• Korean Journal of Construction Engineering and Management
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• v.13 no.2
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• pp.91-101
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• 2012

In planning phase of Public Multi-Housing Projects, it is required to develop the methodology and criteria for fair cost prediction with influencing power from planning phase to occupancy phase. Many studies still have focused on the prediction of cost by multiple regression. However, there is no logical explanation about the influence of nonmetric variables for the prediction of cost in planning phase. Accordingly, this research pursues a cost prediction model including nonmetric variables for use in planning phase. There are 3 steps of this research : 1) Finding the factors influencing construction cost and assigning variables for a multiple regression. 2) Conducting a dummy regression analysis with nonmetric variables and model validation by comparing actual cost data. 3) Developing the ratio of RC structure cost to wall structure cost by using cost predection model. The results could establish cost prediction process including the influence of nonmetric variables and the ratio of RC structure cost to wall structure cost.

• Korean Journal of Air-Conditioning and Refrigeration Engineering
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• v.26 no.3
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• pp.115-121
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• 2014

HVAC&R system costs can often be one of the most expensive components, representing approximately 15% of the total construction cost for office buildings. Despite their significant importance, there is a lack of a consistent and homogeneous framework to approximate the estimate research. This research deals with the prediction methodology of HVAC&R system cost with the aim of establishing a common idea for the analysis of the construction cost estimate. Our approach deals with the concept of an HVAC&R set that is composed of subsystems. The matrix combination analysis is examined, and total 960 HVAC&R system cost estimation can be implemented to large scale office buildings.

• Korean Journal of Construction Engineering and Management
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• v.21 no.3
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• pp.48-56
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• 2020

Prediction of construction cost in the planning stage that provides basic information for feasibility study, budgeting, and planning is an important factor for successful project execution. In this study, a prediction model was developed for the purpose of improving the accuracy of estimating the construction cost of Hanok in the planning stage. The cost of this model is estimated by two methods. First, the cost of wood work, which accounts for the largest portion of the total construction cost, is estimated by calculating the approximate quantity under various conditions (structure type, roof type, plane type, etc.). Second, the cost of the rest work sections except the wood work is estimated by using the unit cost model. The predictive model was verified by two case projects, and the error rate of total construction cost was -4%(case 1) and -6%(case 2). These results showed an error rate in the range that can be applied to practice in the planning stage.

• Journal of the Korea Institute of Building Construction
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• v.22 no.3
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• pp.317-326
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• 2022

With the development of various technologies in the area of artificial intelligence, a number of studies to application of artificial intelligence technology in the construction field are underway. Diverse technologies have been applied to the task of predicting construction costs, and construction cost prediction technologies applying artificial intelligence technologies have recently been developed. However, it is difficult to secure the vast amount of construction cost data required for machine learning, which has not yet been practically used. In this study, to predict the construction cost, the latest artificial neural network(ANN) method is used to propose a method to improve the construction cost prediction performance. In particular, to improve predictive performance, a log conversion method of target variables and a feature scaling method to eliminate the difference in the relative influence of each column data are applied, and their performance in predicting construction cost is compared and analyzed.

• Journal of KIBIM
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• v.5 no.2
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• pp.34-45
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• 2015

As buildings become larger and more complicated, construction costs have increased with a considerable effect on buildings' Life Cycle Cost (LCC). However, there has been little consideration on economic aspects in the selection of construction materials due to limited information on the materials and dependency in architects' experience and inefficiency in cost estimation, causing design changes, increase in maintenance cost, difficulty in budgeting, and decrease in building performance. To solve these problems, this study proposed a BIM-based material selection model which reflects the comprehensive economic efficiency of building materials. Our cost prediction model can estimates the material-related cost during the entire building life cycle. Furthermore, we implemented the proposed model in connection with BIM, which can analyze and compare LCC by material. Through the validation of the model, we could confirm the necessity of LCC-based material selection in comparison with the conventional cost-centered material selection.

• International conference on construction engineering and project management
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• 2007.03a
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• pp.653-661
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• 2007

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.

• Korean Journal of Construction Engineering and Management
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• v.14 no.3
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• pp.42-52
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• 2013

The aim of this study is to present a prediction model of construction cost for a bridge that has a high reliability using historical data from the planning phase based on a CBR (Case-Based Reasoning) method in order to overcome limitations of existing construction cost prediction methods, which is linearly estimated. To do this, a reasoning model of bridge construction cost by a spreadsheet template was suggested using complexly both CBR and GA (Genetic Algorithm). Besides, this study performed a case study to verify the suggested cost reasoning model for bridge construction projects. Measuring efficiency for a result of the case study was 8.69% on average. Since accuracy of the suggested prediction cost is relatively high compared to the other analysis methods for a prediction of construction cost, reliability of the suggested model was secured. In the case that information for detailed specifications of each bridge type in an initial design phase is difficult to be collected, the suggested model is able to predict the bridge construction cost within the minimized measuring efficiency with only the representative specifications for bridges as an improved correction method. Therefore, it is expected that the model will be used to estimate a reasonable construction cost for a bridge project.

• Proceedings of the Korean Institute of Building Construction Conference
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• 2012.11a
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• pp.153-154
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• 2012

The accuracy of cost estimation at an early stage in school building project is one of the critical factors for successful completion. So many method and techniques have developed that can estimate construction cost using limited information available in the early stage. Among the techniques, Support Vector Machine(SVM) has received attention in various field due to its excellent capacity for self-learning and generalization performance. Therefore, the purpose of this study is to verify the applicability of cost prediction model based on SVM in school building project at the early stage. Data used in this study are 139 school building cost constructed from 2004 to 2007 in Gyeonggi-Do. And prediction error rate of 7.48% in support vector machine is obtained. So the results showed applicability of using SVM model for predicting construction cost of school building projects.

• Journal of Construction Engineering and Project Management
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• v.3 no.2
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• pp.13-20
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• 2013

Construction industry has become a larger and highly competitive industry. A successful construction project cannot be achieved only by efficient and fast construction techniques but also reasonable material cost and adequate transferring time of materials to installation. The steel industry in East Asia has become the mainstream in overall steel industries in over the world during the middle of the 21st century. China, Japan and Korea has been the main exportation countries. However, even though the international economic failure, China has increased the exportation amount and became an only exporting country which must be considered a serious problem regarding competitiveness in the international steel exportation industry. Thus, this study analyses the factors affecting the supply and demand amount of reinforced bars in the domestic field and moreover suggesting a unit cost prediction model using the System Dynamics simulation methodology, one of powerful prediction tools using cause-effect relationships. It is expected that this study contributes to the domestic steel industry growth in competitiveness in the international industry. In addition, the methodology used in this paper presents the frameworks for appropriate tools for market trend analysis and prediction of other markets.

• Proceedings of the Korean Institute of Building Construction Conference
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• 2012.11a
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• pp.111-112
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• 2012

Korean government is planning to supply a half million public and permanent rental houses from 2013 to 2018 for settlement of non-homeowners. It is requested an objective criterion to appropriate the budget for the rental houses construction project cost. In this study, construction cost indices, which reflect the inflation trend of construction resources, were explorated to suggest a effective methodology for the construction cost estimation of therental houses. We figured out the future construction cost indices using several scientific methods, and seven estimated indices values were shown. It is required an additional research to select the proper value among the analyzed indices.