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Asmar, M E, Hanna, A S and Whited, G C (2011) New Approach to Developing Conceptual Cost Estimates for Highway Projects. Journal of Construction Engineering and Management, 137(11), 942–9.

Bogus, S M, Diekmann, J E, Molenaar, K R, Harper, C, Patil, S and Lee, J S (2011) Simulation of Overlapping Design Activities in Concurrent Engineering. Journal of Construction Engineering and Management, 137(11), 950–7.

Cass, D and Mukherjee, A (2011) Calculation of Greenhouse Gas Emissions for Highway Construction Operations by Using a Hybrid Life-Cycle Assessment Approach: Case Study for Pavement Operations. Journal of Construction Engineering and Management, 137(11), 1015–25.

Cheng, Y, Yu, C and Wang, H (2011) . Journal of Construction Engineering and Management, 137(11), 933–41.

  • Type: Journal Article
  • Keywords: Construction management; Construction costs; Forecasting; Models;
  • ISBN/ISSN: 0733-9364
  • URL: https://doi.org/10.1061/(ASCE)CO.1943-7862.0000358
  • Abstract:
    Traditional approaches for cost forecasting tend to utilize a single model for the entire construction period. However, a construction project, consisting of different stages, will incur different costs, which may not be accurately captured by a single model. Gates separated the S-curve into three periods. Utilizing the same approach, the accuracy of cost forecasting can be improved by dividing the entire duration of a construction project into three periods. Therefore, this research aims at improving the traditional Grey prediction model by defining the suitable α instead of using 0.5. This new technique applies the golden section and bisection method to optimize α and build the short-interval cost-forecasting model. In each period of the construction phase, a customized optimization-forecasting model is used to estimate each short-interval cost. The proposed models should more closely predict the short-interval cost, which can be utilized to more accurately forecast the expenditure of the subsequent month within each period.

Hallowell, M R and Calhoun, M E (2011) Interrelationships among Highly Effective Construction Injury Prevention Strategies. Journal of Construction Engineering and Management, 137(11), 985–93.

Jin, X (2011) Model for Efficient Risk Allocation in Privately Financed Public Infrastructure Projects Using Neuro-Fuzzy Techniques. Journal of Construction Engineering and Management, 137(11), 1003–14.

Kim, B and Reinschmidt, K F (2011) Combination of Project Cost Forecasts in Earned Value Management. Journal of Construction Engineering and Management, 137(11), 958–66.

Marques, R C and Berg, S (2011) Risks, Contracts, and Private-Sector Participation in Infrastructure. Journal of Construction Engineering and Management, 137(11), 925–32.

Song, Y and Chua, D K H (2011) Requirement and Availability Time-Window Analysis of Intermediate Function. Journal of Construction Engineering and Management, 137(11), 967–75.

Unsal, H I and Taylor, J E (2011) Absorptive Capacity of Project Networks. Journal of Construction Engineering and Management, 137(11), 994–1002.

Young, D A, Haas, C T, Goodrum, P and Caldas, C (2011) Improving Construction Supply Network Visibility by Using Automated Materials Locating and Tracking Technology. Journal of Construction Engineering and Management, 137(11), 976–84.