How to Improve the Financial Viability of a Project: Travel Demand Management Solutions

The Challenge: Expanding to Meet New Customer Demand Within Budget Constraints

Our client, a growing business, aimed to expand its operations to accommodate a larger customer base. The expansion involved the construction of new buildings and the addition of a significant number of parking spaces. However, the overall costs associated with the project far exceeded the budget available. The client needed a solution to reduce the financial burden without compromising on the functionality and capacity required for the expansion.

Our Approach: Developing a Travel Demand Management (TDM) Plan

TPC’s team of experts developed a Travel Demand Management (TDM) Plan specifically tailored to the client's needs. The TDM plan focused on reducing car travel, managing congestion effects, and reducing the number of parking spaces required. Our approach included:

  • Optimising transportation options: Encouraging alternative modes of transport such as public transport, cycling, and walking to reduce reliance on private vehicles.
  • Parking management strategies: Identifying and implementing strategies to reduce the need for excessive parking, thus saving significant costs in the expansion.
  • Congestion mitigation: Designing measures to alleviate traffic congestion and ensure smooth vehicle flow, which helped further reduce the need for additional parking spaces.

By applying Travel Demand Management principles, we created a comprehensive strategy that aligned with both the client's goals and budget constraints.

The Outcome: Significant Cost Savings and Improved Financial Viability

The implementation of the TDM plan resulted in substantial cost savings for our client. By reducing the number of parking spaces required and alleviating congestion, our client saved $4 million in capital costs and $200,000 annually in ongoing operating expenses. This allowed the expansion to stay within budget while still accommodating the growing demand for the business.

Our approach not only improved the financial viability of the project but also contributed to a more sustainable and efficient site. The client was able to achieve their expansion goals without sacrificing quality or functionality, and the savings realised have significantly enhanced their long-term financial outlook.

Why Choose TPC for Improving Your Project’s Financial Viability?

At Traffic Planning Consultants (TPC), we specialise in Travel Demand Management (TDM) and other cost-effective strategies that improve the financial viability of your project. Our team works closely with clients to reduce costs while meeting all functional requirements, ensuring the project remains within budget.

If you're facing financial constraints on a project, contact TPC today to see how we can help optimise your project’s cost-efficiency and achieve long-term success.

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