• Journal of the Korea Academia-Industrial cooperation Society
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• v.19 no.12
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• pp.653-659
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• 2018

The accurate prediction of construction cost is a key factor in a project's success. However, it is hard to predict the construction costs in the planning stages rapidly and precisely when drawings, specifications, construction cost calculation statements are incomplete, among other factors. Accurate construction-cost prediction in the planning stage of a project is also important for project feasibility studies and successful completion. Therefore, various techniques have been applied to accurately predict construction costs at an early stage when project information is limited. There are many factors that affect the construction cost prediction. This paper presents a construction-cost prediction method as multiple regression model with seven construction factors as independent variables. The method was used to predict the construction cost of a local housing union project, and the error rate was 4.87%. It is not possible to compare the cost of the project at the planning stage of the local housing union project, but it has high prediction accuracy compared to the unit price of an existing unit area. It is likely to be applied in construction-cost calculation work and to contribute to the establishment of the budget for the local housing union project.