A STUDY ON THE DEVELOPMENT OF A COST MODEL BASED ON THE OWNER'S DECISION MAKING AT THE EARLY STAGES OF A CONSTRUCTION PROJECT

2010 ◽  
Vol 14 (2) ◽  
pp. 121-137 ◽  
Author(s):  
Choong-Wan Koo ◽  
TaeHoon Hong ◽  
Chang-Taek Hyun ◽  
Sang H. Park ◽  
Joon-oh Seo
Keyword(s):  
Decision Making ◽  
Cost Estimation ◽  
Cost Model ◽  
Construction Project ◽  
Case Based Reasoning ◽  
Planning Stage ◽  
Attribute Weights ◽  
Early Stages ◽  
Minimum Criteria ◽  
The Cost

Decision making at the early stages of a construction project has a significant impact on the project, and various scenarios created based on the owner's requirements should be considered for the decision making. At the early stages of a construction project, the information regarding the project is usually limited and uncertain. As such, it is difficult to plan and manage the project (especially cost planning). Thus, a cost model that could be varied according to the owner's requirements was developed. The cost model that was developed in this study is based on the case‐based reasoning (CBR) methodology. The model suggests cost estimation with the most similar historical case as a basis for the estimation. In this study, the optimization process was also conducted, using genetic algorithms that reflect the changes in the number of project characteristics and in the database of the model according to the owner's decision making. Two optimization parameters were established: (1) the minimum criteria for scoring attribute similarity (MCAS); and (2) the range of attribute weights (RAW). The cost model proposed in this study can help building owners and managers estimate the project budget at the business planning stage. Santruka Sprendimu priemimas ankstyvuoju statybos projekto etapu turi didele itaka projektui ir ivairiems scenarijams, remiantis savininko reikalavimais, kuriu turi būti laikomasi priimant sprendimus. Ankstyvaisiais statybos projekto etapais informacijos apie projekta paprastai yra nedaug ir ji nera patikima. Del to sudetinga planuoti ir taisyti projekta (ypač išlaidu planavima). Todel šio tyrimo metu buvo sukurtas kainos modelis, kuris galetu būti keičiamas atsižvelgiant i savininko poreikius. Kainos modelis, kuris buvo sukurtas šio tyrimo metu, remiasi atveju analize, pagrista argumentu metodika (angl. CBR). Modelis siūlo samatinius skaičiavimus su panašiausiais ankstesniais atvejais, kurie yra skaičiavimo pagrindas. Šio tyrimo metu procesas buvo optimizuotas naudojant genetinius algoritmus, rodančius projektu skaičiaus kitima tam tikro modelio duomenu bazeje pagal savininko priimamus sprendimus. Buvo nustatyti du optimizavimo parametrai: 1) minimalūs kriterijai veiksniu panašumui ivertinti (angl. MCAS); 2) veiksniu svoriu vertinimo intervalas (angl. RAW). Kainos modelis, pasiūlytas šiame tyrime, gali padeti pastatu savininkams ir valdytojams ivertinti projekto biudžeta verslo planavimo etape.

scholarly journals Estimasi Biaya Konseptual Pada Jembatan Beton Bertulang Dengan Metode Indek Biaya

2017 ◽  
Vol 13 (2) ◽  
pp. 105
Author(s):  
Bagyo Mulyono ◽  
Paulus Setyo Nugroho
Keyword(s):  
Cost Estimation ◽  
Early Stage ◽  
Cost Model ◽  
Construction Project ◽  
Public Works ◽  
Cost Index ◽  
Reinforced Concrete Bridge ◽  
Construction Project Cost ◽  
The Cost ◽  
Available Information

<p class="DRAbstrak">Cost estimation is the art of estimating the amount of cost required for an activity based on available information. The conceptual cost estimate is an early stage in planning a construction project. This estimate provides the cost that must be budgeted for a construction project. Cost conceptual estimates have low accuracy because the time of calculation and available information is limited. This study aims to obtain a conceptual model of the conceptual cost of short-spaced bridges. The method used is the cost index. The cost index is a figure indicating the cost per m2 of bridges at a given time. The required data are contract documents and drawings design that are built in 2012 - 2015 in Banyumas residency area. Span of bridge 4 - 38.8 meters and width of bridge 2 - 7 meters with caisson  foundation. The data were obtained from Dinas Bina Marga and Public Works Agency. The results showed that the conceptual cost model of reinforced concrete bridge with caisson foundation was BJiL = (100.540.56t2-404.528.636,58t + 406.914.286.088,58) x P x W, with t = year, P = span bridge, and W = bridge width. The error value of validation of this model is 2.31%.</p>

scholarly journals Index Cost Estimation Using Case Based Reasoning Model Based on Macro BIM

2018 ◽  
Author(s):  
Krzysztof Zima ◽  
Agnieszka Leśniak
Keyword(s):  
Correlation Coefficient ◽  
Cost Estimation ◽  
Pearson Correlation ◽  
Construction Project ◽  
Information Modeling ◽  
Unit Price ◽  
Case Based Reasoning ◽  
Estimation Process ◽  
The Cost ◽  
Case Based

Information regarding the cost of a construction project is available to the investor and project participants in order to determine the subsequent success of a project, given that the information they collect has an impact on the decisions they make. Cost calculations, especially in the initial phase of a project, often generate large errors. This paper presents the new approach based on a combination of the Case Based Reasoning method (CBR) with the originally selected criteria for the description of a construction project (as a result of Pearson correlation coefficient and Spearman's rank correlation coefficient) and Building Information Modeling (BIM) technology. The CBR method fulfils expectations for a simple and fast system supporting the cost estimation process. It does not require any specialist knowledge, so it will be comprehensible to cost estimation practitioners. The BIM-based model gives the opportunity for the calculation of quantity take-offs and enables the use of the information contained in the BIM model in the cost estimation process. In order to prepare the model an appropriate relational database had to be developed. With extensive research, a database of 173 construction projects, including the construction of a sports field, was obtained. There were 14 variables defined originally by authors; however, only 10 (as a result of the correlation analysis) were used for the calculation. Data related to the project were collected in the BIM model. Results estimating the project&rsquo;s unit price, using the CBR method, were presented and discussed. The Mean Absolute Estimate Error was used to evaluate the model.

Combining case-based reasoning with genetic algorithm optimization for preliminary cost estimation in construction industry

2014 ◽  
Vol 41 (1) ◽  
pp. 65-73 ◽  
Author(s):  
Sangyong Kim ◽  
Jae Heon Shim
Keyword(s):  
Genetic Algorithms ◽  
Cost Estimation ◽  
Hybrid Approach ◽  
Design Stage ◽  
Case Based Reasoning ◽  
Planning Stage ◽  
High Rise ◽  
The Cost ◽  
Cost Factors ◽  
Case Based

In this paper, we propose a hybrid case-based reasoning (CBR) system for predicting the construction cost of high-rise buildings at the preliminary design stage. First, the extracted cost factors (CFs) of a high-rise building were shown to significantly improve the cost estimation system’s performance. For developing a CBR system, a hybrid approach that combines CBR with genetic algorithms (GAs) for cost estimation was adopted. Genetic algorithms were used for optimized weight generation and applied to real project cases. Additionally, this paper proposes the identification of an alternative similarity score measurement formula. The proposed formula evaluates the contrast between the alternative case matching approach and the classical formula in a scenario involving the use of cost factors describing a case. The results indicate that the proposed GA-based CBR system can consistently reduce errors and potentially be useful to owners and contractors in the early financial planning stage. Accordingly, it is expected that the developed CBR system would provide decision-makers with accurate cost information to assess and compare multiple alternatives for obtaining the optimal solution and controlling the cost.

Approach for Effective Design and Cost Estimation of New built / Conversion FPSO (2014)

2014 ◽  
Author(s):  
Upendra Malla ◽  
Krishna M. Karri
Keyword(s):  
Cost Estimation ◽  
Structural Design ◽  
Effective Means ◽  
Step Method ◽  
Support Design ◽  
Field Development ◽  
Early Stages ◽  
The Cost ◽  
Offshore Field ◽  
Effective Design

Floating Production Storage and Offloading (FPSO) sizing and cost estimation has become a challenging task at the early stages of offshore field development. During the early stages of field development designer needs to size and estimate cost in order to decide feasibility of the project. This paper describes a step by step method used to size and estimate the cost of a new built (or) converted FPSO based on basic engineering, existing FPSO data and corresponding metocean criteria for a particular location. This step by step approach covers FPSO sizing, hull structural design, mooring sizing, topsides support design and steel renewal using offshore classification rules and regulations. FPSO cost is estimated based on the design particulars (i.e. hull weights, FPSO particulars, mooring sizes etc.) and current market unit rates. This approach is an effective means to size and estimate cost of an FPSO at early stages of field development which saves overall time and cost for a client.

Manufacturing Feature Based Dynamic Cost Estimation for Design

2004 ◽  
Author(s):  
Harshal Patwardhan ◽  
Karthik Ramani
Keyword(s):  
Cost Estimation ◽  
Estimation Methods ◽  
Design Stage ◽  
Design Parameters ◽  
User Requirements ◽  
Geometric Information ◽  
Early Stages ◽  
Feature Based ◽  
The Cost ◽  
Manufacturing Feature

Due to the ever-increasing competition in today’s global markets, the cost of the product is rapidly emerging as one of the most crucial factors in deciding the success of the product. Decisions made during the design stage affect as much as 70–80% of the final product cost. Hence, a manufacturing cost estimation tool that can be used by the designer concurrently during the design phase will be of maximum benefit. A literature study of the available cost estimation tools suggests that a majority of these tools are meant for use in the later stages of the product development lifecycle. In the early stages of a product lifecycle, the only information that is available to the designer is related to geometry and material. Hence, the cost estimation methods that have been developed with the intent of being used in the early stages of design make use of the geometric information available at that stage of the design. Most of the earlier models that use parametric cost estimation and features technology consider the design features in their implementation. However, such models fail to consider “manufacturing based features” such as cores and undercuts. These manufacturing based features are very important in deciding the manufacturability and the cost of the part. The Engineering Cost Advisory System (ECAS) is a knowledge-based system that presents cost advice to the designer at the design stage after considering various design parameters and user requirements. Some of these design parameters can be extracted via standard Application Programming Interfaces (APIs). Moreover, ECAS uses innovative techniques of geometric reasoning and the hybrid B-rep-voxel model approach to extract manufacturing feature-based geometric information directly from the CAD input. By considering the manufacturing based features along with the design parameters, the ECAS architecture is applicable to a much wider variety of manufacturing processes. The complexity of the part, which is derived from the geometric parameters (manufacturing based and design based) and other non-geometric user requirements (e.g. quantity, material), is used to estimate the manufacturing effort involved in process specific activities. The final cost is then estimated based on this manufacturing effort and considering the hourly rates of labor and other contextual resources as well as material rates.

A Cost Model for the Metal Inert Gas (MIG) Welding Process

2007 ◽  
Author(s):  
Pradeep Kumar Tipaji ◽  
Venkat Allada ◽  
Rajiv Mishra
Keyword(s):  
Cost Estimation ◽  
Material Selection ◽  
Cost Model ◽  
Welding Process ◽  
Inert Gas ◽  
Mig Welding ◽  
Estimation Model ◽  
Cost Component ◽  
Cost Estimation Model ◽  
The Cost

A cost model is an important tool for product design and material selection. An efficient and effective cost estimation tool is necessary for early design evaluations. In this paper, a cost estimation model is presented that estimates the production cost for metal inert gas (MIG) welded joints. This model determines the cost incurred in fabricating each joint with a detailed explanation of each cost component / driver. Each cost component has been closely analyzed and the major cost components have been included in the cost model. We used this cost model to predict the cost of the forty two different joints joined using MIG welding technique. The results predicted by the MIG welding cost model have been compared to that quoted by an expert welder. Initial results show that the cost model and the expert cost estimates follow a similar general trend. Further study is needed to refine the MIG cost model.

Improved similarity measure in case-based reasoning: a case study of construction cost estimation

2019 ◽  
Vol 27 (2) ◽  
pp. 561-578 ◽  
Author(s):  
Won-Gil Hyung ◽  
Sangyong Kim ◽  
Jung-Kyu Jo
Keyword(s):  
Cost Estimation ◽  
Hybrid Approach ◽  
Optimal Solution ◽  
Case Based Reasoning ◽  
Optimization Approach ◽  
Cost Information ◽  
Planning Stage ◽  
Content Type ◽  
Case Based

Purpose Applied a hybrid approach using genetic algorithms (GAs) for a case-based retrieval process in order to increase the overall improved cost accuracy for a case-based library. The paper aims to discuss this issue. Design/methodology/approach A weight optimization approach using case-based reasoning (CBR) with proposed GAs for developing the CBR model. GAs are used to investigate optimized weight generation with an application to real project cases. Findings The proposed CBR model can reduce errors consistently, and be potentially useful in the early financial planning stage. The authors suggest the developed CBR model can provide decision-makers with accurate cost information for assessing and comparing multiple alternatives in order to obtain the optimal solution while controlling cost. Originality/value The system can operate with more accuracy or less cost, and CBR can be used to better understand the effects of factor interaction and variation during the developed system’s process.

Case-Based Reasoning Model with Genetic Algorithms, Group Decision-Making and Template Reduction

2016 ◽  
Vol 25 (02) ◽  
pp. 1550032 ◽  
Author(s):  
Aijun Yan ◽  
Hairuo Song ◽  
Pu Wang
Keyword(s):  
Decision Making ◽  
Genetic Algorithms ◽  
Group Decision Making ◽  
Nearest Neighbor ◽  
Group Decision ◽  
Small Samples ◽  
Case Based Reasoning ◽  
Case Retrieval ◽  
Attribute Weights ◽  
Case Based

Case retrieval, case reuse and case retention are critical to the reasoning performance of the traditional case-based reasoning (CBR) model. In this paper, the integrated use of template reduction technology (TR), genetic algorithms (GA), nearest neighbor (NN) rules and group decision-making (GDM) establishes the CBR-GDM model. First, the TR method of the case base is introduced. Then, an attribute weights optimization using GA is discussed in the case retrieval phase. After that, a case reuse method is carried out with NN and GDM. Finally, 10 data sets from UCI are used to carry out a comparison experiment by 5-fold cross-validation. The classification accuracy rate and the classification efficiency are analyzed under the small samples, before and after the data reduction. The results show that, combined with TR, GA and GDM, the pattern classification performance by CBR can be improved.

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