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Procedures Guide for Right-of-Way Cost Estimation and Cost Management (2009) / Chapter Skim
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Pages 177-179

The Chapter Skim interface presents what we've algorithmically identified as the most significant single chunk of text within every page in the chapter.
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From page 177...
... Contingency: An estimate of costs associated with identified uncertainties and risks, the sum of which is added to the Base Estimate to complete the Project Cost Estimate. Contingency is expected to be expended during the project development and construction process.
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From page 178...
... In the United States, just compensation must be paid for private property acquired for federally funded programs or projects. Estimate Basis: A documentation of the project type and scope for each Cost Estimate, including items such as drawings that are available (defining percent engineering and design completion)
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From page 179...
... Total Cost Estimate: The sum of the Base Cost Estimate and Contingency. Whole Taking: An acquisition that involves the taking of the original parcel in its entirety.
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Key Terms

  • cost estimate
  • project development
  • cost estimation
  • cost management
  • base estimate

  • cost estimating
  • project cost
  • estimate basis
  • procedures guide
  • project scope

  • project complexity
  • risk analysis
  • baseline cost
  • project management
  • base cost

  • project design
  • forecasted cost
  • project costs
  • risk identification
  • set contingency

  • identified risks
  • total cost
  • ect cost
  • project budget
  • eminent domain

  • estimate cost
  • scope changes
  • design completion
  • risk register
  • actual expenditures


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