| Abstract: | Cost estimates are frequently developed to evaluate hazardous‐waste‐site cleanup options in support of a site investigation, remedy selection decision, or assessment of environmental liabilities. The accuracy of the cost estimate depends largely on the quality of the information available at the time it is prepared. This article presents a practical guide to developing a cleanup cost estimate. It includes information on how to document assumptions, use the latest technical resources, and perform basic adjustments to account for uncertainty and the time value of money. The content is based upon a recent guidance document issued by the U.S. Environmental Protection Agency and U.S. Army Corps of Engineers entitled A Guide to Developing and Documenting Cost Estimates during the Feasibility Study (USEPA, 2000). © 2001 John Wiley & Sons, Inc. |
