Preliminary Cost Estimate Model for Culverts

The construction of modern high-speed motorways has increased over the last decade all over the world. However, the financial crisis led many financial institutions worldwide to impose stricter credit limitations and seek to finance only high-profit investments. As a result, the financing of transport projects was made even more difficult. At the same time, accurate cost estimates at the preliminary stages of a project are essential to all the major project stakeholders, since they are necessary for the budget determination, allocation and monitoring, the comparison of alternative projects and technical solutions and finally, the selection of the projects to be implemented. However, the degree of accuracy required is very difficult to be achieved at the preliminary stages due to the limited extent of available information.