Evaluating Alternative Operations Strategies To Improve Travel Time Reliability
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Evaluating Alternative Operations Strategies to Improve Travel Time Reliability
Author: National Academies of Sciences, Engineering, and Medicine (U.S.)
language: en
Publisher: Transportation Research Board
Release Date: 2022-03-29
This report from the second Strategic Highway Research Program (SHRP 2), which is administered by the Transportation Research Board of the National Academies, sets out requirements for travel time reliability within a performance-based planning process. The research includes an effort to determine the economic value of improvements in travel time reliability by applying options theory from the financial sector. The report includes two succinct tables that describe requirements for person and freight trips for reliable transport, as well as a forecast of the year 2030 under alternative assumptions that may influence travel time reliability.
Evaluating Alternative Operations Strategies to Improve Travel Time Reliability
The research included an effort to determine the economic value of improvements in travel time reliability by applying options theory from the financial sector. This method is predicated on determining the certainty equivalent of the variability of speed. This innovative approach, briefly summarized in the body of the report and described in an appendix, deserves further exploration despite the lack of consensus from experts about its validity. A prominent part of the report presents a forecast of the year 2030 under alternative assumptions that may influence travel time reliability. The researchers set out three alternative outcomes--optimistic, mediocre, and pessimistic--regarding climate change, economics, and demographics. In addition, they examined a range of technological developments that might affect reliability. To paint a picture of the future, they prepared a concept of operations for the year 2030.
Guide to Integrating Business Processes to Improve Travel Time Reliability
TRB’s second Strategic Highway Research Program (SHRP 2) Report S2-L01-RR-2: Guide to Integrating Business Processes to Improve Travel Time Reliability explores various ways that transportation agencies could reengineer their day-to-day business practices to enhance traffic operations, address nonrecurring traffic congestion, and improve the reliability of travel times delivered to roadway system users.