Updating, upgrading, refining, calibration and implementation of trade-off analysis methodology developed for INDOT.
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Updating, upgrading, refining, calibration and implementation of trade-off analysis methodology developed for INDOT.

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English

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    NTL-PLANNING AND POLICY-PLANNING AND POLICY;NTL-ECONOMICS AND FINANCE-ECONOMICS AND FINANCE;
  • Abstract:
    As part of the ongoing evolution towards integrated highway asset management, the Indiana Department of Transportation (INDOT),

    through SPR studies in 2004 and 2010, sponsored research that developed an overall framework for asset management. This was

    intended to foster decision support for alternative investments across the program areas on the basis of a broad range of performance

    measures and against the background of the various alternative actions or spending amounts that could be applied to the several

    different asset types in the different program areas. The 2010 study also developed theoretical constructs for scaling and amalgamating

    the different performance measures, and for analyzing the different kinds of trade‐offs. The research products from the present study

    include this technical report which shows how theoretical underpinnings of the methodology developed for INDOT in 2010 have been

    updated, upgraded, and refined. The report also includes a case study that shows how the trade‐off analysis framework has been

    calibrated using available data. Supplemental to the report is Trade‐IN Version 1.0, a set of flexible and easy‐to‐use spreadsheets that

    implement the tradeoff framework. With this framework and using data at the current time or in the future, INDOT’s asset managers are

    placed in a better position to quantify and comprehend the relationships between budget levels and system‐wide performance, the

    relationships between different pairs of conflicting or non‐conflicting performance measures under a given budget limit, and the

    consequences, in terms of system‐wide performance, of funding shifts across the management systems or program areas.

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