Model-Based Analytics and Processes for Transportation Investment Alternatives Analyses: From Least Cost Planning to Multi Criterion Evaluation

Many public and private organizations that make decisions regarding whether and how to invest in transportation assets or programs do so via a structured decision-support process. This talk will address the technical aspects of the family of such processes that use travel demand model outputs—and other sources of quantified performance data—as inputs to analytic tools including benefit cost analysis (BCA) and multi criterion evaluation. Example applications of this framework have included tolling and pricing studies, capital investment alternatives analyses, and programmatic evaluations. Example processes include "Least Cost Planning" frameworks borrowed originally from the power generation industry.The talk will also address some of the "process" requirements necessary for successful deployment of the analytics for actual decision applications, and will include an open discussion of potential criteria for both technical and process success in the Portland metropolitan area. Come prepared with your thoughts on questions such as: are these techniques valuable for regional stakeholders? What technical features are particularly important to this region? What outreach, education, and information should regional stakeholders be given to best understand and participate in this type of decision-support process?