METHODS FOR CAPITAL PROGRAMMING AND PROJECT SELECTION

This synthesis will be of interest to transportation department administrators, financial managers, program area managers, and others who are concerned with the financing, budgeting, and funding aspects of managing the transportation infrastructure. It will also be of interest to others outside of the state department of transportation (DOT), including state legislators, metropolitan planning organizations (MPOs), local government officials, and environmental agencies who interact with the DOTs in programming and project development. The synthesis presents information on changes in the capital programming process instituted by DOTs in response to the Intermodal Surface Transportation Efficiency Act of 1991 (ISTEA) and to other factors that affect both policy and practice in developing and managing their capital program. This report of the Transportation Research Board describes key influences on programming, including federal, state, and local regulations, and the changes that have resulted. It also discusses programming and project selection methods used by the states, such as the criteria for setting priorities, use of management systems, tradeoff analyses, and public involvement. The key aspects of revenue forecasting and cash management as they relate to programming issues are also highlighted.