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Legislation

The major project requirements are stipulated in 23 USC 106(h) at 23 U.S.C. § 106 : US Code - Section 106: Project approval and oversight  at http://codes.lp.findlaw.com/uscode/23/1/106.   Major Projects and the language is included below:

(h) Major Projects. -
(1) In general. - Notwithstanding any other provision of this section, a recipient of Federal financial assistance for a project under this title with an estimated total cost of $500,000,000 or more, and recipients for such other projects as may be identified by the Secretary, shall submit to the Secretary for each project -
(A) a project management plan; and
(B) an annual financial plan.

(2) Project management plan. - A project management plan shall document -
(A) the procedures and processes that are in effect to provide timely information to the project decisionmakers to effectively manage the scope, costs, schedules, and quality of, and the Federal requirements applicable to, the project; and
(B) the role of the agency leadership and management team in the delivery of the project.

(3) Financial plan. - A financial plan shall -
(A) be based on detailed estimates of the cost to complete the project; and
(B) provide for the annual submission of updates to the Secretary that are based on reasonable assumptions, as determined by the Secretary, of future increases in the cost to complete the project.

(i) Other Projects. - A recipient of Federal financial assistance for a project under this title with an estimated total cost of $100,000,000 or more that is not covered by subsection (h) shall prepare an annual financial plan. Annual financial plans prepared under this subsection shall be made available to the Secretary for review upon the request of the Secretary.