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What is Cost and Risk Management in Tunneling about?
This paper introduces a risk-based methodology for estimating and managing costs in complex infrastructure and tunneling projects, specifically the Cost Estimate Validation Process (CEVP™) developed by WSDOT. The CEVP™ aims to provide a range of probable costs by incorporating risk analysis, which has shown promising results in improving cost estimation accuracy. The methodology emphasizes early risk identification and management to mitigate cost overruns and enhance project planning and execution.
- Author
- ritesh mahajan
- Language
- EN