Factors Affecting Over-budget of Construction Cost and Its Control

2021 ◽  
Keyword(s):  
Construction Cost ◽  
Factors Affecting

scholarly journals Economic challenges: Conceptual framework on factors affecting construction cost during COVID-19 pandemic in malaysia

2021 ◽  
Vol 881 (1) ◽  
pp. 012020
Author(s):  
N.A. Abdullah ◽  
I.F. Mohd Kamar ◽  
N.A. Mustapa ◽  
A Che Ahmad ◽  
M.N. Abdullah ◽  
...  
Keyword(s):  
Conceptual Framework ◽  
Productivity Loss ◽  
Workplace Safety ◽  
Regulatory Compliance ◽  
Construction Cost ◽  
Construction Sector ◽  
Construction Costs ◽  
Factors Affecting ◽  
Project Completion ◽  
Almost All

Abstract Various studies have found that COVID-19 pandemic impacts on a country’s economy through several channels, including the construction sector. The construction sector, which has always been a big growth generator for the economy, has also been completely shut down. Construction stakeholders are facing a several of the issues as the construction costs keep increasing as a result of the workplace safety and health compliance, suspension and termination of the project, and productivity loss. Accordingly, this paper attempted to propose a conceptual framework on the factors affecting construction cost during COVID-19 pandemic in Malaysia. Almost all evidence from the literature shows that project completion, supply chain and regulatory compliance are the main factors that need to take heed of by the construction players during COVID-19 pandemic. Significantly, all these three components have the potential as the contributors to the increment of construction costs during COVID-19 pandemic.

scholarly journals Modeling of Construction Cost of Villas in Oman

2014 ◽  
Vol 10 (2) ◽  
pp. 34
Author(s):  
MA Al-Mohsin ◽  
AS Al-Nuaimi
Keyword(s):  
Low Income ◽  
Cost Estimation ◽  
Construction Cost ◽  
Design Stage ◽  
Actual Cost ◽  
Factors Affecting ◽  
Preliminary Design Stage ◽  
Using Data ◽  
Collection Form ◽  
Major Factors

 In this research, a model for estimating construction cost of villas is presented. The model takes into account four major factors affecting villa's cost, namely: built up area, number of toilets, number of bedrooms and the number of stories. A field survey was conducted to collect information required for such model using data collection form designed by the researchers. Information about 150 villas was collected from six well experienced consultants in the field of villa design and supervision in Oman. Collected data was analyzed to develop suggested model which consists of two main levels of estimate. The first level is at the conceptual design stage where the client presents his/her need of space and basic information about the available plot for construction. The second level of cost estimation is carried out after the preliminary design stage where the client has to decide on the finishes and type of structure. At the second level of estimation, the client should be able to decide whether to precede for construction or not, according to his/her budget. The model is general and can be used anywhere and was validated for accepted degree of confidence using the actual cost of the 112 executed villa projects in Oman. The villas included in this study were owned by clients from both high and low income brackets and had different types of finishing material. The developed equations showed good correlation between the selected variables and the actual cost with R2  = 0.79 in the case of conceptual estimate and R2  = 0.601 for preliminary estimate. 

scholarly journals The Prediction of Metro Shield Construction Cost Based on a Backpropagation Neural Network Improved by Quantum Particle Swarm Optimization

2020 ◽  
Vol 2020 ◽  
pp. 1-15
Author(s):  
Lanjun Liu ◽  
Denghui Liu ◽  
Han Wu ◽  
Xinyu Wang
Keyword(s):  
Neural Network ◽  
Particle Swarm Optimization ◽  
Bp Neural Network ◽  
Rough Set Theory ◽  
Quantum Particle ◽  
Particle Swarm ◽  
Construction Cost ◽  
Swarm Optimization ◽  
Factors Affecting ◽  
Bp Model

The prediction of construction cost of metro shield engineering is of great significance to project management. In this study, we used the rough set theory, a backpropagation (BP) neural network, and quantum particle swarm optimization (QPSO) to establish a prediction model for predicting the metro shield construction costs. The model accounts for the complexity of metro shield construction and the nonlinear relationship between the construction cost factors. First, the factors affecting the construction cost were determined by referring to the Chinese National Standards and analysing the engineering practice of typical metro shield projects. The rough set theory was used to simplify the system of influencing factors to extract the dominant influencing factors and reduce the number of input variables in the BP neural network. Since the BP neural network easily falls into a local minimum and has a slow convergence speed, QPSO was used to optimize the weights and thresholds of the BP neural network. This method combined the strong nonlinear analysis capabilities of the BP and the global search capabilities of the QPSO. Finally, we selected 50 projects in China for a case analysis. The results showed the dominant factors affecting the construction cost of these projects included ten indicators, such as the type of tunnelling machine and the geological characteristics. The determination coefficient, mean absolute percentage error, root mean square error, and mean absolute error, which are frequently used error analysis tools, were used to analyse the calculation errors of different models (the proposed model, a multiple regression method, a traditional BP model, a BP model optimized by the genetic algorithm, and the BP model optimized by the particle swarm optimization). The results showed that the proposed method had the highest prediction accuracy and stability, demonstrating the effectiveness and excellent performance of this proposed method.

Probabilistic analysis of factors affecting highway construction costs: a belief network approach

2002 ◽  
Vol 29 (3) ◽  
pp. 369-374 ◽  
Author(s):  
Nii O Attoh-Okine
Keyword(s):  
Graphical Models ◽  
Graphical Representation ◽  
Highway Construction ◽  
Construction Cost ◽  
Sufficient Information ◽  
Cost Models ◽  
Belief Networks ◽  
Construction Costs ◽  
Factors Affecting ◽  
Graph Theoretic

This paper presents the application of belief networks to make inferences in highway construction costs. The methodology is evolving; it works very well when sufficient information and incomplete quantitative data are available. It is an attempt to identify the extent of influence of selected variables on highway construction costs. Belief networks are an expressive graphical language for representing uncertain knowledge about causal and associational relations among construction cost variables. This then provides a graphical representation of probabilistic construction cost models. The graph-theoretic framework of the belief lends itself for modeling probabilistic dependence and flow information between different construction costs and related variables in overall highway construction cost determination.Key words: construction costs, belief networks, graphical models, uncertainty, and Bayesian network.

Factors affecting the accuracy of cost estimate during various design stages

2019 ◽  
Vol 18 (4) ◽  
pp. 787-819
Author(s):  
Tala Hassan Dandan ◽  
Ghaleb Sweis ◽  
Lilana Salem Sukkari ◽  
Rateb J. Sweis
Keyword(s):  
Cost Estimation ◽  
Online Survey ◽  
Construction Cost ◽  
Project Managers ◽  
Cost Estimate ◽  
Building Construction ◽  
Cost Estimates ◽  
Content Type ◽  
Factors Affecting ◽  
Order Of Magnitude

Purpose The purpose of this paper is to identify factors affecting cost estimate accuracy in each of five design stages preceding building construction: order of magnitude, conceptual/schematic, detailed design, construction document and bid phase. Design/methodology/approach Data were collected using an online survey completed by 138 respondents who work in design consultancy firms in Jordan, including project managers, architects and quantity surveyors (QSs). Survey responses were analyzed using descriptive statistics. Confirmatory interviews and case study comparisons were used to confirm the statistical analysis results. Findings The results of this study indicated that each design stage’s cost estimate was affected by several factors. Two significant factors were common across four of the five design stages: client experience and project team experience. In addition, a high level of agreement was observed among the project managers, architects and QSs regarding the factors affecting cost estimate accuracy. Originality/value Accurately estimating building construction costs during the design process has posed a challenge for designers and their clients in Jordan. Despite the care and effort involved in preparing cost estimates in each of the five design stages, deviations are commonly observed. Because the accuracy of building construction cost estimates directly affect the success or failure of a project, the results of this study can be used to reduce uncertainties in building construction cost estimation and subsequently increase the likelihood of project success

scholarly journals Factors affecting the cost of engineering services in construction

2020 ◽  
Keyword(s):  
Practical Experience ◽  
Construction Cost ◽  
Assessment Method ◽  
Expert Assessment ◽  
Work Intensity ◽  
Factors Affecting ◽  
Number Of Factors ◽  
Engineering Company ◽  
Engineering Services ◽  
The Cost

Engineering services can be provided by specialized engineering companies and individual specialists. Since 2017, Ukraine officially has the profession of engineer-consultant. Qualification Characteristic of engineer-consultant has been approved. Construction customers are allowed to additionally include in the construction cost up to 3% for the payment of the services of an engineer-consultant. The amount of these costs should be justified. An analysis of world experience shows that the main methods used to determine the cost of the services of an engineer-consultant are: temporary payment, a percentage of the construction cost, a one-time fixed payment. Depending on the type of service provided by the consulting engineer, various pricing methods can be applied. An analysis of foreign and domestic sources, as well as our own practical experience in carrying out engineering activities, shows that in order to accurately estimate possible costs and determine the price of services accordingly, an engineering company must take into account a number of factors that characterize the project in which it will participate. Such factors in particular include the class of responsibility of the facility, the scale of the project (cost), the type of construction (reconstruction or restoration), the uniqueness of the facility or individual solutions, complex construction conditions (cramped construction conditions, complex geotechnical conditions, seismicity, etc.) short construction periods or vice versa a long project with a small work intensity, a complex organizational structure of the project, the experience of an engineer in this field, the requirements for the qualifications of personnel, etc. The combination of one or more of the above factors can significantly affect to the size of the labour costs of a consulting engineer. The article summarizes factors which are the most significant and those that are the most convenient for evaluation are selected by the expert assessment method on four criteria. In the future, in order to be included in the Methodology for determining the cost of consultant engineer services, numerical values of the degree of influence of various factors must be determined. They will be included in the Methodology in the form of corresponding coefficients.

Progress In The Practical Application Of Automated Image Analysis To Tem Negatives

1977 ◽  
Vol 35 ◽  
pp. 214-217
Author(s):  
F. A. Heckman ◽  
E. Redman ◽  
J.E. Connolly
Keyword(s):  
Image Analysis ◽  
Image Quality ◽  
Exposure Time ◽  
Image Contrast ◽  
Automated Image Analysis ◽  
Practical Application ◽  
Factors Affecting ◽  
High Image Quality ◽  
Qualitative Evidence ◽  
Comprehensive Study

In our initial publication on this subject1) we reported results demonstrating that contrast is the most important factor in producing the high image quality required for reliable image analysis. We also listed the factors which enhance contrast in order of the experimentally determined magnitude of their effect. The two most powerful factors affecting image contrast attainable with sheet film are beam intensity and KV. At that time we had only qualitative evidence for the ranking of enhancing factors. Later we carried out the densitometric measurements which led to the results outlined below.Meaningful evaluations of the cause-effect relationships among the considerable number of variables in preparing EM negatives depend on doing things in a systematic way, varying only one parameter at a time. Unless otherwise noted, we adhered to the following procedure evolved during our comprehensive study:Philips EM-300; 30μ objective aperature; magnification 7000- 12000X, exposure time 1 second, anti-contamination device operating.

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