Ep. 34: 6 Steps to Developing Better Planning-Level Transportation Project Cost Estimates

Episode Summary: Listen to national experts and certified planners, Keli Kemp, Kirsten Mote, and Matt Reeves with Modern Mobility Partners, talk about what planners can do to develop better planning-level transportation cost estimates. Listeners will learn the following in Episode 34:

• How better planning level cost estimates help in the transportation planning process, including:
  • Reduce time needed to develop cost estimates through a reliable and standardized methodology
  • Instill confidence in long-term programming of transportation plans
• General overview of steps to developing a planning-level cost estimate process, including:
  • Review national best practices and current internal procedures
  • Analyze historical costs and beta test the process
  • Apply cost estimates and incorporate USDOT Benefit-Cost Analysis Guidance

Links:

• Federal Highway Administration (FHWA) offers a wealth of knowledge on best practices for processes, guidance, and additional resources for cost estimation of major projects. https://www.fhwa.dot.gov/majorprojects/cost_estimating/
• National Highway Construction Cost Index (NHCCI) includes an interactive dashboard and pricing index that can be used to analyze historical cost trends associated with highway construction projects. https://www.fhwa.dot.gov/policy/otps/nhcci/
• United States Department of Transportation (USDOT) Benefit-Cost Analysis Guidance for Discretionary Grant Programs provides an overview of how to calculate benefit-cost ratios of major transportation projects, particularly when applying for federal grant opportunities. https://www.transportation.gov/mission/office-secretary/office-policy/transportation-policy/benefit-cost-analysis-guidance
• Federal Transit Administration (FTA) also offers guidance for establishing reliable baseline cost estimates for major capital transit project delivery. https://www.transit.dot.gov/regulations-and-guidance/cost-estimation-fta-funded-transit-projects
• United States Government Accountability Office (GAO) provides general guidance on key considerations for developing cost estimation processes and a 12-step methodology for implementation. https://www.gao.gov/assets/710/706933.pdf

Co-Hosts:

• Keli Kemp, AICP, PTP has 25 years of experience in transportation planning and consulting and co-founded Modern Mobility Partners in early 2018 with Jennifer Zhan. Keli holds a M.S. degree in Urban Planning from Texas A&M University.
• Kirsten Mote, AICP has 15 years of experience in transportation planning and is certified by MIT Media Lab’s Beyond Smart Cities program. Kirsten is an Associate Vice President and Director of Smart Mobility Planning with Modern Mobility Partners. Kirsten holds a Master’s degree in City and Regional Planning from Georgia Institute of Technology.

Guest Speaker:

• Hunter Abel, AICP has seven years of experience in transportation planning with previous experience in developing cost estimation tools for state DOTs and transit service planning. Hunter is a Transportation Planner with Modern Mobility Partners and holds a Master’s degree in City and Regional Planning from Georgia Institute of Technology.

Modern Mobility Partners is an Atlanta-based women and minority-owned transportation planning and traffic engineering consulting firm.  Service areas include smart mobility and transportation planning, demand modeling and traffic engineering, and data analytics and visualization.

If you are interested in learning more about Modern Mobility Partners, please visit www.modernmobilitypartners.com. 

To obtain AICP CM credits, search for “Modern Mobility Partners” in the https://planning.org AICP CM portal to find all episodes.