A significant amount of work has been done in recent years in advancing economic analysis techniques for use in safety programs. As expected, the level of sophistication of the techniques used and the applications implemented varies by country. Those responsible for safety strive to make optimal safety investments with use of economic analysis techniques. In an economic appraisal, project costs are addressed in monetary terms. Two types of economic appraisal --cost-effectiveness analysis and cost-benefit analysis (also called benefit-cost analysis in certain countries) addressed project benefits in different ways. An overview of these two methods is highlighted in this report. Also, included are valuations of accident costs, previous assessments of certain road safety measures, and a very brief discussion of practices for resource allocation. (Author/publisher) This report is available from the internet site of the World Road Association (PIARC): http://www.piarc.org
Samenvatting