Contingency Factors to Account for Risk in Early Construction Cost Estimates for Transportation Infrastructure Projects

The objective of this project is to develop a guidebook for state DOT staff responsible for scoping projects to improve early construction cost estimates for common project types with differing levels of project complexity. The guidebook will identify project-related risks that are associated with significant cost impacts and that affect the accuracy of early cost estimates compared to actual construction costs. To account for these project-related risks, the guidebook will define contingency factor ranges for at least 8 identified risks. The guidebook will also address how state DOTs can better track the costs associated with risks to refine these contingency factors as needed and to develop additional factors in the future.

Language

  • English

Project

  • Status: Completed
  • Funding: $250000
  • Contract Numbers:

    Project 15-71

  • Sponsor Organizations:

    National Cooperative Highway Research Program

    Transportation Research Board
    500 Fifth Street, NW
    Washington, DC  United States  20001

    American Association of State Highway and Transportation Officials (AASHTO)

    444 North Capitol Street, NW
    Washington, DC  United States  20001

    Federal Highway Administration

    1200 New Jersey Avenue, SE
    Washington, DC  United States  20590
  • Project Managers:

    Hartell, Ann

  • Performing Organizations:

    Texas A&M Transportation Institute (TTI)

    400 Harvey Mitchell Parkway South
    Suite 300
    College Station, TX  United States  77845-4375
  • Principal Investigators:

    Jeong, H

  • Start Date: 20200708
  • Expected Completion Date: 20220630
  • Actual Completion Date: 0

Subject/Index Terms

Filing Info

  • Accession Number: 01707642
  • Record Type: Research project
  • Source Agency: Transportation Research Board
  • Contract Numbers: Project 15-71
  • Files: TRB, RIP
  • Created Date: Jun 7 2019 12:56PM