Efficient highway asset management that provides
tools to facilitate a more organized, logical
approach to achieve truly optimal investment
decisions becomes increasingly important. Highway
project evaluation and project selection are key
steps in the investment decision-making process.
This text introduces a generalized methodology for
highway project evaluation that offers flexibility
for the decision-maker to consider any combination
of input factors such as project costs, traffic
demand, and discount rates under certainty, risk or
uncertainty in the estimation of project-level...

Given the ever-increasing personal and commercial travel demands vis-a-vis limited resources, changes in public expectations, and extraordinary advances in technology, the task of providing transportation services becomes more critical than ever. Most recently, transportation agencies throughout the world are increasingly adopting a strategic approach, referred to as asset management, to make investment decisions for highway system preservation, expansion, and operation, based on comprehensive information and in a holistic and proactive way to achieve most cost-effective investment decisions....