Cost and benefit analysis for optimized signal timing : case study New Jersey Route 23.

This study uses a segment of Route 23 in New Jersey as a case study in developing a practical method to calculate costs and benefits of the implementation of optimal signal timing plans. Analysis of re-optimization of the signal time under different rates of traffic growth is conducted. The cost and benefit analysis aims to define and formulate all costs and benefit components associated with the implementation of optimal signal timing.The costs considered in this study are classified into three major components: engineering services, hardware and administrative. The benefits are also classified into three components: road user time, fuel consumptionand vehicle emissions. Results show that reduced user cost is the major benefit from retiming signals on the studied route. The results showed that the benefits of implementing the optimal signal timing were $1,747,049 per year and the resulting yearly benefit/cost ratio was 24 to 1.