Journal of Construction Engineering and Project Management

Korea Institute of Construction Engineering and Management (한국건설관리학회)
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Development of Time-Cost Models for Building Construction Projects in Bangladesh

  • Rahman, MD. Mizanur (Interdisciplinary Program of Construction Engineering and Management, Pukyong National University) ;
  • Lee, Young Dai (Department of Civil Engineering, Pukyong National University) ;
  • Ha, Duy Khanh (Interdisciplinary Program of Construction Engineering and Management, Pukyong National University) ;
  • Chun, Yong Hyun (Department of Civil Engineering, Pukyong National University)
  • Published : 2014.09.01
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Abstract

Estimating time and cost is an important mission in the early phase of a construction project, especially in feasibility study. It provides a foundation for making decision whether or not the project is performed on schedule and within budget. Thus, reliability of this estimate plays a key role in measuring the success of a project. This study was carried out to investigate the time-cost relationship in building construction projects in Bangladesh. The mathematical equation used in this study is based on Bromilow's equation. The research data were collected from sixty-three completed building projects through questionnaire survey. Type of clients, type of projects, and tender methods are the project characteristics considered in this study. The results of analysis indicated that the Bromilow's time-cost (BTC) models developed for each project characteristic are appropriate due to quite high coefficient of determination and relatively small mean percent errors. Among them, the forecasted model for time and cost according to tender methods is the best fit model. It is concluded that the BTC model could be applied in building construction project to predict its time and cost in Bangladesh. Four different regression models were also developed in this study. The results of BTC model between some selected countries were compared to gain the comprehensive view.

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  1. Predicting Contract Duration for Building Construction: Is Bromilow’s Time-Cost Model a Panacea? vol.32, pp.1, 2016, https://doi.org/10.1061/(ASCE)ME.1943-5479.0000394