Procedures for the Estimation of Pavement and Bridge Preservation Costs for Fiscal Planning and Programming
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Facility preservation generally refers to the set of activities that are carried out to keep a facility in usable condition until the next reconstruction activity. For fiscal planning and programming, it is necessary to know the expected costs of preservation projects and how long they would last. Such information, coupled with minimum standards and facility inventory data enable estimation of overall monetary needs for bridge and pavement preservation, and would assist INDOT in undertaking appropriate programming and attendant financial planning over the long term. However, detailed engineering analyses are not possible every year because of the time and effort involved, therefore simple procedures to help estimate annual pavement and bridge preservation needs are useful for long-term fiscal planning. The study methodology consisted of first undertaking a full analysis based on engineering principles and detailed work in order to determine pavement and bridge needs for a period of time. Then simple procedures to estimate yearly pavement and bridge preservation costs were developed and the results were compared to the detailed engineering needs. Deterioration and cost models to establish engineering needs were developed using an array of statistical techniques including analysis of variance and regression analysis. Using the deterioration models, system inventory and minimum standards, the level of physical needs was determined for the entire pavement and bridge network over the analysis period. Finally, using the identified physical needs and developed cost models, the monetary needs were estimated. An age-based approach (that considers fixed time intervals instead of deterioration trends and minimum standards) was used for the bridge preservation needs. Based on the historical expenditure records and the amount of work performed in the past, simple regression models were developed to estimate future annual pavement and bridge preservation needs. The results obtained proved to be consistent with the engineering analysis.Keywords:
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A building cost estimation model was established based on back propagation(BP) neural networks.The project characteristics determining the cost estimation were obtained from expert experiences.Based on the analysis of 15 typical actual project samples,the BP neural network model subsequently was developed with the EXCEL macro-commands to simulate the non-linear relationships between the project characters and the costs.The model was applied to the cost estimation of actual projects.The results satisfy the requirements of cost estimation.This new method for cost estimation is efficient and accurate.
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This chapter contains sections titled: Importance of Cost Estimation Problems of Cost Estimation Sources and Categories of Project Costs Cost Estimating Methods Cost Estimation Process Allowances for Contingencies in Cost Estimation The Use of Learning Curves in Cost Estimation References Appendix
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Cost contingency
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Abstract: A construction project of any building is mainly based on 3 important steps that are planning, Cost Estimation of the building and proper execution of construction of the building. Construction cost estimation has the lion’s share of the research effort in construction management. The Objective is to analyze the effectiveness of various cost estimation methods by comparing traditional and various online websites. This study will provide more accurate estimates that save time and minimize errors. The research conducted will be helpful for estimation of construction, also proving how the introduction of IT sector in construction industry is turning out to be beneficial. Keywords: Estimation, Construction Management, Online Websites, minimize errors
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Accurate cost estimation is crucial for the success of construction projects worldwide. However, many projects encounter failures due to challenges in this area. Existing research has primarily focused on developing and comparing cost estimation methods, as well as identifying factors and best practices for improving cost estimation performance. Yet, only a limited number of studies have explored deeply into the relationship between these factors and cost estimation performance. This study aims to address this gap by investigating how task characteristics and cost estimation method characteristics affect cost estimation performance from the perspective of cost estimators. Data were collected from cost estimators in construction projects and subsequently analyzed using multiple regression analysis. The results demonstrate that task interdependence and the cost estimation method characteristics significantly impact the cost estimation performance. This study provides novel insights regarding the significance of these method characteristics and sheds light on which task characteristics influence the cost estimation performance. It also provides the importance of fostering a positive organizational culture to mitigate the adverse effects of task interdependence on cost estimation performance. Furthermore, this study recommends further exploration of the interaction between task and cost estimation method characteristics through task-technology fit theory or moderator analysis.
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One of the first tasks in starting a construction project is to estimate the total cost of building a project. In Indonesia there are several standards that are used to calculate the cost estimation of a project. One of the standards used in based on the Ministerial Regulation of Public Work No. 11/2013. However in a construction project, contractor often has their own cost estimation based on their own calculation. This research aimed to compare the construction project total cost using calculation based on the Ministerial Regulation of Public Work No. 11/2013 against the contractor's calculation. Two projects were used as case study to compare the results. The projects were a 4 storey building located in Pantai Indah Kapuk area (West Jakarta) and a warehouse located in Sentul (West Java) which was built by 2 different contractors. The cost estimation from both contractors' calculation were compared to the one based on the Ministerial Regulation of Public Work No. 11/2013. It is found that there were differences between the two calculation around 1.80 % - 3.03% in total cost, in which the cost estimation based on Ministerial Regulation was higher than the contractors' calculations.
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Efforts to incorporate the concerns of bridge users in project and program evaluation are often stymied by lack of a comprehensive and consistent framework for assessing the different user cost types and components. There is a need to synthesize and update existing user cost estimation techniques so that the process of incorporating user costs in bridge investment evaluation can be more consistent and streamlined. Secondly, user costs during bridge work zones have rarely been considered in the literature. Thirdly, there is a need to recognize that a bridge detour may occur for more than one reason, thus there is a danger of multiple counting and this could translate into overestimation of user cost. To address these issues, this paper presents a framework for comprehensive estimation of user costs for bridge management, a methodology for bridge work zone user cost estimation, and an approach to address the issue of multiple counting. Furthermore, the paper develops a method to estimate the bridge user delay cost due to traffic capacity limitation. The methodologies are demonstrated using a case study.
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Construction sector considered as an important sector in most countries, which needs special attention since it is an important part of the growth of the local economy in most countries. The most important stage in construction project is cost estimation process. It is considered as a key of any construction project where it helps the client to decide to either proceed or not with the project. The cost estimation should be well prepared by the quantity surveyor or financial controller prior to the commencement of the project. In order to prepare sound cost estimation, the major factors that may affect the cost estimation should be identified. This paper reviews the factors affect the cost estimation in construction project in different countries namely New Zealand, Nigeria, Peninsular Malaysia and Gaza Strip. The result of the current paper revealed that the most significant factors affect the cost estimation in construction projects found in most of the countries are limited time to prepare estimate due to dateline, inaccuracy and unreliable cost information, unclear detail drawings and specifications, inexperience estimator, incomplete cost information, construction type and location of project.
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Software estimation models should support managerial decision making in software projects. Software cost estimation is the process of predicting the cost and effort required to develop a software system. Many estimation models have been proposed over the last twenty to thirty years. Many software companies track and analyze project performance by measuring cost estimation accuracy. A high estimation error is frequently interpreted as poor estimation skills. One of the problems in software cost estimation is how to evaluate estimation models. A key factor is the accuracy of its estimates in selecting a cost estimation model. Unfortunately, despite the large body of experience with estimation models, the accuracy of these models is not satisfactory. The paper includes comment on the performance of the estimation models and description of several approaches to cost estimation. This paper summarizes several classes of software cost estimation models and techniques.
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