ECONOMIC EVALUATION OF HIGHWAY SAFETY IMPROVEMENT PROGRAMS

Abstract

This paper shows continuing assessment on economic evaluation of Highway Safety Improvement (HSI) programs of 8 study areas from the completed HSI projects since 2017 by the Department of Highways (DOH). The selected projects consist of 4 program types which are 1. Highway Improvement Program, 2. Black Spots and Hazardous Location Improvement Program, 3. Highway Safety Enhancement at Large Intersection Program, and 4. Safety Improvement of Directional Median Program. Each program was included of 2 case studies. This study started from reviewing the past studies of economic evaluation of HIS and updating accident data of the selected highway sections prior economic analysis. The benefit cost ratio were between 2.66 - 68.95 times. The results showed that all HIS case studies were still feasible while the highest Economical Interest Rate of Return (EIRR) was the Safety Improvement of Directional Median Program at HW.12 Sec.502 at KM. 319+300 to 321+418 in Phitsanulok Province. The followers were the Highway Improvement Program at HW.205 Sec.402 at KM. 216+300 to 217+172 in Nakhon Ratchasima Province, and Highway Safety Enhancement at Large Intersection Program at HW.33 Sec.501 at KM. 114+965 in Nakhon Nayok Province, with EIRR of 534.08%, 73.61% and 63.54%, respectively.