An economic analysis methodology for project evaluation and programming.

Details

• Creators:
  Jiang, Yi ; Zhao, Guangyuan ; Li, Shuo
• Corporate Creators:
  Purdue University. Joint Transportation Research Program
• Corporate Contributors:
  United States. Federal Highway Administration
• Subject/TRT Terms:
  Benefit Cost Analysis Computer Models Construction Projects Economic Analysis Evaluation Highways Life Cycle Costing Project Management User Benefits
• Publication/ Report Number:
  FHWA/IN/JTRP-2013/17
• Resource Type:
  Tech Report
• Geographical Coverage:
  Indiana
• Corporate Publisher:
  Indiana. Dept. of Transportation
• Abstract:
  Economic analysis is a critical component of a comprehensive project or program evaluation methodology that considers all key
  
  quantitative and qualitative impacts of highway investments. It allows highway agencies to identify, quantify, and value the economic
  
  benefits and costs of highway projects and programs over a multiyear timeframe. This research was conducted to provide the Indiana
  
  Department of Transportation (INDOT) with a uniform economic analysis methodology. The developed economic evaluation model
  
  applies the methodology of life‐cycle benefit cost analysis to perform economic analysis for proposed highway projects. As a result of
  
  thisresearch, an Excel based computer program,the Indiana Highway Economic Evaluation Model (IHEEM), was developed to provide a
  
  convenient tool for INDOT personnel to implement the method. The main costs and benefits contained in the model are agency costs
  
  and user benefits. Agency costsinclude initial costs, routine maintenance costs, rehabilitation costs, and remaining value of the facility.
  
  User benefits contain travel time savings, vehicle operating cost savings, and crash reduction savings. In addition to the deterministic
  
  method for cost and benefit analysis, an alternative probabilistic approach was also developed and incorporated into IHEEM so that the
  
  outputs can be expressed asranges of values with likelihoods of occurrence.
  
  
• Format:
  PDF
• Funding:
  SPR-3429
• Collection(s):
  US Transportation Collection
• Main Document Checksum:
  urn:sha256:eddde19dd59b40704d5fafaeb8c88abb11d16f5e27de8feeb43e93bb471efe38
• Download URL:
  https://rosap.ntl.bts.gov/view/dot/26781/dot_26781_DS1.pdf
• File Type:
  [PDF - 7.22 MB ]