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Incorporating Uncertainty Analysis into Forecasting

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Presentation on theme: "Incorporating Uncertainty Analysis into Forecasting"— Presentation transcript:

1 Incorporating Uncertainty Analysis into Forecasting
Group Discussion AMPO Travel Modeling Work Group Chicago, Illinois October 1, 2009 1

2 AMPO Travel Modeling Work Group Meeting
Why Bother? A new way of thinking about forecasting Insights, not just model mechanics Range of possible outcomes Another approach for quality control checks Information for decision makers Upper/lower bound, most likely Honesty in presentation of forecasts Predicted-versus-actual outcomes AMPO Travel Modeling Work Group Meeting 2

3 Example: Forecast Build-up
Series of forecasts for: Today Plus future transit network Plus new transit behaviors Plus future trip tables Plus future highway congestion Plus future parking costs Plus alternative land use (?) Choice riders Park/ride etc. Guideway effects AMPO Travel Modeling Work Group Meeting

4 Example: Honolulu Rail Study
Rail-trip Build-up Forecast Attribute #1 #2 #3 #4 #5 #6 #7 #8 Person trips -- ’05 ’18 ‘30 ’30 Highway speeds ‘05 ’30- Bus speeds ’05+ Transit network Transit demand ’05a ’05p ’18p ’30h ’30b ’30c Rail trips per day 60k 73k 77k 86k 72k 118k 87k Notes: - Transit demand ’05a is the 2005 on-board survey. - Bus speeds ’05+ are based on highway speeds from the assignment of 2005 person trips onto the 2030 highway network. - Highway speeds ’30- are from the assignment of 2030 person trips onto the 2005 highway network. AMPO Travel Modeling Work Group Meeting

5 Example Specifications
AMPO Travel Modeling Work Group Meeting

6 AMPO Travel Modeling Work Group Meeting
Discussion Points Model documentation Assessment of model plausibility What it does/does not know well Markets, modes, behaviors Results of forecast tests Consistency with similar projects Key drivers of the forecasts Demographic/network inputs Alternative assumptions AMPO Travel Modeling Work Group Meeting 6


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