Analyzing the Cost and Benefit of the University Students’ Accident-Reducing Project in the Area of the Roundabout in Khon Kaen University

Abstract

This research aims to study the cost-benefits analysis of the decreasing roundabout accidents project of Khon Kaen University students. The roundabout in the Khon Kaen university is the thoroughfare that has a lot of passers and riders, that is why it causes many accidents.

The sample of this research is students and personals in the Khon Kaen University (statistics of accidents in Khon Kaen University: 2015 - 2019). Furthermore, this research also interviewed 15 people who had an accident before by using in-depth interviews. The organizers also propose the guidelines for solving these problems by creating a warning sign “priority to the right”, it was studied by cost-benefits analysis and economic value analysis with net present value (NPV) and benefit-cost ratio (B/C Ratio). The result found that cost-benefits analysis is for 156,400 baht and benefits for all of this project can be calculated as 391,000 baht. It can be summarized that the net present value is for 222,767 baht, while the benefit-cost ratio is equal to 2.5 which is positive and more than 0. Therefore, it means that this project is worth the investment.