• Title/Summary/Keyword: Approximate cost estimating

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ACCURACY IMPROVEMENT OF AN APPROXIMATE COST ESTIMATING MODEL FOR RIVER FACILITY CONSTRUCTION

  • Siwook Lee;Sungkwon Woo;Jeongyoon Lee;Inwook Choi
    • International conference on construction engineering and project management
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    • 2009.05a
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    • pp.1201-1208
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    • 2009
  • A making a decision of construction cost has important meaning and function for both contractor and owner in construction projects. Especially, it should be premised that estimating the construction cost in efficient and rational way in public construction, which is invested by government funds, for efficient execution of the budget and investment as a side of government. The systematic methodology for estimating construction cost approximately of a river facility construction project has not yet been established because of its unique characteristics including its relatively small project size in terms of cost. On this study, It collect and analyze a river facility construction historical cost data for develop an approximate cost estimating model for river applied by typical embankment section method and rate application of the others activity type. And it verify suitability of model through a that result of application of real river facility construction statement at developed model. By this study, it is expected to reasonable and systematic estimating construction cost through application of developed model.

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A Standard Section-Based Approximate Cost Estimating Model on Tunnel (II) - Cost Variance Index Table and Test - (표준단면을 이용한 터널 공사비 예측모델 개발 (II) - 공사비 변동 모델 및 검증 -)

  • Cho, Jeongyeon;Kim, Sang-Kwi;Kim, Kyoungmin;Kim, Kyong Ju
    • KSCE Journal of Civil and Environmental Engineering Research
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    • v.28 no.5D
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    • pp.677-684
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    • 2008
  • The paper provides an approximate cost estimating model that can be used for tunnel. Based on the previous study analyzed critical factors that have impact on tunnel construction cost, this paper establishes a cost variance index table that reflects the cost impacts due to the change of the critical cost factors. An estimating procedure is described utilizing the index table. For the verification of the suggested model, the comparison of the estimated construction cost with real project cost is performed. The estimated results range from 95%~111% of the real project costs. As an approximate tunnel cost estimating model, the model can be utilized to quickly estimate tunnel construction costs based on the conceptual information at the planning stage and to efficiently make a decision on design alternatives.

PROCESS RESEARCH FOR DEVELOPMENT OF STRUCTURAL COST ESTIMATING MODEL BASED QUANTITY - FOCUSED ON PUBLIC OFFICE BUILDING PROJECT -

  • Soo-Min Kim;Jung-Kyu Seo;Sung-Uk Kim;Chang-Hyun Shin;Yung-Jin Kim;Jae-Youl Chun
    • International conference on construction engineering and project management
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    • 2009.05a
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    • pp.1170-1175
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    • 2009
  • When managers estimate exact construction cost at early stage and design phase, they can reduce construction cost in a more efficient way than to predict at construction stage. But, the current of public construction cost estimation and management is concentrated almost after detailed design phase. Therefore, construction cost management in design development phase to generally use approximate estimating is not correct. Also, the existing construction cost used the method that estimated by gross floor area-based cost estimates at design development phase. So, it is difficult to show the specific amount of materials and basis about the estimated cost of the construction. This study derived problems and limits of construction management at design development phase in case of public office building project through review of literature and current survey, and suggested estimating process model process of structural construction cost go improve these matters.

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Development of an Approximate Cost Estimating Framework for River Facility Construction at Planning Stage (하천시설물 공사의 기획단계 개략공사비 산정체계 개발)

  • Shin, Jung Min;Woo, Sungkwon;Lee, Si Wook;Kim, Ok Ki
    • KSCE Journal of Civil and Environmental Engineering Research
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    • v.28 no.3D
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    • pp.371-381
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    • 2008
  • The systematic methodology for estimating construction cost approximately at planning and pre-design phase of a river facility construction project has not yet been established because of its unique characteristics including its relatively small project size in terms of cost. This research suggests a 4-level cost information structure and identifies critical factors affecting construction cost as a result of thorough analysis of accumulated historical cost data of river facility construction projects. Also, this research presents the framework of the approximate cost estimating methodology for river facility construction project a planning stage.

AN APPROXIMATE COST ESTIMATING MODEL FOR CONSTRUCTION PROJECTS

  • Daehee Lim;Seung-hoon Lee
    • International conference on construction engineering and project management
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    • 2009.05a
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    • pp.1242-1247
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    • 2009
  • The sudden changes in the construction market and the progressively intensifying price wars have amplified the importance of the construction cost estimation in the initial and planning phases of construction projects. However the methodologies and process of estimating construction cost in the planning and design phase are not standardized in the domestic market, in contrast to the markets of more developed countries. Therefore this paper proposes a new approximate estimation model to be used from the initial stages of construction projects. This methodology that extracts, modifies and synthesizes comparable elements of previous cases. This will introduce the foundation for the implementation of systems with improved usability and applicability.

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Integrating Deep Learning with Web-Based Price Analysis to Support Cost Estimation

  • Musa, Musa Ayuba;Akanbi, Temitope
    • International conference on construction engineering and project management
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    • 2022.06a
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    • pp.253-260
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    • 2022
  • Existing web-based cost databases have proved invaluable for construction cost estimating. These databases have been utilized to compute approximate cost estimates using assembly rates, unit rates, and etc. These web-based databases can be used independently with traditional cost estimation methods (manual methods) or used to support BIM-based cost estimating platforms. However, these databases are rigid, costly, and require a lot of manual inputs to reflect recent trends in prices or prices relative to a construction project's location. To address this gap, this study integrated deep learning techniques with web-based price analysis to develop a database that incorporates a project's location cost estimating standards and current cost trends in generating a cost estimate. The proposed method was tested in a case study project in Lagos, Nigeria. A cost estimate was successfully generated. Comparison of the experimental results with results using current industry standards showed that the proposed method achieved a 98.16% accuracy. The results showed that the proposed method was successful in generating approximate cost estimates irrespective of project's location.

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Tunnel Cost Estimating Model Based on Standard Section and Cost Variance Index (I) - Analysis Of Critical Cost Factors - (표준단면을 이용한 터널 공사비 예측모델 개발 (I) - 공사비 영향요인 분석 -)

  • Cho, Jeongyeon;Kim, Kyong Ju;Kim, Kyoungmin;Kim, Sang Kwi
    • KSCE Journal of Civil and Environmental Engineering Research
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    • v.28 no.5D
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    • pp.665-675
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    • 2008
  • The objective of this paper is to provide an approximate cost estimating model for tunnel that can be utilized both in quick construction cost estimating for design alternatives, and in evaluating efficiently the cost effects according to the environmental changes during design and construction stage. To meet this requirement, this study analyzes critical cost factors influencing tunnel construction costs. The cost factors include 7 elements such as rock drilling method, advancing method, type of detonator, loader capacity, unit weight and soil volume change factor, length of tunnel. This paper investigates the cost variance according to the change of the cost factors. The result is expected to be used in formulating approximate tunnel cost estimating model.

Analyzing Data for Development of Structures Cost Estimating Model - Focused on Government Building Project - (건축 구조체 공사비 산정모델 개발을 위한 데이터 분석 - 공공청사를 중심으로 -)

  • Kim, Soo-Min;Cho, Jae-Ho;Lee, Jong-Sik;Chun, Jae-Youl
    • Proceedings of the Korean Institute Of Construction Engineering and Management
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    • 2008.11a
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    • pp.212-215
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    • 2008
  • When managers predict exact construction cost at early stage and design phase, they can reduce construction cost in a more efficient way than to predict at construction stage. But present of public construction cost estimation and management almost after the construction documents design phase. Therefore, construction cost management in the early stage and schematic design phase to generally use approximate estimating is not correct. Accordingly, this study analyze problem of current cost estimating method and a concrete cost plans make using case information of actual cost to analyze in schematic design phase. Possible to check going on the suitable design, this study conducts the preliminary research for the development of cost estimating model.

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Approximate Estimating Model for PSC BEAM Bridge Using Influence Factors (PSC BEAM 교량 공사비 영향요인을 이용한 개략공사비 산정모델 개발)

  • Kang, Chan-Sung;Lim, Won-Seok;Kim, Kyoung-Min;Kim, Kyong-Ju
    • Proceedings of the Korean Institute Of Construction Engineering and Management
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    • 2007.11a
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    • pp.585-588
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    • 2007
  • This study attempts to analyze estimating process and the level of information performing literature review and questionnaire and identify phased influence factors on construction cost using phased information of project and suggests framework of approximate estimation model at the planning and design stage. This paper suggests phased influence factors on construction cost and framework of approximate estimation model for integrated project cost management.

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Approximate Estimating Model Using the Case Based Reasoning - PSC BEAM Bridge - (사례기반추론을 이용한 개략공사비 산정모델 개발 - PSC BEAM교를 중심으로 -)

  • Kang, Chan-Sung;Lee, Geon-Hee;Kim, Kyoung-Min;Kim, Kyong-Ju
    • Proceedings of the Korean Institute Of Construction Engineering and Management
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    • 2008.11a
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    • pp.445-448
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    • 2008
  • This study attempts to estimate approximate cost on construction of PSC BEAM Bridge using Case-Based Reasoning and suggests approximate estimation model at the planning and design stage. This paper suggests phased influence factors on construction cost and approximate estimation model for integrated project cost management.

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