Decision Sciences
8 years ago

Construction projects in Washington State face increasing cost overruns with size.

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Transportation Research Record Journal of the Transportation Research Board
COST OVERRUNS ON STATE OF WASHINGTON CONSTRUCTION CONTRACTS
Jimmie Hinze, Gregory Selstead, Joe P. Mahoney

Paper Summary

Construction projects in Washington State often go over budget. A study looked at 468 projects for the Department of Transportation to find out why. They found that bigger projects tend to have more cost overruns. Also, when there are more bidders and their bids are far apart, the chances of going over budget increase.

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