Neural Network-Based Model for Predicting Preliminary Construction Cost as Part of Cost Predicting System
Joint Authors
Car-Pusic, Diana
Petruseva, Silvana
Zileska Pancovska, Valentina
Zafirovski, Zlatko
Source
Issue
Vol. 2020, Issue 2020 (31 Dec. 2020), pp.1-13, 13 p.
Publisher
Hindawi Publishing Corporation
Publication Date
2020-12-29
Country of Publication
Egypt
No. of Pages
13
Main Subjects
Abstract EN
A model for early construction cost prediction is useful for all construction project participants.
This paper presents a combination of process-based and data-driven model for construction cost prediction in early project phases.
Bromilow’s “time-cost” model is used as process-based model and general regression neural network (GRNN) as data-driven model.
GRNN gave the most accurate prediction among three prediction models using neural networks which were applied, with the mean absolute percentage error (MAPE) of about 0.73% and the coefficient of determination R2 of 99.55%.
The correlation coefficient between the predicted and the actual values is 0.998.
The model is designed as an integral part of the cost predicting system (CPS), whose role is to estimate project costs in the early stages.
The obtained results are used as Cost Model (CM) input being both part of the Decision Support System (DSS) and part of the wider Building Management Information System (BMIS).
The model can be useful for all project participants to predict construction cost in early project stage, especially in the phases of bidding and contracting when many factors, which can determine the construction project implementation, are yet unknown.
American Psychological Association (APA)
Car-Pusic, Diana& Petruseva, Silvana& Zileska Pancovska, Valentina& Zafirovski, Zlatko. 2020. Neural Network-Based Model for Predicting Preliminary Construction Cost as Part of Cost Predicting System. Advances in Civil Engineering،Vol. 2020, no. 2020, pp.1-13.
https://search.emarefa.net/detail/BIM-1125327
Modern Language Association (MLA)
Car-Pusic, Diana…[et al.]. Neural Network-Based Model for Predicting Preliminary Construction Cost as Part of Cost Predicting System. Advances in Civil Engineering No. 2020 (2020), pp.1-13.
https://search.emarefa.net/detail/BIM-1125327
American Medical Association (AMA)
Car-Pusic, Diana& Petruseva, Silvana& Zileska Pancovska, Valentina& Zafirovski, Zlatko. Neural Network-Based Model for Predicting Preliminary Construction Cost as Part of Cost Predicting System. Advances in Civil Engineering. 2020. Vol. 2020, no. 2020, pp.1-13.
https://search.emarefa.net/detail/BIM-1125327
Data Type
Journal Articles
Language
English
Notes
Includes bibliographical references
Record ID
BIM-1125327