When
April 15, 2026
Time
8:00am - 4:30pm EST
Contact Hours
0
Location
Courtyard Richmond Northwest/Short Pump
3950 Westerre Pkwy
Henrico, VA
23233
Description
Decision-making has become a major aspect of the transportation professional’s daily activity. Making smart economic decisions is no longer a luxury but a necessity. This workshop will provide attendees with an analytical framework for decision-making from an economic viewpoint. Workshop attendees will be provided with the theory, knowledge, and tools used to analyze commonly-encountered project selection dilemmas, and to make appropriate and defensible choices between competing alternative solutions based on sound economic principles. It is a good course for learning the fundamentals of economic theory and how to apply it to provide transportation solutions.
Agenda
Course Modules *
1. Time Value of Resources, Discount Rate, Cashflow and Inflation
2. Methods for Evaluating Investments
3. Benefit Cost Ratio
4. Life-Cycle Cost Analysis
*Equipment Required: A Scientific calculator with the ability to perform exponential operations.
Instructor
Lorenzo Casanova
Lorenzo Casanova, P.E.
He worked for 21 years for the Federal Highway Administration (FHWA) during which time he served for over twelve years as Pavement, Materials and Technology Transfer Engineer. He also served as the Local Programs Coordinator and Asset Management Program Manager.
Early in his career he got involved in Construction Inspection and Contract Administration. Later in his career, he became interested in Statistical Quality Assurance/Quality Control, and Project Monitoring and Project Management. In addition, he has extensive practical experience in engineering and economic analysis; and has held different positions in the public and private sectors, as well as in academia.
Mr. Casanova has taught courses in Statics, Strength of Materials, and Physics at two community colleges. With a B.S. degree in Civil Engineering, he is a registered P.E. in Florida and Delaware and earned his Masters of Engineering degree from the University of Florida where he taught senior level courses in Pavement Design.
Who Should Attend
It is intended for engineers, managers, and technicians, whether in public or private practice, interested in a basic understanding of economic principles and their application to project justification as well as the process of choosing between alternative investments. The attendees will learn how these principles might be used to make sound economic decisions for their agencies or business firms. Attendees are not required to have prior knowledge of economic theory.
Registration and Payment
The following registration fees cover the session, all course materials and meals:
Local Government: $85.00
State/Federal: $140.00
Private Industry: $325.00
Click here for UVA TTA's general registration information, cancellation policy, and refund policy. UVA TTA accepts the following credit cards: American Express, VISA, MasterCard, and Discover. Credit card information cannot be taken over the phone. Alternatively, after registering you can print out a voucher to send in with your payment. After you have completed the transaction you will receive an automatically generated email confirming registration and payment if applicable. Final confirmation and instructions will be sent out during the week prior to the class date.
Special Registration Instructions for Employees of the Virginia Department of Transportation
VDOT employees must register through the VDOT Virtual Campus. Registration fees and related expenses for all VDOT employees will be paid from the VDOT Learning Services Center budget. Registrants should contact their District Training Coordinator or the VDOT Learning Services Center (Central Office employees) for instructions on how to seek reimbursement for travel expenses.
Due to current travel restrictions, VDOT employees are strongly encouraged to attend U. Va. TTA workshops on a day trip basis. Overnight travel requires permission from your District Administrator or Chief -- and in some cases higher levels of authority. If you require overnight lodging to attend a U. Va. TTA workshop, consult with your supervisor, District Training Coordinator, or VDOT Learning Services Center on travel approval procedures.