| Abstract: | The Highway Cost Index (HCI) Estimator Tool is used to analyze existing construction item cost information that TxDOT provided to estimate a future HCI. The resulting model will allow for the adjustment of funding forecasts to possible purchasing power, which will then bolster revenue forecasting. To meet such goals, the TTI researchers completed several ojectives. The HCI Estimator Tool allows users to estimate a future HCI figure based on their knowledge of current market trends, The tool lets the user to run various scenarios resulting in different possible outcomes. By using the HCI estimate, policy makers can approximate changes in the purchasing power of revenue slated for highway construction or maintenance. Moreover, changes to project costs can be taken into consideration. Being aware of how much construction a dollar can buy under the estimated scenario could make for better planning and allocation of limited future infrastructure. |
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