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- W644100299 abstract "Highway Economic Requirement System – State Version (HERS-ST) is a highway investment performance computer model which determines the impact of alternative highway investment levels and program structures on highway conditions, performance, and agency, user, and external costs. HERS-ST develops an economically optimal program of investment based on benefit-cost analysis. Assuming that future savings are possible if agencies follow the optimal program recommended by the HERS-ST, this paper estimates the value of these improvements. The research analyzes the benefits derived from HERS-ST implementation using HERS-ST itself. The analysis compares a program based on a HERS-ST strategy to that based on a worst first strategy using Highway Performance Monitoring System data from the State of New Mexico. The analysis estimates that average pavement condition based on HERS-ST is 0.30 points, on a scale of zero to five higher than that based on a worst first strategy over 10 years. Also, HERS-ST identifies benefits of $2.0 billion over the benefit-cost analysis period and benefits of $359 million over 10 years. If the cost for HERS-ST implementation is lower than those benefits over the periods, investment in HERS-ST implementation can be justified. Through this analysis, the benefits of HERS-ST implementation are distinguished in terms of efficacy, efficiency and effectiveness (3Es). The paper also briefly reviews these concepts and methods for evaluation of the 3Es. This research demonstrates an assessment process of the possible benefits of HERS-ST implementation, which will reinforce the value of using HERS-ST in agencies to support asset management." @default.
- W644100299 created "2016-06-24" @default.
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- W644100299 date "2008-01-01" @default.
- W644100299 modified "2023-09-26" @default.
- W644100299 title "Demonstrating the Benefits of Highway Economic Requirement System – State Version: A Case Study" @default.
- W644100299 hasPublicationYear "2008" @default.
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