STEPS TO BETTER COST CONTROL OF TRANSIT PROJECTS

Transit projects have a reputation for being over budget and mismanaged. The bane of many project managers is defending poorly conceived budgets. Even worse is being unable to support the euphoria associated with the original budget. Even worse is being unable to support the euphoria associated with the original budget. This paper explores problems in rushing the approval of the original budget. A comparison of traditional and uncommon approaches to budget development suggests that at least 65% of final design should be complete before budget approval. The paper also reviews important characteristics of transit projects requiring special steps to control costs. Topics include: scope control; measures to monitor real estate costs; firming up soft costs; trending construction costs and managing contingency.

• Supplemental Notes:
  • Full Conference proceedings available only on CD.
• Corporate Authors:

  American Public Transportation Association

  1201 New York Avenue, NW
  Washington, DC    20005
• Authors:
  • Collins, J J
• Conference:
  • Proceedings of the 1998 Rapid Transit Conference
  • Location: San Diego, California
  • Date: 1998-6-7 to 1998-6-11
• Publication Date: 1998

Language

• English

Media Info

• Pagination: 8p

Subject/Index Terms

• TRT Terms: Budgeting; Contingency planning; Cost control; Project management; Public transit
• Subject Areas: Administration and Management; Finance; Public Transportation;

Filing Info

• Accession Number: 00769773
• Record Type: Publication
• Report/Paper Numbers: Volume 2
• Files: TRIS
• Created Date: Sep 23 1999 12:00AM