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Title: IMPROVING CONCEPTUAL ESTIMATING METHODS USING HISTORICAL COST DATA
Accession Number: 00743113
Record Type: Component
Record URL: Availability: Transportation Research Board Business Office 500 Fifth Street, NW Find a library where document is available Abstract: Growing needs for the highway system are causing great concern, considering that federal and state funding cannot possibly support all the demands. To maximize the benefit of each allotted dollar, a dependable method for forecasting costs is needed. In 1993, the Federal Highway Administration and the Kentucky Transportation Cabinet authorized a study of current estimating methods for highway projects and the development of a better method, if possible. The research led to the development of a computer program, KYEstimate. It uses historical cost data and project length to calculate a unit cost (cost/kilometer or cost/mile), and promises to improve conceptual estimates for highway projects. KYEstimate is most beneficial in the planning stages of a project; the estimate produced should be viewed as a preliminary estimate only. The program has been designed to complement the skills of an estimator, and should make the conceptual estimating process easier and less time consuming. KYEstimate also provides justification and documentation for the estimate. Using their own historical data, other states could also benefit from this type of conceptual estimating.
Supplemental Notes: This paper appears in Transportation Research Record No. 1575, Construction: Flexible Pavements, Bridges, Quality, and Management.
Language: English
Corporate Authors: Transportation Research Board 500 Fifth Street, NW Authors: Walton, J RStevens, J DPagination: p. 127-131
Publication Date: 1997
Serial: ISBN: 0301061601
Features: Figures
(2)
; References
(5)
; Tables
(1)
TRT Terms: Uncontrolled Terms: Geographic Terms: Subject Areas: Administration and Management; Construction; Finance; Highways; History; I10: Economics and Administration; I50: Construction and Supervision of Construction
Files: TRIS, TRB, ATRI
Created Date: Nov 13 1997 12:00AM
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