ICRI Project: VTI Economics

ABOUT

VTI Economics

VTI Economics

Lead: Wesley Thomas, Sentient Science

Description: Develop methodologies to enable railroads, suppliers and researchers to develop fair and unbiased quantifications of the economic savings or benefits associated with a research, technology or process investment.

Status: Ongoing. ​Major updates from the last 18 months (since VTI Economics Group since ICRI Workshop 2018 at Delft on September 23rd 2018):

  • Benefit to Users: Bay Area Rapid Transit (BART) used the VTI Economics Model to present the cost savings of their wheel life extension initiative to their Board of Directors
  • Model Updates: Track Access Charges Added to Model (January 2019)
  • Model Updates: Turnout and Special Track Work Added to Model (February 2019)
  • Knowledge Transfer: Work of the VTI Economics Group (and the case study with BART) were published in the International Railway Journal (June 2019)- https://www.railjournal.com/in_depth/research-identifies-corrective-measures-rcf
  • Knowledge Transfer: Presentation at ICRI Workshop 2019 in Vancouver (July 2019)
  • Model Updates: ICRI Economics Model Beta Test Launched as Online Application with support from New York State Energy Research and Development Authority (NYSERDA) (July 2019)
  • Beta Testing: 10 Beta Tests Completed
  • Model Updates: Three Version Updates Completed based on Beta Testing
  • User Update: 5 Freight Railroads, 13 Transit Railroads, 3 Universities, 1 Rail Service Provider with ICRI Economic Models Today (22 total)
  • Knowledge Transfer: Webinar planned for March 25, 2020

Last review: 25MAR20 at ICRI Webinar. See Presentation in Downloads.

 

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