Title: ITS AND THE MAJOR INVESTMENT STUDY PROCESS : THE VIRGINIA EXPERIENCE
Abstract: A Major Investment Study (MIS) is a federal planning process that serves as a staple tool for public agencies to identify specific corridor/network transportation needs and solutions. Though the MIS looks at how to best spend federal funds, it is still flexible enough to allow for a locally selected alternative. Typical strategies within alternatives include: operational improvements (transportation demand management, transportation management systems, enhanced bus service); highway improvements (lane additions, high occupancy vehicle (HOV) facilities, new/improved interchanges); and rail improvements (commuter, light rail, high speed) or a combination of some or all strategies. A MIS is a highly evaluative document that analyzes: cost benefits and impacts of the various suggested alternatives. More importantly, the MIS process sets the basis for future federal funding of a corridor/network and also institutionalizes that project within an agency's capital improvements program. Elements of a MIS include: problem definition, identifying alternatives, criteria for evaluation estimation of benefits and cost, environmental analysis, evaluation of alternatives and public involvement.
Publication Year: 1998
Publication Date: 1998-01-01
Language: en
Type: article
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