Construction Cost at Award as a Percent of Budget
Benchmark: Maintain Cumulative Construction Cost at Award within 10% of Budget
Construction Cost at Award as a Percent of Budget 104% |
Why This Is Important Stakeholders and the public expect ITD to deliver all highway projects to construction that are programmed each year. This requires projects to be delivered within budget. Projects on which costs at contract award are as close as possible to the project programmed amount allows ITD to better invest limited funding and maximize benefits. How We Measure It ITD totals the construction costs of projects awarded in the fiscal year and compares them to the total construction budget programmed at the beginning of the fiscal year for the same projects. GARVEE projects are not included. What We're Doing About It ITD employs value engineering and practical design principles to ensure projects provide the benefits desired at the lowest practical cost. ITD closely monitors construction bids and price trends to keep construction estimates accurate. Collectively, these methods allow more projects to be provided at or under the programmed amount. |
Construction Costs at Award as a Percent of Budget
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Note: GARVEE projects not included. |
Cumulative Construction Costs at Award as a Percent of Budget
Oct | Nov | Dec | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
FFY 2024 | ||||||||||||
FFY 2013 | 95% | 92% | 90% | 89% | 92% | 93% | 96% | 99% | 99% | 102% | 103% | 102% |
FFY 2014 | 104% | 103% | 101% | 92% | 87% | 100% | 100% | 100% | 99% | 98% | 98% | 98% |
FFY 2015 | 92% | 79% | 80% | 81% | 88% | 86% | 87% | 87% | 88% | 88% | 89% | 89% |
FFY 2016 | 99% | 97% | 97% | 96% | 99% | 99% | 90% | 89% | 89% | 91% | 91% | 91% |
FFY 2017 | 82% | 82% | 86% | 78% | 81% | 89% | 91% | 96% | 96% | 97% | 99% | 99% |
FFY 2018 | 90% | 92% | 92% | 89% | 89% | 89% | 92% | 95% | 95% | 96% | 97% | 97% |
FFY 2019 | 98% | 103% | 101% | 99% | 100% | 102% | 102% | 102% | 103% | 104% | 104% | 104% |
FFY 2020 | 98% | 98% | 94% | 95% | 94% | 93% | 96% | 103% | 104% | 103% | 103% | 103% |
FFY 2021 | 86% | 84% | 86% | 87% | 87% | 85% | 87% | 88% | 88% | 87% | 87% | 87% |
FFY 2022 | 91% | 92% | 95% | 95% | 96% | 96% | 97% | 103% | 105% | 106% | 111% | 111% |
FFY 2023 | 110% | 94% | 96% | 90% | 91% | 96% | 104% | 104% | 104% | 104% | 104% | 104% |