Journal of the Korea Institute of Building Construction (한국건축시공학회지)

The Korean Institute of Building Construction (한국건축시공학회)
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Knowledge-Based Model for Forecasting Percentage Progress Costs

  • Kim, Sang-Yong (School of Construction Management and Engineering, University of Reading)
  • Received : 2012.08.22
  • Accepted : 2012.09.05
  • Published : 2012.10.20
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Abstract

This study uses a hybrid estimation tool for effective cost data management of building projects, and develops a realistic cost estimation model. The method makes use of newly available information as the project progresses, and project cost and percentage progress are analyzed and used as inputs for the developed system. For model development, case-based reasoning (CBR) is proposed, as it enables complex nonlinear mapping. This study also investigates analytic hierarchy process (AHP) for weight generation and applies them to a real project case. Real case studies are used to demonstrate and validate the benefits of the proposed approach. By using this method, an evaluation of actual project performance can be developed that appropriately considers the natural variability of construction costs.

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References

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