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Actions Needed to Mitigate Risks Associated with the Access to the Region's Core Project: Federal Transit Administration.
| 题名： | Actions Needed to Mitigate Risks Associated with the Access to the Region's Core Project: Federal Transit Administration. |
| 关键词： | *Transit-infrastructure-projects.;New-York; New-Jersey; Project-risks; Recommendations-; Oversight-assessments; Risk-mitigation; Risk-identification. |
| 摘要： | This report presents the results of our assessment of the Federal Transit Administration's (FTA) oversight of the Access to the Region's Core (ARC) project in New York and New Jersey-one of the largest transit infrastructure projects in the United States. Project costs are currently estimated at more than $9 billion and FTA plans to commit a total of $3 billion through its New Starts program1 -the largest amount slated to date for any transit project in that program. In August 2009, FTA approved an early systems work agreement to expedite ARC, allowing the New Jersey Transit (NJT) Corporation, the project's sponsor and manager, to incur costs of $1.35 billion, prior to meeting all Federal New Starts requirements, and initiate construction activities. FTA also awarded $130 million in American Recovery and Reinvestment Act (ARRA) funds to NJT for ARC project activities. Given the considerable investment in ARC and the risks inherent in a project of this magnitude, we evaluated FTA's oversight. Specifically, we (1) determined whether project risks were identified and strategies were implemented to mitigate the risks; (2) identified any challenges faced in ensuring sufficient funding was available for the project; and (3) assessed NJT's controls for combating fraud, waste, and abuse. To conduct our work, we evaluated FTA and NJT project documents related to costs, schedule, financing, fraud, engineering, and other issues; reviewed applicable regulations, law, and guidance; and interviewed key officials. |
| 报告类型： | 科技报告 |
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