Risk-Based Engineers Estimate

摘要: The review of any bid depends on the reliability estimate it is being compared to, making estimates an essential element in project approval process. Thus, departments transportation (DOT) should put great effort estimates’ preparation as under-estimating can lead to delays, while over-estimating leads inefficient use funds. Since delivering more lump sum projects Engineering Services Division strategic initiative Minnesota Department Transportation (MnDOT) and since items are often difficult price, becomes important develop effective practice for consistent cost estimating. Risk-based estimating combines both risk management traditional that includes project’s (Anderson et al. 2007). thus serves excellent technique generates reliable estimates. objective this research to: (1) Conduct literature risk-based (2) state-of-practice used by DOTs other construction organizations. (3) Based conducted, give recommendations how these practices be incorporated into MnDOT's business practice. reached through anticipated help MnDOT team get a better understanding estimating, could employed estimation