A Combination Forecasting Model for Fast Cost Estimating in Civil Engineering

Xun Liang ()
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Xun Liang: Guangdong University of Technology

Chapter Chapter 120 in Proceedings of the 17th International Symposium on Advancement of Construction Management and Real Estate, 2014, pp 1183-1190 from Springer

Abstract: Abstract This paper tries to make a model based on fuzzy mathematics, Grey model and regression model, exploring methods to estimate the project cost quickly. Firstly, the similar projects are found by the similarity measures in the fuzzy mathematics. Secondly, Grey interconnects degree helps to find the main factors affecting the project cost. Finally, these main factors establish the regression equation. This model is applied to analyze data from the construction projects cost in Guangzhou, indicating the effectiveness and practicality of the model. By comparison with the single models, the civil engineering cost is estimated quickly and accurately, while the combined model improves the limitations of a single model, accuracy and reduce the prediction errors.

Keywords: Fuzzy mathematics; Grey model; Regression model; Civil engineering; Fast cost estimating (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-642-35548-6_120

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DOI: 10.1007/978-3-642-35548-6_120

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