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8/14/2019 Second Avenue Subway Review
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Presented to:
MTA Capital Construction, Planning and Real Estate Committee
May 20, 2009
Resul t s o f Com prehensive
Pro jec t Review s
Sec ond Avenue Subw ay&
East Side Ac c ess
Presented to:
MTA Capital Construction, Planning and Real Estate Committee
July 22, 2009
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Marc h 2008 30-Day Review
Short t ime f rame t o meet legis lat ive
requi rem ent s for subm iss ion of 2008-13 Plan inant ic ipat ion o f Congest ion Pr ic ing
Input t o proposed 2008-13 Plan
Budget s and sc hedules w ere rev ised
SAS -- $ 4.347 b i l l ion; J une 2015
ESA -- $ 7.244 bi l l ion; Februar y 2015 As a resu l t o f ac c e lera ted review , m arket
unc ert a in t ies w ere acc oun ted fo r ou ts ide theind ividua l pro jec t budget s
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Marc h 2008 Risk Reserve
$747 mi l l ion Risk Reserve w as es tab l ished t o
address pro jec t and m arket uncer t a int ies
Funds w ould be al loc at ed to pro jec t s pendingfurt her com prehens ive review s
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Done in c lose c onsu l ta t ion w i t h Of f i ce o f
Const ruc t ion Overs ight (OCO)/IndependentEngineer ing Consul t ant (IEC)
Risk s exam ined in a m ore c om prehens ivemanner
Consensus reac hed on c ost and sc hedule
Reserves rea l loc at ed t o ind iv idua l pro jec tbudgets
J uly 2009 Com prehensive Review
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Est ab l ish ranges o f c os t s and sc hedules for
best and w orst c ase scenar ios fo r bo t hpro jec ts
Ident i fy t a rge t budgets and schedu les w i t h int he ranges based on ab il i t y t o m i t igat e r isk s
Manage projec t s t o t he ta rge ted budget and
schedule
Guiding Pr inc ip les of J uly 2009 Review
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Sec ond Avenue Subw ay– Budget & Sc hedu le
* MTA costs assume $222 million in immediate savings opportunities, including meeting rollingstock needs through a small reduction to NYC Transit’s existing spare fleet. For consistency with
MTA estimates, deleted $222 million in mitigations from FTA estimates; these opportunities arestill under review by FTA.
$ Billions
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East Side Ac c ess – Budget & Sc hedu le
* $463 million for ESA rolling stock (above the $202 million included in the project budget) is nowincluded in a reserve pending completion of a simulation of opening day service and fleet need. For
consistency with MTA estimates, the FTA estimates assume these costs are carried in a reserve aswell; still under review by FTA.
$ Billions
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Ex pand OCO/IE r isk rev iew s t o a l l m ajor
c ont rac t s to iden t i f y m i t iga t ion st rat egies Im p lem ent r i sk ident i f i ca t ion, ra t ing and
projec t exec ut ion s t ra teg ies recom m ended by
FTA Moni t o r r i sk m i t igat ion imp lem enta t ion and
resu l ts
St rengt hen pro jec t c ont ro ls p roc esses Enhanc ed Governanc e In i t ia t ive (EGI)
Provide regular and c om prehensive report ing
t o Board on s t a t us of each pro jec t
Management Plan
