Analysis of cost estimation disclosure in environmental impact statements for surface transportation projects |
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Authors: | Joseph Sturm Mashrur Chowdhury Anne Dunning Jennifer Ogle |
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Institution: | (1) South Carolina Department of Transportation, Columbia, SC 29202-0191, USA;(2) Department of Civil Engineering, Clemson University, 216 Lowry Hall, Clemson, SC 29634-0911, USA;(3) Department of Planning and Landscape Architecture, Clemson University, 164 Lee Hall, Clemson, SC 29634-0511, USA |
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Abstract: | Reliability in cost estimates in publicly funded projects is more important today than ever with increased governmental funding
to infrastructure projects and associated accountability requirements, but surface transportation projects, large and small,
in the United States have a legacy of cost overruns. The problems with these overruns start with the cost estimation process
before projects begin. Studies have shown that early cost estimations reflect best-case scenarios rather than realistic expectations,
and have attributed technical, economic, psychological, and political reasons for underestimation. The primary objectives
of this research were to determine how costs have been presented and updated in environmental impact statements, to identify
endemic technical problems with cost estimation during the environmental review of surface transportation projects, and to
develop recommendations for improving cost estimation and disclosure. Cost estimation methods were analyzed from the documents
of 100 projects, including draft environmental impact statements, final environmental impact statements, and records of decision.
The study concluded that the lack of guidance on how to include cost estimation in environmental review revealed itself in
the level of detail and attention given to estimating costs. Agencies omitted or included various aspects of cost estimation
randomly. Professional organizations should fill the gap of the need for specific guidance to cost estimation for environmental
review so it can evolve as a state of the practice. |
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