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Cheng, E W L and Li, H (2006) Job Performance Evaluation for Construction Companies: An Analytic Network Process Approach. Journal of Construction Engineering and Management, 132(08), 827–35.

Cheung, S O, Yiu, T W and Yeung, S F (2006) A Study of Styles and Outcomes in Construction Dispute Negotiation. Journal of Construction Engineering and Management, 132(08), 805–14.

Chung, T H, Mohamed, Y and AbouRizk, S (2006) Bayesian Updating Application into Simulation in the North Edmonton Sanitary Trunk Tunnel Project. Journal of Construction Engineering and Management, 132(08), 882–94.

de la Cruz, M P, del Caño, A and de la Cruz, E (2006) Downside Risks in Construction Projects Developed by the Civil Service: The Case of Spain. Journal of Construction Engineering and Management, 132(08), 844–52.

Iyer, K C and Jha, K N (2006) Critical Factors Affecting Schedule Performance: Evidence from Indian Construction Projects. Journal of Construction Engineering and Management, 132(08), 871–81.

JaÅ›kowski, P and Sobotka, A (2006) Scheduling Construction Projects Using Evolutionary Algorithm. Journal of Construction Engineering and Management, 132(08), 861–70.

Kaiser, M J and Iledare, W O (2006) The Gulf of Mexico Decommissioning Market. Journal of Construction Engineering and Management, 132(08), 815–26.

Perttula, P, Korhonen, P, Lehtelä, J, Rasa, P, Kitinoja, J, Mäkimattila, S and Leskinen, T (2006) Improving the Safety and Efficiency of Materials Transfer at a Construction Site by Using an Elevator. Journal of Construction Engineering and Management, 132(08), 836–43.

Touran, A and Lopez, R (2006) Modeling Cost Escalation in Large Infrastructure Projects. Journal of Construction Engineering and Management, 132(08), 853–60.

  • Type: Journal Article
  • Keywords: Capital costs; Risk management; Scheduling; Probabilistic models; Cost control; Infrastructure;
  • ISBN/ISSN: 0733-9364
  • URL: https://doi.org/10.1061/(ASCE)0733-9364(2006)132:8(853)
  • Abstract:
    Cost overruns in large infrastructure projects have been commonplace in the past decades. Budgeting for cost escalation is a major issue in the planning phase of these projects. In this paper, we first review various methods of forecasting escalation factor and study the changes in construction costs in the past 25 years by analyzing movements of a cost index. We then introduce a system for modeling the escalation uncertainty in large multiyear construction projects. The system uses a Monte Carlo simulation approach and considers variability of project component durations and the uncertainty of escalation factor during the project lifetime and calculates the distribution for the cost. System application is demonstrated using a numerical example. The system can be used by planners and cost estimators for budgeting the effect of cost escalation in large projects with multiyear schedules.

Waara, F and Bröchner, J (2006) Price and Nonprice Criteria for Contractor Selection. Journal of Construction Engineering and Management, 132(08), 797–804.