Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 3

Cost Estimation Related Abstracts

3 Towards an Intelligent Ontology Construction Cost Estimation System: Using BIM and New Rules of Measurement Techniques

Authors: F. H. Abanda, B. Kamsu-Foguem, J. H. M. Tah

Abstract:

Construction cost estimation is one of the most important aspects of construction project design. For generations, the process of cost estimating has been manual, time-consuming and error-prone. This has partly led to most cost estimates to be unclear and riddled with inaccuracies that at times lead to over- or under-estimation of construction cost. The development of standard set of measurement rules that are understandable by all those involved in a construction project, have not totally solved the challenges. Emerging Building Information Modelling (BIM) technologies can exploit standard measurement methods to automate cost estimation process and improves accuracies. This requires standard measurement methods to be structured in ontologically and machine readable format; so that BIM software packages can easily read them. Most standard measurement methods are still text-based in textbooks and require manual editing into tables or Spreadsheet during cost estimation. The aim of this study is to explore the development of an ontology based on New Rules of Measurement (NRM) commonly used in the UK for cost estimation. The methodology adopted is Methontology, one of the most widely used ontology engineering methodologies. The challenges in this exploratory study are also reported and recommendations for future studies proposed.

Keywords: Ontology, Cost Estimation, bim, Construction Projects, NRM

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2 A Concept to Assess the Economic Importance of the On-Site Activities of ETICS

Authors: V. Sulakatko, F. U. Vogdt, I. Lill

Abstract:

Construction technology and on-site construction activities have a direct influence on the life cycle costs of energy efficiently renovated apartment buildings. The systematic inadequacies of the External Thermal Insulation Composite System (ETICS) which occur during the construction phase increase the risk for all stakeholders, reduce mechanical durability and increase the life cycle costs of the building. The economic effect of these shortcomings can be minimised if the risk of the most significant on-site activities is recognised. The objective of the presented ETICS economic assessment concept is to evaluate the economic influence of on-site shortcomings and reveal their significance to the foreseeable future repair costs. The model assembles repair techniques, discusses their direct cost calculation methods, argues over the proper usage of net present value over the life cycle of the building, and proposes a simulation tool to evaluate the risk of on-site activities. As the technique is dependent on the selected real interest rate, a sensitivity analysis is anticipated to determine the validity of the recommendations. After the verification of the model on the sample buildings by the industry, it is expected to increase economic rationality of resource allocation and reduce high-risk systematic shortcomings during the construction process of ETICS.

Keywords: Life Cycle Costing, Cost Estimation, ETICS, activity-based cost estimating

Procedia PDF Downloads 187
1 Boosting Profits and Enhancement of Environment through Adsorption of Methane during Upstream Processes

Authors: Sudipt Agarwal, Siddharth Verma, S. M. Iqbal, Hitik Kalra

Abstract:

Natural gas as a fuel has created wonders, but on the contrary, the ill-effects of methane have been a great worry for professionals. The largest source of methane emission is the oil and gas industry among all industries. Methane depletes groundwater and being a greenhouse gas has devastating effects on the atmosphere too. Methane remains for a decade or two in the atmosphere and later breaks into carbon dioxide and thus damages it immensely, as it warms up the atmosphere 72 times more than carbon dioxide in those two decades and keeps on harming after breaking into carbon dioxide afterward. The property of a fluid to adhere to the surface of a solid, better known as adsorption, can be a great boon to minimize the hindrance caused by methane. Adsorption of methane during upstream processes can save the groundwater and atmospheric depletion around the site which can be hugely lucrative to earn profits which are reduced due to environmental degradation leading to project cancellation. The paper would deal with reasons why casing and cementing are not able to prevent leakage and would suggest methods to adsorb methane during upstream processes with mathematical explanation using volumetric analysis of adsorption of methane on the surface of activated carbon doped with copper oxides (which increases the absorption by 54%). The paper would explain in detail (through a cost estimation) how the proposed idea can be hugely beneficial not only to environment but also to the profits earned.

Keywords: Adsorption, Cost Estimation, Cementing, casing, volumetric analysis

Procedia PDF Downloads 52