Framework and Tools for Estimating Benefits of Specific Freight Network Investments (2011) / Chapter Skim
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Pages 52-58
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From page 52... ...
This requires the development of common metrics that are meaningful across all of the modes and from the perspective of the affected stakeholders.
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From page 53... ...
Although it is critically important to allow quantitative assessments of project benefits to drive the Framework, it also needs to be flexible enough to incorporate qualitative assessments. These qualitative assessments will be helpful in fatal flaw analyses -- reviews to ensure that the proposed project is practical and fits within the goals of affected stakeholders (particularly those without a direct financial stake in the investment)
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From page 54... ...
Change in Travel Distance Change in Travel Time Change in Travel Quality Change in User Operating Costs (by truck, auto, rail, aircraft, and vessel) Change in Crash/ Incident Costs (by truck, auto, and rail)
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From page 55... ...
To properly account for these effects and to account for Benefit Type Benefit Metric Public Sector Service Provider Shipper/ End User Other Impacted Party Private-Sector Asset Provider Capacity Transportation Cost Savings Safety Crash Reductions Environmental Quality Emission Reductions Scheduling/ Reliability Reliability Improvements Facility Maintenance Costs Pavement/Track Maintenance Savings Loss and Damage Pavement/Track Conditions Productivity Asset Velocity Economic Development Jobs, Income, Industry Output Tax Revenue Tax Base Impact Facility Capital Costs Facility Costs Table 4.1. Benefit metrics by benefit and stakeholder type.
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From page 56... ...
Then the NPV of the costs and benefits is calculated using the appropriate discount rate. 4.2 Incorporating Risk The incorporation of risk into the Freight Evaluation Framework represents a significant enhancement to the freight investment analysis tools, methods, and processes that have been developed by U.S.DOT, NCHRP, AASHTO, various state DOTs, and universities.
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From page 57... ...
The process for assessing risk in the Framework screens and rejects grand failures of the Case 2 type. Projects that pass the first level of screening will be subject to additional scrutiny and risk analysis, permitting informed decisions on the level of risk and its acceptability to the project stakeholders.
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From page 58... ...
For instance, an infrastructure provider could have contractual guarantees that cover its prospective losses in the event of facility underutilization.) These examples show that the asset provider (who builds and operates the new facility)
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