Methods for evaluation of transportation projects in the USA

"Projects", as the term is used here, are capital investments--from resurfacing streets to multi-billion dollar construction--that create transportation infrastructure. "Methods" are primarily benefit-cost analysis, although other frameworks have been, and still remain, in use. Most projects are constructed by public agencies and authorities, primarily at the state and local level, but the federal government is the dominant source of evaluation guidance because most transportation projects use some share of federal funds. Benefit-cost analysis (BCA or BC) is a decision framework for government agencies to use in considering the desirability of taking alternative actions, whether investment, operations, or regulation. This survey describes the use of BCA by US transportation agencies, comparing theory, published guidance, and actual practice.