Download or read book Improvement of Estimate Accuracy of Highway Projects and Development of a Chained Fisher Construtcion Cost Index written by Hala Massoud Nassereddine and published by . This book was released on 2016 with total page 128 pages. Available in PDF, EPUB and Kindle. Book excerpt: The estimation process represents the critical underpinning of any project. It is a collaborative process carried during different stages. State Highway Agencies (SHAs) strive to develop an engineering estimate that is in line with the market considerations and hopefully, the low bid for the project. One important indicator of the effectiveness and accuracy of the estimating process is how closely it predicts the low bid. The problem of inaccurate SHASs' estimates is a major concern for legislators. Too low of an estimate leads to uncertainty whether the costs submitted by the contractor is fair and reasonable and should be awarded. Too high of an estimate can mean additional projects must be developed and included in the program to meet published yearly construction amounts. Accurate project estimates are critical, particularly when evaluating the reasonableness of single bids. To measure the credibility of the SHA's project’s estimate, the Federal Highway Administration (FHWA) established a degree of accuracy standard requiring the engineer’s project estimate to be within 10% of the low bid for at least 50% of the project. The Wisconsin Department of Transportation (WisDOT) has established its own level of accuracy performance standard targeting at least 60% of the projects to be within 10% of the low bid. However, WisDOT bid tabs showed a significant deviation from this desired goal. This continued performance problem resulted in WisDOT reexamining its current estimating process. WisDOT requested that the Construction and Materials Support Center (CMSC) at the University of Wisconsin-Madison assist the Department in the improvement of the accuracy its current estimates. First, WisDOT requested CMSC to look at the project level and improve the engineering estimate accuracy (EEA). In an attempt to achieve the desired objective, the research team analyzed the WisDOT bid tabs at the contract level and created regression models to improve the accuracy of the engineer’s estimate. The underlying concept is dependent on improving the engineer's estimate by predicting the lowest bid for the project. However, the various statistical analyses performed and the various models formulated to improve WisDOT EEA did not boost the EEA to the 60% threshold. One reason for these results is that the engineer's estimates themselves contain a high degree of noise or hidden variables such as the number and experience of the personnel who develop the estimates. Thus, inaccuracy of the cost estimates stem not only from the engineer's estimate. This paper presents the results of this analyses. Following these results, WisDOT requested the research team to expand the research and look at the construction cost index (CCI) as a potential tool for improving the estimating process. CCIs are important SHA to provide an indicator of construction cost escalation over time and to update old bid cost information to current year pricing. FHWA publishes a National Highway Construction Cost Index (NHCCI) based upon cost data from several states for SHA to use. WisDOT uses a CCI to measure the changes in purchasing power of their construction dollar from one year to the next. Currently, WisDOT uses a fixed-weight index to compute the CCI for a fixed basket of seven construction items. However, the current WisDOT CCI is subject to considerable short-term variation and does not accurately reflect the project bid costs that the department is experiencing. This paper presents results of the study requested by WisDOT to develop an approach for calculating a more representative, reliable and objective CCI. The paper presents various approaches to calculating a CCI, highlighting their properties and characteristics. It also outlines the process used to select a representative basket of items to calculate the index and outlines the data preparation steps needed to improve data quality. The recommended methodology uses a chained, two-stage aggregation computation process. The paper compares the newly constructed WisDOT CCI to the old CCI as well as to the NHCCI. The impact from selecting different size baskets of items is also investigated and it is concluded that a basket containing a representative number of items is sufficient to calculate a reliable CCI. Finally, the research team developed time series models to accurately forecast the CCI.

Download or read book Improving the Accuracy of Early Cost Estimates for Federal Construction Projects written by National Research Council and published by National Academies Press. This book was released on 1990-02-01 with total page 55 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Guidance for Cost Estimation and Management for Highway Projects During Planning Programming and Preconstruction written by Stuart D. Anderson and published by Transportation Research Board. This book was released on 2007 with total page 290 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'TRB's National Cooperative Highway Research Program (NCHRP) Report 574: Guidance for Cost Estimation and Management for Highway Projects During Planning, Programming, and Preconstruction explores approaches to cost estimation and management designed to overcome the root causes of cost escalation and to support the development of consistent and accurate project estimates through all phases of the development process, from long-range planning, through priority programming, and through project design. NCHRP Web-Only Document 98 details the steps followed by the research team in the development of NCHRP Report 574"--Publisher's description.

Download or read book Developing and Validating a Highway Construction Project Cost Estimation Tool written by and published by . This book was released on 2004 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: In May 2002, Virginia's Commonwealth Transportation Commissioner tasked his Chief of Technology, Research & Innovation with leading an effort to develop a definitive, consistent, and well-documented approach for estimating the cost of delivering construction projects. A task force that included Virginia Department of Transportation (VDOT) central and district office staff, Virginia Transportation Research Council staff, Commonwealth Transportation Board members, and a metropolitan planning organization member was formed to either locate a well-founded, tested method for estimating project costs that could be adapted for use by VDOT or develop one. The task group found that a VDOT district had been using an estimation worksheet for several years that produced consistent and reliable results for certain types of roadway and bridge construction. The task group determined that no other method examined had the specificity and potential of this tool. The project team expanded the tool by collecting extensive project data and obtaining evaluations of VDOT project management personnel statewide to develop it further. The existing Excel worksheet with roadway and bridge estimates was expanded to include construction engineering, to be applicable for interstates, and to generate estimates for right-of-way and utilities costs. Data on completed projects were collected from all VDOT districts to help calibrate the model further to account for cost variations across the state. The task group also recognized early on that a very strong focus on project scoping was essential to accurate project estimation. A previous VDOT scoping committee had determined that VDOT did not have a consistent, uniform method that was being used statewide to scope projects. As a result, project cost estimates made at the scoping stage often did not hold up over time because key project features were invariably overlooked. The result was inaccurate estimates. Testing of the cost estimation tool was completed in the summer of 2003. Analysis of a sample of completed VDOT construction projects throughout the state showed that the tool yielded results that, on average, differed from actual final project costs by 22 percent. After further modifications, the Project Cost Estimation System (PCES), as it was named, became a fully operational system for VDOT in October 2003. The PCES is composed of three elements: a cost estimation tool, an improved scoping process, and a project development website. The responsibility for maintaining and updating the PCES now rests with VDOT's Scheduling & Contract Development Division.

Download or read book Development of a Right of way Cost Estimation and Cost Estimate Management Process Framework for Highway Projects written by Matthew Allen Lucas and published by . This book was released on 2010 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Escalation of right-of-way (ROW) costs have been shown to be a prime contributor to project cost escalation in the highway industry. Two problems contribute to ROW cost escalation: 1) the ROW cost estimation and cost estimate management process generally lacks structure and definition as compared to other areas of cost estimation; and 2) there is a lack of integration and communication between those responsible for ROW cost estimating and those responsible for general project cost estimating. The research for this thesis was preceded by a literature review to establish the basis for the study. Data collection was completed through interviews of seven state highway agencies (SHAs) and two local public agencies (LPAs). The findings of the research are presented in a set of ROW flowcharts which document the steps, inputs, and outputs of the ROW cost estimation and cost estimate management process. Three ROW cost estimates and a cost management process take place throughout project development. An effort was made from the onset of the research to relate the ROW cost estimating and cost estimate management process to the first four project development phases (planning, programming. preliminary design, and final design). There are five flowcharts produced as a result of this research: 1) an agency-level flowchart showing all cost estimates and the interaction of ROW with the project development process; 2) a conceptual ROW cost estimating flowchart which depicts the required steps during planning; 3) a baseline ROW cost estimating flowchart which depicts the required steps during programming; 4) an update ROW cost estimating flowchart which depicts the required steps during preliminary design to include a cost estimate management loop; and 5) a ROW cost management flowchart which depicts the required steps during final design. Although selected SHA contacts provided input following the development of the flowcharts, the flowcharts were only validated to a limited extent due to time and budget constraints. These flowcharts attempt to address the two contributing problems to ROW cost escalation by providing structure to the ROW cost estimation process and by developing the ROW process flowcharts linked to the project development process. Based on the input provided by SHA contacts, the flowcharts appear to have the potential to provide guidance to SHAs in improving the accuracy of ROW cost estimates through addressing these two problems.

Download or read book NCHRP Report 574 written by and published by . This book was released on 2007 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Identification of Potential Strategies Methods and Tools for Improving Cost Estimating Practices for Highway Projects written by Kelly E. Donnell and published by . This book was released on 2005 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Project cost escalation is a major problem for State Highway Agencies (SHA). This problem is evident in cost estimating procedures that may not promote consistency and accuracy of costs over the project development process. The research proposes that a relationship exists between applying good estimating practices and minimizing cost escalation from the initial planning estimate to the engineer's estimate at final design. The objective of this research is to develop a preliminary list of strategies, methods, and tools for project cost estimation practices aimed at achieving greater consistency and accuracy between the project development phases. A literature review was conducted that assisted in identifying factors that lead to the cost escalation of projects. The information from the literature was used to discover the core estimating assumptions that are the root causes behind cost escalation and lack of project estimate consistency and accuracy. After the cost escalation factors were determined, interviews with SHAs were conducted that lead to identifying unique and/or innovative approaches that will aid the SHAs in overcoming the cost escalation factors. The main methodology used to develop a potential list of strategies, methods, and tools was first focused on linking strategies to causes of cost escalation. Global strategies were identified by means of this approach. Methods and tools that would likely be effective in implementing the strategies are therefore directed at mitigating root causes of estimate problems in a focused approach. The strategies, methods, and tools are aligned with the project development phase where they would be implemented. Thus, a preliminary list of strategies, methods, and tools is provided in this study.

Download or read book Engineering Estimates and FHWA Accuracy Criterion written by David Q. Hunsucker and published by . This book was released on 1991 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Engineering for Structural Stability in Bridge Construction written by Federal Highway Federal Highway Administration and published by . This book was released on 2020-07-19 with total page 669 pages. Available in PDF, EPUB and Kindle. Book excerpt: This manual is intended to serve as a reference. It will provide technical information which will enable Manual users to perform the following activities:Describe typical erection practices for girder bridge superstructures and recognize critical construction stagesDiscuss typical practices for evaluating structural stability of girder bridge superstructures during early stages of erection and throughout bridge constructionExplain the basic concepts of stability and why it is important in bridge erection* Explain common techniques for performing advanced stability analysis along with their advantages and limitationsDescribe how differing construction sequences effect superstructure stabilityBe able to select appropriate loads, load combinations, and load factors for use in analyzing superstructure components during constructionBe able to analyze bridge members at various stages of erection* Develop erection plans that are safe and economical, and know what information is required and should be a part of those plansDescribe the differences between local, member and global (system) stability

Download or read book Analytical Travel Forecasting Approaches for Project level Planning and Design written by C. D. M. Smith and published by . This book was released on 2014 with total page 307 pages. Available in PDF, EPUB and Kindle. Book excerpt: "TRB's National Cooperative Highway Research Program (NCHRP) Report 765: Analytical Travel Forecasting Approaches for Project-Level Planning and Design describes methods, data sources, and procedures for producing travel forecasts for highway project-level analyses. This report provides an update to NCHRP Report 255: Highway Traffic Data for Urbanized Area Project Planning and Design. In addition to the report, Appendices A through I from the contractor's final report are available on CRP-CD-143. These appendices supplement this report by providing a substantial amount of companion data and information. The appendices also include the extended literature review, the detailed NCHRP Report 255 review, supplementary tables, a list of defined acronyms, and a glossary. Also included on CRP-CD-143 are spreadsheet demonstrations, and, for reference purposes, a tool developed by the North Carolina Department of Transportation to assess annual average daily traffic."--Publisher's description.

Download or read book Principles of Political Economy written by John Stuart Mill and published by . This book was released on 1882 with total page 632 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Apollo s Warriors written by Michael E. Haas and published by DIANE Publishing. This book was released on 1998-05 with total page 388 pages. Available in PDF, EPUB and Kindle. Book excerpt: Presenting a fascinating insider's view of U.S.A.F. special operations, this volume brings to life the critical contributions these forces have made to the exercise of air & space power. Focusing in particular on the period between the Korean War & the Indochina wars of 1950-1979, the accounts of numerous missions are profusely illustrated with photos & maps. Includes a discussion of AF operations in Europe during WWII, as well as profiles of Air Commandos who performed above & beyond the call of duty. Reflects on the need for financial & political support for restoration of the forces. Bibliography. Extensive photos & maps. Charts & tables.

Download or read book Stream Corridor Restoration written by and published by National Technical Info Svc. This book was released on 1998 with total page 648 pages. Available in PDF, EPUB and Kindle. Book excerpt: This document is a cooperative effort among fifteen Federal agencies and partners to produce a common reference on stream corridor restoration. It responds to a growing national and international interest in restoring stream corridors.

Download or read book Learning to Think Spatially written by National Research Council and published by National Academies Press. This book was released on 2005-02-03 with total page 333 pages. Available in PDF, EPUB and Kindle. Book excerpt: Learning to Think Spatially examines how spatial thinking might be incorporated into existing standards-based instruction across the school curriculum. Spatial thinking must be recognized as a fundamental part of Kâ€"12 education and as an integrator and a facilitator for problem solving across the curriculum. With advances in computing technologies and the increasing availability of geospatial data, spatial thinking will play a significant role in the information-based economy of the twenty-first century. Using appropriately designed support systems tailored to the Kâ€"12 context, spatial thinking can be taught formally to all students. A geographic information system (GIS) offers one example of a high-technology support system that can enable students and teachers to practice and apply spatial thinking in many areas of the curriculum.

Download or read book Small is Profitable written by Amory B. Lovins and published by Routledge. This book was released on 2020-11-27 with total page 398 pages. Available in PDF, EPUB and Kindle. Book excerpt: Today's electricity industry - large power stations feeding a nationwide grid - will soon be a thing of the past. This book explains why and what will replace it - decentralized and distributed electrical resources which can be up to 10 times as economically valuable. The authors - all leading experts in the field - explain very clearly and thoroughly all the benefits, so the engineers will understand the economic advantages and the investors will understand the engineering efficiencies. Here's what industry experts are saying about Small is Profitable... 'A tour-de-force and a goldmine of good ideas. It is going to have a stunning impact on thinking about electricity.' Walter C. Patterson, Senior Research Fellow, Royal Institute of International Affairs, London. 'An amazing undertaking - incredibly ambitious yet magnificently researched and executed.' Dr. Shimon Awerbuch, Senior Advisor, International Energy Agency, Paris. 'Outstanding...You have thought of some [benefits] I never considered...A great resource for the innovation in energy services that will have to take place for us to have a sustainable future.' Dr. Carl Weinberg, Weinberg Associates, former Research Director, PG&E. 'This is a brilliant synthesis and overview with a lot of original analytics and insights and a very important overall theme. I think it is going to have a big impact.' Greg Kats, Principal, Capital E LLC, former Finance Director for Efficiency and Renewable Energy, U.S. Department of Energy. 'E. F. Schumacher would be proud of this rigorous extension of his thesis in Small is Beautiful. It shows how making systems the right size can make them work better and cost less. Here are critical lessons for the new century: technologies tailored to the needs of people, not the reverse, can improve the economy and the environment.' Dr. Daniel Kammen, Professor of Energy and Society and of Public Policy, University of California, Berkeley. 'Small is Profitable creates an unconventional but impeccably reasoned foundation to correctly assign the costs and true benefits of distributed energy systems. It has become an indispensable tool for modelling distributed energy systems benefits for us.' Tom Dinwoodie, CEO and Chairman, PowerLight Corporation. 'A Unique and valuable contribution to the distributed energy industry...Small Is Profitable highlights the societal benefits of distributed resources, and will be a helpful guide to policymakers who wish to properly account for these benefits in the marketplace.' Nicholas Lenssen, Senior Director, Primen. 'This book will shift the electric industry from the hazards of overcentralization toward the new era where distributed generation will rule.' Steven J. Strong, President, Solar Design Associates, Inc. 'Readers will understand why distributed resources are poised to fundamentally alter the electric power system. Its comprehensive review of the benefits of distributed resources [is] an important part of my library.' Dr. Thomas E. Hoff, President, Clean Power Research. 'The most comprehensive treatise on distributed generation.... Great job and congratulations.' Howard Wenger, Principal, Pacific Energy Group '..[D]ensely packed with information and insights...goes a long way to demonstrate that the former paradigm of electric power supply no longer makes sense.' Prof. Richard Hirsh, University of Vermont, Leading historian of the electric power sector. 'Amory Lovins was already the world's most original and influential thinker on the future of energy services in general and electricity systems in particular. This remarkable book is a very worthy addition to an extraordinary legacy.' Ralph Cavanagh, Energy Co-Director, Natural Resources Defense Council. 'This is a book every utility professional should have on the bookshelf.' Dr Peter S. Fox-Penner, Principal and Chairman of the Board, the Brattle Group, former Principal Deputy Assistant Secretary of Energy.

Download or read book Years of adventure 1874 1920 written by Herbert Hoover and published by . This book was released on 1951 with total page 536 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book NCHRP Report 532 written by and published by . This book was released on 2004 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: