Economic analysis is a critical component of a comprehensive project or program evaluation methodology that considers all key quantitative and qualitative impacts of highway investments. It allows highway agencies to identify, quantify, and value the economic benefits and costs of highway projects and programs over a multiyear timeframe. This research was conducted to provide the Indiana Department of Transportation (INDOT) with a uniform economic analysis methodology. The developed economic evaluation model applies the methodology of life-cycle benefit cost analysis to perform economic analysis for proposed highway projects. As a result of this research, an Excel based computer program, the Indiana Highway Economic Evaluation Model (IHEEM), was developed to provide a convenient tool for INDOT personnel to implement the method. The main costs and benefits contained in the model are agency costs and user benefits. Agency costs include initial costs, routine maintenance costs, rehabilitation costs, and remaining value of the facility. User benefits contain travel time savings, vehicle operating cost savings, and crash reduction savings. In addition to the deterministic method for cost and benefit analysis, an alternative probabilistic approach was also developed and incorporated into IHEEM so that the outputs can be expressed as ranges of values with likelihoods of occurrence.

Project economic analysis is a tool used by the Asian Development Bank (ADB) to ensure that ADB operations comply with its Charter. The guidelines in this publication are a revised version of the 1997 edition. The revision responds to the changing development context and ADB operational priorities, and aims to address the recommendations of the ADB Quality-at-Entry Assessments for more methodological work on project economic analysis. The revised guidelines provide general principles for the conduct of project economic analysis, and should be read together with handbooks, technical reports, and other reference materials published by ADB dealing with sector-specific project economic analysis in detail.

This book provides a non-technical introduction to the fundamental principles and techniques of regional impact and evaluation analysis. The book is written for readers who have a minimal background in mathematics and economics and so the materials listed in the bibliographies have been chosen for their accessibility to such readers. References to relevant papers of a more technical nature are indicated in notes in each reference.Unlike existing texts, which usually concentrate on regional impact or evaluation analysis, Regional Economic Impact Analysis and Project Evaluation offers an extensive introduction to both these subjects, since both are critical to the study and practice of regional economic analysis.Two case studies, intended as illustrations of practical applications, are included in each of the six chapters that deal with specific principles or techniques. While many of the case studies and much of the literature cited in the bibliographies is Canadian, a substantial portion is from the United States and Great Britain, demonstrating that the principles and techniques discussed in this book are universally applicable.

This pioneering text provides a holistic approach to decisionmaking in transportation project development and programming, whichcan help transportation professionals to optimize their investmentchoices. The authors present a proven set of methodologies forevaluating transportation projects that ensures that all costs andimpacts are taken into consideration. The text's logical organization gets readers started with asolid foundation in basic principles and then progressively buildson that foundation. Topics covered include: Developing performance measures for evaluation, estimatingtravel demand, and costing transportation projects Performing an economic efficiency evaluation that accounts forsuch factors as travel time, safety, and vehicle operatingcosts Evaluating a project's impact on economic development and landuse as well as its impact on society and culture Assessing a project's environmental impact, including airquality, noise, ecology, water resources, and aesthetics Evaluating alternative projects on the basis of multipleperformance criteria Programming transportation investments so that resources can beoptimally allocated to meet facility-specific and system-widegoals Each chapter begins with basic definitions and concepts followedby a methodology for impact assessment. Relevant legislation isdiscussed and available software for performing evaluations ispresented. At the end of each chapter, readers are providedresources for detailed investigation of particular topics. Theseinclude Internet sites and publications of international anddomestic agencies and research institutions. The authors alsoprovide a companion Web site that offers updates, data foranalysis, and case histories of project evaluation and decisionmaking. Given that billions of dollars are spent each year ontransportation systems in the United States alone, and that thereis a need for thorough and rational evaluation and decision makingfor cost-effective system preservation and improvement, this textshould be on the desks of all transportation planners, engineers,and educators. With exercises in every chapter, this text is anideal coursebook for the subject of transportation systems analysisand evaluation.