• Title/Summary/Keyword: cost estimating

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Estimating software development cost using machine-learning approach (학습이론을 이용한 소프트웨어 개발비 예측 모형)

  • Park, Chan-Kyoo
    • 한국IT서비스학회:학술대회논문집
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    • 2005.11a
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    • pp.345-355
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    • 2005
  • As the portion of information systems(IS) budget to the total government budget becomes greater, the cost estimation of IS development and maintenance projects is recognized as one of the most important problems to be resolved for quantitative and efficient management of IS budget. The primary concern in the cost estimation of IS projects is to estimate software development cost. In this paper, we propose a new method to estimate software cost using support vector regression(SVR), which has attracted considerable attention because of its good performance and theoretical clearness. The paper is the first study which apply SVR to software cost estimation.

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Analysis of Cost Estimate Method Based on Engineering 3D Model for Nuclear Power Plant Construction Project (엔지니어링 3D모델 기반 원전 건설사업비 산정방안 분석)

  • Lee, Sang-Hyun
    • Proceedings of the Korean Institute of Building Construction Conference
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    • 2018.05a
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    • pp.294-295
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    • 2018
  • Nowadays, the construction industry utilizes 3D models in the designing process, on which research is being conducted to establish an automated system for project cost estimation in connection with information related to construction such as material unit costs and wages, beyond the level of design interference review and construction quantity estimation. In this process, the project cost is estimated in connection with unit price data after takeoff the quantity based on the 3D model attributes and data types. A way to reduce cost and risk would be first developing prototypes of some of essential buildings and works, comparing and validating the outcomes, and then extending to the whole scope, because estimates differ on the basis of the scope and level of 3D design models as well as the data accuracy. This study analyzes case studies of project cost estimation by computing the quantity on the basis of 3D model in the construction industry and explores methodologies and management measures applicable for estimating nuclear power plant construction project costs.

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Construction Cost Estimation on the Initial Design Stage of Naval Ships based on a Product Configuration Model (Product Configuration Model 개념 기반의 함정 건조공수 추정 연구)

  • Oh, Dae-Kyun;Jeong, Yeon-Hwan;Shin, Jong-Gye;Choi, Yang-Ryul
    • Journal of the Society of Naval Architects of Korea
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    • v.46 no.3
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    • pp.351-361
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    • 2009
  • Many manufacturers define the system of a new product flexibility, and take advantage of previous-product information using the product configuration concept. Product configuration is an approach that defines the system of a new product centered on the product structure by referring to the previous-product information. In this paper, it is established how to apply the concept of a product configuration utilizing previous-ships information in construction cost estimation process systematically and effectively. For this, we define the advanced-construction cost estimation process based on a naval ship product model, and design construction cost estimating model. It is validated that this process and model have the applicability through the case study of the construction cost estimating of the mine-warfare ship.

Estimating Optimum Investment Cost for Obsolete School Buildings (노후화된 학교건물의 적정시설투자비 산정모델 적용사례)

  • Huh, Young-Ki
    • The Journal of Sustainable Design and Educational Environment Research
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    • v.10 no.1
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    • pp.10-25
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    • 2011
  • Area Offices of Education in Korea assign and execute government budget based on the evaluation of school buildings' safety rating and degree of their deterioration. However, it is never easy to estimate the most appropriate investment amount for old buildings under consideration of their service lives and residual values together. A model of estimating optimum investment cost for obsolete school building is developed taking its life cycle cost into account. The model is also applied to six old buildings in five different schools and found that some of the facilities hardly needed further investment and were better to be rebuilt. The study results will be a great beneficial for officers to make right decision on maintaining obsolete school buildings and to maximize tax payers' money.

Developing Stochastic Long-Term Maintenance Cost Estimating Method for Apartment Housing (추계적 공동주택 장기수선충당금 산출 및 분석 방법론 개발)

  • Gwak, Han-Seong;Lee, Dong-Eun
    • Proceedings of the Korean Institute of Building Construction Conference
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    • 2015.05a
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    • pp.243-244
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    • 2015
  • This paper presents a Stochastic Long-Term Maintenance Costs Estimating Method for the Apartment Housing (SLCE). A simulation approach is used for generating the stochastic long-term maintenance cost, and it is based on the defined variability in repair cycle of the individual maintenance elemental within the process. SLCE provides the probability distribution of the budget required to maintain the apartment housing. A case study is presented to demonstrate and to validate the system.

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An Overview of Time Estimation in the Appraisal of Completeness for Software

  • Kim, Yukyong
    • Journal of Software Assessment and Valuation
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    • v.16 no.1
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    • pp.21-26
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    • 2020
  • The completeness appraisal of software is performed in various forms, such as assessing the completion level in the development process, calculating the defect rate, estimating the development cost, and calculating the redevelopment cost. Along with this, the problem that is often dealt with is estimation of the development time. Even in a dispute over completeness due to delays in software development, issues of calculating an appropriate development time required to develop a delivery software or a development time required for change requests are often included in the appraisal request. In this paper, we introduce the procedure and method for estimating the appropriate project time of software development so that the appraiser can be applied to the appraisal work for determining the completeness. The method is based on the manual for calculating the appropriate project period of software development project.

Analysis of Construction Cost Weight Standards to Calculate Appropriate Construction Costs (적정공사비 산정을 위한 공사비할증기준 분석)

  • Oh, Jae-Hoon;An, Bang-Yul
    • Proceedings of the Korean Institute of Building Construction Conference
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    • 2020.06a
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    • pp.157-158
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    • 2020
  • In order to calculate construction costs properly, it is necessary to add the weight that reflects different worksite conditions. The implementation of the weight, however, is difficult because it is impossible to determine whether wight should be added in basic work or whether weight values are overlapped. Special worksite conditions further complicate the matter. Furthermore, overlapping implementation of weight values result in overestimation of construction costs. The current study clearly analyzed the weight value items in the current construction cost calculation standards, and analyzed the weight value items included under the basic productivity category to propose an improvement of weight standards. Basically, the estimating standards provide 140 weight value items, with different levels of weight given to each item. Among 1,333 items in the estimating standards, 140 include weight values. Some items have two types of weight values.

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Crafting an Automated Algorithm for Estimating the Quantity of Beam Rebar

  • Widjaja, Daniel Darma;Kim, Do-Yeong;Kim, Sunkuk
    • Journal of the Korea Institute of Building Construction
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    • v.23 no.4
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    • pp.485-496
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    • 2023
  • Precise construction cost estimation is paramount to determining the total construction expense of a project prior to the initiation of the construction phase. Despite this, manual quantification and cost estimation methods, which continue to be widely used, may result in imprecise estimation and subsequent financial loss. Given the fast-paced and efficiency-demanding nature of the construction industry, trustworthy quantity and cost estimation is essential. To mitigate these obstacles, this research is focused on establishing an automated quantity estimation algorithm, particularly designed for the main rebar of beams which are recognized for their complicated reinforcement configurations. The exact quantity derived from the proposed algorithm is compared to the manually approximated quantity, reflecting a variance of 10.27%. As a result, significant errors and impending financial loss can be averted. The implementation of the findings from this research holds the potential to significantly assist construction firms in quickly and accurately estimating rebar quantities while adhering strictly to applicable specifications and regulatory requirements.

RISK MANAGEMENT IN CIVIL CONSTRUCTION PROJECTS - FROM COST ESTIMATING PERSPECTIVE

  • Ashley Jaensch;Jian Zuo;Nicholas Chileshe
    • International conference on construction engineering and project management
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    • 2011.02a
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    • pp.162-167
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    • 2011
  • Construction projects are full of risks. This is particularly the case in civil construction projects that are often featured with large scale, complexity and involving a large number of participating parties. The eventuation of risks typically results in extended project durations leading to an increase in the total project budget. The consequence can be amplified considering the significant impacts of civil construction projects on the society, from economical, environmental and social perspectives. This research investigates the significance of risks within civil construction projects and approaches to deal with risks. Semi-structured interviews were undertaken with local industry practitioners in South Australia on this matter. It is found that the industry is fairly aware of risks associated with civil construction projects and subsequently has procedures in place to attempt to minimize the impacts of these risks on the project outcomes. The interview results also indicate that there is limited utilization of software for the risk management purpose from the cost estimation perspective.

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Estimating Telephone Network Structure and Investment Cost Changes (교환/전송 기술진화에 따른 전화교환망 구조변화-시뮬레이션 모형에 의한 사례 분석-)

  • 송석재;장석권;전용수
    • Proceedings of the Korean Operations and Management Science Society Conference
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    • 1997.10a
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    • pp.138-141
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    • 1997
  • In this study, a simulation model is developed to analyze the effects of routing and scale-economy of transmission facilities on the traffic network topology and investment cost changes in a metropolitan telephone network. Computational experiments showed that the wide deployment of bifurcated routing in a dual-homing configuration reduces significantly the traffic network connectivity and the investment cost. Its enhanced version, when combined with the subscriber network cost model, can be used as a prototype cost proxy model for figuring out the access charges in a multi-operator environment.

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