Comparing Forecast and Actual Costs and Usage of Recent Highway and Transit Projects

This project compared actual costs and usage of recent highway and transit projects in Massachusetts (excluding the Big Dig) with what was projected when policymakers were deciding to build those projects. The aim was to assess the existence, magnitude and extent of differences between forecasts and performance and to identify the main causes of the discrepancies. The goal was to help planners develop more accurate projections so that policymakers can make more informed decisions about the allocation of limited capital funds for major projects. Such analyses are particularly important because over the next two decades Massachusetts is planning to spend over $9 billion to maintain and upgrade Boston's transit system and $4.5 billion on non Big Dig highways and roads. Ensuring that this money is spent wisely is particularly important because for a variety of reasons, the Commonwealth is not likely to have significant amounts of additional funding available if future projects have significant cost overruns or do not produce the transportation benefits projected at the time they were approved.

• Record URL:
  http://books.google.com/books/about/Comparing_forecast_and_actual_costs_and.html?id=trgkAQAAMAAJ
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• Supplemental Notes:
  • This research was sponsored by the U.S. Department of Transportation, University Transportation Centers Program.
• Corporate Authors:

  Harvard University

  Kennedy School of Government, 79 JF Kennedy Street
  Cambridge, MA  United States  02138

  New England University Transportation Center

  Massachusetts Institute of Technology
  77 Massachusetts Avenue, Room 40-279
  Cambridge, MA  United States  01239
• Authors:
  • Gomez-Ibanez, Jose A
  • Luberoff, David E
• Publication Date: 2009-4-10

Language

• English

Media Info

• Media Type: Print
• Edition: Final Report
• Pagination: 2p

Subject/Index Terms

• TRT Terms: Accuracy; Construction projects; Cost overruns; Costs; Forecasting; Highway travel; Ridership
• Uncontrolled Terms: Estimated costs; Highway projects; Transit projects
• Geographic Terms: Massachusetts
• Subject Areas: Finance; Highways; Public Transportation; I10: Economics and Administration;

Filing Info

• Accession Number: 01131364
• Record Type: Publication
• Report/Paper Numbers: Project No. HVDR18-4
• Contract Numbers: DTRS99-G-0001 (Grant)
• Files: UTC, TRIS
• Created Date: Jun 29 2009 4:46PM