Decision making, Economic factors, Highways, Infrastructure, Investments, Policy, Risk assessment, Social factors, Sustainable transportation
The concept of strategic planning for transportation infrastructure investment has been expanding to include a response to issues of sustainability and resilience. Although the question of resilience from impacts resulting from large-scale disruptions such as natural disasters or economic changes has seen a growing library of research and documentation, major questions remain about how to incorporate these concepts into a transportation plan with sufficient analytical backup presented and in a format easily understood by decision-makers. The increasing competition for funds in a context of decreasing resources renders investment decisions even more critical. From the perspective of transportation systems in general and highway components in particular, this is a concern that is escalating in importance as questions of effective infrastructure investment strategies proliferate with consequent effects to a state’s or region’s economy. The process of analyzing conflicting demands on long-term strategic investment planning must address three fundamental areas: the economic, social, and environmental values or objectives of a state or region or locality.