Fluctuations in construction costs make the tasks of estimating the price of a project and the overall highway program difficult. The objective of this research project was to examine the price fluctuations of the most heavily used construction commodities over both the short and long terms. An index for each of these commodities has been created. The implementation plan for this project is to generate a monthly update of these indices and distribute it to personnel charged with estimating future construction costs for projects and budgeting the highway construction and maintenance programs.
Construction cost indices are generally estimated with Laspeyres, Paasche, or Fisher indices that allow changesin the quantities of construction bid i...
The three-quarter moving composite price index is the weighted average of the indices for three consecutive quarters. The Composite Bid Price Index is...
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United States Department of Transportation
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