Economics and financing

Cover of Economic Evaluation of Road Investment Proposals: Valuation of Benefits of Roadside ITS Initiatives
Economic Evaluation of Road Investment Proposals: Valuation of Benefits of Roadside ITS Initiatives
  • Publication no: AP-R216-03
  • ISBN: 0 85588 645 5
  • Published: 27 February 2003
This report is a guide to the approach and parameters for valuing road user benefits for use in economic evaluations of roadside Intelligent transport systems (ITS). It complements the Austroads Benefit Cost Analysis Manual. The objectives of the report are to improve consistency of approach and methodology across agencies, transparency of methodology, and robustness of evaluations. Examples of roadside ITS covered include variable message signs, changeable message signs, variable speed limit signs, and integrated urban traffic management. The report proposes classifications of ITS technologies (15 categories) and road user benefits (18 categories), to assist in matching technologies and their benefits. The report is aimed at analysts undertaking economic appraisals of ITS roadside initiatives, and provides assistance in determining the types and magnitude of road user benefits that should be used. Reductions in congestion, crashes, travel time, vehicle operating costs and freight costs are the chief road user benefits discussed. A primary focus in the report is the quantification of parameters such as person-hours, vehicle kilometres, average speed, and crash rates, rather than unit costs, which Austroads separately updates and publishes regularly. The report includes detailed results of extensive searches of literature and web sites, noting the need for analysts to review on-line information due to the rate of development of roadside ITS applications. Reported quantified benefits for ITS proposals and installations are tabulated. The report notes significant variations in estimates of road user benefits due to local circumstances, which are not always reported in detail. The report recommends a commitment to post completion reviews of ITS installations to support improved understanding of the benefits, thereby enabling improved validity of future evaluations.
  • ECONOMIC EVALUATION OF ROAD INVESTMENT PROPOSALS
  • EXECUTIVE SUMMARY
  • TABLE OF CONTENTS
  • 1. INTRODUCTION AND BACKGROUND
  • 2. INFORMATION CLASSIFICATION
  • 3. ITS ECONOMIC EVALUATION APPROACH AND METHODOLOGY
  • 4. SOURCES OF INFORMATION
  • 5. PERFORMANCE INDICATORS
  • 6. NON-QUANTIFIED BENEFITS
  • 7. CASE STUDIES
  • 8. CONCLUSIONS AND INFORMATION REQUIREMENTS
  • 9. REFERENCES
  • APPENDIX A SUMMARY OF AVAILABLE INFORMATION
  • APPENDIX B CASE STUDIES
  • INFORMATION RETRIEVAL