INDOT Research Program Benefit Cost Analysis—Return on Investment for Projects Completed in FY 2016

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ISSN: 2326-6325

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McCullouch, Bob
Purdue University Press; Joint Transportation Research Program
financial analysis; return on investment; cost benefit; research benefits; quantitative benefits
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report description
The Governor’s Office requested an annual financial analysis of the INDOT Research Program to determine the return on the research investment (ROI). The current financial analysis is for research projects that completed in FY 2016. Analyses on previous year’s projects is necessary primarily due to the time it takes some project outcomes to be implemented goes into the following year, so FY 2016 analysis is done in 2017. This analysis will supplement the annual IMPACT report (qualitative and quantitative benefits) by adding a rigorous quantitative benefit cost analysis (BCA) to the Research Program. Previous financial analyses used the approach of calculating net present values of cash flows to determine a benefit cost ratio and this report uses the same approach. Additionally, an overall program rate of return (ROI) is reported and will be accumulated over time into a rolling 5-year average.