Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 6

Cost Estimation Related Publications

6 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

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5 Software Engineering Inspired Cost Estimation for Process Modelling

Authors: Felix Baumann, Dieter Roller, Aleksandar Milutinovic

Abstract:

Up to this point business process management projects in general and business process modelling projects in particular could not rely on a practical and scientifically validated method to estimate cost and effort. Especially the model development phase is not covered by a cost estimation method or model. Further phases of business process modelling starting with implementation are covered by initial solutions which are discussed in the literature. This article proposes a method of filling this gap by deriving a cost estimation method from available methods in similar domains namely software development or software engineering. Software development is regarded as closely similar to process modelling as we show. After the proposition of this method different ideas for further analysis and validation of the method are proposed. We derive this method from COCOMO II and Function Point which are established methods of effort estimation in the domain of software development. For this we lay out similarities of the software development process and the process of process modelling which is a phase of the Business Process Management life-cycle.

Keywords: Business Process Management, Process Modelling, Cost Estimation, effort estimation, COCOMO

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4 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 underestimation 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 improve accuracies. This requires standard measurement methods to be structured in ontological 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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3 A Study on a Research and Development Cost-Estimation Model in Korea

Authors: Yong Soo Kim, Babakina Alexandra

Abstract:

In this study, we analyzed the factors that affect research funds using linear regression analysis to increase the effectiveness of investments in national research projects. We collected 7,916 items of data on research projects that were in the process of being finished or were completed between 2010 and 2011. Data pre-processing and visualization were performed to derive statistically significant results. We identified factors that affected funding using analysis of fit distributions and estimated increasing or decreasing tendencies based on these factors.

Keywords: Cost Estimation, Linear Regression, Preliminary Feasibility Study, R&D funding

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2 Estimating Cost of R&D Activities for Feasibility Study of Public R&D Investment

Authors: Ie-jung Choi

Abstract:

Since the feasibility study of R&D programs have been initiated for efficient public R&D investments, year 2008, feasibility studies have improved in terms of precision. Although experience related to these studies of R&D programs have increased to a certain point, still methodological improvement is required. The feasibility studies of R&D programs are consisted of various viewpoints, such as technology, policy, and economics. This research is to provide improvement methods to the economic perspective; especially the cost estimation process of R&D activities. First of all, the fundamental concept of cost estimation is reviewed. After the review, a statistical and econometric analysis method is applied as empirical analysis. Conclusively, limitations and further research directions are provided.

Keywords: Cost Estimation, R&D Program, Feasibility AnalysisStudy

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1 Methodology of Estimating Assembly Cost by MODAPTS

Authors: Heung Jae Cho, Jae Il Park

Abstract:

This paper presents the development of an MODAPTS based cost estimating system to help designers in estimating the manufacturing cost of a assembly products which is belonged from the workers in working fields. Competitiveness of manufacturing cost is getting harder because of the development of Information and telecommunication, but also globalization. Therefore, the accuracy of the assembly cost estimation is getting important. DFA and MODAPTS is useful method for measuring the working hour. But these two methods are used just as a timetable. Therefore, in this paper, we suggest the process of measuring the working hours by MODAPTS which includes the working field-s accurate information. In addition, we adduce the estimation method of accuracy assembly cost with the real information. This research could be useful for designers that can estimate the assembly cost more accurately, and also effective for the companies that which are concerned to reduce the product cost.

Keywords: Cost Estimation, DFA, MODAPTS, Assembly cost

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