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Introduction 13
outside contractor(s). For example, while a construction contractor might build their expected
overhead costs into their bid, their total bid price from the transit agency's perspective, and
according to the definition above, is a hard construction cost.
1.4. Organization of This Report
This report consists of five broad sections:
· A literature review on the definition and components of soft costs;
· Results from an industry questionnaire and interviews about how soft costs are estimated;
· Analysis of the relationship between project characteristics and actual as-built soft costs from
59 past rail projects, including univariate and multivariate analyses;
· A summary of the analysis underlying the Guidebook's new soft-cost estimation technique; and
· Concluding remarks and directions for future research.
