Inflation, supply chain disruptions and labor shortages are sending costs for early designs soaring on Colorado’s I-70 Floyd Hill project.
, Kraemer North America, as design work continues. The figure includes the pricing out of all components sketched out by CDOT officials just two years ago, along with contingencies for price spikes and other emerging risks, said Kurt Kionka, CDOT’s Floyd Hill project director.
“You’re trying to find out where the dip is and where the spike is, and that’s the real challenge for project managers across the country,” said Zac Rogers, an assistant professor of supply chain management at Colorado State University. He sees inflation as a lingering concern, even if it backs off recent 40-year highs; the federal consumer-price index hit 8.5% in March, compared to a year earlier.
Rogers points out that a factor in all material prices — the cost of transporting them — has increased along with the price of diesel fuel, thanks in part to pandemic fluctuations and the market havoc wreaked by Russia’s invasion of Ukraine.A project rendering shows a widened and rebuilt Interstate 70 heading east up Floyd Hill. This stretch is part of the first of three stages of the $700 million project, which could break ground in early 2023.
That setup is controversial among some Colorado lawmakers because it has favored large construction companies on big projects. But it provides more design flexibility before a project breaks ground. And Colorado has readier access to some locally sourced road-construction materials, such as rock and aggregate, that haven’t seen prices surge as much.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
70% of Texas counties have more gun dealers than mental health providers, I-Team findsAccording to the 2022 State of Mental Health in America report, Texas ranked last out of all 50 states and the District of Columbia for overall access to mental healthcare.
Read more »
Luna 2.0 Off to Rocky Start, Plunging More Than 70%Do Kwon predicts that Luna 2.0 will be bigger than the original project, which impoverished a huge number of investors
Read more »
UK to hold days-long bash to celebrate queen's 70-year reignBritain is getting ready for a party featuring mounted troops, solemn prayers — and a pack of dancing mechanical corgis.
Read more »
UK to Hold Days-Long Bash to Celebrate Queen's 70-Year ReignBritain is getting ready for a party featuring mounted troops, solemn prayers — and a pack of dancing mechanical corgis. The nation will celebrate Queen Elizabeth II’s 70 years on the throne this week with four days of pomp and pageantry in central London.
Read more »
I'm a Deal Hunter, and These Are 70+ Sale Items to Shop For Memorial Day WeekendOur editors curated a shopping guide to the best clothes on sale for Memorial Day weekend. You'll find dresses, shoes, swimsuits, activewear, and more.
Read more »
Queen Elizabeth's 70 years on the British throneBritain's Queen Elizabeth will lead four days of national celebration in June to mark her Platinum Jubilee.
Read more »