![]() Two unknown risks materialized after the December 2019 estimate: the effect of COVID-19 and the January 2021 security events–their impact on the project is uncertain. AOC updated the analysis in December 2019 and estimated the project cost at $890 million. However, AOC's 2018 analysis indicated that inaccurate estimates of costs for risk mitigations, unknown risks, and optimistic assumptions about the effect of risk mitigations on the project's cost and schedule could affect its total cost. AOC's 2018 analysis arrived at the same conclusion as its earlier analysis-that the project's estimated $753 million total cost was adequate to complete the project. ![]() In January 2018, AOC updated its analysis of risks by undertaking an integrated cost-schedule risk analysis. GAO made recommendations for AOC to incorporate leading practices into agency guidance and submit confidence levels of cost estimates to Congress. GAO found that AOC's cost estimating policies and guidance did not require a quantitative risk and uncertainty analysis nor the reporting of the resulting confidence level of the estimate. C.įrom 2009 to 2018, AOC consistently estimated the project cost at $753 million, In 2014, GAO found that AOC's cost estimate of $753 million reflected several of GAO's leading practices for high-quality, reliable cost estimates, including that AOC had conducted a risk and uncertainty analysis. ![]() AOC completed Phase 0 utility work the Phase 1 work to renovate the building's west side, the Phase 2 work to renovate the building's north side and work is underway on Phase 3 of the building's east side.Ĭannon House Office Building, Washington, D. The Architect of the Capitol (AOC) has substantially completed three of five planned phases to renovate the Cannon House Office Building (Cannon project).
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