New Audit Announcements
Audit initiated on cost estimating oversight for major highway and transit projects
July 26, 2004
We announced an audit of Federal Highway Administration (FHWA) and Federal Transit Administration (FTA) oversight of cost estimating activities on major highway and transit projects. The objectives of this audit are to: (1) determine frequent factors that cause cost estimates to be unreliable, (2) evaluate efforts to improve cost estimating guidance, and (3) identify opportunities to improve oversight of project sponsor processes and procedures for preparing credible cost estimates.