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PA RT 1 Guidebook
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CONTENTS 5 Introduction 6 Chapter 1 What Are Soft Costs and Why Do They Matter? 7 Chapter 2 How and Who This Guidebook Helps: Audience and Circumstances 8 Chapter 3 What Are Soft Costs? 8 Standard Cost Categories 8 Definition of Soft Costs 9 What Are the Components of Soft Costs? 10 Timing of Soft Costs 10 Typical versus Less Typical Soft Costs 11 Issues in Categorization 11 What Soft Costs Are Not: It Depends on Perspective 13 Chapter 4 How Does the Federal New Starts Process Relate to Soft Costs? 13 When Does FTA Ask for Soft Cost Estimates? 14 Characteristics of the Federal Process That Affect Soft Costs 15 Federal versus Non-Federal Projects 16 Chapter 5 How Does the Construction Industry Estimate Soft Costs? 16 Early Phases 16 Later Phases 18 How Does This Practice Compare with Actual Costs? 20 Chapter 6 How to Estimate Soft Costs for a New Project 20 What This Method Is for and When to Use It 20 Art versus Science 21 Soft Cost Drivers 21 Quantifying Soft Costs 22 Four-Step Process 27 Applying These Steps: Two Example Projects 32 Appendix A FTA Capital Cost Database 34 Appendix B Soft Cost Estimation Worksheet 36 Appendix C Glossary