Cost risk assessment

Project risk management guidance

Refer to the Project Risk Management Guide (PDF 11.5MB) for CRA-CEVP workshop guidelines.

Refer to the Cost Risk Estimating Management (CREM) Glossary (PDF 942KB) to clarify vocabulary used in cost estimating management.

Use the following documents to:

Identify and assess risk within projects

• Qualitative Risk Assessment Spreadsheet (XLSX 960KB)
• Risk Breakdown Structure (PDF 114KB)
• Project Risk Analysis Model (XLSM 5.17MB)
• Project Risk Analysis Model Users Guide (PDF 3MB)

Initiate and conduct a CRA or CEVP workshop

• Workshop Request Form (DOC 41KB)
• Prep-Session Agenda Sample (DOC 56KB)
• Workshop Agenda Sample (DOC 85KB)
• Participation Matrix (XLS 52KB)

Report CRA or CEVP workshops

• Official project one-page template (DOC 175KB)
• Table of contents of a sample report (DOC 211KB)
• Risk Workshop Report Summary - Data Reporting / Entry Form XLSX 50KB)

Estimating

Refer to these guidance and estimating documents to support the estimating for your projects.

• Life Cycle Cost Analysis (LCCA) Model (XLSM 865KB)
• Life Cycle Cost Analysis (LCCA) Model User's Guide (DOCX 18KB)
• Weighted Summation Model (WSM) (XLSM 137KB)
• Weighted Summation Model (WSM) User's Guide (DOCX 21KB)
• Determining Unit Bid Item Cost (XLSM 1.73MB)
• Steel Cost Worksheet (XLSX 29KB)

Use these resources for clarity on your estimating projects.

• Cost Estimating Manual for WSDOT Projects
• Basis of Estimate Form (DOCX 26KB)
• Estimate Order of Calculations, Tax Rates, 700 & 800 Items (PDF 19KB)
• Estimating template for DB and DBB projects (XLSM 621KB)
• Estimate Checklist (DOCX 16KB)

View the awarded Design-bid build contracts. The award to estimate with average number of bidders by month.

• Award to Estimate Report for the 3rd quarter of 2024 (PDF 514KB)
• Award to Estimate Report for the 2nd quarter of 2024 (PDF 482KB)
• Award to Estimate Report for the First Quarter of 2024 (PDF 457KB)
• Award to Estimate Report for 2023 (PDF 1619KB)
• Award to Estimate Report for 2022 (PDF 1.4MB)
• Award to Estimate Report for 2021 (PDF 1MB)

Software

There are multiple software programs to help with your estimating needs.

EBASE - flexible, user friendly system for developing estimates for your projects. You may use this system throughout the entire development of a project. The estimates module will take you from project definition estimates to the PS&E phase, and the bids module will continue the process through advertisement, bid opening and award. Review the Self-Study on Ebase (PDF 847KB) for general information on the system.

Bid Tabs Pro (Oman Systems) - software provided by a private company using Bid Tabulation data from EBASE. It analyzes all Standard Bid Item and Contractor bid data for contacts let by WSDOT. It makes this data available with a multitude of predefined query areas and creates reports or exports to excel the results based on those queries.

Unit Bid Analysis provides a good starting point for determining Bid Item costs. The Unit Bid Analysis information provided is a good place to start, but each project is different and there are many factors that need to be considered to develop an accurate estimate using historical bid prices.

For contracts using the Asphalt Cost Price Adjustment General Special Provision, use the cost calculation for Asphalt Cost Price Adjustment (XLSX 17KB) (General Special Provision 5-04.5.OPT2.GR5) to calculate the amount needed for Standard Item 5837, Asphalt Price Adjustment. This amount will change as the Asphalt Binder Reference Cost Index changes, so frequent updates are recommended. Download the worksheet each time you use it so that you have the latest version. Please refer to the instruction sheet (PDF 498KB) about estimating cost adjustments for HMA and CRS.

For contracts using the Cost Price Adjustment Special Provision, use the cost calculation for CRS-2P Cost Price Adjustment (XLSX 17KB) (General Special Provision 5-02.5.OPT3.GR5) to calculate the amount needed for Standard Item 005294, CRS-2P Cost Price Adjustment.

Specialty groups

See guidance on preparing bridge cost estimates (PDF 2.5MB) and specifications.

The FHWA established a Highway Construction Cost Increases and Competition Issues web page to share information regarding increasing construction costs.

Multimodal Planning has created an access based Planning Level Cost Estimating package.

If your community is considering building a new bicycle facility, you can use the Benefit-Cost Analysis of Bicycle Facilities (PDF 4.4MB) to estimate costs, the demand in terms of new cyclists, and measured economic benefits (e.g., time savings, increased livability, decreased health costs, a more enjoyable ride).

Industry resources

RS Means publishes guides for construction cost estimating. Check out their heavy civil guide (includes highways and roads)through the WSDOT library.

The Associated General Contractors provides news for contractors and the construction industry. It is a good resource for gaining an idea of market conditions from the contractor’s perspective.

S&P Global is another resource regarding market conditions, but leaning more towards the state of commodities, oil, steel, etc.

Estimating Forms
232-007A Design Calculation (PDF 114KB)
230-031 Bridge Quantities (PDF 294KB)
230-040 Cost Estimate Summary (PDF 159KB)

Find your region Value Engineering & Cost Risk Assessment coordinators