Safety Analysis (both Segments and Intersections) makes it easy to conduct an economic appraisal of a series of Safety Analysis projects to determine the most efficient expenditure of safety resources. Users can utilize the Economic Appraisal feature of Safety Analysis to identify which projects can be undertaken for the greatest return on a given budget. Users can simply select the projects they would like to choose from, enter a budget amount, and Safety Analysis will compile a list of recommended projects that will use the identified budget for the greatest return.
To generate an Economic Appraisal in the Safety Analysis application, follow the steps outlined below (Note - this process is the same for both the Safety Analysis Segments and Safety Analysis Intersections applications):
The Economic Appraisal feature of Safety Analysis utilizes previously generated and saved Safety Analyses. In order to utilize the Economic Appraisal feature, you must have a number of saved Economic Analyses to evaluate. If there are no saved Safety Analysis projects for your organization, you will not be able to generate an Economic Appraisal.
1. Open Safety Analysis and verify that the projects you would like to evaluate with the Economic Appraisal are saved, and up-to-date.
2. Click on the + New Economic Appraisal button in the top right corner of the screen (next to the + New Safety Analysis button).
3. Under the Filters sidebar, select any combination of the following fields to identify the Safety Analysis projects you would like to evaluate in your Appraisal, including Owner, Category, Project Creation Date, Minimum Benefit/Cost Ratio, and Maximum cost.
4. With your filters selected, enter the budget for your Appraisal in the Budget field, located in the center of the screen, then click the Add Projects button.
5. Safety Analysis will now prioritize the available projects, creating an automatically-generated list of projects. The Economic Appraisal will automatically select projects with the highest benefit-cost ratio with the available funds. To manually remove a project from the Appraisal, click the X icon located to the right of the project. To manually add a project to the Appraisal, click the + icon located to the right of the project.
6. When you have finished adjusting your Appraisal, click the download icon (a downward facing arrow) located in the top right corner of the screen.
7. Provide a title, and any notes you would like to include in the report.
8. A preview of the report will appear. Review the report for accuracy and completeness, and click the Save and Download button located in the top right corner of the screen to save the report. Or click the Back button to return to the Economic Appraisal screen.