Cost risk analysis: A tool for developing accurate cleanup cost estimates
- Civil Engineering Research Foundation, Washington, DC (United States)
- ABB Environmental Services, Inc., Arlington, VA (United States)
During the yearly budgeting process, the US Environmental Protection Agency (EPA), State regulatory agencies, and the Department of Defense (DoD) are responsible for fiscal planning and funding projections for hazardous waste site cleanups within the Superfund program. Typically, the agencies use cost estimates developed by contractors and independent government estimates (IGEs) as the basis for the government`s cleanup budget. However, the agencies often find that cleanup budgets established in this manner are insufficient to cover actual cleanup costs at sites. This is because RA cost estimates are typically developed like cost estimates for traditional construction projects, which is often inappropriate for most Superfund RAs because of the uncertainty associated with many cleanup actions. With DoD, EPA, and the states facing flat or shrinking budgets for cleanup actions, there is increasing pressure on those parties responsible to develop accurate cost estimates that reflect the uncertainties and contingencies inherent in the design and construction of a remedial action (RA) for a contaminated site. This paper introduces cost risk analysis as a tool for developing more thorough and accurate RA cost estimates.
- OSTI ID:
- 488859
- Report Number(s):
- CONF-9610152--
- Country of Publication:
- United States
- Language:
- English
Similar Records
Hazardous waste site investigation and cleanup: Innovative technologies, an alternative approach
Clearer EPA superfund program policies should improve cleanup efforts