A Data Driven Approach to State Transportation Investment Decisions: a Transportation Project Investment and Evaluation Resource (T-Pier)

The primary objective of this research is to provide a data-driven resource that planners and engineers, policymakers, service providers and researchers can use to determine how investments should be made in the future by balancing available resources to maximize return on investment (ROI). This is achieved in three ways: (1) development of a multi-criteria investment performance tool to measure the economic contributions of performance measures by simulating travel behavior in response to each potential project, (2) development of a resource allocation toolkit to prioritize all potential projects to optimally distribute funds subject to budget and other constraints and (3) inclusion of sophisticated financial instrumentation to measure long-term ROI. The proposed research will deliver a comprehensive decision support system in one toolbox called the Transportation Project Investment and Evaluation Resource (T-PIER). T-PIER will be equipped to examine the performance of each objective in small and medium scale transportation networks with multiple interacting modes such as driving, biking, and walking. The proposed tool will assist planners and engineers determine the optimal allocation of projects for obtaining maximum benefits when resources are limited and scarce. The proposed T-PIER framework combines both a travel demand and resource allocation model to interactively communicate and obtain an optimal set of projects to maximize ROI.

• Record URL:
  http://www.nctspm.gatech.edu/pi/data-driven-approach-state-transportation-investment-decisions-transportation-project-investment

Language

• English

Project

• Status: Completed
• Funding: $150000.00
• Contract Numbers:

  DTRT12GUTC12

  NCTSPM 2013-015

• Sponsor Organizations:

  Research and Innovative Technology Administration

  University Transportation Centers Program
  Washington, DC  United States  20590

  Georgia Department of Transportation

  One Georgia Center
  600 West Peachtree Street, NW
  Atlanta, GA  United States  30308
• Performing Organizations:

  Georgia Institute of Technology, Atlanta

  School of Civil and Environmental Engineering
  Atlanta, GA  United States  30332
• Principal Investigators:

  Welch, Timothy

  Ross, Catherine

• Start Date: 20131101
• Expected Completion Date: 0
• Actual Completion Date: 20150701
• Source Data: RiP Project 36258

Subject/Index Terms

• TRT Terms: Budgeting; Data collection; Decision making; Investments; Policy making; Resource allocation; Return on investment; Travel behavior
• Uncontrolled Terms: Transportation projects
• Subject Areas: Data and Information Technology; Finance; Operations and Traffic Management; Planning and Forecasting; Transportation (General);

Filing Info

• Accession Number: 01640911
• Record Type: Research project
• Source Agency: National Center for Transportation Systems Productivity and Management
• Contract Numbers: DTRT12GUTC12, NCTSPM 2013-015
• Files: UTC, RIP
• Created Date: Jul 13 2017 1:01AM