Economic analysis is a critical component of a comprehensive project or program evaluation methodology such as Transportation Performance Management and Asset Management. It allows highway agencies to identify, quantify, and value the economic benefits and costs of highway projects and programs over a multi-year timeframe. Highway agencies are then better able to target scarce resources to their best uses in terms of maximizing benefits to the public and to be more accountable for those decisions.
FHWA is promoting the application of economic analysis methods to highway decision-making by developing, collecting, and distributing relevant information and tools to the transportation community. The office is publishing a number of documents, including the Economic Analysis Primer, various fact sheets on economic analysis topics, and case studies of successful State and local applications of economic analysis.
Roadway Economic and Investment Analysis 101: FHWA is now offering to State and local governments a one-day workshop on the application of economic analysis to highway decision-making. This free workshop covers a broad range of economic subjects, including inflation, life-cycle cost analysis, benefit-cost analysis, traffic forecasts, and risk analysis. The workshop does not require prior training in economics.
STEAM Technical Support: Technical support to the Surface Transportation Efficiency Analysis Model (STEAM). Visit the STEAM site for more information on STEAM, including the new "Ask the STEAM Expert" feature, Frequently Asked Questions, and STEAM User's Group Registration.