Construction Cost and Duration Uncertainty Model: Application to High-Speed Rail Line Project

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Abstract
Transportation construction projects are often plagued by cost overruns and delays. Applying contingencies and estimating risks at the project level often do not capture the multiple uncertainties in the construction process of large transportation projects. Thus, there is a need for innovative approaches and tools to avoid large construction cost and duration overruns. To counteract such underestimations, a construction model and an uncertainty model are developed. In the construction model, the construction of the four main types of structures in rail lines (tunnels, viaducts, cuts, and embankments) is modeled bottom-up from the single activity to the entire rail line. In the uncertainty model, three sources of uncertainty (variability in the construction process, correlations between the costs of repeated activities, and disruptive events) are modeled jointly at the level of the single activity. In a Monte Carlo simulation environment, these uncertainties are propagated to the total constructio...

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