Analysis of the Worthiness from Investing in the Program Reporting Results of and Investigating Traffic Light Violations Based on the Principle of Economic Engineering

บทคัดย่อ

This article was aimed at analyzing the worthiness from investing in the program to report the results of and investigate traffic light violations by comparing monetary and non-monetary data. The data was collected by interviewing a start-up company and the Office of Khon Kaen Provincial Police. An analysis was done on the initial cost and payback using the engineering economics tools, i.e., Equivalent Uniform Annual Worth (EUAW) and Benefit Cost Ratio (BCR) values; and the means in evaluating losses from road accidents. The study sites included 3 intersections in Khon Kaen urban area. The study results showed EUAW of 219,583.80 Baht – the value higher than 0 – indicating the worthiness of the Project. BCR is 2.2, which is higher than 1, showing also the Project worthiness. The loss value from road accidents was analyzed, and it was shown that the Project could reduce 12 cases of and 8 injured people from accidents per year. The yearly loss value from road accidents was 3,597,352 Baht (for major injury cases) or 458,648 Baht per year (for minor injury cases). The break-even of the Project was achieved within the first year after installation. In order to evaluate social benefit, a comparative study was carried out, and it indicated that the Project could reduce losses and create higher payback than the invested money. This research is thus proposed as a means underling policy decision related to traffic safety and development of start-ups of sustainable social technologies.