Cost Estimating Manual for Projects
WSDOT Cost Estimating Manual for Projects M 3034.03 Page i
April 2015
Foreword
WSDOT’s vision is to be the best at providing a sustainable and
integrated multimodal transportation system. Its mission is
to provide and support safe, reliable, and cost-effective
transportation options to improve livable communities and
economic vitality for people and businesses.
This update to the WSDOT Cost Estimating Guide is part of an
ongoing process to keep technical information relevant and
current, as well as provide consistency with the department’s vision.
More of an art than a science, cost estimating requires a thorough understanding
of project scope, past price history, and current market conditions, as well as with
a generous application of human judgment.
Key goals of the estimating process described in this manual include:
1.
Departmentwide priority on estimating, managing, and controlling costs:
•
Fully developed and integrated policies, processes, and tools for cost
estimation, management, and control
•
Baseline estimates that align with early project scope development
and include an initial assessment of uncertainty
•
Clearly defined and documented cost management endorsement
processes to authorize changes in scope and cost after the baseline
estimate is established
•
Dedicated resources that are focused on effective scoping, project
cost estimating, and cost management
2.
Reliable and accurate estimates:
•
Well-documented and complete cost estimates
•
Clearly spelled-out assumptions, risks, and uncertainties that can
be easily communicated
3.
Statewide uniformity and consistency:
•
Uniform application and consistent statewide use of well-documented
processes, tools, and templates
•
Use of processes and tools during the planning, scoping, design, and
letting phases
Estimators should
be shielded from
pressures to keep
estimates within
desired amounts.
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