Enhanced Accounting for Item Cost Variability in AASHTOWare Project Software

Will Reichard and Randall Guensler

Institute of Transportation Studies, Working Paper Series from Institute of Transportation Studies, UC Davis

Abstract: This study applies bootstrap analysis to historic transportation project item cost data to develop improved estimates of item costconfidence bounds for use in transportation project cost uncertainty analysis (a component of lifecycle analysis). Bootstrap regression results of confidence bounds will then be integrated into AASHTOWare Project Cost Estimator so that Monte Carlo procedures can estimate project-level confidence intervals for use in lifecycle project cost analysis and transportation capital planning. Data and functions contained within AASHTOWare (a cost estimation software licensed to the Departments of Transportation for over 40 states and the District of Columbia) are employed in the analyses. Coordinating with the Georgia Department of Transportation to obtain a research license for AASHTOWare took longer than expected, resulting in projectdelays. This report summarizes the work completed to date and describes the remaining steps required to finish the study and for the primary author to publish a final dissertation. View the NCST Project Webpage

Keywords: Engineering; Construction projects; Cost accounting; Cost estimating; Life cycle analysis; Transportation planning; Uncertainty (search for similar items in EconPapers)
Date: 2024-08-01
New Economics Papers: this item is included in nep-ppm and nep-tre
References: View complete reference list from CitEc
Citations:

Downloads: (external link)
https://www.escholarship.org/uc/item/5xj9b8jm.pdf;origin=repeccitec (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:cdl:itsdav:qt5xj9b8jm

Access Statistics for this paper

More papers in Institute of Transportation Studies, Working Paper Series from Institute of Transportation Studies, UC Davis Contact information at EDIRC.
Bibliographic data for series maintained by Lisa Schiff ().