Acknowledgement
This research was supported by a grant (06CIT-A03) from Innovative Construction Cost Engineering Research Center funded by Ministry of Construction & Transportation of Korean government.
International conference on construction engineering and project management (국제학술발표논문집)
- 2009.05a
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- Pages.1242-1247
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- 2009
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- 2508-9048(eISSN)
AN APPROXIMATE COST ESTIMATING MODEL FOR CONSTRUCTION PROJECTS
- Daehee Lim (Kunwon Engineering Co., Ltd) ;
- Seung-hoon Lee (Kunwon Engineering Co., Ltd)
- Published : 2009.05.27
Abstract
The sudden changes in the construction market and the progressively intensifying price wars have amplified the importance of the construction cost estimation in the initial and planning phases of construction projects. However the methodologies and process of estimating construction cost in the planning and design phase are not standardized in the domestic market, in contrast to the markets of more developed countries. Therefore this paper proposes a new approximate estimation model to be used from the initial stages of construction projects. This methodology that extracts, modifies and synthesizes comparable elements of previous cases. This will introduce the foundation for the implementation of systems with improved usability and applicability.