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Guidance for Cost Estimation and Management for Highway Projects During Planning, Programming, and Preconstruction (2007) / Chapter Skim
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Pages 3-6

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From page 3...
... in the country. Although project cost escalation is usually caused by lack of project scope control and factors external to the state highway agency, it results in cost estimation practice and cost estimation management approaches that do not promote consistency and accuracy of cost estimates across the project development process.
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From page 4...
... Over 23 state highway agencies provided input on the practices they use during different project development phases. A critical review of these practices formed the basis for identifying viable and successful approaches to cost estimation practice and cost estimation management.
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From page 5...
... The user is encouraged to use a strategic approach, but there are other ways to use the methods and tools presented in the Guidebook. Implementation Thrust Organization Level If cost escalation is a significant problem for an agency, changes in agency policy that influence how cost estimation practice and cost estimation management is performed may be necessary to improve the processes and provide more consistent and accurate estimates throughout project development.
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From page 6...
... Summary Cost escalation, or estimate increases, over the course of project development constitute the major problem that is addressed by this Guidebook. As projects evolve from concept to detailed development prior to construction, this problem is faced by every state highway agency, transit agency, and MPO in the country.
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Key Terms

  • cost estimation
  • project development
  • project cost
  • state highway
  • highway agency

  • project complexity
  • project scope
  • cost estimates
  • highway agencies
  • cost estimate

  • estimation management
  • estimation practice
  • preliminary design
  • cost escalation
  • complex projects

  • risk analysis
  • design phase
  • project costs
  • project estimate
  • final design

  • project estimates
  • market conditions
  • escalation factors
  • planning phase
  • management process

  • management processes
  • throughout project
  • major cost
  • development phases
  • accurate estimates


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