Journal
JOURNAL OF ADVANCED RESEARCH
Volume 2, Issue 4, Pages 289-295Publisher
ELSEVIER SCIENCE BV
DOI: 10.1016/j.jare.2011.01.007
Keywords
Parametric-cost estimating; Pump stations projects; Cost drivers; Case-based reasoning; Artificial intelligence
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The effective estimation of costs is crucial to the success of construction projects. Cost estimates are used to evaluate, approve and/or fund projects. Organizations use some form of classification system to identify the various types of estimates that may be prepared during the lifecycle of a project. This research presents a parametric-cost model for pump station projects. Fourteen factors have been identified as important to the influence of the cost of pump station projects. A data set that consists of forty-four pump station projects (fifteen water and twenty-nine waste water) are collected to build a Case-Based Reasoning (CBR) library and to test its performance. The results obtained from the CBR tool are processed and adopted to improve the accuracy of the results. A numerical example is presented to demonstrate the development of the effectiveness of the tool. (C)2011 Cairo University. Production and hosting by Elsevier B.V. All rights reserved.
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