A neural network approach for early cost estimation of structural systems of buildings

The importance of decision making in cost estimation for building design processes points to a need for an estimation tool for both designers and project managers. This paper investigates the utility of neural network methodology to overcome cost estimation problems in early phases of building desig...

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Bibliographic Details
Published in:International journal of project management 2004-10, Vol.22 (7), p.595-602
Main Authors: Gunaydin, H Murat, Dogan, S Zeynap
Format: Article
Language:English
Subjects:
Building construction
Building design
Cost
Cost estimates
Design
Estimating techniques
Managing projects
Neural networks
Project management
Studies
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Summary:The importance of decision making in cost estimation for building design processes points to a need for an estimation tool for both designers and project managers. This paper investigates the utility of neural network methodology to overcome cost estimation problems in early phases of building design processes. Cost and design data from thirty projects were used for training and testing our neural network methodology with eight design parameters utilized in estimating the square meter cost of reinforced concrete structural systems of 4–8 storey residential buildings in Turkey, an average cost estimation accuracy of 93% was achieved.
ISSN:0263-7863
1873-4634
DOI:10.1016/j.ijproman.2004.04.002