Citation

Andreassen D. Traffic Eng. Control 1992; 33(5): 318-321.

Affiliation

Australian Road Research Board

Copyright

(Copyright © 1992, Hemming Group)

DOI

unavailable

PMID

unavailable

Abstract

This paper's intention is to bring to the practitioner the ideas and concepts involved in the derivation of 'standardised' costs and the application of standardised costs per accident for accident type groups. The use of the Accident Type Method is compared with the Accident Severity Technique. The latter technique is deemed to be flawed as it mixes standardised costs with ex-post outcomes rather than ex-post costs with the ex-post outcomes or standardised costs with standardised outcomes. A worked example for the installation of traffic signals shows that the Accident Type Method has a Benefit/Cost ratio that is 10 to 1 compared with 1.3 to 1 for the Accident Severity Method. The Accident Type Method produces a Net Present Worth that is 28 times that for the Accident Severity Technique. The Accident Type Method is proposed for adoption in project planning and evaluation.