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Highway Costs. Spring 2014. Highway Transportation Costs. HIGHWAY USER COSTS. Value of Time. Direct Crash Costs (per person). * $7.00 per single-unit trucks, $8.00 for combination trucks (include wage and benefits for drivers). Comprehensive Crash Costs (per person).

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highway costs

Highway Costs

Spring 2014

slide3

HIGHWAY USER COSTS

Value of Time

Direct Crash Costs (per person)

* $7.00 per single-unit trucks, $8.00 for combination trucks (include wage and benefits for drivers)

slide4

Comprehensive Crash Costs (per person)

http://www.nsc.org/news_resources/injury_and_death_statistics/Pages/EstimatingtheCostsofUnintentionalInjuries.aspx

slide5

USER BENEFITS

Unit highway user cost:

Where,

HU = Highway user costs in dollars per 1,000 vehicles

B = basic section costs (travel time, vehicle running costs

as a function of highway geometric characteristics)

A = Crash costs

L = length of section

T = Transition section costs due to change in speed between adjacent sections

D = additional costs caused by delay at intersections

slide6

USER BENEFITS

User Benefits (between two alternatives):

Induced and Diverted Traffic (may need to take average traffic volumes between alternatives):

Where,

U0= user cost per unit of traffic without the improvement

U1 = user cost per unit of traffic with the improvement

V0 = traffic volume without the improvement

V1 = traffic volume with the improvement

slide7

Basic Section Costs (B)

Wright & Dixon (2004) Figure 4-1

slide8

Section Transition Costs (T)

Wright & Dixon (2004) Figure 4-2

slide9

Intersection Related Costs (D)

Wright & Dixon (2004) Figure 4-3

slide10

Intersection Related Costs – Idling (D)

Wright & Dixon (2004) Figure 4-4

slide11

Important Economic Equations

Present Value of some future single payment:

Present Value of a series of uniform annual end payment:

Present Value Factor when user benefits change from year to year:

r = average growth rate, = future annual value estimate/first year value,

Y = number of years between estimates

slide12

Benefit-Cost Ratio

Where,

PV = Present value

ΔU = user benefits, the reductions in highway costs

ΔM = increase in annual maintenance, operating and administrative cost due to investment

ΔR = increase in residual value due to the project at the end of the project life

ΔI = increase in investment costs due to the project

slide13

EXAMPLE

A highway agency is considering eliminating an S-Sharp curve on a multilane highway. The total construction cost for the improvement is estimated to be $2 million and will be incurred at the inception of the project. Annual maintenance costs are anticipated to be $2,000 less after the improvement because the elimination of the curve reduces pavement and guardrail damage.

The characteristics of the proposed alternatives:

key assumptions
Key Assumptions
  • Two curves have same geometry: can be analyzed together
  • There is no speed differential for passing one curve to the other
  • The design speed increases from 50 mph to 60 mph for the alternative design (#1)
  • One-way hourly volume is equal to the ADT divided by 18 (the number of hours used for the analysis)
  • The capacity is reduced in year 20 to reflect normal deterioration of the roadway
slide17

Basic Section Costs – Alternative 0 Year 1

3

27.8

71

20

B = 3 + 71 + 20 + (27.8 x $3/hour) = $177.4

slide18

CALCULATION OF USER BENEFITS

Assuming a 25-year analysis period and a 4-percent discount rate, the present value of benefits is then PWg x first year of project:

18.7 x $172,827 = $3,231,865

For two-way traffic:

2 x $3.231,865 = $6,463,730

Note:

slide19

CALCULATION OF PROJECT-RELATED COSTS

NET PRESENT VALUE OF PROJECT

NPV = $6,463,730 – $1,718,198

NPV = $4,745,532

BENEFIT-COST RATIO

B/C = $6,463,730 / $1,718,19

NPV = 3.62 > 1

slide20

UPDATING USER COSTS

Wright & Dixon (2004) Table 4-9

slide21

UPDATING USER COSTS

Wright & Dixon (2004) Table 4-10

slide22

UPDATING USER COSTS

Wright & Dixon (2004) Example 4-6

slide23

Construction Unit Costs

Some useful websites:

http://www.fao.org/docrep/T0579E/t0579e06.htm

http://www.dot.state.tx.us/insdtdot/orgchart/cmd/cserve

/bidprice/s_0101.htm

http://www.bookmarki.com/index.asp?PageAction

=VIEWPROD&ProdID=45

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