Assessment of Federal Highway Administration (FHWA) Highway Project Cost Estimation Tools

Details

• Corporate Creators:
  United States. Federal Highway Administration
• Corporate Contributors:
  Turner-Fairbank Highway Research Center
• Subject/TRT Terms:
  • Research projects
  • Cost estimating
  • Benefit cost analysis
  • Highway engineering
• Publication/ Report Number:
  FHWA-HRT-22-060
• Resource Type:
  Booklet/Pamphlet
• Geographical Coverage:
  United States
• Corporate Publisher:
  United States. Federal Highway Administration
• Abstract:
  For transportation agencies, accurate and effective cost estimating is critical, during both the National Environmental Policy Act process and the development of the initial finance plan, for many reasons, including establishing the basis for significant project decisions, establishing a baseline cost to ultimately help measure project success, and communicating the project’s status to internal and external stakeholders. The ability to develop reasonable and defensible cost estimates is also important in maintaining public trust and confidence during a project. Cost estimate methods typically fall within five different approaches: Historical bid-based estimations, Conceptual estimation, Risk-based estimation, Cost-based estimation, Combination of historical bid-based and cost-based estimations.
• Format:
  PDF
• Download URL:
  https://rosap.ntl.bts.gov/view/dot/61037/dot_61037_DS1.pdf
• File Type:
  [PDF - 959.70 KB]
• Collection(s):
  Federal Highway Administration
• Main Document Checksum:
  urn:sha-512:acb67dd3ba22ee0e779d4235bed33cac08ed3f6031e24414e06d598d0443ecaae437356a01a94dab0300d72534df8aed3669b3059871ace8ce311d1b1fbf6bdc