TITLE:
Development of a Methodology to Evaluate Projects Using Dynamic Traffic Assignment Models
AUTHORS:
Pankaj Maheshwari, Alexander Paz
KEYWORDS:
Performance Measures, Travel Demand Models, Dynamic Traffic Assignment, Benefit-Cost Analysis, California Benefit-Cost Models
JOURNAL NAME:
Open Journal of Applied Sciences,
Vol.5 No.2,
February
12,
2015
ABSTRACT: The identification and selection of performance measures play an important role in any decision making process. Additionally, millions of dollars are spent on appropriate planning and identification of prospective projects for improvements. As a result, current practitioners spend a lot of time and money in prioritizing their limited resources. This research proposes two tasks: 1) estimation of performance measures using a simulation based on dynamic traffic assignment model, and 2) development of a methodology to evaluate multiple projects based on benefit-cost analysis. The model, DynusT, is used for the Las Vegas roadway network during the morning peak time period. A comparative analysis of the results from proposed methodology with existing California Benefit-Cost (Cal-B/C) models is presented. The results indicate that the new methodology provides an accurate benefit-cost ratio of the projects. In addition, it signifies that the existing Cal-B/C models underestimate the benefits associated with the prospective project improvements. The major contribution of this research is the simultaneous estimation of the performance measures and development of a methodology to evaluate multiple projects. This is helpful to decision makers to rank and prioritize future projects in a cost-effective manner. Planning and operational policies for the transportation systems can be developed based on the gained insights from this study.