Incorporating the Costs and Benefits of Adaptation Measures in Preparation for Extreme Weather Events and Climate Change—Guidebook (2020)

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174 During the course of research for the project, several existing frameworks were identified that are related to and support completing CBAs for climate adaptation. These frameworks are summarized in Table L-1. A P P E N D I X L Existing Frameworks Related to the Cost-Benefit Analysis Process Frameworks Objective Key Information FHWA Vulnerability Assessments (2012) Understanding the transportation system’s vulnerability to climate change Asset type and characteristics Asset criticality Asset vulnerability to key climate variables Risk (based on vulnerability and likelihood of impact) Adaptation options Ranked priorities MAP-21— Compliant Transportation Asset Management Plans (TAMP) (2013) Enabling sustainable asset stewardship and investment Asset listing and conditions (MAP-21 requires, at minimum, pavement and bridges) Asset management objectives and measures Performance gaps Life-cycle cost and risk analysis Financial plan Investment strategies (FHWA, 2016) TAMP for Extreme Weather and Adaptation (Meyer and Flood, 2015) Building resilience to extreme weather and climate change into transportation assets Record of asset performance and damage during previous extreme events Frequency and type of extreme weather events that have been experienced Projected changes in extreme events and expected impact to agency objectives, asset condition, performance, maintenance, and life-cycle management Relative ranking of vulnerability by asset category Identification of “too important to fail” and “repetitive loss” assets Reconstruction and recovery funding needs and mechanisms Table L-1. Vulnerability assessments and transportation asset management plans contain many of the prerequisites for the climate-resilience CBA process.