Value of Travel Time Reliability and Cost-Benefit Analysis

International Meeting Jointly organised by the Strategic Highway Research Program (SHRP2) of the Transportation Research Board and the Joint Transport Research Centre 15-16 October 2009, Vancouver, Canada

The meeting was designed to bring together researchers and decision makers to examine recent research results and country experiences on reliability measurement, valuation, and in particular, to explore successful practices in integrating reliability into cost-benefit analysis. It aimed at identifying methodologies for incorporating reliability into project evaluation, and explored the pitfalls that need to be avoided.

Final Programme

Plenary Session.  Policy Relevance of Reliability

Application of Freight Flow Measurements Louis-Paul TARDIFF, Transport Canada Background and Meeting Objectives Jari KAUPPILA, OECD-ITF Transport Research Centre The Reliability Focus Area Bill HYMAN, SHRP2 What's the Value of Reliability? Mark HALLENBECK, Washington State Transportation Center

Session 1. Applying Reliability in Cost-Benefit Analysis

Role of reliability in policy, system planning and investment decisions Jan VAN DER WAARD, Rijkswaterstaat, Netherlands The UK approach to reliability and CBA Pamela CHIANG, Department for Transport, United Kingdom Reliability and cost-benefit in the ITS Deployment Analysis System Richard MARGIOTTA, Cambridge Systematics, USA Reliability and cost-benefit analysis in Sweden Jonas ELIASSON, Centre for Transport Studies, Sweden

Session 2. Value of Reliability

What is the value of reliability? Mogens FOSGERAU, Technical University of Denmark, DTU Transport, Denmark Preliminary results of the Norwegian valuation study Hanne SAMSTAD, Institute of Transport Economics, Norway An option theoretic approach to imputing the value of reliability Randall POZDENA, ECONorthwest, USA Preliminary results of the Dutch valuation study Pim WARFFEMIUS, Institute for Transport Policy Analysis, Netherlands

Session 3. Modeling Impacts of Policy Initiatives

Challenges and accomplishments of modeling impacts of policy initiatives John BATES, John Bates Services, United Kingdom Modeling lateness Joel FRANKLIN, Royal Institute of Technology, Sweden Reliability in policy-sensitive transport models, insights from SHRP2 Peter VOVSHA, PB Americas

Session 4. Country Updates

Reliability and cost-benefit analysis in Australia and New Zealand Michael TAYLOR, University of South Australia The expected lateness approach does not hold for small risk levels Maria BÖRJESSON, Royal Institute of Technology, Sweden Cost-benefit analysis applied to reliability policies in France Xavier DELACHE, Ministry of Transport, France Reliability valuation in Japan Daisuke FUKUDA, Tokyo Institute of Technology, Japan

Concluding Panel

Preliminary Observations Jan VAN DER WAARD, Rijkswaterstaat, Netherlands Incorporating Reliability Performance Measures in Evaluations Tools: Physics, Psychology and Economics C. MAHMASSANI, Northwestern University Transportation Center Influence of Institutional Architectures on Addressing the Value of Reliability and Enhancing CBA Bill HYMAN, SHRP2

Related Documents

Improving Reliability on Surface Transport Networks. Summary Document OECD-ITF Transport Research Centre Predicting Travel Time Variability for Cost-Benefit Analysis Stefanie PEER, Carl KOOPMANS, Erik VERHOEF, Department for Spatial Economics, VU University, Amsterdam, Netherlands