RES2023-03: Automatic Tools for Quick and Accurate Construction Cost Estimation for Retaining Walls
As noted in AASHTO (2013), the inability to accurately estimate project costs can result in poor financial decisions. Estimated costs that are too high result in a reduced calculated benefit-to-cost ratio that may lead to rejecting a project that should be accepted. Estimated costs that are too high can also incorrectly indicate an overrun in TDOT budgets that can contribute to fewer projects being developed and constructed. On the other hand, costs that are too low result in a high benefit-to-cost ratio that may lead to accepting a project that should not be accepted and can contribute to underrun TDOT budgets whereby the nonexpended funds could have been used to develop and construct more projects.
Language
- English
Project
- Status: Active
- Funding: $149999
-
Sponsor Organizations:
Tennessee Department of Transportation
James K. Polk Building
Fifth and Deaderick Street
Nashville, TN United States 37243-0349 -
Managing Organizations:
Tennessee Department of Transportation
James K. Polk Building
Fifth and Deaderick Street
Nashville, TN United States 37243-0349 -
Performing Organizations:
University of Memphis
Center for Intermodal Freight Transportation Studies
3815 Central Avenue
Memphis, TN United States 38152 -
Principal Investigators:
Arellano, David
- Start Date: 20220801
- Expected Completion Date: 20240131
- Actual Completion Date: 0
- USDOT Program: Transportation, Planning, Research, and Development
Subject/Index Terms
- TRT Terms: Cost estimating; Retaining walls
- Subject Areas: Bridges and other structures; Construction; Finance; Highways; Planning and Forecasting;
Filing Info
- Accession Number: 01854002
- Record Type: Research project
- Source Agency: Tennessee Department of Transportation
- Files: RIP, STATEDOT
- Created Date: Aug 10 2022 9:31AM