CSRA
What is a CSRA?
A Cost and Schedule and Risk Assessment (CSRA) is an independent, unbiased review that utilizes probabilistic risk-based estimating to verify a Major Project's cost and completion schedule. It is a collaborative process between FHWA, the Project Sponsor, subject matter experts (SMEs), and consultants. The CSRA applies Monte Carlo simulation to model uncertainty and quantify risks, producing an array of cost and schedule outcomes rather than a single-point estimate.
When CSRAs Are Conducted
CSRAs are tied to specific phases of Major Project development. At least one CSRA must be completed over the life of a Major Project:
- NEPA-Phase CSRA: Highly recommended for all Major Projects, this CSRA should occur after the preferred alternative has been identified but prior to the NEPA decision document being signed. This CSRA occurs early in design, and results should be presented as a forecasted cost and schedule range in the NEPA decision document (typically P10 to P90).
- Preconstruction-Phase CSRA: This required CSRA is critical to establish reasonable cost and schedule estimates prior to completion of the IFP. This CSRA should be completed within 12 months of the first federal-aid construction authorization. The P70 is the expected minimum funding level for major projects.
CSRA Tool:
FHWA developed a tool that is Microsoft Excel™ based platform that uses the add-in software by Oracle Crystal Ball™. The Federal Government does not endorse any Monte Carlo software, there are multiple options available, however this is the one that is being utilized for this tool. This tool has a proven history of use for over 20 years. The tool is free to download. Project Sponsors can choose to use this tool, the PRBE Tool (which does not require additional software), or another tool that has a proven history of success. Please see the latest version of the tool below:
PRBE Tool:
FHWA developed a tool based in Microsoft Excel™ with no additional software required to run the Monte Carlo simulation. This tool can be used for any size project and was developed based on the FHWA CSRA Tool, referenced aboe. While it was created to be used by project sponsors for the purpose of non-major projects, it can still be used in place of the CSRA Tool for Major Projects. Please see the latest version of the tool below:
System Compatibility
The PRBE and CSRA Application toolswere developed for and tested in:
- An Excel-based spreadsheet designed for compatibility with Excel Version 16 (released in 2020) and subsequent versions, including subscription-based Excel.
Download Agreement
By downloading the tools, users agree to the following terms and conditions:
- FHWA does not provide user assistance or support for this tools.
- The application of this tool is the responsibility of the user. It is imperative that the responsible engineer understands the potential accuracy limitations of the program results, independently cross checks those results with other methods, and examines the reasonableness of the results with engineering knowledge and experience.
- There are no expressed or implied warranties.
I agree to these conditions when downloading the tool.
- CSRA Example
- CSRA Blank Template
- PRBE
- Please reach out to our team for access to this tool.
Probabilistic Risk-Based Estimating Concept Training
National Highway Institute offers a free web-based training for probabilistic risk-based estimating (PRBE). This training can be found on the NHI training page: https://fhwanhi.geniussis.com/PublicWelcome.aspx. And searching for Course NO. 134205.
This course is an interactive eBook that provides you with an awareness of concepts and processes utilized to successfully implement PRBE. Participants will use the eBook as a reference to understand basic terminology and recognize good practices when structuring a project for risk assessment. This interactive eBook allows participants to relate basic concepts and processes to real-world examples, case studies and challenges.
The purpose of this course is to help participants acquire knowledge to improve timely project delivery and limit the costs and delays associated with inaccurate cost and schedule estimation, as well as to help participants realize the potential benefits of a well-constructed, thoroughly reviewed, and properly communicated PRBE estimate.
The Cost Estimate Review is conducted at least 90 days prior to the approval of the NEPA decision. This review is a collaborative process between a multi-agency, multi-functional team that may consist of Federal, State, consultant personnel, and other project stakeholders as appropriate (such as the Federal Transit Administration, Metropolitan Planning Organizations (MPOs), non-metropolitan local officials, local/regional transit service providers, and/or Native American Tribal Governments). Generally, during the review, FHWA conducts a workshop that facilitates an unbiased risk-based review to verify the accuracy and reasonableness of the cost estimate and schedule to complete the major project. As a result, a probability range for the cost estimate that represents the project's current level of design is developed.