In a project of this magnitude, it’s critical to determine that the economics behind the project are sound, and that citizens receive the highest possible benefit for the dollars being spent.

Factors within the benefit/cost analysis
The Eastern Corridor PE/EIS project work includes assessment of financial feasibility (based on conceptual engineering findings and performance evaluations), framing of preliminary impact scenarios, and assessment of key performance measures. The work will include identification of priority projects and feasible alternatives to be carried forward into the next phase of work and includes benefit/cost analysis of selected projects within each mode group, with this work structured to aid in identification of priorities and financial implementation strategies.

The objective of the benefit/cost analysis is to provide an evaluation of costs and projected economic benefits for modes and selected projects.

Work still to be performed
The benefit/cost analysis will be a coordinated effort that addresses all modes, and will incorporate basic travel efficiency measures as well as community measures. The benefit/cost work will include evaluation of measures established in similar recent analyses conducted for OKI’s I-71 corridor, as well as other factors appropriate for the Eastern Corridor. In general, the scope for this component of the PE/EIS work is to provide compatible expansion on the benefit/cost analysis work conducted for the I-71 corridor. It is recognized, however, that the analysis framework and measures may, by necessity, vary for the Eastern Corridor. The benefit/cost analysis will incorporate output from future work based on the travel demand model (TDM) effort. Depending on the array and configuration of alternatives forwarded for detailed evaluation, further refinement of the benefit/cost analysis may be required in the next phase of work. The benefit/cost analysis will include probability-based risk analysis, and include consideration of mobility benefits for transit-dependent populations. The benefit/cost analysis will have a regional perspective, and will incorporate external group oversight and peer review reflective of that regional perspective.