DOI

10.5703/1288284317723

Abstract

To demonstrate the value of research and its implementation, the Governor’s Office initially requested an annual financial analysis of the INDOT Research Program to determine the return on the research investment (ROI). The INDOT Research & Development (R&D) has continued to publish an annual Return on Investment report. The current financial analysis is for research projects that completed in FY 2022. Analyses on previous year’s projects is necessary primarily due to the time it takes some project outcomes to be implemented and verifiable data generated, extending into the following year. Therefore, the FY 2023 analysis is completed research projects in calendar 2022. The ROI analysis will supplement the annual IMPACT report by adding a more 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, a seven-year period.

Report Number

FHWA/IN/JTRP-2023/29

Keywords

benefit cost analysis, return on investment, quantitative, qualitative, research, benefits

SPR Number

4225

Performing Organization

Joint Transportation Research Program

Publisher Place

West Lafayette, Indiana

Date of this Version

2023

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