How can the next wave of eagerly anticipated transit builds overcome what’s become a tradition: running over budget and behind schedule? That’s the essential question researchers at the University of California in Berkeley (UC Berkeley) set out to answer, by examining case studies from five rail builds in California. Here’s the scoop.
Big Visions: Execution?
State budgets across the country are leveraging federal dollars to drive ambitious commitments to infrastructure. Executing speedy, new and sustainable means of transit are especially critical in the effort to curtail the use of fossil fuels. For these next wave transit projects to succeed, however, they must overcome the massive delays and cost overruns that have previously plagued many of the rail and tunnel projects across the country. After studying the California High Speed Rail, the San Francisco Central Subway, Los Angeles Purple Line, San Diego Mid-Coast Corridor Trolley and the BART Berryessa extension, UC Berkeley researchers developed recommendations toward speeding up future projects. As Construction Dive reports, the suggested strategies to improve both timing and budgeting include:
- Fund local transportation agencies so they can staff up and plan ahead more.
- For project leaders: build more time and cost contingency into estimates to account for potential design challenges and other issues. Also factor site-specific challenges into route design prior to setting time and cost estimates.
- Maintain project scope, and avoid adding significant, non-essential elements after the design stage.
- Break up the work into smaller contracts to increase flexibility, instead of one sprawling agreement. The Los Angeles Purple Line project was built on-time and on-budget with this method.
- Use a construction-manager-at-risk procurement method so builders can provide input on the design, like the successful Mid-Coast Corridor Trolley project used in San Diego.
- Consider advance utility relocation contracts to expedite utility-related work in tunneled areas and around stations.
Ready to go—and grow? Across the country, contractors are gearing up for the increasing flow of public contracts by leveraging The Partnership Account® from Colonial Surety. In addition to a surety line of credit—in writing, The Partnership Account® gives qualified construction companies:
- Control of bidding and bonding, online and in real time.
- Powers of attorney to seal and issue their own bid bonds—in minutes.
- Fast, direct, confidential bid bonds—no middleman.
- Direct access to performance and payment bonds on a customized dashboard.
- Real time tracking of bids and work on hand.
- Immediate access to Colonial’s lead underwriter as new opportunities emerge.
- A private Owner’s Dashboard to view surety lines, adjust work and analyze bids.
Learn more and pre-qualify for a Partnership Account® now!
Innovative Builds Underway
Eagerness for action is in the air—and indeed, builders across the country are already busy constructing the future. For example, the new Howard Frankland Bridge between Tampa and St. Petersburg, slated for completion by the end of 2025, is being designed to support new transit options, including light rail and high speed buses. There’s potentially even a dedicated lane for autonomous vehicles—and bikers and pedestrians are not forgotten.
San Antonio, is poised to begin work on a high speed loop that will connect San Antonio International Airport to its burgeoning downtown. As details are fine tuned, project estimates are approximated at $247-289 million. Ever wished you could zip straight from the dessert to the ocean? It could happen: After years on the planning table, a high speed train line connecting Las Vegas and Los Angeles might see daylight—and soon. Builders say the $8 billion dollar construction could even start in 2023. Not to be outdone, the East Coast is hoping to speed up travel on the Interstate 95 corridor with a superconducting magnetic levitation train that could move passengers along at speeds of 311 miles per hour.
Buckle up: soon your business might be moving faster than you thought possible. Colonial Surety is here to help. We underwrite construction companies based on the power of their financial statements, giving qualified builders power of attorney to issue their own bid bonds, and more. Let’s think big—and act fast—together. Complete the pre-qualification for your written surety-line of credit and The Partnership Account® services today—and receive, for free, Dun & Bradstreet scores.
Pre-Qualify and Get Free Scores Here.
Founded in 1930, Colonial Surety Company is a leading direct seller and writer of surety bonds and insurance products across the USA. Colonial is rated “A Excellent” by A.M. Best Company and U.S. Treasury listed.