A cost performance analysis of transport infrastructure construction in Slovenia |
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Authors: | Dejan Makov?ek Polona Tominc Klavdij Logo?ar |
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Institution: | (1) Risk Advisory Services, KPMG business advisory, Ltd, Zelezna cesta 8a, 1000 Ljubljana, Slovenia;(2) Faculty of Economics and Business, University of Maribor, Razlagova 14, 2000 Maribor, Slovenia;(3) Institute for Operations Research, Razlagova 14, 2000 Maribor, Slovenia;(4) Institute of Transport and Business Logistics, Razlagova 14, 2000 Maribor, Slovenia |
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Abstract: | Due to limited data availability only a few studies have been able to provide statistically significant evidence on cost overruns
in transport infrastructure investments and their systematic nature, and fewer still for road infrastructure investments.
The body of available evidence refers to the most economically developed countries, while very little evidence was found regarding
other countries. In this article the authors focus on cost performance of road infrastructure constructed through the National
Motorway Construction Programme in Slovenia. Methodologically the study departs from other studies in this field by building
on detailed expenditure data and not aggregate reports from the relevant institution. This enabled the analysis of four individual
project cost categories (construction cost, land acquisition damages and others) and comparably more accurate results. A representative
sample of randomly selected completed projects in the period 1995–2007 revealed that the cost overruns (19%; SD = 46.10%)
in the entire period studied do not appear to be higher than in other comparable studies. At the same time the study results
showed that cost overruns were unstable, i.e. much higher for older projects. |
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