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Title: Pairwise Comparison Method for Evaluation of its Investments
Accession Number: 01024661
Record Type: Component
Availability: Transportation Research Board Business Office 500 Fifth Street, NW Abstract: This paper addresses the issue of measuring the benefits and effectiveness of Intelligent Transportation System (ITS) devices. It demonstrates a technique for comparison of the benefits of specific ITS systems relative to one another and relative to the stated objective of a particular device. It also shows that by comparing the benefits, and costs of ITS to capacity projects each can be deployed in a more efficient and effective manner. In order to determine the relative benefits and effectiveness of the individual ITS devices, the method of pairwise comparison (PWC) was used. This method was also used to evaluate five ITS Goals for Baton Rouge against each other so that the Goals could be prioritized and ranked. Once the Goals were ranked and prioritized five ITS devices were evaluated in a pair-wise fashion relative to each goal. In this way, the weight or priority of each device was allowed to vary according to the specific Goal under consideration. The PWC method is considered as a project evaluation process. Like other project evaluation processes it starts by identifying project goals and objectives. It further identifies criteria and measures of effectiveness. The criteria measures demonstrate the performance of the system under study for different scenarios. PWC needs no explicit assumptions of the criteria's weights. The method generates the weights mathematically, and adds to the objectivity of the technique. PWC is used for ranking alternatives and criteria. It requires the judgement of experienced people. Expert judgement was obtained from a panel of judges. In this case a panel of experts was formed from professionals engaged in traffic engineering or transportation planning. Alternatives were listed against each other in a matrix. Generally, since the values of comparison are derived from a group of experts providing their judgement for evaluation, and not all judgements are transitive and consistent, there must be an approach to measure this degree of inconsistency in judgement. This measure is referred to as an Inconsistency Index. The Inconsistency Index is compared to a statistical tabular value called a Random Index (R.I.). The degree of inconsistency is derived from the value of the ratio of the Inconsistency Index to the Random Index. The closer the ratio of I.I./R.I. is to R.I. the less consistency there is in judgement. The results of this research project demonstrate the high degree of consistency produced by the panel of judges. This paper presents the results of a pair-wise comparison of proposed ITS investments in Baton Rouge. Through the application of this procedure the author was able to demonstrate that ITS devices can be prioritized on an overall basis, against each other, and each specific ITS goal. This paper also includes a discussion of the basic theory of the pair-wise comparison process, the Inconsistency Index, and its application for comparison of relative ITS benefits.
Monograph Title: Monograph Accession #: 01024684
Language: English
Corporate Authors: Transportation Research Board ADB50: Committee on Transportation Planning Applications Authors: Dugas, Huey PEditors: Bennett, GeorgiaDonnelly, RickPagination: 10p
Publication Date: 2004-3
Conference:
Ninth TRB Conference on the Application of Transportation Planning Methods
Location:
Baton Rouge Louisiana, United States Media Type: CD-ROM
Features: References
(14)
; Tables
(11)
TRT Terms: Uncontrolled Terms: Geographic Terms: Subject Areas: Data and Information Technology; Finance; Highways; Operations and Traffic Management; Planning and Forecasting; Public Transportation; I10: Economics and Administration; I72: Traffic and Transport Planning
Files: TRIS, TRB
Created Date: May 8 2006 2:44PM
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