Development of a process for quantifying the benefits of research : final report.
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2017-07-04
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TRIS Online Accession Number:1644608
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Abstract:MnDOT Research Services funds and administers approximately 180 transportation research projects annually at a cost of slightly more than $3 million. This project developed an easy-to-apply process for quantifying the potential benefits of research and comparing the monetary benefits of implemented research results with the cost of doing the research. Researchers applied this process to a limited number of previously completed MnDOT research projects and determined that the potential three-year cost savings (approximately $69 million) of just 11 sample projects was enough to fund the cost of the entire research program for approximately seven years. The ultimate outcome of this project is a guidance document and user tool for quantifying the benefits of research recommendations. Related materials: - User guide: http:// mndot.gov/research/reports/2017/201713A.pdf - Final presentation: http:// mndot.gov/research/reports/2017/201713B.pdf - Spreadsheet tool: http:// mndot.gov/research/reports/2017/201713C.pdf
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