piarc tc c.2.3: cost-effectiveness of safety measures and allocation of resources
DESCRIPTION
PIARC TC C.2.3: Cost-Effectiveness of Safety Measures and Allocation of Resources. State of Michigan Time of Return Safety Calculation. Larry E. Tibbits Michigan Department of Transportation Kuala Lumpur, Malaysia. T ime o f R eturn (TOR). It is one type of cost benefit tool - PowerPoint PPT PresentationTRANSCRIPT
PIARC TC C.2.3:
Cost-Effectiveness of Safety Measures and Allocation of
Resources
State of Michigan Time of Return Safety Calculation
Larry E. TibbitsMichigan Department of Transportation
Kuala Lumpur, Malaysia
Time of Return (TOR)
• It is one type of cost benefit tool• Estimates benefits (reducing
crashes/injuries/deaths)• Output: the number of years required
to recover the safety investment• Based upon Roy Jorgensen’s report
on Highway Safety Improvement Criteria
Why Use TOR
• Federal Highway Safety Improvement Program requires that we invest safety dollars where they are needed most – where we get the greatest return
• Helps prioritize competing safety projects
• Verifies how the safety fix matches the demonstrated safety problem
Crash Data
• Crash type• Number of crashes• Property damage only + minor injury
(B, C)• Number of A injuries or number killed
(people)• Each incident is one crash
TOR Components
• Estimated costs of deaths and injuries from U.S. National Safety Council (http://www.nsc.org/)
• Estimated benefits resulting from reducing crashes
• Traffic volumes• Reduction in fatalities and A injuries
combined• Reduction in minor (no A injuries or
fatalities) crashes
TOR Components
• Q factor to blend the impact of fatalities and A injuries
• Estimated project costs• Number of years of crash data used
(3-5)• Area Factor - Urban, rural, and
between
The Calculation
• Roy Jorgensen's Formula BTOTAL = ADTa/ADTbx/ (QxR1+(PDOCOSTxR2)) • BTOTAL = Total benefit in dollars
over years used• ADTa = Average traffic volume after
the improvement (assumed)• ADTb = Average traffic volume
before the improvement
The Calculation (Continued)
• R1 = Reduction in fatalities and A-injuries combined
• R2 = Reduction in minor (no A-injuries or fatalities) crashes
• Q = [FATCOST+((I/FxINJCOST]/1+(I/F]
Thank You
http://www.michigan.gov/tands