Evaluating Intelligent Transportation Systems: A Cost-Benefit Approach
Cost-Benefit Analysis Evaluation Study
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A cost-benefit study of the City of Portland's traffic signal preemption system (TSP) was completed over a three year period. During that time, 8 bus routes were equipped with TSP on a staggered schedule. For a one year period prior to TSP, a one year period during installation, and a one year period after TSP econometric data was collected.A series of pooled cross-section time-series models were designed and employed to capture benefits in categories of significance. Cost information was obtained from agency budget data.The study found that TSP would result in a significant net social benefit...
A cost-benefit study of the City of Portland's traffic signal preemption system (TSP) was completed over a three year period. During that time, 8 bus routes were equipped with TSP on a staggered schedule. For a one year period prior to TSP, a one year period during installation, and a one year period after TSP econometric data was collected.A series of pooled cross-section time-series models were designed and employed to capture benefits in categories of significance. Cost information was obtained from agency budget data.The study found that TSP would result in a significant net social benefit of roughly six million dollars over the ten year life-span of the system. Other study benefits included: the net benefit value can be compared to other transit projects; and evidence that better decision-making information is available for policy makers on all levels of Government. Consequently, decisions regarding ITS deployment will be enhanced in the future.
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