|
Accession Number
|
PB2013-102723
|
|
Title
|
Cost Indexing and Unit Price Adjustments for Construction Materials.
|
|
Publication Date
|
Oct 2012
|
|
Media Count
|
136p
|
|
Personal Author
|
C. E. Pierce N. N. Huynh P. Guimaraes
|
|
Abstract
|
This project was focused on the assimilation of information regarding unit price adjustment clauses, or PACs, that are offered for construction materials at the state Departments of Transportation (DOTs). It is intended to provide the South Carolina Department of Transportation (SCDOT) with the current state of the practice and a better understanding of the financial and procedural benefits and risks associated with PACs. Asphalt and fuel are the most common and traditional materials for which PACs are accepted. This report evaluates the performance of SCDOT PACs for asphalt and fuel relative to its peers. This report also includes a PAC feasibility assessment for ten materials, other than asphalt and fuel, which are consumed in construction and maintenance operations. Steel was the singular material identified as a feasible option for PAC development; there are steel PACs available at 15 other state DOTs. Recommendations are developed for a PAC that covers reinforcing steel, but not structural steel.
|
|
Keywords
|
Asphalt
Bid prices
Construction materials
Cost escalation
Department of Transportation (DOT)
Price Adjustment Clauses (PAC)
Price index
Risk mitigation
South Carolina Department of Transportation (SCDOT)
Steel
Unit price adjustments
|
|
|
Source Agency
|
Federal Highway Administration
Department of Transportation Office of University Research
|
|
NTIS Subject Category
|
43G - Transportation
85H - Road Transportation
91B - Transportation & Traffic Planning
|
|
Corporate Author
|
South Carolina Univ., Columbia. Dept. of Civil and Environmental Engineering.
|
|
Document Type
|
Technical report
|
|
Title Note
|
N/A
|
|
NTIS Issue Number
|
1305
|
|
Contract Number
|
SPR-683
|
