Monday, 19 September 2022
An economic analysis has estimated that the Austroads’ national initiative to harmonise temporary traffic management practice would need to achieve a crash reduction at roadside worksites of approximately only 5% to achieve a benefit-cost ratio of one.
The findings are outlined in the report that details a cost benefit analysis of Austroads’s proposal for national harmonisation of temporary traffic management practice, which aims to improve safety at roadside worksites.
Drawing on crash data supplied by state and territory agencies and other published sources, the study estimated that nationally there are 18 fatal crashes, 245 serious injury crashes and 530 minor injury crashes at roadside worksites annually. Over a 10-year period at a 4% discount rate the total cost of those crashes would be $3.2 billion.
"The implementation work to harmonise practice across all states and territories is well underway. The analysis showed that implementing and operating the initiative over a 10-year period at a 4% discount rate would result in costs of around $156 million spread across Austroads, road transport agencies, registered training organisations, traffic management companies and individuals,” said Geoff Allan, Austroads Chief Executive.
This effectively represents a cost of approximately 5% of the total cost of crashes and hence the benefit-cost ratio of one. This is equivalent to the total of the following annual crash reductions: 0.8 fewer fatal crashes, 11.7 fewer serious injury crashes and 25.4 fewer minor injury crashes per year.
“We are fully expecting that the work will save lives. Given the magnitude of the changes, Austroads is working carefully and closely with its members to ensure their adoption and transitional arrangements of the initiative are met.” Geoff said.