US government buys a new way to estimate construction costs for federal projects

The US government just bought a subscription to a commercial database for construction cost estimates. This means federal agencies will use a standardized, up-to-date tool to plan and budget for building projects.

Federal agencies often struggle with accurate cost estimation for construction, leading to budget overruns and delays. By adopting a commercial, regularly updated dataset, the government aims to improve the reliability of its project planning. This move could streamline procurement and reduce financial surprises for taxpayers.