Another big blow on [Big] Dig price: Final cost may rise by $333M

Taxpayers who have already suffered through waste, fraud, delays and even a tragic accident from the budget-busting Big Dig are now getting a new kick in the pants: a bill as high as $333 million that has even Gov. Deval Patrick "fed up."

In financial documents to be released today, the Patrick administration will formally disclose that costs have ballooned to at least $14.798 billion and may increase by another $160 million, pending the outcome of negotiations with contractors, sources confirmed.

The cost correction comes as Patrick tries to exert more control over the project and the Turnpike Authority, whose shaky management has provoked federal probes into the project’s finances and construction quality.

Mr. K

Original projections are often wildly optimistic. However, wild optimism results in an error that is typically much less than 1000x at least in construction projects.

You wrote (with respect to the Alaska pipeline):

{
But then again, that was originally projected to cost only 10Million. Only off by 9.99 Billion. (1000 times the original cost estimate...)
}

A quick web search found

http://www.gi.alaska.edu/ScienceForum/ASF13/1334.html

{
Originally budgeted at $900 million, the pipeline cost more than $8 billion to build
}

http://menlocampus.wr.usgs.gov/50years/accomplishments/pipeline.html

{
Some statistics of interest. The initial estimated cost of installing 800 miles of buried pipeline was $900 million, and the actual cost was more than $8 billion.
}

If these sites are correct, the $10Million original projection you quote is 90-fold too low. If these sites are incorrect and your number is correct, they are 90x too high.

Your source and the ones I google’d both agree on the final cost (ca 10 billion). I’m going to go with the ca 1 billion dollar projected cost estimate.

And I would guess that future pipeline construction estimates would be substantially closer than 10x to the final costs.

Between the Mob and the Democrats I’d say that those living in Massachoosits are screwed.

Yah,you're pretty much right.I've been planning my escape for a while but now that we have a genuine Clintonista affirmative action Governor I know that before too long property values in the state will be in free fall so...North Carolina,here I come!!!

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