A Cost-Benefit Analysis of a railway seismic warning system

Abstract

It is a self-evident desideratum for any safety project that the overall performance of the project should be rated in terms of not only the attained level of safety but also the incurred cost. Cost Benefit Analysis(CBA)is an well established methodological framework for quantitative project evaluation. CBA is commonly applied in construction projects but seldom used for a project in operating and maintained systems. This paper demonstrates the use of CBA in such a project taking a seismic warning system for an urban railway network as an actuality case.