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Earth Tech TRACER Presentation to the TEA/TUG Conference Mobile, AL October 10, 2004. Suite of Technology Tools. PACES (PArametric Cost Engineering System) – Co-patent with Air Force. RACER (Remedial Action Cost Engineering Requirements) – Co-patent with Air Force.
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Earth Tech TRACER Presentationto the TEA/TUG ConferenceMobile, ALOctober 10, 2004
Suite of Technology Tools • PACES (PArametric Cost Engineering System) – Co-patent with Air Force. • RACER (Remedial Action Cost Engineering Requirements) – Co-patent with Air Force. • TRACER (TRAnsportation Cost Engineering Requirements) – AASHTO-funded. • PACES-DS, and RACER-DS. • “Wrapper” Technology. Earth Tech TRACER Presentation TEA/TUG Conference October 10, 2004
Background • What is parametric cost estimating? • How can cost-based parametric cost models help? • What is the degree of accuracy? • How is the cost data generated? Earth Tech TRACER Presentation TEA/TUG Conference October 10, 2004
Improving the Estimating ProcessThat was then… • Historical / Bid-Based Approaches. • Detailed Material Take-offs. Earth Tech TRACER Presentation TEA/TUG Conference October 10, 2004
Improving the Estimating ProcessThis is now… • Parametric Model – “Conceptually, a bridge is always a bridge…” • Inputs – Parametric Model – Detailed Estimate. • Custom-Tailored Reporting Capability. Earth Tech TRACER Presentation Parsons Corporation, Denver, CO October 5, 2004
Benefits • Ensures consistent cost estimates. • Aligns scope, expectations, and budget. • Generates accurate, quantified and defensible estimates. • Allows easy alternative analysis (VE). Earth Tech TRACER Presentation TEA/TUG Conference October 10, 2004
Integration to the Construction Lifecycle Plan Design Replacement Build O & M Earth Tech TRACER Presentation TEA/TUG Conference October 10, 2004
Project Types Projects: Project Reviews (Charrettes), Programming, GASB 34, FEMA Clean-Up Estimates, Cost Model Building, Masterplanning, and Risk Mitigation Projects. Earth Tech TRACER Presentation TEA/TUG Conference October 10, 2004
Status of TRACER • AASHTO-funded. • Anticipated release in Summer ’05. • Future phases of development under review by AASHTO and other member DOTs. Earth Tech TRACER Presentation TEA/TUG Conference October 10, 2004
Thank You Kirk E. Rabius, P.E. Section Manager Kyle Knudson TRACER Product Line Manager Earth Tech TRACER Presentation TEA/TUG Conference October 10, 2004