Guidelines for Quantifying Benefits of Traffic Incident Management Strategies (2022) / Chapter Skim
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Pages 66-72
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66 Transforming Quantified to Monetized Benefits The most common quantified outcomes from TIM include reduction in delay, fuel consumption, environmental emissions, secondary incidents, and operating costs. Among these, the first four will require transforming outcomes to a monetary value.
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Transforming Quantified to Monetized Benefits 67 calls for a 3% discount rate for sensitivity analysis. The 3% rate is based on average, over time, yields on U.S.
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68 Guidelines for Quantifying Benefits of Traffic Incident Management Strategies U.S. DOT guidance.
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Transforming Quantified to Monetized Benefits 69 Although these values reflect the value of the driver's time, they do not reflect the total time value of the freight-hauling truck. In the passenger vehicle, the passengers are the valuable things being carried, and so their earning power is used to establish time value for the passenger vehicle.
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70 Guidelines for Quantifying Benefits of Traffic Incident Management Strategies The value of avoided emissions of CO2 and other greenhouse gases (GHGs) is not included in Table E7; assigning values for avoided GHG emissions is more complicated.
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Transforming Quantified to Monetized Benefits 71 Delay Cost Savings = DHS × [(FLT × HRLT × ORAT)
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72 Guidelines for Quantifying Benefits of Traffic Incident Management Strategies Reduction in Fuel Consumption Many factors affect the rate of fuel consumption. These factors can be broadly categorized into four groups: vehicle, environment, driver, and traffic conditions, among which speed accounts for over 70% of the variability in fuel consumption (Ardenkani et al., 1975)
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