Predicting Accuracy of Early Cost Estimates Based on Estimate Quality
| Autor: | Steven M. Trost, Garold D. Oberlender |
|---|---|
| Rok vydání: | 2001 |
| Předmět: |
Measure (data warehouse)
Scoring system Cost estimate Computer science Strategy and Management media_common.quotation_subject Building and Construction Statistical analyses Industrial relations Computer software Statistics Econometrics Quality (business) Civil and Structural Engineering media_common |
| Zdroj: | Journal of Construction Engineering and Management. 127:173-182 |
| ISSN: | 1943-7862 0733-9364 |
| Popis: | The accuracy of an estimate is measured by how well the estimated cost compares to the actual total installed cost. The accuracy of an early estimate depends on four determinants: (1) who was involved in preparing the estimate; (2) how the estimate was prepared; (3) what was known about the project; and (4) other factors considered while preparing the estimate. This paper presents results of a research effort that developed an estimate scoring system to measure the impact of these four determinants on estimate accuracy. The estimate scoring system consists of 45 elements and is organized into 4 divisions. Data were collected from 67 projects, representing $5.6 billion in total installed costs, and used to correlate the estimate scores with estimated versus actual costs. Statistical analyses determined the relative influence of the 45 elements, based on collected project data. The results showed a significant correlation between the estimate score and the accuracy of the estimate. Computer software, the Es... |
| Databáze: | OpenAIRE |
| Externí odkaz: |
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