Procedures Guide for Right-of-Way Cost Estimation and Cost Management (2009) / Chapter Skim
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Pages 80-87
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From page 80... ...
However, as ROW acquisition expenditures begin to occur, ROW personnel and the design team should be tracking how these actual expenditures compare with the current baseline ROW cost estimate. This comparison indicates whether the acquisition process is proceeding within the allocated budget or if there is a potential for a budget overrun or reduction.
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From page 81... ...
These assessments may lead to potential cost adjustments in the budget or a reevaluation of design effects. Before property appraisals begin, each parcel in the final ROW plan should be examined and compared with the most recent ROW requirements used to complete the latest updated ROW cost estimate.
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From page 82... ...
From Preliminary Design Updated ROW Cost Estimate Figure 7.1. Right-of-way cost management flowchart.
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From page 83... ...
However, the extent of the effort and documentation is influenced not only by the number of takes but, to a large extent, by the complexity of the individual acquisitions. Final Design and Cost Estimate Inputs The key input for the ROW Cost Management process at this stage of project development is the final ROW plans generated by the design team.
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From page 84... ...
These changes should be supported by analyses using the ROW Cost Estimating System and data found in the Updated ROW Cost Estimate File. Evaluate Potential Cost Impact Once the appraisal and acquisition process begins, actual acquisition and other expenditures are recorded against purchased parcels.
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From page 85... ...
Conversely, this step might also reflect the effect of a declining real estate market with a potential project cost savings as a result. These changes would be highlighted in the ROW Cost Estimate System and would serve to guide management decisions.
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From page 86... ...
Inputs Specific potential cost changes in the ROW budget are identified in the ROW Cost Estimate System. The Updated ROW Cost Estimate File should be the repository for documenting the basis for estimated costs to complete the acquisition of each parcel and describing the reasons for potential changes to the current ROW budget.
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From page 87... ...
Chapter Summary ROW Cost Management during Final Design was the focus of this chapter. The general process for tracking and managing actual ROW expenditures against the latest updated cost estimate (or budget)
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