State agencies, regional agencies, cities, towns, and local municipalities design and maintain transportation systems for the benefit of users by improving mobility, reducing travel time, and enhancing safety. Cost–benefit analysis based on travel time savings and the value of reliability helps these agencies in prioritizing transportation projects or when evaluating transportation alternatives. This paper illustrates the use of monetary values of travel time savings and travel time reliability, computed for the state of North Carolina, to help assess the impact of transportation projects or alternatives. The results obtained indicate that, based on the illustration of the effect and impact of various transportation projects or alternatives, both improved travel time and reliability on roads yield significant monetary benefits. However, from cost–benefit analysis, it is observed that greater benefits can be achieved through improved reliability compared with benefits from a decrease in travel time for a given section of road.


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    Title :

    Illustrating the Monetary Impact of Transportation Projects/Alternatives using the Values of Travel Time and Travel Time Reliability


    Additional title:

    Transportation Research Record: Journal of the Transportation Research Board


    Contributors:


    Publication date :

    2018-07-07




    Type of media :

    Article (Journal)


    Type of material :

    Electronic Resource


    Language :

    English



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