Cost Indexing and Unit Price Adjustments for Construction Materials

Details

• Creators:
  Pierce, C.E. ; Huynh, N.N. ; Guimaraes, P.
• Corporate Creators:
  University of South Carolina. Dept. of Civil & Environmental Engineering
• Corporate Contributors:
  South Carolina. Dept. of Transportation ; United States. Federal Highway Administration
• Subject/TRT Terms:
  • Bids
  • Prices
  • Index numbers
  • Costs
  • Unit costs
  • Bid prices
  • Construction materials
  • Cost escalation
  • Price index
  • Risk mitigation
  More +
• Publication/ Report Number:
  FHWA-SC-12-06 ; GT-12-01
• Resource Type:
  Tech Report
• Geographical Coverage:
  South Carolina
• Corporate Publisher:
  University of South Carolina. Dept. of Civil & Environmental Engineering
• Abstract:
  This project was focused on the assimilation of information regarding unit price adjustment clauses, or PACs, ; that are offered for construction materials at the state Departments of Transportation (DOTs). It is intended to ; provide the South Carolina Department of Transportation (SCDOT) with the current state of the practice and ; a better understanding of the financial and procedural benefits and risks associated with PACs. Asphalt and ; fuel are the most common and traditional materials for which PACs are accepted. This report evaluates the ; performance of SCDOT PACs for asphalt and fuel relative to its peers. This report also includes a PAC ; feasibility assessment for ten materials, other than asphalt and fuel, which are consumed in construction and ; maintenance operations. Steel was the singular material identified as a feasible option for PAC development; ; there are steel PACs available at 15 other state DOTs. Recommendations are developed for a PAC that ; covers reinforcing steel, but not structural steel.
• Format:
  PDF
• Funding:
  SPR Project No. 683
• Download URL:
  https://rosap.ntl.bts.gov/view/dot/25179/dot_25179_DS1.pdf
• File Type:
  [PDF - 1.80 MB]
• Collection(s):
  US Transportation Collection
• Main Document Checksum:
  urn:sha256:e4ab2954d4c5613029567532de042e79bd1892de9023fe57ce8cbfb733f05dea