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VDOT is looking to install a safety countermeasure at an intersection that has been experiencing too many severe crashes. The following countermeasures have been proposed
VDOT is looking to install a safety countermeasure at an intersection that has been experiencing too many severe crashes. The following countermeasures have been proposed to VDOT. Assume a discount rate of 4% throughout this problem. It is estimated that for every Fatal/Injury (FI) Crash Reduced an average of $158,000 is saved in the form of a societal cost, while for every Property Damage Crash (PDO), an average of $7,400 is saved. *Negative Crashes Saved implies that this countermeasure will increase expected crashes of this type What is the total value (in societal costs] of crashes saved annually? Evaluate for each alternative, and present final answers in a table. What is the present value of the societal cost savings for each countermeasure alternative over the 30-year analysis period? For the same 30-year analysis period, fill in the following Table and rank each alternative based on its net present value, with rank 1 being the best alternative. Do not forget to account for differences in each alternative's project life. Fill in the following Table and rank each alternative based on its Benefit- Cost Ratio and rank each alternative using the incremental Benefit-Cost Ratio Method
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