United States Department of Transportation
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User guide : process for quantifying the benefits of research.
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2017-07-01
[PDF-5.64 MB]
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TRIS Online Accession Number:1645303
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Abstract:The Minnesota Department of Transportation Research Services has adopted a process for quantifying the monetary benefits of research projects, such as the dollar value of particular ideas when implemented across the state’s transportation system. This process is adaptable to a variety of research topics and benefit categories. Research Services has incorporated the potential benefit-cost ratio of proposed research projects into the selection process for new projects. The purpose of this user guide is to explain the seven-step benefit quantification process and use of Research Services’ benefit quantification spreadsheet tool. The tool calculates the potential benefit of research recommendations in terms of the potential cost savings that could be realized by their implementation, and estimates a benefit-cost ratio. The tool performs the calculations with user input values and serves as a repository for the data, assumptions, and sources included in the quantification process.
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