Economics and Financing

This Report considers new analysis techniques, using advanced mathematical programming, to evaluate highway investment strategies based on criteria that are wider than simply economic efficiency. This report: Investigates the mathematical technique of "fuzzy logic" and the suitability of using it at the "route investment-strategy level"; Summarises overseas practice of mathematical fuzzy logic techniques, that would be relevant to evaluation of highway corridors at the investment strategy level; Develops and documents a prototype procedure based on fuzzy logic, that would allow Austroads Members to understand the applicability of fuzzy logic to evaluation of highway corridors at the investment strategy level; Applies the prototype procedure, head-to-head, with the Goal Achievement Matrix (GAM) procedure currently used by Road Agencies for evaluating investment in its road network; Makes recommendations on possible overall improvements to the GAM procedure, including consideration of how Link Visions are formulated, use of criteria, weights and GAM indicators, and the use of fuzzy rules in future procedu