Cost-benefit-analysis of Investments into Railway Networks with Periodically Timed Schedules

In timetable information in public transport the goal is to search for a good path between an origin and a destination. Usually, the travel time and the number of transfers will be minimized. In this paper, we consider robust timetable information; i.e., we want to identify a path that will bring the passenger to the planned destination even in the case of delays. The classic notion of strict robustness leads to the problem of identifying those transfer activities that will never break in any of the expected delay scenarios. We show that this is, in general, a strongly NP-hard problem. Therefore, we propose a conservative heuristic which identifies a large subset of these strictly robust transfer activities in polynomial time by dynamic programming and so allows us to efficiently find strictly robust paths. We also transfer the notion of light robustness, originally introduced for timetabling, to timetable information. In computational experiments we then study the price of strict and light robustness: how much longer is the travel time of a robust path than of a shortest one, according to the published schedule? Based on the 2011 train schedule within Germany, we quantitatively explore the trade-off between the level of guaranteed robustness and the increase in travel time. Strict robustness turns out to be too conservative, whereas light robustness is promising: a modest level of guarantees is achievable at a reasonable price for the majority of passengers.

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Railway Investment Appraisal Techniques

Milenković

Švadlenka

Bojović

et al. 2016

Advances in Civil and Industrial Engineering

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Railway transport involves the expenditure of resources on a combination of investment in capital items (e.g. stations, tracks, equipment) and/or in operations (e.g. subsidies). Concerning the fact that there are limited amounts of resources, it is necessary to maximize the returns obtained from the investments of those resources. The best way to do this is to ensure that the resources will be allocated on those projects that maximize their return. Railway appraisals therefore represent a way of thinking about all the costs and benefits of different railway related spending projects in a systematic manner so that, the projects can be compared and investments made in those which are going to provide the maximum possible return on the investment. This chapter provides a review of the main analytical tools that should be used in the process of railway investments appraisal. Namely, a detailed description of discounting, Net Present Value (NPV), Internal Rate of Return (IRR) and Cost Benefit Analysis (CBA) is covered by this chapter.

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Cost-benefit-analysis of Investments into Railway Networks with Periodically Timed Schedules

Cited by 3 publications

References 7 publications

Simulating Delays for Realistic Time-Table Optimization

Simulating Delays for Realistic Time-Table Optimization

The Price of Strict and Light Robustness in Timetable Information

Railway Investment Appraisal Techniques

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