Hindmarsh Drive Intersection Upgrades – Tuggeranong Parkway to Eggleston Crescent
AECOM
Assumption
40
Value
Maintenance costs Maintenance cost related to maintenance of concrete and asphalt Crash reductions
10% of capital cost over 20 years
Refer Section 7.1.4
Refer Appendix A for crash costs
Source
AECOM
7.2.4.2
Results
The results of the economic appraisal is summarised in Table 2 and Table 33. Note that this appraisal only includes quantifiable benefits and does not account for additional benefits due to a local redistribution of traffic that will occur with new signals at Launceston Street and Eggleston Crescent. A discussion of other nonquantitative impacts is included in Chapter 9.
Table 33
Incremental costs and benefits
Option 1A ($000)
Option 1B ($000)
Option 1C ($000)
Option 1C+2A ($000)
Option 1C+2A+3A ($000)
Capital cost
367
388
408
694
980
Maintenance Cost
18
18
18
28
38
Total Cost
385
406
299
Journey time savings
(2,659)
(385)
1,245
(3,111)
(4,197)
Vehicle operating cost savings
(86)
(131)
(175)
2,850
2,802
Accident cost savings
5,329
5,359
5,359
5,844
6,232
NPV ($000)
2,199
4,437
6,002
4,861
3,819
6.7
11.9
15.1
7.7
4.8
Item
BCR Note: Based on 7% discount rate
The overall outcome shows that Option 1C is preferable to Option 1A or 1B at the Eastern Ramp intersection. All options other than 1B and 1C show relatively high travel time costs, adversely affecting the potential economic outcome. The combination options tested showed that they could generate a positive economic return, largely driven by crash savings, but also some savings in bus operating costs by enabling rerouting of routes 21 and 22. Increased delays to Hindmarsh Drive traffic as a result of new traffic signals offsets the potential crash savings.
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