Acknowledgement
The authors wish to thank the Korea Research Foundation for providing the funding that made this study possible.
International conference on construction engineering and project management (국제학술발표논문집)
- 2007.03a
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- Pages.653-661
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- 2007
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- 2508-9048(eISSN)
COST PERFORMANCE PREDICTION FOR INTERNATIONAL CONSTRUCTION PROJECTS USING MULTIPLE REGRESSION ANALYSIS AND STRUCTURAL EQUATION MODEL: A COMPARATIVE STUDY
- D.Y. Kim (Department of Civil & Environmental Engineering, Yonsei University) ;
- S.H. Han (Department of Civil & Environmental Engineering, Yonsei University) ;
- H. Kim (Department of Civil & Environmental Engineering, Yonsei University) ;
- H. Park (Department of Civil & Environmental Engineering, Yonsei University)
- Published : 2007.03.01
Abstract
Overseas construction projects tend to be more complex than domestic projects, being exposed to more external risks, such as politics, economy, society, and culture, as well as more internal risks from the project itself. It is crucial to have an early understanding of the project condition, in order to be well prepared in various phases of the project. This study compares a structural equation model and multiple regression analysis, in their capacity to predict cost performance of international construction projects. The structural equation model shows a more accurate prediction of cost performance than does regression analysis, due to its intrinsic capability of considering various cost factors in a systematic way.
Keywords
- Forecasting;
- International Construction Projects;
- Multiple Regression Analysis, and Structural Equation Model