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Abu‐Hijleh, S F and Ibbs, C W (1993) Systematic Automated Management Exception Reporting. Journal of Construction Engineering and Management, 119(01), 87–104.

Beliveau, Y J, Dixit, S S, Dal, T and Morad, A A (1993) Multitask Motion Planning for Material Handling in Construction. Journal of Construction Engineering and Management, 119(01), 180–91.

Diaz, C F and Hadipriono, F C (1993) Nondeterministic Networking Methods. Journal of Construction Engineering and Management, 119(01), 40–57.

Everett, J G and Slocum, A H (1993) CRANIUM: Device for Improving Crane Productivity and Safety. Journal of Construction Engineering and Management, 119(01), 23–39.

Federle, M O, Rowings, J E and DeVany, T S (1993) Model of Career Choice for Craftworkers. Journal of Construction Engineering and Management, 119(01), 105–14.

Ioannou, P G and Leu, S (1993) Average‐Bid Method—Competitive Bidding Strategy. Journal of Construction Engineering and Management, 119(01), 131–47.

Jeljeli, M N, Russell, J S, Meyer, H W G and Vonderohe, A P (1993) Potential Applications of Geographic Information Systems to Construction Industry. Journal of Construction Engineering and Management, 119(01), 72–86.

Johnson, K D and Tatum, C B (1993) Technology in Marine Construction Firms. Journal of Construction Engineering and Management, 119(01), 148–62.

Kelley, M N (1993) Second Roebling Lecture 1991. Journal of Construction Engineering and Management, 119(01), 1–5.

Murtaza, M B, Fisher, D J and Skibniewski, M J (1993) Knowledge‐Based Approach to Modular Construction Decision Support. Journal of Construction Engineering and Management, 119(01), 115–30.

Sanders, S R and Thomas, H R (1993) Masonry Productivity Forecasting Model. Journal of Construction Engineering and Management, 119(01), 163–79.

Stewart, M G (1993) Modeling Human Performance in Reinforced Concrete Beam Construction. Journal of Construction Engineering and Management, 119(01), 6–22.

Touran, A (1993) Probabilistic Cost Estimating with Subjective Correlations. Journal of Construction Engineering and Management, 119(01), 58–71.

  • Type: Journal Article
  • Keywords: Correlation; Cost estimates; Monte Carlo method; Probabilistic methods; Construction costs;
  • ISBN/ISSN: 0733-9364
  • URL: https://doi.org/10.1061/(ASCE)0733-9364(1993)119:1(58)
  • Abstract:
    One of the difficulties in probabilistic estimating is accounting for the existing correlations among cost components modeled as random variables. Even if the estimator is aware of the existence of correlations among random variables, calculating accurate values of correlation coefficients is not feasible most of the time. A methodology for generating correlated random numbers in a Monte Carlo simulation for construction cost estimating is reviewed. A methodology is then suggested that simplifies the process of incorporating the effect of correlation coefficients in probabilistic estimating. This methodology consists of assigning subjective measures of correlation between variables. Also, a method is suggested for adjusting the covariance matrix in which correlation estimates are not accurate. Procedures presented are further explained by two examples using actual construction cost data.