A cost-performance tradeoff methodology for ITS technology deployment

While extensive ITS technology is being deployed in the field it remains difficult to perform formal evaluation of the benefits obtained from the implementation of the technology due to the lack of available evaluation tools. We present a methodology that uses a simulation-optimization approach to develop a performance versus cost tradeoff analysis curve. In particular, we are evaluating ITS sensor and control technologies such as cameras, ramp metering, loop detectors, etc. Employing CORSIM, a traffic simulation tool, we determine the “optimal” ITS deployment and implementation strategy for a particular budget using a pseudo random search technique. This analysis is repeated over a range of budgets to determine the nature of the cost-performance tradeoff curve. We demonstrate this approach with a six-mile section of interstate in southeastern Virginia