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:
  • Highways
  • Construction projects
  • Evaluation
  • Economic analysis
  • Benefit cost analysis
  • Life cycle costing
  • Project management
  • User benefits
  • Computer models
• 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.
  More +
• Format:
  PDF
• Funding:
  SPR-3429
• Download URL:
  https://rosap.ntl.bts.gov/view/dot/26781/dot_26781_DS1.pdf
• File Type:
  [PDF - 7.22 MB]
• Collection(s):
  US Transportation Collection
• Main Document Checksum:
  urn:sha256:eddde19dd59b40704d5fafaeb8c88abb11d16f5e27de8feeb43e93bb471efe38