This presentation will discuss environmental restoration
cost classification for projects within a regulatory framework that involves
development of formal documentation, public input from external stakeholders,
and ultimate approval by a regulatory authority. This regulatory framework has
a specific focus towards environmental compliance under the Resource
Conservation and Recovery Act (RCRA) and the Comprehensive Environmental
Response, Compensation, and Liability Act (CERCLA). The necessary steps of an
environmental cleanup will be discussed though six consecutive phases,
indicating increasing maturity, described in detail. Also, the reasoning and support
for the classification of environmental restoration project cost estimates in
relation to their maturity will also be discussed. In addition, the role of
risk in environmental remediation projects is discussed.