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Conceptual cost estimating of urban railway system projects

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2005
Öntepeli, Mehmet Bahadır
Conceptual cost estimates play a crucial role on initial project decisions although scope is not finalized and very limited design information is available during early project stages. At these stages, cost estimates are needed by the owner, contractor, designer or the lending organization for several purposes including; determination of feasibility of a project, financial evaluation of a number of alternative projects or establishment of an initial budget. Conceptual cost estimates are not expected to be precise, since project scope is not finalized and very limited design information is available during the pre-design stages of a project. However; a quick, inexpensive and reasonably accurate estimate is needed based on the available information. In this study, conceptual cost estimating models will be developed for urban railway systems using data of projects from Turkey. The accuracy of the models and advantages of the study will be discussed.