||Prioritization Methods for Multimodal Investments, Including Return on Investment
This project will develop and test methods for setting priorities for multimodal investments with multiple criteria, with special attention to quantifying the return on investment. In addition, the effort will provide on-call services to the Commonwealth’s Multimodal Transportation Planning Office.
For example, three different projects might include (1) constructing a new multimodal facility, (2) expanding existing transit service and (3) overhauling traveler information services. For each project, a return-on-investment analysis may be determined, based on each project’s ability to improve economic development, reduce congestion, improve safety and/or various other goals. Staff of the Center for Risk Management at U.Va., working with the Commonwealth’s Multimodal Transportation Planning Office and the Multimodal Advisory Committee, will implement this method.