XBRL Extension for Construction, Energy and Transportation
Project on hold, so no impact to move it to a pilot project, and no timeline to meet.
See segment on
City of Tracy Business Parks
NBC Nightly News - Starts at 17:15
How it would work
The proposed pilot for Lammers Road is straightforward and simple.
Federally approved. Lammers Road is already approved and already received initial federal funding.
Approved as one of the projects considered for the San Joaquin Council of Government’s One Voice trip to Washington D.C.
Lammers Road Interchange as Pilot Project for the DATA Act
The Lammers Road Interchange could act as a pilot project for demonstrating XBRL throughout the supply chain by having the City of Tracy and Caltrans be a model for other agencies for how to comply with the DATA Act, and demonstrate the Performance Measurement capabilities that would be enabled by XBRL with the VDOT as the original open data model..
The genesis of the project is actually the Virginia DOT dashboard, where construction project information was made available online.
The surety industry provides credit to contractors and in almost all cases does not know how the construction projects they bonding are doing. Without the ability to monitor job progress the surety industry is denied the opportunity to better support those that are performing well, and subject to preventable losses had they know a project had indications of a problem.
In California Caltrans publishes project information as well:
In 2004 we started a project at California State University Chico with The Associated General Contractors of America to demonstrate how easy access to the “open data” enabled a simple dashboard that pulled open data from both VDOT and Caltrans and provided surety companies with timely and accurate project progress information to improve access to surety credit.
Project Status Connection: www.projectstatusconnection.com
The user can login to view all records (view / all), or filtered for each surety (travelers / travelers) or (liberty / liberty). The project owner is on the left, the limited key data in the middle and a link to the full data on the right. The projects are sorted according to risk factors like stop notices, liquidated damages and time delays. The project information can be exported from the dashboard to be imported by the surety, resulting in interoperability between VDOT, Caltrans and the surety industry.
The project at CSU Chico demonstrates the profound impact open data can have on everyday businesses that want to participate in public works, as performance measurement and predictive analytics significantly improves the ability of the surety industry to offer products and services that better manage contractor default risk for all stakeholders. By decreasing risk any project becomes more “bankable”.
The XBRL-CET working group shared that risk management capability with the Department of Energy as part of the Data by Design contest.