Risk analysis of intelligent transportation system investments

Improvements to urban transportation in terms of user service, environmental effects and cost efficiency can be achieved, through careful planning and application of intelligent transportation systems (ITS). Since public and/or public -- private joint venture funds are used as investments in these s...

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Published inIET intelligent transport systems Vol. 3; no. 3; pp. 358 - 368
Main Author Khan, A.M.
Format Journal Article
LanguageEnglish
Published Stevenage The Institution of Engineering & Technology 01.09.2009
Subjects
Computer simulation
Data processing
Intelligent transport systems
Intelligent transportation systems
Investments
Public transportation
Risk analysis
Urban transportation
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ISSN1751-956X
1751-9578
DOI10.1049/iet-its.2009.0009

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Abstract Improvements to urban transportation in terms of user service, environmental effects and cost efficiency can be achieved, through careful planning and application of intelligent transportation systems (ITS). Since public and/or public -- private joint venture funds are used as investments in these systems and the results cannot be predicted with certainty, it is prudent to subject such investments to risk analysis. This study reports, a methodological framework for the risk analysis of ITS applications in urban transportation with focus on public transit. The role of advanced technology in shaping public transit systems at the strategic, tactical and operational levels is acknowledged. Evaluation and capital budgeting methodological improvements, particularly risk analysis, are described for ITS capital investment socio-economic analysis. Bayesian and Monte Carlo simulation approaches are illustrated for assessing risk in ITS investments, including feasibility of additional information acquisition in order to enhance knowledge of uncertain factors.
AbstractList Improvements to urban transportation in terms of user service, environmental effects and cost efficiency can be achieved, through careful planning and application of intelligent transportation systems (ITS). Since public and/or public -- private joint venture funds are used as investments in these systems and the results cannot be predicted with certainty, it is prudent to subject such investments to risk analysis. This study reports, a methodological framework for the risk analysis of ITS applications in urban transportation with focus on public transit. The role of advanced technology in shaping public transit systems at the strategic, tactical and operational levels is acknowledged. Evaluation and capital budgeting methodological improvements, particularly risk analysis, are described for ITS capital investment socio-economic analysis. Bayesian and Monte Carlo simulation approaches are illustrated for assessing risk in ITS investments, including feasibility of additional information acquisition in order to enhance knowledge of uncertain factors.
Author Khan, A.M.
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StartPage 358
SubjectTerms Computer simulation
Data processing
Intelligent transport systems
Intelligent transportation systems
Investments
Public transportation
Risk analysis
Urban transportation
Title Risk analysis of intelligent transportation system investments
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