2019
DOI: 10.1016/j.heliyon.2019.e01625
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Intelligent methodology for project conceptual cost prediction

Abstract: Developing a reliable parametric cost model at the conceptual stage of the project is crucial for projects managers and decision makers. Several methodologies exist to develop a conceptual cost model. However, many gaps exist in the current methodologies such as depending only on experts ‘opinions and questionnaire survey to identify the project features, key cost drivers and developing deterministic predictive models without taking uncertainty nature into consideration. The main contribution of this study is … Show more

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Cited by 17 publications
(6 citation statements)
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References 69 publications
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“… A third of the studies categorised under estimation and cost control examine the application of AI to cost prediction and estimation (Shin, 2015;Juszczyk, 2017;Elmousalami, 2019;Yaqubi and Salhotra, 2019;Juszczyk, 2020). Other applications in the category include tender price evaluations (Zhang et al, 2015;Bilal and Oyedele, 2020a;Mehrabani et al, 2020), cash flow prediction and mapping (Cheng et al, 2015;Cheng et al, 2020a), and cost-effectiveness analysis (Wang et al, 2019).…”
Section: Areas Of Applicationmentioning
confidence: 99%
“… A third of the studies categorised under estimation and cost control examine the application of AI to cost prediction and estimation (Shin, 2015;Juszczyk, 2017;Elmousalami, 2019;Yaqubi and Salhotra, 2019;Juszczyk, 2020). Other applications in the category include tender price evaluations (Zhang et al, 2015;Bilal and Oyedele, 2020a;Mehrabani et al, 2020), cash flow prediction and mapping (Cheng et al, 2015;Cheng et al, 2020a), and cost-effectiveness analysis (Wang et al, 2019).…”
Section: Areas Of Applicationmentioning
confidence: 99%
“…, 2017; Mubarek et al. , 2019; Elmousalami, 2019). Due to the current trend of the pluralistic architectural style, the structural systems have become more diverse and have somehow lost their natural logic, adapting to the formatting predetermined by the architect (Ali and Al-Kodmany, 2012).…”
Section: Introductionmentioning
confidence: 99%
“…Structural systems play a key role in determining a cost-effective supertall building form. Moreover, the structural cost of tall buildings can constitute approximately 30% of the total construction cost, and this cost increases as the building rises (Almusharaf and Elnimeiri, 2010;Wang et al, 2017;Mubarek et al, 2019;Elmousalami, 2019). Due to the current trend of the pluralistic architectural style, the structural systems have become more diverse and have somehow lost their natural logic, adapting to the formatting predetermined by the architect (Ali and Al-Kodmany, 2012).…”
Section: Introductionmentioning
confidence: 99%
“…• Results obtained from implementing the developed model are tabulated in Table (3). • Considering the combinations of the different percentage loss of the factors, the percentage error between cost overrun and actual cost overrun was calculated as 7.11% average by the model.…”
Section: Resultsmentioning
confidence: 99%