Monday, November 23, 2009

Report on the Accuracy of Cost Estimates for Capital Projects

The Washington State Joint Legislative Audit and Review Committee (JLARC) issued a 73 page report in late September 2009 publishing their findings on the accuracy of cost estimates for capital projects for ten state agencies. The study looked at projects over $5 million.

The report concluded that "a large majority of capital project cost estimates reviewed meet professional expectations for accuracy," and that the cost estimating practices used by the agencies was consistent with professional standards.

To read the report,
click here.

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