Assessment of transport infrastructure projects by the use of Monte Carlo simulation: the CBA-DK model

This paper presents the Danish CBA-DK software model for assessment of transport infrastructure projects. The assessment model is based on both a deterministic calculation following the cost-benefit analysis (CBA) methodology in a Danish manual from the Ministry of Transport and on a stochastic calc...

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Bibliographic Details
Main Authors: Salling, Kim Bang, Leleur, Steen
Format: Conference Proceeding
Language:English
Subjects:
Applied computing
Applied computing > Enterprise computing
Online Access:Get full text
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Summary:This paper presents the Danish CBA-DK software model for assessment of transport infrastructure projects. The assessment model is based on both a deterministic calculation following the cost-benefit analysis (CBA) methodology in a Danish manual from the Ministry of Transport and on a stochastic calculation, where risk analysis (RA) is carried out using Monte Carlo Simulation (MCS). After a description of the deterministic and stochastic calculations emphasis is paid to the RA part of CBA-DK with considerations about which probability distributions to make use of. Furthermore, a comprehensive assessment of the set of distributions are made. Finally conclusions and a perspective are presented.
DOI:10.5555/1218112.1218391