Guidance for Calculating the Return on Investment in Transit State of Good Repair (2019) / Chapter Skim
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Pages 115-126
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From page 115... ...
C-1 A P P E N D I X C Model Details for Calculating Agency Costs This appendix details the asset models described in Chapter 2. These models were used to populate the set of default cost curves in the Return on Investment Calculator detailed in Chapter 4.
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From page 116... ...
C-2 Guidance for Calculating the Return on Investment in Transit State of Good Repair minimizing replacement mileage, a transit agency and its passengers by definition spend more money to keep the vehicle in service than to replace the vehicle. The agency life-cycle cost may be expressed as follows: (C-1)
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From page 117... ...
Model Details for Calculating Agency Costs C-3 Default values for converting energy use are 0.0111 tons per gallon of diesel fuel and 0.0008 tons per kilowatt hour. Emissions costs associated with the production of replacement vehicles may also be included in the vehicle replacement cost, if desired.
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From page 118... ...
C-4 Guidance for Calculating the Return on Investment in Transit State of Good Repair k0 a parameter based on average maintenance costs experienced for the asset k1 a parameter reflecting the rate at which maintenance costs increase with asset age. The model allows for specification of emissions cost or other costs, as well.
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From page 119... ...
Model Details for Calculating Agency Costs C-5 costs that would be incurred if the asset failed in that year. These costs include the present value of maintenance and other annual costs, discounted value of the extra cost that is incurred due to asset failure, and the present value of all costs that would be incurred when and after the asset is replaced at time t, which is NA/(1+i)
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C-6 Guidance for Calculating the Return on Investment in Transit State of Good Repair characterizing the asset's condition. This model approximates the condition of an asset using a Markov Decision Process.
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From page 121... ...
Model Details for Calculating Agency Costs C-7 Although Equation C-13 is a dynamic equation, it can be formulated and solved as a linear program. Once the optimal policy has been determined, the life-cycle cost for an asset in state x given action a is performed in the next period can be specified as follows: (C-14)
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From page 125... ...
Abbreviations and acronyms used without definitions in TRB publications: A4A Airlines for America AAAE American Association of Airport Executives AASHO American Association of State Highway Officials AASHTO American Association of State Highway and Transportation Officials ACI–NA Airports Council International–North America ACRP Airport Cooperative Research Program ADA Americans with Disabilities Act APTA American Public Transportation Association ASCE American Society of Civil Engineers ASME American Society of Mechanical Engineers ASTM American Society for Testing and Materials ATA American Trucking Associations CTAA Community Transportation Association of America CTBSSP Commercial Truck and Bus Safety Synthesis Program DHS Department of Homeland Security DOE Department of Energy EPA Environmental Protection Agency FAA Federal Aviation Administration FAST Fixing America's Surface Transportation Act (2015) FHWA Federal Highway Administration FMCSA Federal Motor Carrier Safety Administration FRA Federal Railroad Administration FTA Federal Transit Administration HMCRP Hazardous Materials Cooperative Research Program IEEE Institute of Electrical and Electronics Engineers ISTEA Intermodal Surface Transportation Efficiency Act of 1991 ITE Institute of Transportation Engineers MAP-21 Moving Ahead for Progress in the 21st Century Act (2012)
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TRA N SPO RTATIO N RESEA RCH BO A RD 500 Fifth Street, N W W ashington, D C 20001 A D D RESS SERV ICE REQ U ESTED ISBN 978-0-309-48087-1 9 7 8 0 3 0 9 4 8 0 8 7 1 9 0 0 0 0
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