Title
Evaluation of the Accuracy of Capital Project Cost Estimates
Report Type Final Report 
Date Published September 2009 
Publication Number 09-8 
Mandate

2008 Supplemental Capital Budget (ESHB 2765)

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Abstract

A budget note in the 2008 Supplemental Operating Budget directed JLARC evaluate the accuracy of capital project cost (ESHB 2765). This report focuses on 10 state agencies with large capital programs and compares cost estimates prepared during project development to final costs. Review of 96 major projects completed since 2002 shows that between 71 and 74 percent of cost estimates meet expectations for accuracy.  The report finds that the processes for developing and reviewing project cost estimates at the selected agencies and OFM procedures for evaluating those estimates are consistent with professional practices. Lack of readily available, complete information on capital construction projects, however, limits both legislative and executive oversight of these projects.

Author(s)

Mark Fleming, Analyst
Ruta Fanning, Project Supervisor

360.786.5181
360.786.5175

Print Availability Request hard copy from the JLARC Publications Officer
Number of Pages 68 
Keywords capital project, construction, cost estimates 
Category State/Local Government