Methods for evaluation of transportation projects in the USA |
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| Institution: | 1. Monash University Accident Research Centre, Monash Injury Research Institute, Australia;2. SWOV – Institute for Road Safety Research The Netherlands;1. Universidade Federal Fluminense, Programa de Pós-Graduação em Administração – PPGA/UFF, R. Des. Ellis Hermydio Figueira 783, Aterrado, Volta Redonda, RJ 27213-145, Brazil;2. Centro Federal de Educação Tecnológica Celso Suckow da Fonseca – CEFET/RJ, R. do Areal, 522, Parque Mambucaba, Angra dos Reis, RJ 23953-030, Brazil;1. Department of Art and Architecture, Science and Research Branch, Islamic Azad University, Tehran, Iran;2. Department of Architecture and Urban Planning, Beyza Branch, Islamic Azad University, Beyza, Iran;1. The Center for Modern Chinese City Studies, East China Normal University, Shanghai 200062, China;2. Department of Civil, Environmental, and Geo-Engineering, University of Minnesota, 500 Pillsbury Drive SE, Minneapolis, MN 55455, USA |
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| Abstract: | “Projects”, as the term is used here, are capital investments—from resurfacing streets to multi-billion dollar construction—that create transportation infrastructure. “Methods” are primarily benefit–cost analysis, although other frameworks have been, and still remain, in use. Most projects are constructed by public agencies and authorities, primarily at the state and local level, but the federal government is the dominant source of evaluation guidance because most transportation projects use some share of federal funds.Benefit–cost analysis (BCA or BC) is a decision framework for government agencies to use in considering the desirability of taking alternative actions, whether investment, operations, or regulation. This survey describes the use of BCA by US transportation agencies, comparing theory, published guidance, and actual practice. |
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