Details:

Creators:
Jiang, Yi ; Zhao, Guangyuan ; Li, Shuo
Jiang, Yi ; Zhao, Guangyuan ; Li, Shuo Less -
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
File Type:

Supporting Files

• No Additional Files

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