United States Department of Transportation
i
Financial Achievability Model (FAM): Operationalization Case Studies and Analysis
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2022-07-01
[PDF-1.41 MB]
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Edition:Final Report, 6/7/2021 to 7/31/2022
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Abstract:In a prior research project (BDK83 977-24), the Financial Achievability Model (FAM) was created for the Florida Department of Transportation Research Center. The Research Center can use the FAM in all phases of research to meet strategic objectives, including demonstrating the potential benefits of proposed projects, allowing for a more cost-effective allocation of research funds. In all phases of research, the FAM produces values that can be used to highlight the benefits of FDOT research activities. Application of the FAM requires significant coordination and collaboration between project managers (PMs) and principal investigators (PIs) to ensure that appropriate information is collected at the appropriate stages of the research. While a formal approach to collecting this information from PMs has been successfully implemented by the FDOT Research Center, application of the FAM requires additional expertise in conducting economic analysis. This project addresses this need.
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