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By Larry Redd, P.E. Redd Engineering Report for TCCE Annual Meeting Ken Spear, P.E. WYDOT Contracts & Estimates Engineer.

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Presentation on theme: "By Larry Redd, P.E. Redd Engineering Report for TCCE Annual Meeting Ken Spear, P.E. WYDOT Contracts & Estimates Engineer."— Presentation transcript:

1 by Larry Redd, P.E. Redd Engineering Report for TCCE Annual Meeting Ken Spear, P.E. WYDOT Contracts & Estimates Engineer

2 http://www.dot.state.wy.us/files/live/sites/wydot/files/shared/Planning/Research/RS02212_1306F.pdf Reason for study Types of projects in Wyoming 1R/2R/3R/4R Understanding uncertainties and risks related to project delivery Balancing the Hurry Up Costs with Holding Costs 2

3 Getting projects into the pipeline Conflicts between over- and under- programming Holding costs vs hurry up costs Try for a balance Simulation model Dynamic because of scenario analyses Projects placed in STIP Asset management Project Selection 3

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5 Two major strategy methodologies Core Strategies Critical Project Method List of ‘on the shelf’ projects Control of Design Time Balanced budget of projects Good Estimates System & Organizational Improvement Strategies Organizational Transportation Asset Management Funding Economic Project Management Software 5

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8 3 Strategies to load pipeline Constant No futuristic assumptions Tracked Assume constant funding No assumptions with regard to avg. dollar amount over time Projected Strategies Projected projects, projected two years funding 8

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10 Two strategies for draining projects from pipeline Traditional method Targeted mix of projects Critical project method Priority to higher end projects More costly to delay higher level projects Funding Scenarios for draining pipeline LowHigh HighLow 10

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12 Conclusion Significant savings Process improvements Further research Questions?

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