Title: TRENDS IN U.S. RAIL TRANSIT PROJECT COST OVERRUN
Abstract:This paper compares the results of the Pickrell report to cost overruns of transit projects completed after 1990 to see if there has been any improvement in estimating the capital costs of rail transi...This paper compares the results of the Pickrell report to cost overruns of transit projects completed after 1990 to see if there has been any improvement in estimating the capital costs of rail transit projects in the past decade. The Pickrell’s report, published in 1990, looked at 10 rail projects built in the 1980s and reported on the cost difference between the original cost estimates and the final costs of these projects. We have compared those statistics with data from 16 recent transit rail projects. The comparison focuses only on federally funded rail projects in the United States. The characteristics of the projects and data in the 1990 study and of the “recent” projects are presented followed by a statistical comparison. We conclude that there is evidence to suggest that cost overruns for projects completed before 1990 are different from that of projects completed after 1994 (i.e., cost overruns have become smaller), but we do not have sufficient data to statistically prove this at a level of significance of 5%. In our opinion this is a positive trend. We suggest that we continue to pursue the current research by collecting data as more transit projects are completed and as more data becomes available. TRB 2006 Annual Meeting CD-ROM Paper revised from original submittal. 3 TRENDS IN U.S. RAIL TRANSIT PROJECT COST OVERRUN Nasiru A. Dantata , Ali Touran , and Donald C. SchneckRead More
Publication Year: 2006
Publication Date: 2006-01-01
Language: en
Type: article
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Cited By Count: 21
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