Highway improvement project selection by the joint consideration of cost-benefit and risk criteria

Document Type

Article

Publication Date

1-1-2013

Abstract

Since highway improvement project selection requires screening thousands of road segments with respect to crashes for further analysis and final project selection, we provide a two-step project selection methodology and describe an application case to demonstrate its advantages. In the first step of the proposed methodology, we will use odds against observing a given crash count, injury count, run-off road count and so on as measures of risk and a multi-criteria pre-selection technique with the objective to decrease the number of prospective improvement locations. In the second step, the final project selection is accomplished based on a composite efficiency measure of estimated cost, benefit and hazard assessment (odds) under budget constraints. To demonstrate the two-step methodology, we will analyze 4 years of accident data at 23 000 locations where the final projects are selected out of several hundred of potential locations. © 2013 Operational Research Society Ltd. All rights reserved.

Publication Source (Journal or Book title)

Journal of the Operational Research Society

First Page

313

Last Page

325

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