Road Accident Cost Prediction Model Using Systems Dynamics Approach

Partheeban, Pachaivannan; Arunbabu, Elangovan; Hemamalini, Ranganathan Rani

doi:10.3846/1648-4142.2008.23.59-66

Cited by 17 publications

(9 citation statements)

References 1 publication

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“…These costs refer to the economic value of damages (Mean = 4.10) caused by vehicle crashes which includes internal costs-those incurred due to damages and risks to the individual travelling in a particular vehicle; and external costs-which are uncompensated damages and risks imposed by an individual on other people (Partheeban et al 2008). Road accident-internal costs (Mean = 4.23) were ranked as the most important because safety is becoming a main agenda.…”

Section: Social Cost Componentsmentioning

confidence: 99%

Managing cost implications for highway infrastructure sustainability

Goh

Yang

2014

Int. J. Environ. Sci. Technol.

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Highway construction works have significant bearings on all aspects of sustainability. With the increasing level of public awareness and government regulatory measures, the construction industry is experiencing a cultural shift to recognise, embrace and pursue sustainability. Stakeholders are now keen to identify sustainable alternatives and the financial implications of including them on a life cycle basis. They need tools that can aid the evaluation of investment options. To date, however, there have not been many financial assessments on the sustainability aspects of highway projects. This is because the existing life cycle costing analysis models tend to focus on economic issues alone and are not able to deal with sustainability factors. This paper provides insights into the current practice of life cycle cost analysis, and the identification and quantification of sustainability-related cost components in highway projects through literature review, questionnaire surveys and semi-structured interviews. The results can serve as a platform for highway project stakeholders to develop practical tools to evaluate highway investment decisions and reach an optimum balance between financial viability and sustainability deliverables.

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Section: Social Cost Componentsmentioning

confidence: 99%

Managing cost implications for highway infrastructure sustainability

Goh

Yang

2014

Int. J. Environ. Sci. Technol.

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“…A study by Reddy, M [7]. conducted in Chandigarh in which cost benefit analysis consists of Human capital method, Health and labour questionnaire (HLQ) and Work productivity and activity questionnaire (WPAI) were used to calculate the economic loss due to road traffic accidents.…”

Section: Ankit Singh Gulab Singh Buramentioning

confidence: 99%

Estimation of Economic Loss Due to Road Traffic Injuries using Human Capital Method

Singh,

Bura

2020

IJEAT

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In the present scenario, Road traffic accidents (RTAs) become an alarming problem over the globe as they leads to approx. 2.6% total loss of country’s gross domestic product (GDP). It is considered as one of the leading cause of mortalities, disabilities and morbidities due to road accidents in developing countries like India. To enable governments to take policy decisions on road safety, it is necessary that good research is undertaken to estimate the cost of accidents. This study will help government to take decisions while planning investment on road safety, facilities on roads, awareness signs and board etc. Meanwhile, estimation and evaluation of economic loss due to RTAs will help governments to frame policy and take important decisions within limited economic resources. Apart from humanitarian losses, there is increase in economic loss due to RTAs because most of the victims involved in accidents are from productive age groups of a society. The main objective of this study is to estimate the cost components of road accidents in two major districts namely Haridwar and Dehradun, Uttarakhand, India. The methodologies for such studies generally vary according to traffic pattern, number of accidents, black spots, population etc. This study makes use of an empirical approach as Cost benefit Analysis consist of Human Capital Approach for cost estimation which provides a vast understanding of the problem for hilly scenario. Secondary data were taken from Transport Research Wing, Government of Uttarakhand for all road accidents from 2016 to 2018 and primary data were collected from randomly selected victims through structured questionnaire and informed consent.

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“…To build an accident model in this case, various factors causing the road accident and costs should be identified. In the study by Partheeban et al (2008), only road accidents caused by buses were considered and the developed model enables predicting the severity levels of future road accidents and their costs. The model predicted the accidents up to 2020 for every 5-year interval, so the outcome of the study is highly useful for the planners, administrators and police to make their decisions effectively for road safety investment projects.…”

Section: The Review Of Methodologies For Calculation Of the Costsmentioning

confidence: 99%

“…The evaluation of fatal accident costs crucially depends on the availability of an estimate for the economic value of a statistical life. Partheeban et al (2008) developed a model for road accident through the calculation system's dynamics approach. To build an accident model in this case, various factors causing the road accident and costs should be identified.…”

Section: The Review Of Methodologies For Calculation Of the Costsmentioning

confidence: 99%

The Methodology for Calculation of Road Accident Costs

Pukalskas

Pečeliūnas

Sadauskas³

et al. 2015

Transport

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Abstract. The presented methodology for accounting the costs caused by road accidents is based on the fact that a person who died or was injured in a traffic accident will not contribute to the economic wealfare of the country anymore or his/her contribution will reduce. Broken vehicles, damaged cargoes or defected road constructions cause huge losses to the state. A financial assessment of material losses caused by road accidents enables providing a feasibility report in respect of efficiency of newly introduced traffic safety measures. The aim of the presented methodology is an establishment of the road accident costs that would conform to the todays economic level of Lithuania. The developed methodology for accounting road accident costs will enable more precise assessment of a necessity, perspectives and priorities of investment projects in the transport system as well as an accomplishment of funding allocation tasks.

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Road Accident Cost Prediction Model Using Systems Dynamics Approach

Cited by 17 publications

References 1 publication

Managing cost implications for highway infrastructure sustainability

Managing cost implications for highway infrastructure sustainability

Estimation of Economic Loss Due to Road Traffic Injuries using Human Capital Method

The Methodology for Calculation of Road Accident Costs

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