FTA Market Conditions Research: Recommendations for Improving Transit Industry Cost Estimation

Details

• Creators:
  Shah, Rizwan ; Orvedal, Haley S. ; Gilstrap, Matthew ; Sarna, Maya
• Corporate Creators:
  Guidehouse
• Corporate Contributors:
  United States. Federal Transit Administration. Office of Research, Demonstration, and Innovation ; United States. Department of Transportation. Research and Innovative Technology Administration
• Subject/TRT Terms:
  • Public transit
  • Cost estimating
  • Construction projects
  • Evaluation
  • Standards
  • Data collection
  • Data, Standards & Evaluation
  • Transit capital cost
  • Construction bids
• Publication/ Report Number:
  FTA Report No. 0130
• DOI:
  https://doi.org/10.21949/1503827
• Resource Type:
  Tech Report
• Geographical Coverage:
  United States
• Edition:
  1995-2015
• Corporate Publisher:
  United States. Federal Transit Administration. Office of Research, Demonstration, and Innovation
• Abstract:
  The purpose of this report is to evaluate transit cost estimates vs. bid pricing across 1995–2015, which spans two significant periods of economic turmoil and a large range of project conditions. Federal funding for transit capital projects is based on cost estimates provided by project sponsors and is reviewed by FTA, usually before construction bids are received. Accurate estimating is required to reliably establish these Federal grants. Anecdotal evidence exists and shows that overall economic conditions or patterns of project conditions may affect the ability of cost estimators to accurately forecast project costs. The national significance of the research is the improvement of cost estimating by the transit industry.
• Format:
  PDF
• Download URL:
  https://rosap.ntl.bts.gov/view/dot/39971/dot_39971_DS1.pdf
• File Type:
  [PDF - 1.13 MB]
• Collection(s):
  Federal Transit Administration
• Main Document Checksum:
  urn:sha256:f049763d29d6e4ca15aaa7cc8651b51bfad577b239e21dd21ecefcb16482f8eb