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Cost Escalation Mitigation Florida DOT Approach

Cost Escalation Mitigation Florida DOT Approach. Greg Davis State Estimates Engineer October 20, 2006. Reasons for Cost Escalation. Material Prices Bidder Competition Saturated Construction Market Labor Shortages Hurricanes. Earthwork - Statewide. $4.96. $4.38 -11.7%. $7.27 +66.0%.

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Cost Escalation Mitigation Florida DOT Approach

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  1. Cost Escalation MitigationFlorida DOT Approach Greg Davis State Estimates Engineer October 20, 2006

  2. Reasons for Cost Escalation • Material Prices • Bidder Competition • Saturated Construction Market • Labor Shortages • Hurricanes

  3. Earthwork - Statewide $4.96 $4.38 -11.7% $7.27 +66.0% $8.64 +18.8% NOTE: Lump Sum, Design/Build Contracts not included in this graph

  4. Earthwork • Borrow Pit Availability • Hauling Cost • Real Estate Pressures

  5. Asphalt – Statewide $53.93 $61.63 +14.3% $77.57 +25.9% $99.54 +28.3% NOTE: Lump Sum, Design/Build Contracts not included in this graph

  6. Asphalt • Oil prices • Bitumen Prices • Aggregates

  7. Structural Concrete – Statewide $760.89 +34.9% $564.12 +2.6% $549.82 $868.90 +14.2% NOTE: Lump Sum, Design/Build Contracts not included in this graph

  8. Structural Concrete • Global Demand • Aggregates

  9. Structural Steel – Statewide $1.06 $1.57 +6.1% $1.48 +39.6% $1.72 +9.5% NOTE: Lump Sum, Design/Build Contracts not included in this graph

  10. Structural Steel • Global Demand for Steel • Fabrication Backlog • Transportation Cost

  11. Reinforcing Steel - Statewide $0.91 +21.3% $0.96 +5.5% $0.75 +44.2% $0.52 NOTE: Lump Sum, Design/Build Contracts not included in this graph

  12. Reinforcing Steel • Global Demand for Steel • Production Backlog • Transportation Costs

  13. SummaryStatewide Weighted Average Prices

  14. FDOT STRATEGIES • Deferred Projects • $1.0 Billion in projects (over 3-years) • Refine Awards Criteria • Normal Criteria • Additional Criteria • Rejected Contracts

  15. FDOT STRATEGIES • Revised Inflation Rates YearCurrentPast • 1 7.0% 4.5% • 2 4.5% 4.0% • 3 4.0% 3.5% • 4 3.5% 3.3% • 5 3.5% 3.3%

  16. FDOT STRATEGIES • Alternative Contracting Methods • Bid Alternates • Bid Options • Bid Maximum Specification

  17. FDOT STRATEGIES • Comprehensive Price Index • DOT Borrow Pits • Temporary/Portable Asphalt Plants

  18. Questions/Comments

  19. CONTACT INFORMATION Phillip “Greg” Davis, P.E. State Estimates Engineer phillipgreg.davis@dot.state.fl.us (850) 414-4170

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