Airport Capital Improvements: Developing a Cost-Estimating Model and Database

Abstract

The objective of this project was to develop and test a cost estimating model and database intended for use during airport capital planning. The research team categorized and identified a range of possible types of airport construction projects, reviewed best practices for cost estimating, surveyed stakeholders to review existing cost modeling practices, developed a cost estimating methodology, collected data, and developed Cost Estimating Relationships that form the core of the cost model. The study deliverables are a guidebook to cost estimating for airport capital planning and an accompanying Microsoft Excel-based cost model. The guidebook and tool are intended to help airport operators, aviation/transportation agencies, and other stakeholders to understand cost estimating practices, including risks and sources of uncertainty. The main conclusion of the study is that parametric cost estimating methodology is a suitable approach for developing an effective cost model, but that limited data availability significantly constrains the scope and robustness of the model. This report is a companion publication to ACRP Report 120: Airport Capital Improvements: A Business Planning and Decision-Making Approach and ACRP CD- 158: ACCE: Airport Capital Cost Estimation Tool.