FACTORS INFLUENCING THE CHOICE OF COST ESTIMATES TYPES AND THE ACCURACY OF ESTIMATES FOR CONSTRUCTION PROJECTS

Cezar Simion-Melinte

Proceedings of the INTERNATIONAL MANAGEMENT CONFERENCE, 2016, vol. 10, issue 1, 50-56

Abstract: In this paper were analyzed, based on a research methodology, relations between the factors that determine what types of cost estimates of construction projects and approaches used in making cost estimates. The analysis made led to the confirmation of two research hypotheses: a strong positive correlation between the professional experience of project managers and the use of top-down approaches in the cost estimates of construction projects; a strong positive correlation between time and resources allocated for estimation and using parametric estimates. A second analysis is performed to estimate the relationship between the type of estimates used and accuracy of the estimate, confirmed for the three types of estimates: analogous, parametric and definitive. It has not been confirmed a significant relationship between the level of education of project managers and using bottom-up approaches, cost estimates of construction projects.

Keywords: project; cost; management; construction. (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:rom:mancon:v:10:y:2016:i:1:p:50-56

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