Managing Cost Risk and Uncertainty in Infrastructure Projects

Summary

In 2015 Infrastructure UK undertook a review of the cost of infrastructure projects in the UK and how this cost could be reduced. One workstream researched the management of cost risk and uncertainty throughout the project lifecycle, the incentive being to significantly reduce the cost of projects by curbing unnecessary spend, especially of the contingencies allocated for cost uncertainty. Crossrail was part of an industry group of major infrastructure owner operators that undertook the research. This report presents this group's output and recommendations, a package of supporting material such as tools, examples of leading practice and the plans for future improvement.

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