| This paper seeks to develop the first formal evaluation of the nature and incidence of construction cost overruns in Nevada highway infrastructure construction projects. Parametric and nonparametric comparative analyses are employed to test for the prevalence of cost overrun based on a variety of project characteristics, including construction type, location, duration, and size, to name a few. In addition, robust, logistic, and multinomial logistic regression analyses are utilized to develop marginal and probabilistic estimates of important contributors to cost overrun and the varying degrees thereof. Evidence is found that cost overrun is not endemic to [Nevada] highway infrastructure construction projects, as suggested by the literature, however certain projects are especially prone to experiencing significant cost overruns. A brief survey of the highway cost overrun literature is included, as well as a discussion of the various methods exploited. |
