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Risk-Based Engineers Estimate.
| 题名： | Risk-Based Engineers Estimate. |
| 作者： | Shane, J. S.; Strong, K. C.; Gad, G. M. |
| 关键词： | Transportation planning, Project estimates, Transportation projects, Bids, Reliability, Strategic planning, Cost estimates, Risk assessment, Minnesota, Risk-based estimating |
| 摘要： | The review of any bid depends on the reliability of the estimate it is being compared to, making estimates an essential element in the project approval process. Thus, departments of transportation (DOT) should put great effort in the estimates’ preparation as under-estimating can lead to project delays, while over-estimating leads to inefficient use of funds. Since delivering more lump sum projects is an Engineering Services Division strategic initiative in MnDOT and since lump sum items are often more difficult to price, it becomes important to develop an effective practice for consistent cost estimating. Risk-based estimating combines both risk management and traditional cost estimating to develop an estimate that includes the risk in the project’s cost. Risk-based estimating thus serves as an excellent estimating technique that generates reliable estimates. The objective of this research is to: Conduct literature review of risk-based estimating; Conduct state-of-practice review of risk-based estimating used by DOTs and other construction organizations; and Based on the state-of-practice and literature review conducted, give recommendations on how these practices can be incorporated into MnDOTs business practice. The recommendations reached through this research are anticipated to help the MnDOT estimating team get a better understanding of risk-based estimating, and how it could be employed in the MnDOT estimation process. |
| 总页数： | Shane, J. S.; Strong, K. C.; Gad, G. M. |
| 报告类型： | 科技报告 |
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