Development of a computer model for cost estimation in educational buildings

Abstract

Cost estimating in construction is critical at the early stage of the project in order to determine whether the project is feasible or not to the client. Cost estimators are facing numerous difficult moments due to incomplete project details and unavailability of cost estimation instruments in early stages of a project. This issue uplifts the necessity of novel and advanced cost model which would be simple, understandable and more reliable. Within the Sri Lankan context, the accuracy of the estimated amount is solely based on the experience and skills of the estimator due to unavailability of reliable cost estimation tool for educational institution buildings in Sri Lanka. Therefore, this paper aims to discuss about the development of a computer model for cost estimation in educational buildings with the current practices and related issues in preparing preliminary project estimates. Semi structured interviews were conducted between twelve experts from consultancy and contractor organisations and the necessary cost data were selected from twenty educational buildings. The Multiple Regression Analysis and Artificial Neural Network methods were utilised to analyse the collected data. Each method has a unique way of building relationships between predictors and responses. However, both the methods were succeeded only in estimating cost of limited number of sub-elements. Multiple Regression Analysis succeeded on five occasions and Artificial Neural Network method had presented efficacy in seven sub-elements only. Altogether eight elements were succeeded in estimating the cost of an educational institution buildings.