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140 A P P E N D I X C ROI Framework and Guidance References by Topic Transportation Asset Management Babinski, G., Fumia, D., Reynolds, T., Singh, P., Scott, T., Zerbe, R., âAn Analysis of Benefits from Use of Geographic Information Systems by King County Washington,â Richard Zerbe and Associates, March 2012. Bernhardt, S. and S. McNeil, âImpacts of Condition Assessment Variability on Life Cycle Costs,â ASCE, 2006. Cambridge Systematics, Inc. and Meyer, M., âU. S. Domestic Scan Program: Best Practices in Transportation Asset Management SCAN-TOUR REPORT,â NCHRP Project 20-68, February 2007. Crosswell, A., âReturn on Investment in Information Technology: A Guide for Managers,â Center for Technology in Government, University at Albany, SUNY, August 2004. De la Garza, J. M., C. G. Howerton, and D. Sideris, âA Study of Implementation of IP-S2 Mobile Mapping Technology for Highway Asset Condition Assessment,â Virginia Tech, 2011. Dye Management Group, Inc., âMonitoring Highway Assets with Remote Technology,â Michigan Department of Transportation, July 2014. Hendren, P., âAsset Management in Planning and Operations: A Peer Exchange,â Transportation Research Circular, No. E-C076, 2005. Hoekstra, R. and J. Breyer, âMulti-Level Linear Referencing System (MLLRS) Cost/Benefit Value Analysis Study,â Requested by AASHTO, May 2011. Kin S., B.R. Yen, and T.A. Lasky, âLiDAR for Data Efficiency,â Washington State Department of Transportation, September 2011. Lawrie, M., âIntelligent Asset Management,â Thales Transportation Systems GmbH, November 2013. Markow, M. and B. Hyman, âBridge Management Systems for Transportation Agency Decision Making,â NCHRP Synthesis 397, 2009. McNeil, S. and D. Mizusawa, âMeasuring the Benefits of Implementing Asset Management Systems and Tools,â Midwest Regional University Transportation Center, University of Wisconsin, Madison, 2008. McNeil, S., D. Mizusawa, S. Rahimian, and J. Bittner, âAssessing and Interpreting the Benefits Derived from Implementing and Using Asset Management Systems,â Project 06-06, Phase 2, Midwest Regional University Transportation Center, June 2011.
Appendix C 141 Nokes, W., L. du Plessis, M. Mahdavi, N. Burmas, T.J. Holland, and J. Harvey, âTools and Case Studies for Evaluating Benefits of Pavement Research,â 8th International Conference on Managing Pavement Assets, 2011. Schiffer, A., âAutomated Asset Inventory System,â Arizona DOT, April 2006. Spy Pond Partners, âSuccessful Practices in GIS-Based Asset Management,â NCHRP Report 800, 2015. Vasquez, C., K. Heaslip, and W. Louisell, âA Practice Proven Pavement Management System for Local Governments,â Submitted for Presentation and Publication at the 89th Annual Meeting of the Transportation Research Board, Washington, D.C., 2010. Ye, Z., C. Strong, X. Shi, S. Conger, and D. Huft, âBenefit-Cost Analysis of Maintenance Decision Support System,â Transportation Research Record No. 2107, 2009. Yen, K.S., B. Ravani, and T.A. Lasky, âLiDAR for Data Efficiency,â Washington State Department of Transportation, September 2011. Economic Analysis Guidance AASHTO, A Manual of User Benefit Analysis for Highways, 2nd Edition (The AASHTO âRed Bookâ), March 2003. Boardman, A.E., D.H. Greenberg, A.R. Vining, and D.L. Weimer, âCost Benefit Analysis: Concepts and Practice,â Third Edition, 2005, pp. 99-101. Bureau of Transport Economics, âFacts and Furphies in Benefit-Cost Analysis: Transport,â Research Report 100, November 1999, available at <www.bitre.gov.au/publications/1999/ report_100.aspx>. Cambridge Systematics, âBest Practice Methodology for Calculating Return on Investment for Transportation Programs and Projects,â NCHRP Report 8-36, Task 62, September 2008, available at <statewideplanning.org/wp-content/uploads/240_NCHRP-8-36-62.pdf>. de Neufville, R., âApplied Systems Analysis: Engineering Planning and Technology Management,â McGraw Hill, 1990. European Commission, Directorate General Regional Policy, âGuide to Cost Benefit Analysis of Investment Projects, Structural Funds, Cohesion Fund and Instrument for Pre-Accession,â July 2008. Federal Highway Administration, âEconomic Analysis Primer,â Washington, DC, August 2003. Forkenbrock, D. and G. Weisbrod, âGuidebook for Assessing Social and Economic Effects of Transportation Projects,â NCHRP Report 456, National Academy Press, 2001. General Accountability Office, âHighway and Transit Investments: Options for Improving Information on Projectsâ Benefits and Costs and Increasing Accountability for Results,â GAO-05-172, 2005. Gramlich, E., âA Guide to Benefit-Cost Analysis,â Second Edition, Waveland Press, 1990. HM Treasury, âThe Green Book, Appraisal and Evaluation in Central Government,â 2007.
142 Return on Investment in Transportation Asset Management Systems and Practices Markow, M., âEngineering Economic Analysis Practices for Highway Investment,â NCHRP Synthesis 424, 2012, available at < onlinepubs.trb.org/onlinepubs/nchrp/nchrp_syn_424.pdf>. Martland, C. Toward More Sustainable Infrastructure: Project Evaluation for Planners and Engineers. John Wiley & Sons, 2012. Mishan, E.J. and E. Quah, âCost-Benefit Analysis,â 5th edition, Routledge, 2007. Office of Management and Budget, Regulatory Analysis, Circular No. A-4, September 17, 2003, available at <www.whitehouse.gov/sites/default/files/omb/assets/omb/circulars/a004/a- 4.pdf>. âTransportation Benefit-Cost Analysis,â TRB Transportation Economics Committee (ABE20) website, available at <bca.transportationeconomics. org/home>. USDOT, âTiger Benefit-Cost Analysis (BCA) Resource Guide,â April 2, 2015, available at <www. transportation.gov/policy-initiatives/tiger/tiger-benefit-cost-analysis-bca-resource-guide >. USDOT, âTIGER BCA Guidance,â April 6, 2015, available at <www.transportation.gov/policy- initiatives/tiger/tiger-bca-guidance>. Discounting European Commission, Directorate General Regional Policy, âGuide to Cost Benefit Analysis of Investment Projects, Structural Funds, Cohesion Fund and Instrument for Pre-Accession,â July 2008. Harrison, M., âValuing the Future: the Social Discount Rate in Cost-Benefit Analysis,â Australian Government Productivity Commission, April 2010. Karp, L., âGlobal Warming and Hyperbolic Discounting,â Journal of Public Economics, No. 89, 2005, pp. 261â282. Moore, M.A., A.E. Boardman, A.R. Vining, D.L. Weimer, and D.H. Greenberg, âJust Give Me a Number! Practical Values for the Social Discount Rate,â Journal of Policy Analysis and Management 23(4), 2004, pp. 789-812. National Center for Environmental Economics, U.S. Environmental Protection Agency, âGuidelines for Preparing Economic Analyses,â December 2010. Office of Management and Budget, âGuidelines and Discount Rates for Benefit-Cost Analysis of Federal Programs,â Circular No. A-94, October 10, 1992, available at < www.whitehouse.gov/sites/ default/files/omb/assets/a94/a094.pdf>. Office of Management and Budget, â2015 Discount Rates for OMB Circular No. A-94,â M-15-05, January 21, 2015, available at <www.whitehouse.gov/sites/default/files/omb/memoranda/2015/m-15-05.pdf>. Spackman, M., âSocial Discount Rates for the European Union: an Overview,â Working Paper n. 2006-33, Fifth Milan European Economy Workshop, May 26-27, 2006. Spackman, M., âTime Discounting and of the Cost of Capital in Government,â Fiscal Studies, Vol. 25, No. 4, 2004, pp. 467â518.
Appendix C 143 Weitzman, M., âGamma Discounting,â The American Economic Review, Vol. 91, No.1, March 2001, pp. 260-271. Young, L., âDetermining the Discount Rate for Government Projects,â New Zealand Treasury Working Paper 02/21, September 2002. Accounting for Uncertainty Airport Cooperative Research Program, Report 76, âAddressing Uncertainty about Future Airport Activity Levels in Airport Decision Making,â Transportation Research Board, Washington DC, 2012. Bruce D. and D. Lewis, âRisk Analysis Sheds New Light on Economics of Transportation Projects,â Transportation Delivered, HDR, Spring/Summer 2009, pp. 6-10. Granger M. and M. Henrion, âUncertainty: A Guide to Dealing with Uncertainty in Quantitative Risk and Policy Analysis,â Cambridge University Press, 1990. Lewis, D., âThe Future of Forecasting: Risk Analysis as a Philosophy of Transportation Planning,â TR News 177, March-April 1995. Other Neter, J., M. Kutner, C. Nachtsheim, W. Wasserman, âApplied Linear Statistical Models,â 4th Edition, Irwin, Chicago, 1990.