Title Page
ABSTRACT
Contents
1.0. INTRODUCTION 12
1.1. Background 12
1.2. Research Objectives 15
1.3. Scope 16
1.4. Significance of the Research 17
1.5. Organization of the Thesis 18
2.0. LITERATURE REVIEW 21
2.1. Traffic Congestion 21
2.1.1. Causes of Traffic Congestion 22
2.1.2. Types of Traffic Congestion 24
2.1.3. Cost of Traffic Congestion 25
2.2. The Road Pricing Theory 43
2.3. Free Expressway and Toll Expressway 46
2.3.1. Free Expressway 46
2.3.2. Toll Expressway 48
2.4. Toll Operation 49
2.4.1. Congestion Toll in London, Stokholm and Seoul 53
2.5. Approaches and Models for Evaluating Traffic Congestion 56
2.5.1. Bureau of Public Road (BPR) Model 56
2.5.2. Traffic Micro-simulation Model 59
2.5.3. Economic Analysis of Traffic 60
2.6. Cost-Benefit Analysis 62
3.0. RESEARCH METHODOLOGY 67
3.1. Methodology Framework 67
3.2. Description Study Area 74
3.3. Geographical Description of the Study Area 75
3.4. Collection and Source of Data 76
3.5. Description of Data Set 77
4.0. DATA ANALYSIS 79
4.1. Traffic Volume Analysis 79
4.2. BPR Modeling 83
4.3. Economic Analysis (Cost-Benefit Analysis) 85
4.3.1. Identifed Cost and Benefit Items 86
4.3.2. Quantifying and Assigning Monetary Value to Cost and Benefit Items 87
4.3.3. Monetization of Cost Items 87
4.3.4. Benefit Items 88
4.4. CBA Input Parameters and Assumptions 97
4.4.1. Economic Resource-Flow Statements 99
4.4.2. Calculating the Economic Analysis Indicators (B/C Ratio, NPV and IRR) 101
4.5. Financial Analysis 105
4.5.1. Calculating the Financial Indicators (Toll- Revenue, IRR and NPV) 107
4.5.2. Financial Cash-Flow Statements 108
4.5.3. Toll Revenue 109
4.5.4. Financial Net Present Value (FNPV) 111
4.5.5. Financial Internal Rate of Return 112
4.6. Risk Identiifation and Mitigation Measures 113
5.0. OBSERVATION, POLICY RECOMMENDATION AND CONCLUSIONS 116
5.1. Observation 116
5.2. Policy Recommendations 117
5.3. Conclusion 119
5.4. Recommendation for Future Studies 120
5.5. Limitations of the Study 122
BIBLIOGRAPHY 125
APPENDICES 130
APPENDIX 1. The classified In-bound traffic count at section 1-section 6 during peak and off-peak period 130
APPENDIX 2. The classified out-bound traffic count at section 1-section 6 during peak and off-peak period. 131
APPENDIX 3. BPR Model Analysis of Travel time 133
APPENDIX 4. Monetization of Cost Items 135
APPENDIX 5. Travel Time Saving Benefits Computation 135
APPENDIX 6. Savings of Reduced Fuel Consumption 138
APPENDIX 7. Improved Safety/Accidents Cost Savings 141
APPENDIX 8. Cost of Reduced Carbon Emissions 142
APPENDIX 9. Vehicle Operation Cost Savings (Excluding Fuel Cost) 150
초록 156
Table 1. Comparison between Manual and ETC Systems 53
Table 2. Overview of Congestion Toll in London,Stokholm and Seoul 54
Table 3. Models and economic valuation tool 67
Table 4. Sections under investigation and the distance in the order of origin to destionation (Sub-Urban → CBD)[이미지참조] 78
Table 5. The classified In-bound traffic count at S1-S6 during peak hour 79
Table 6. The classified out-bound traffic count at Section 1-Section 6 during peak hour 81
Table 7. BPR Model input parameters and assumptions 83
Table 8. BPR function analysis of travel time 84
Table 9. Identified cost items 86
Table 10. Identified benefit items 86
Table 11. Monetization of cost items 87
Table 12. Travel time saving parameters 89
Table 13. Travel time saving computation 89
Table 14. Fuel consumption function parameters 90
Table 15. Savings of Reduced Fuel Consumption 91
Table 16. Savings from improved safety/accidents 93
Table 17. GHG conversion parameters and assumptions 94
Table 18. Savings reduced GHG emissions 95
Table 19. Vehicle operation Saving Parameters and Assumptions 96
Table 20. Vehicle Operation Cost Savings Computation (Exc. Fuel cost) 96
Table 21. Summary of costs and Benefits 99
Table 22. Economic Resource-Flow Statement 100
Table 23. Economic net present value (NPV) 102
Table 24. Internal Rate of Return (IRR) 103
Table 25. Benefit-Cost Ratio (B/C Ratio) 104
Table 26. Summary of Revenue and expenditure 107
Table 27. Financial Cash-Flow Statement 108
Table 28. Toll-charging revenue 110
Table 29. Financial Net Present Value 111
Table 30. Financial Internal Rate of Return 112
Figure 1. Road map showing Abuja-Keffi expressway 14
Figure 2. Organization of the thesis 20
Figure 3. Pie chart representation of the associated cost of traffic congestion 26
Figure 4. Graph showing the correlation between average speed and fuel consumption 29
Figure 5. Graph displaying the relationship between average speed and fuel consumption 40
Figure 6. The Pigou-Knight Road Pricing Analysis 45
Figure 7. Free expressway in Malaysia 47
Figure 8. Image of manual toll collection with computerized toll calculation system 50
Figure 9. Korean Expressway and Hi-Pass System 51
Figure 10. Electronic toll-charging architecture 53
Figure 11. Graph displaying the Bureau of public roads (BPR) function 58
Figure 12. The logical methodological framework of the research 74
Figure 13. Map showing the Study Area 76
Figure 14. Map of Abuja showing the various intersection of the Abuja-Keffi expressway under investigation 78
Figure 15. Graph showing the in-bound peak and off-peak hour traffic volume of S1- S6 on the Abuja-Keffi expressway 80
Figure 16. Graph showing the out-bound peak and off-peak hour traffic volume of S1- S6 on the Abuja-Keffi expressway 82