External link: http://hdl.handle.net/10986/15572
Publication date: April 1, 2013
Capsule summary: This policy research paper investigates infrastructure investments and retrofits, providing analysis of the efficiencies and environmental impacts of infrastructure investment decisions.
Author(s): Framstad, Nils; Strand, Jon
Publisher(s): World Bank
Definition: Processes of upgrading, maintaining, and expanding transportation assets throughout their life-cycles
Digest Search Results Page: https://www.planningdigest.com/research-theme/asset-management/
Corresponding TRID/TRT Terms
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Definition: Examining the environmental impacts of transportation
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Definition: A federally funded transportation policy-making organization, comprised of local government representatives and transportation authorities
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Definition: Governmental agency focused on transportation
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Definition: Administrative subdivision of a state
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Definition: A group of regional governing bodies
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Definition: A large urban area
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Definition: A preliminary scientific or technical paper.
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Description: In order to optimize resource allocation and efficiency of a transportation network, infrastructure must be constructed with energy use in mind. As volatility changes, infrastructure costs adjust. This policy research paper promotes discussion of strategies to improve investment in infrastructure, beginning with initial investment and continuing with retrofitting, to ensure effective use of funds. The research within this report contributes to an understanding of how investment decision-makers can develop transportation infrastructure with consideration of changing future conditions.
Objectives: The objective of this research is to encourage practitioners to adopt a framework for approaching climate change uncertainty when investing in infrastructure. The research team employed an analytical model to predict the timing of retrofitting decisions based on climate change uncertainty. The model was used to consider the sources of inefficiency that lead to low funding allocated to climate change costs.
Findings: Among the various results of the model were several central findings. The study reaffirmed that planners will wait to retrofit in the face of greater uncertainty. The analysis also revealed that optimal energy and emissions intensity, as well as expected emissions damage, will change over time for established infrastructure. The findings offer context for investment decision-makers and can facilitate appropriate investments in relation to global pricing and local conditions.
Recommendations: Further research is needed in order to develop straightforward policy implications from the project’s findings, however, the results of the analysis can be used to inform investments in the face of climate change uncertainty. In order to maximize the impact of retrofitting and infrastructure investments, planners should consider appropriate pricing the timing of investments in relation to volatility.
Research Theme: Environment, Transportation Asset Management
Community Type:
Transportation Mode:
Planning Scope:
Organization Type: City, CoG, County, DOT, MPO or RPO
Planning Subject: Decision Making, Forecasting, Planning Methods