This
project identifies metrics for measuring the benefit of rail infrastructure
projects for key stakeholders. It is important that stakeholders with an
interest in community economic development play an active role in the development of the rail network. Many communities have developed goals and visions to establish an
economic development program, but they often fail to achieve their goals due to
uncertainties during the project selection and planning process. Communities
often select a project from a vast pool of ideas with only limited capital
available for investment. Selecting the right project at the right time becomes imperative for economic and community development. This process is
significantly hampered by limited methods for quantifying the economic benefit
to key stakeholders. Four methodologies are
used in this project to determine the most useful tools for quantifying benefit
given the availability of data, relevant expertise, and other information.
Title: Quantifying Economic Benefits for Rail Infrastructure Projects
Published: December 2014
Report number: cmr15-004
Project number: TR201410
Author(s): Suzanna Long, Ruwen Qin, John Betak, Akhilesh Ojha, and John Myers
Performing organization: Missouri University of Science and Technology, Department of Engineering Management and Systems Engineering