Sec. 5. Project delivery process reforms
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The Secretary shall promulgate regulations that, at a minimum, shall require for each qualifying project— a cost estimation that is risk-based and has a confidence level of not less than 80 percent; an independent external peer review and submission to Congress (in the case of a feasibility report) or the Secretary (in the case of a rehabilitation evaluation report) for any qualifying project— that— has an estimated total project cost greater than $45,000,000; is subject to public safety concerns, as determined by the Secretary; involves a high level of complexity or novel or precedent-setting approaches, as determined by the Secretary; or is identified by the Secretary as a matter of significant interagency interest; or for which a review has been requested by the Governor of any State affected by the project; the appointment to a project development team for the qualifying project of a member of the Inland Waterways Users Board, as selected by a majority of the Inland Waterways Users Board; a quarterly update submitted to the Inland Waterways Users Board of the status of a qualifying project that is under construction; the inclusion of the Chairman of the Inland Waterways Users Board and the project development team appointee under paragraph
(3)as signatories of the project management plan for a qualifying project; the establishment of a system to identify and apply on a continuing basis lessons learned from prior or ongoing projects so as to improve the likelihood of on-time and on-budget completion of qualifying projects; the evaluation, including through the use of 1 or more pilot projects, of early contractor involvement acquisition procedures to improve on-time and on-budget project delivery performance; and any additional measures that the Secretary determines will achieve the purposes of this Act, including, as determined appropriate by the Secretary— the implementation of applicable practices and procedures drawn from the management of the military construction program by the Secretary; the development and use of a portfolio of standard designs for inland navigation locks; the use of full-funding contracts or the formulation of a revised continuing contracts provision; and the establishment of procedures for recommending new project construction starts using a capital projects business model. For each fiscal year, the Secretary shall submit to Congress a report that describes each project, if any, that receives more than 50 percent of the total amount of funds made available in that fiscal year under the Inland Waterways Trust Fund established by section 9506 of the Internal Revenue Code of 1986. For each project described in paragraph
(1)that exceeds the estimated cost of carrying out that project for 3 or more consecutive years, the Secretary shall include in the report submitted under that paragraph alternative financing plans for the project.