Guide for Conducting Benefit-Cost Analyses of Multimodal, Multijurisdictional Freight Corridor Investments (2017) / Chapter Skim
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Pages 31-39
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31 S t e p 4 4.1 Goal The goal of this step is to identify all benefit triggers, project measures, and metrics that could be important in the BCA for all the modes involved in the proposed project(s)
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32 Guide for Conducting Benefit-Cost Analyses of Multimodal, Multijurisdictional Freight Corridor Investments Example Project type TimeSavings Throughput/ Capacity/ Trade/Cargo Flows Operations Costs and/or Maintenance Environmental Safety/ Accidents Safety/ Damage Reduction Reliability/ Delay Reductions Other (Development, Jobs, and Tax Revenues) Capacity enhancements (line haul or terminal)
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Identify Benefit triggers and Metrics 33 in decision making (by agencies or users) by measuring them first at the project level and then using a price assigned by an organization or by the market to allow monetization.
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34 Guide for Conducting Benefit-Cost Analyses of Multimodal, Multijurisdictional Freight Corridor Investments • Induced logistical effects. • Supply chain reorganization effects.
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Identify Benefit triggers and Metrics 35 Quantifiable, Non-Quantifiable Benefits, and Other Social Benefits (or Non-Benefits) in BCA Carefully catalog benefits that can be quantified or valued in the BCA as monetized dollar values, and those that cannot be quantified or monetized in the BCA but can be documented by a range of metrics (qualitative or quantitative)
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36 Guide for Conducting Benefit-Cost Analyses of Multimodal, Multijurisdictional Freight Corridor Investments In order to determine if higher-order benefits are important, certain criteria must be evaluated: • Transport cost changes are large across the build and no-build alternatives (greater than 25% change compared to baseline no-build)
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Identify Benefit triggers and Metrics 37 spectrum and internalized for the use of cargo that is highly time sensitive. FAA provides guidance on the specific variables to be used for valuing the delay reduction metrics.
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38 Guide for Conducting Benefit-Cost Analyses of Multimodal, Multijurisdictional Freight Corridor Investments • Separation of flows by trip origin, trip destination, and through travel, if possible. • Directness (or circuity of travel)
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Identify Benefit triggers and Metrics 39 When a project or alternative will not (or is not expected to) lead to diversion of flows, the analysis focuses on existing and generated users and benefits to them.
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