ICRI Project: VTI Economics
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.