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The National Academies

TCRP E-12 [Completed]

Guidance for Calculating the Return on Investment in Transit State of Good Repair

  Project Data
Funds: $300,000
Research Agency: Spypond Partners
Principal Investigator: William Robert
Effective Date: 10/21/2016
Completion Date: 12/20/2018

BACKGROUND

Maintaining transit capital assets in a state of good repair (SGR) is critical for transit agencies. Mature transit agencies with well-established systems are often challenged to restore existing capital assets to SGR, while for newer transit systems the challenge is to maintain assets in SGR to maximize system performance and minimize maintenance and operating costs.
Recent research has helped document the impacts and implications of SGR investments, relating these to improved asset performance. Other research has helped develop and refine the tools and approaches for predicting economic benefits of investments in transit, though mainly for investments in new or expanded transit systems rather than achieving SGR. Thus, transit agencies lack guidance, tools, and methods for calculating quantifiable benefits of SGR investments and expressing these in terms of return on investment (ROI) or other measures. Addressing this gap would help transit agencies better prioritize investments and better communicate the full range of benefits of investments in SGR. These benefits affect travelers of all modes, the local and regional economy, the environment, and social equity. Given that funds for preserving and replacing existing transit assets are tightly constrained, guidance and methods that can help best direct investments have great potential payoff.

OBJECTIVE

The objective of this research is to develop guidance for calculating a return on investment (ROI) for rehabilitating or replacing existing transit assets to help achieve state of good repair (SGR). This guidance should help transit agencies identify the full impacts of SGR investments versus other investment options. The guidance should be useful to transit agencies of different sizes and modes.
 
STATUS:  The research  is complete and the research will be published in 2019. 

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