DEVELOPMENT OF A VALUE CRITERIA METHODOLOGY FOR ASSESSING HIGHWAY SYSTEMS COST-EFFECTIVENESS
A resource allocation procedure was needed for selecting the most cost-effective set of countermeasures to address any given highway safety problem. The procedure developed in response to this need is divided into three phases. In Phase 1, (1) the possible countermeasures are identified; (2) their cost and potential impact on accidents are estimated; (3) the effectiveness estimates are adjusted to reflect the loss in impact that is likely to result from a failure to properly install, use, and maintain each countermeasure; (4) other nonsafety impacts of each countermeasure are identified; and (5) the timing, cost, and probability offgaining approval for each countermeasure are estimated. In Phase 2, the present value of the benefits and costs for each countermeasure is determined; values are placed on the nonmonetary benefits; a benefit-cost or cost-effectiveness measure is computed for each countermeasure are identified. Phase 3 includes application of a methodology for selecting the most cost-effective set of countermeasures to implement and an analysis of how sensitive the set selected is to variation in parameters like discount rates and accident costs that were used in the valuation procedure. The methodology was applied to two highway safety problems that demonstrate its use. The best solution to the stopping-sight-distance problem combined installation of flashing beacon signs on hazardous horizontal curves; required inclusion of high-mounted, center rear brake lights on new cars; and training for new drivers on how to recognize and respond to hazardous sight-distance situations. The best solution to the drunk-driving problem combined 10 countermeasures, including highway, driver, and vehicle countermeasures. (Author) vehicle countermeasures. (Author)
-
Corporate Authors:
Granville Corporation
1425 K Street, NW, Suite 1000
Washington, DC United States 20005Federal Highway Administration
Turner-Fairbank Highway Research Center, 6300 Georgetown Pike
McLean, VA United States 22101 -
Authors:
- Miller, T R
- Hunter, W W
- Waller, P F
- Whitman, R D
- Whiting, B E
- Publication Date: 1985-5
Media Info
- Features: Appendices; Figures; Tables;
- Pagination: 208 p.
Subject/Index Terms
- TRT Terms: Benefit cost analysis; Cost effectiveness; Costs; Countermeasures; Crashes
- Uncontrolled Terms: Accident costs; Criteria; Selecting
- Subject Areas: Administration and Management; Finance; Highways; Planning and Forecasting; Safety and Human Factors; I10: Economics and Administration;
Filing Info
- Accession Number: 00399518
- Record Type: Publication
- Report/Paper Numbers: FHWA-RD-85-086
- Contract Numbers: DTFH61-83-C00065
- Files: TRIS, ATRI, USDOT
- Created Date: Aug 25 2004 1:43AM