Economic appraisals of road clearways

This paper presents a framework and a model for strategic assessment and economic appraisal of Clearways. Clearways aims to improve travel time on major roads during the morning and afternoon peak as well as relieving road traffic congestion by prohibiting kerbside stopping on large sections of main roads for vehicles to provide additional capacity for moving traffic operating at capacity, thereby reducing congestion. The strategic assessment is a decision-support tool that checks whether a specific clearway proposal aligns with transport objectives, policies and strategic plans and other important factors. The tool uses both quantitative and qualitative information to provide a first pass assessment of clearway projects to come up with a list of possible projects that can be prioritised and can go through the second stage assessment that includes full economic appraisal. The paper presents a methodology for cost benefit analysis of clearway projects either for the extension of current operating clearway times or the expansion of the clearway network to include new road sections. The benefit estimation considers traffic volume distribution by time of day, direction and other road characteristics such as road capacity. The cost benefit analysis (CBA) model utilises localised traffic data to provide key economic evaluation results such as the BCR and NPV. The CBA model for clearways provides the capability to estimate benefits such as travel time savings based on speed flow relationship, vehicle operating cost savings, as well as other benefits such as environment and accident savings.

• Record URL:
  http://atrf.info/papers/2016/index.aspx
• Authors:
  • Legaspi, J
  • Liew, N
  • Wang, B
• Conference:
  • Australasian Transport Research Forum (ATRF), 38th, 2016, Melbourne, Victoria, Australia
• Publication Date: 2016-11

Language

• English

Media Info

• Pagination: 11p
• Monograph Title: 38th Australasian Transport Research Forum (ATRF 2016), Melbourne, 16th - 18th November 2016

Subject/Index Terms

• TRT Terms: Arterial highways; Benefit cost analysis; Decision support systems; Economic analysis; Economics; Highway capacity; Mathematical models; No parking; On street parking; Traffic flow; Travel time
• Geographic Terms: Australia; New South Wales
• ATRI Terms: Clearway; Cost benefit analysis; Decision support; Economic analysis; On-street parking; Traffic capacity; Traffic flow; Transport economics; Travel time
• ITRD Terms: 645: Capacity (traffic network); 2248: Decision process
• Subject Areas: Economics; Highways; I73: Traffic Control;

Filing Info

• Accession Number: 01627483
• Record Type: Publication
• Source Agency: ARRB
• Files: ITRD, ATRI
• Created Date: Feb 27 2017 10:14AM