FTA could improve rail project cost info, GAO says

Rail News Home Federal Legislation & Regulation 7/30/2019 Rail News: Federal Legislation & Regulation
The Federal Transit Administration (FTA) could improve upon the information it uses when estimating the cost of transit-rail projects, according the U.S. Government Accountability Office (GAO) recommended in a report earlier this month.The report found that FTA's cost estimating information substantially or fully met only seven of the 12 cost estimating steps outlined in the GAO's "Cost Estimating and Assessment Guide."The GAO recommended that the FTA's process be consistent with the guide's 12 steps and provide a central, accessible source of cost-estimating information for project sponsors, according to a GAO summary of the report.Types of factors that affect transit-rail project construction costs include project design decisions; site characteristics; project execution; general and local market conditions; community and political environment; and legal requirements, according to the GAO."By improving the content and organization of cost estimating information, FTA would help project sponsors increase the reliability of their cost estimates and reduce the risk of cost overruns," the report's summary stated.The full report may be read by clicking on this link.