Commonwealth Transportation Board briefed on why construction estimates are increasing
Charlottesville Community Engagement is a newsletter and podcast that tries to keep up with how much it costs to build things, a major factor in the provision of infrastructure. The Virginia Department of Transportation also keeps an eye on changing trends as part of an effort to deliver services more efficiently. This comes out of a 2020 study by the firm of Ernst and Young who took a lot at the methodology VDOT uses to estimate the cost of projects and the way it bids them.
The Commonwealth Transportation Board got a briefing at their meeting on Tuesday, October 25.
“Ernst and Young made several recommendations to the Department and one of those recommendations was to constantly keep up with the economic items including inflation and commodities in our bidding process throughout the year, which is historically something VDOT has not done,” said Bart Thrasher, VDOT’s chief engineer.Read more