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Suggested Citation:"Abbreviations and Acronyms." National Academies of Sciences, Engineering, and Medicine. 2020. Improving Mid-Term, Intermediate, and Long-Range Cost Forecasting for State Transportation Agencies. Washington, DC: The National Academies Press. doi: 10.17226/25974.
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Page 78

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71 Abbreviations and Acronyms AASHTO American Association of State Highway Transportation Officials BMP Bridge Management Program CCI Construction Cost Index CDOT Colorado Department of Transportation CPI Consumer Price Index DelDOT Delaware Department of Transportation EAP Expert Advisory Panel FHWA Federal Highway Administration IRP Intermediate-Range Plan LRTP Long-Range Transportation Plan MAD Median Absolute Deviation MAPE Mean Absolute Percentage Error MCCI Multilevel Construction Cost Index MFE Moving Forecasting Error MnDOT Minnesota Department of Transportation NCHRP National Cooperative Highway Research Program NHCCI National Highway Construction Cost Index PCE Personal Consumer Expenditures PMP Pavement Management Program STA State Transportation Agency STIP State Transportation Improvement Program TAMP Transportation Asset Management Program TCCE AASHTO Technical Committee on Cost Estimating TIP Transportation Improvement Program

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Improving Mid-Term, Intermediate, and Long-Range Cost Forecasting for State Transportation Agencies Get This Book
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 Improving Mid-Term, Intermediate, and Long-Range Cost Forecasting for State Transportation Agencies
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Predicting the future of the construction market is always a challenging task - regardless of whether it is over the next one or 20 years - since it involves several uncertainties.

The TRB National Cooperative Highway Research Program's NCHRP Web-Only Document 283: Improving Mid-Term, Intermediate, and Long-Range Cost Forecasting for State Transportation Agencies documents the research that led to the development of a Cost Forecasting Approach Selection Framework that can assist state transportation agencies to select and implement effective mid-term (3 to 5 years), intermediate-range (up to 15 years), and long-range (more than 15 years) cost forecasting procedures.

Supplemental information to the technical report includes NCHRP Research Report 953: Improving Mid-Term, Intermediate,and Long-Range Cost Forecasting: Guidebook for State Transportation Agencies, a presentation, and videos.

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