An Objective Evaluation on One of the Nation's Largest Capital Programs

The Regional Transportation District (RTD)’s ambitious FasTracks transit expansion program, in Colorado, has become a model for infrastructure investment in the United States. The multi-billion dollar project entails construction of 122 miles of new commuter and light rail, 18 miles of bus rapid transit guideway, thousands of new station parking spaces and bike amenities, and easy bus-to-rail connections across eight counties.

With an estimated value of $9.2 billion, FasTracks is one of the nation’s most ambitious capital programs. Brought in for an objective view, Urban evaluated the Annual Financial Plans for the FasTracks program.  

These assessments were required by legislation — the aim was to enable DRCOG to maintain fiduciary responsibility and oversight of the cost and schedule projections associated with the project.  

Risk-Sharing Techniques Edge Against Inflation 

Our team provided independent and objective evaluations of the program’s capital and operating costs, revenue and financing, contingency funds, schedule, and other elements that can impact the project. We concluded each assessment with a formal presentation to DRCOG’s 50-member board of directors. Our presentations were praised by both the board and media outlets.

Our experience evaluating other transit mega-projects nationwide allowed us to bring a broad perspective to the FasTracks program assessments. We recommended that DRCOG include various risk-sharing techniques in construction contract provisions. These techniques were aimed as a hedge against cost inflation during a period of volatility in the construction materials market. 

Highlights

• Our evaluation of many different forms of Alternative Project Delivery led to cost and schedule efficiency.
• RTD embraced Urban’s recommendation for risk-informed management and contracting practices, including the addition of cost and schedule contingency provisions to protect the project.
• Owing to positive reviews from Board members and media, Urban was re-awarded this contract for five straight years