Engineering Economic Analysis Practices for Highway Investment (2012) / Chapter Skim
Currently Skimming:
Pages 4-10
The Chapter Skim interface presents what we've algorithmically identified as the most significant single chunk of text within every page in the chapter.
Select key terms on the right to highlight them within pages of the chapter.
From page 4... ...
5 Background Engineering economic analysis applies economic concepts and methods to engineering problems to support decisions on a best course of action. Within highway transportation, these decisions typically involve selection of the preferred alternative among projects or levels of service affecting highways, roads, or streets.
|
From page 5... ...
6 • State DOTs recognize their stewardship responsibilities in preserving and operating the significant investment in the existing highway system. Those responsibilities entail informed decisions on how, where, and when to invest public tax dollars to maintain and improve that system.
|
From page 6... ...
7 • Life-cycle cost analysis (LCCA) -- An economic assessment of competing project or service alternatives, considering all significant costs of ownership (agency costs)
|
From page 7... ...
8 Factor Economic Analyses Financial Analyses Remarks Purpose To assess, from an economic standpoint, whether the project is worth doing To determine whether and how project costs can be paid for Monetary measure Constant dollars recommended, calibrated to a defined base year Current (or year-of-expenditure) dollars Refer to FHWA Primers and AASHTO Glossary Interpretation of dollar inflows Benefits to agency and to highway users (and possibly non-users)
|
From page 8... ...
9 Work proceeded through the 1970s to broaden applications of computerized systems to life-cycle economic analyses of highway investments, including developments in road preservation (e.g., pavement management and bridge management systems) , mobility (e.g., urban travel demand models, intercity surface transportation planning models, and congestion models)
|
From page 9... ...
10 mium to the cost of pavement repairs, encouraging strategies that provide longer-lasting pavement performance. Analytic tools have also been developed for pavement type selection, a consideration in pavement design.
|
From page 10... ...
11 included. The focus is on innovative, unique, or comprehensive applications of EEA for highway investments specifically, recognizing that corresponding examples exist for other surface transportation modes such as rail and transit.
|
Key Terms
This material may be derived from roughly machine-read images, and so is provided only to facilitate research.
More
information on Chapter Skim is available.