation of new technology and knowledge for the improvement of efficiency and safety of transportation infrastructure. The purpose of this thesis was to demonstrate an evaluation of a state DOT research program and to develop benefit cost analysis tools to assist transportation agencies in evaluating transportation research projects. The evaluation presented in this thesis was a performance evaluation of the Wyoming Department of Transportation Research Center. The evaluation identified a total of 64 research projects were submitted to the WYDOT Research Center between 2011 and 2016. The evaluation accessed the performance of the WYDOT Research Center by evaluating performance measures and feedback received from feedback surveys. The results of the performance measures were compared to a previous evaluation for a time period between 2005 to 2010. This indicated that the number of projects reports completed each year increased from three reports per year to five in the 2011 to 2016 time period. The number of projects that were not completed on-time and within budget decreased by half from seven in the 2005 to 2010 time period to three in the 2011 to 2016 time period. The evaluation also indicated that the annual research budget for the WYDOT Research Center increased by nine percent in the 2011 to 2016 time period. The evaluation of the WYDOT research Center indicated that the performance of the research program has had significant improvements and the performance of the WYDOT Research Center should be continued to be evaluated. Benefit cost analysis (BCA) tools were also developed in this thesis to assist state DOTs in evaluating transportation research projects. The BCA tools were developed using Microsoft Excel to provide a process for evaluating research project after the first year of implementation. The tools consider that the cost associated with a transportation research project is a combination of costs incurred during research and implementation. The tools provide analysis methods for estimating the benefits of changes in the level of service of a roadway, reductions in the vehicle travel time, changes in vehicle operating cost and reductions in the number of crashes on a roadway. The process for estimating the benefits for changes in the vehicle travel time uses the Akçelik travel time model to estimate the travel time on a roadway and FHWA values of travel time. The procedures for estimating the benefits of changes in the level of service uses the 2010 Highway Capacity Manual (HCM) to estimate the level of service for a roadway and uses criteria developed to indicates the savings of changes in the level of service. The benefits of changes in the vehicle operating costs uses the Highway Economic Requirements System vehicle operating cost model to estimate the vehicle operating cost. The benefit estimation procedures evaluate the differences between a situation without and with implementation of a research project to indicate the saving due to the implementation of the project. The process for estimating the benefits of crash reductions uses Highway Safety Manual (HSM) safety performance functions (SPF) to predict the number of crashes on freeway segments, multilane highways, or two-lane two-way highways. Crash modification factors are applied to the SPFs to indicate a change in the number of crashes and FHWA crash costs are used to indicate the monetary benefits of crash reductions. The BCA tools use CPI from the U.S. Bureau of Labor Statistics to adjust for inflation by adjusting the dollar value of costs and benefits to a common year of reference. The BCA tools also have multiple limitations in their use. The limitations of the tools include a limited number of benefits that can be quantified using the tools which limits the research projects that can be evaluated using the tools and the SPF in the crash reduction benefit estimation procedures are not representative of actual road conditions. The developed BCA tools were designed to assists in making key decision during the proposal and implementation phase of a transportation research project. The BCA tools were used to evaluate five case studies to illustrate the use of the developed tools. Each case study demonstrated varying situation where the BCA tools were used to evaluate the economic outcome of a transportation research project. The first case study evaluated an implemented research project that investigated the effectiveness of variable speed limit systems implemented along I-80 in Wyoming. The BCA ratio for the case study was 6.64 indicating that the project was economically justifiable. The second case study evaluated a research proposal that investigated the impacts of truck traffic on I-80 in Wyoming. This resulted in a BCA ratio of a 9.23 indicating truck traffic mitigation strategies on I-80 are potentially economically beneficial. The third case study evaluated an additional implemented research project that investigated wildlife overpasses and underpasses implemented on US 191 in Wyoming. This resulted in a BCA ratio of 0.46 indicating that the implementation of wildlife overpasses and underpasses was not economically beneficial after the first year of implementation. The fourth case study evaluated a recently completed transportation research project without utilizing the developed benefit estimation procedures. The case study investigated the feasibility of implementing last mile package delivery in Wyoming public transportation systems. Resulting in a BCA ratio of a 2.57 indicating that the implementation of last mile package delivery for revenue generation is potentially economically beneficial. The final case study evaluated an implemented transportation research project where research costs are unknown. The case study evaluated the use of differential truck speed limits and uniform speed limits on two-lane highways in Montana. The BCA ratio for the case study was 17.5 indicating that the implementation of a uniform speed limit on two-lane highways in Montana is economically beneficial. The case studies indicated that the developed BCA tools are a beneficial tool for quantifying the benefits of transportation research projects.
Benefit Cost Analysis Framework For Evaluating Inter City Transit Investment
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Author :
language : en
Publisher:
Release Date : 2008
Benefit Cost Analysis Framework For Evaluating Inter City Transit Investment written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008 with Rural transit categories.
Benefit Cost Analysis Of Transportation Research Projects
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Author : Amir Tavakoli
language : en
Publisher:
Release Date : 1992
Benefit Cost Analysis Of Transportation Research Projects written by Amir Tavakoli and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1992 with Highway departments categories.
Benefit Cost Analysis
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Author : A. Allan Schmid
language : en
Publisher: Routledge
Release Date : 2019-03-01
Benefit Cost Analysis written by A. Allan Schmid and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-03-01 with Political Science categories.
Choice is the name of the game. Government sets the size of the public budget and decides which public projects it will invest in and which transfers and regulations it will implement. To do this systematically the government must have a procedure that displays the consequences of the alternatives. This book is an exposition of benefit-cost analysis (BCA), an analytic framework for organizing thoughts, listing the pros and cons of alternatives, and determining values for all relevant factors so that the alternatives can be ranked. A major question illuminated by this text is whether the results of such an analysis can instruct government--in the sense of telling it what it must do to avoid being labelled stupid, corrupt, irrational, and/or inefficient. How and when, we will ask, can the benefit-cost analyst label a particular governmental investment, policy, or regulation as political (in the pejorative sense) as opposed to economic (in the laudatory sense of being economically justified)? This book will argue that BCA is much like a consumer information system. Consumer information neither tells consumers what to do nor tells them what they should want. However, it does tell them which products will perform in selected ways and at what costs. And this information, together with the independently arrived at wants, helps the consumer make intelligent choices.
Engineering Economic Analysis Practices For Highway Investment
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Author : Michael J. Markow
language : en
Publisher: Transportation Research Board
Release Date : 2012
Engineering Economic Analysis Practices For Highway Investment written by Michael J. Markow and has been published by Transportation Research Board this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012 with Technology & Engineering categories.
TRB’s National Cooperative Highway Research Program (NCHRP) Synthesis 424: Engineering Economic Analysis Practices for Highway Investment explores how U.S. transportation agencies have applied engineering economics--benefit–cost analyses and similar procedures--to decisions on highway investments.
Notes On The State Of The Art Of Benefit Cost Analysis As Related To Transportation Systems
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Author : Joseph D. Crumlish
language : en
Publisher:
Release Date : 1966
Notes On The State Of The Art Of Benefit Cost Analysis As Related To Transportation Systems written by Joseph D. Crumlish and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1966 with Cost effectiveness categories.
This review of benefit-cost analysis as a tool for evaluating alternative courses of action describes the technique, discusses a number of benefit-cost studies, and indicates the difficulties inherent in this area of applied economics. * The author concentrates on the application of the technique to large scale transport problems, reviews the literature and indicates in his conclusions where the technique can be helpful and where there is little chance for its success.
Using Public Transportation To Reduce The Economic Social And Human Costs Of Personal Immobility
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Author : Ricardo Byrd
language : en
Publisher: Transportation Research Board
Release Date : 1999
Using Public Transportation To Reduce The Economic Social And Human Costs Of Personal Immobility written by Ricardo Byrd and has been published by Transportation Research Board this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999 with Transportation categories.
This report provides a method to define and measure the costs of personal immobility at a local level and contains a compendium of public transportation practices that address immobility, help reduce costs, and possibly provide economic benefits to both the riders and the larger community. The focus is on practices that assist people who need transportation to health care or who are transitioning from welfare to work. This report should be of interest to planners, decision makers, and social service and transportation providers. It should also serve as a resource to assist decision makers and transportation service providers in using their services more effectively to address the issue of personal immobility.
Effective Practices For Preparing Airport Improvement Program Benefit Cost Analysis
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Author : Steven Richard Landau
language : en
Publisher: Transportation Research Board
Release Date : 2009
Effective Practices For Preparing Airport Improvement Program Benefit Cost Analysis written by Steven Richard Landau and has been published by Transportation Research Board this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009 with Airports categories.
Benefit-Cost Analysis (BCA) aids in making capital investment decisions by determining whether the benefits of a proposed action justify its costs. This synthesis, Effective Practices for Preparing Airport Improvement Program Benefit-Cost Analysis, defines and describes benefit assessment techniques used by airports as well as other modes, highlights best practices, and identifies inconsistencies of how benefits are calculated and where there is confusion in the benefit-cost guidance published by the FAA. The project focused on a review of benefit-cost literature, including benefit-cost analyses submitted to the FAA, and structured interviews with airport managers and other applicants, consultants who prepared BCA studies, and FAA staff. BCA is a tool to aid agencies in project selection and prioritization. At its core, it is a computational tool to determine whether an investment will generate benefits that will exceed its costs. This analysis is accomplished by expressing all current and future benefits and costs on an equivalent basis, which is their present value (PV). A project is economically efficient if it has a positive Net Present Value (calculated as the PV of benefits minus the PV of costs), and hence also a Benefit-Cost Ratio exceeding one.
The Evaluation Of Transportation Investment Projects
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Author : Joseph Berechman
language : en
Publisher: Routledge
Release Date : 2010-05-26
The Evaluation Of Transportation Investment Projects written by Joseph Berechman and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-05-26 with Business & Economics categories.
This book constructs a comprehensive and methodical economic, planning and decision-making framework for the evaluation of proposed transportation infrastructure investment projects, based on well-established theoretical principles.
Departments Of Transportation And Housing And Urban Development And Related Agencies Appropriations For 2015
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Author : United States. Congress. House. Committee on Appropriations. Subcommittee on Transportation, Housing and Urban Development, and Related Agencies
language : en
Publisher:
Release Date : 2014
Departments Of Transportation And Housing And Urban Development And Related Agencies Appropriations For 2015 written by United States. Congress. House. Committee on Appropriations. Subcommittee on Transportation, Housing and Urban Development, and Related Agencies and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with Administrative agencies categories.