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Construction Cost at Award
as a Percent of Construction Budget
 

Monthly Cumulative Construction Cost at Award
as a Percent of Construction Budget
— Federal Fiscal Year 2012—

gauge

Maintain total construction costs
at the time of contract award within
10 percent of the programmed amount
at the beginning of the fiscal year.

Why This Is Important

Stakeholders and the public expect ITD to deliver all highway projects to construction that are programmed each year. This requires projects to be delivered within budget. Projects on which costs at contract award are as close as possible to the project programmed amount allow ITD to better invest limited funding and maximize benefits.

 

ITD totals the construction costs of projects awarded in the fiscal year and compares them to the total construction budget programmed at the beginning of the fiscal year for the same projects. GARVEE projects are reported separately.

 

ITD employs value engineering and practical design principles to ensure projects provide the benefits desired at the lowest practical cost. ITD closely monitors construction bids and price trends to keep construction estimates accurate. Collectively, these methods allow more projects to be provided at or under the programmed amount.

 


— CURRENT STATUS —
Construction Cost at Award as a Percent of Construction Budget

FFY11 - 72% 77% 74% 76% 73% 76% 78% 78% 85% 86% 86%
 

Oct.

Nov.

Dec.

Jan.

Feb

Mar.

Apr.

May

Jun.

Jul.

Aug.

Sep.

NOTE: No projects were awarded in October 2010 or in October and November 2011.



Annual Construction Cost at Award as a
Percent of Construction Budget

 

bar chart

GARVEE Projects not included.  

 


 

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Page Last Modified: 7/9/2012 11:52:23 AM

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Idaho Transportation Department
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Boise, ID 83707-1129