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Best practices for budget-based design.
  • Published Date:
    2017-03-01
  • Language:
    English
Filetype[PDF-3.05 MB]


Details:
  • Publication/ Report Number:
    FHWA-GA-17-1409
  • Resource Type:
  • Format:
  • Abstract:
    State Departments of Transportation (State DOTs) encounter difficulties in establishing feasible and

    reliable project budget early in the project development. The lack of a systematic process for establishing

    baseline budget with the consideration of potential issues (risks) that negatively impact project cost

    throughout project development presents a major challenge for State DOTs. The overarching objective of

    this research project is to develop a set of cost estimation and management practices for budget-based

    design that can aid GDOT project managers and engineers throughout the plan development process

    (PDP). To achieve the research objective, this report conducted three major tasks: (1) Reviewing state of

    practice of cost estimation process in other State DOTs; (2) Reviewing state of practice for fixed budgetbest

    value procurement method in other State DOTs; and (3) Conducting statistical analysis to identify

    important variables capable of explaining variations in submitted bid prices for highway projects in the

    State of Georgia. Cost estimation and control processes in Minnesota, California, Texas, Ohio, and

    Washington State DOTs are provided as examples of best practices in establishing reliable baseline cost

    estimates. Procurement process in Utah, Colorado, and Michigan DOTs are presented as examples of

    successful utilization of fixed budget-best value procurement method. The results of multivariate

    regression analysis show that 12 variables, including quantity of the bid item, housing market index,

    Georgia asphalt cement price index, total bid price, project length, 12-month percent change of Georgia

    asphalt cement price index, 12-month percent change of Gross Domestic Product (GDP) of the Georgia

    construction industry, unemployment, total asphalt volume of resurfacing and widening projects, number

    of bidders, project duration, and number of nearby asphalt plants have explanatory power to explain

    variations in submitted bid prices for major asphalt line items in the State of Georgia’s highway projects.

    It is also found out that 5 variables, including unemployment, 12-month percent change of Georgia asphalt

    cement price index, quantity of the bid item, total bid price, and Turner construction cost index have power

    to explain variations in submitted bid prices for projects in the Transportation Investment Act (TIA)

    regions.

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