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Correlating the Quantity and Bid Cost of Unit Price Items for Public Road Projects
Pramen P. Shrestha,Nipesh Pradhananga,Nirajan Mani 대한토목학회 2014 KSCE Journal of Civil Engineering Vol.18 No.6
In the United States, the majority of public road projects are constructed using the Design-Bid-Build (DBB) method. DBB projectsare procured by government agencies typically through the competitive bidding process. In DBB projects, the early estimates ofprobable cost of road projects is one of the major factors in making decision regarding which projects proceed to the bidding stage. The final cost of the project will be fixed based on the bid amount of the contractor. If the cost of the project can be estimated basedon the bid cost from the historical data, the estimated amount will be more accurate. This study attempted to determine the bid cost ofprojects by analyzing the bid data of 151 DBB road projects undertaken by the Clark County Department of Public Works insouthern Nevada from 1991 through 2008. The total value of construction was equivalent to $841 million when converted into a June2011 base cost. This study developed regression models to predict a future project’s bid cost of unit price items, based on thequantities of items. The validation of models also showed that these models predicted the unit bid cost accurately. These models willassist in assessing the effect of quantity in accurately estimating the cost of the unit price items and reduce variances that result inlarge discrepancies between engineers’ estimates and actual bid-award amounts.
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