The conclusions are what the person paying for the study wants them to be.
If a local municipality is anti-car, they will run a study justifying adding bike lanes everywhere, even though once they are built you never see bicycles in them, and they create more difficulty for cars by narrowing or taking away lanes.
Or they'll install "traffic calming" speed bumps, chicanes, or curb-extension bottlenecks on neighborhood roads when (almost) nobody in the neighborhood wanted them.
On the other hand, if they are pro-development, their studies will show that a new or widened road will lead to more business development, more jobs, more tax revenue.