Search results for: Initial Cost

Authors: Mohammed S. Al-Ansari

Abstract:

This paper presents an analytical model to estimate the cost of an optimized design of reinforced concrete isolated footing base on structural safety. Flexural and optimized formulas for square and rectangular footingare derived base on ACI building code of design, material cost and optimization. The optimization constraints consist of upper and lower limits of depth and area of steel. Footing depth and area of reinforcing steel are to be minimized to yield the optimal footing dimensions. Optimized footing materials cost of concrete, reinforcing steel and formwork of the designed sections are computed. Total cost factor TCF and other cost factors are developed to generalize and simplify the calculations of footing material cost. Numerical examples are presented to illustrate the model capability of estimating the material cost of the footing for a desired axial load.

Keywords: Footing, Depth, Concrete, Steel, Formwork, Optimization, Material cost, Cost Factors.

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Authors: A. Kawamura, K. Ishida, K. Okada, T. Sato

Abstract:

Simultaneous measurements of the curves for wear versus distance, wear rate versus distance, and coefficient of friction versus distance were performed in situ to distinguish the transition from severe running-in wear to mild wear. The effects of the initial surface roughness on the severe running-in wear volume were investigated. Disk-on-plate friction and wear tests were carried out with SUS304 austenitic stainless steel in contact with itself under repeated dry sliding conditions at room temperature. The wear volume was dependent on the initial surface roughness. The wear volume when the initial surfaces on the plate and disk had dissimilar roughness was lower than that when these surfaces had similar roughness. For the dissimilar roughness, the wear volume decreased with decreasing initial surface roughness and reached a minimum; it stayed nearly constant as the roughness was less than the mean size of the oxide particles.

Keywords: Austenitic stainless steel, initial surface roughness, running-in, severe wear.

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Authors: Loay A. Al-Zu'be, Asma A. Al-Tamimi, Thakir D. Al-Momani, Ayat J. Alkarala, Maryam A. Alzawahreh

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A two dimensional three segments coupled pendulum system that mathematically models human arm configuration was developed along with constructing and solving the equations of motions for this model using the energy (work) based approach of Lagrange. The equations of motion of the model were solved iteratively both as an initial value problem and as a two point boundary value problem. In the initial value problem solutions, both the initial system configuration (segment angles) and initial system velocity (segment angular velocities) were used as inputs, whereas, in the two point boundary value problem solutions initial and final configurations and time were used as inputs to solve for the trajectory of motion. The results suggest that the model solutions are sensitive to small changes in the dynamic forces applied to the system as well as to the initial and boundary conditions used. To overcome the system sensitivity a new approach is suggested.

Keywords: Body Configurations, Equations of Motion, Mathematical Modeling, Movement Trajectories.

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Authors: Watcharapan Sukkerd, Teeradej Wuttipornpun

Abstract:

This paper aims to present non-population search algorithms called tabu search (TS), simulated annealing (SA) and variable neighborhood search (VNS) to minimize the total cost of capacitated MRP problem in multi-stage assembly flow shop with two alternative machines. There are three main steps for the algorithm. Firstly, an initial sequence of orders is constructed by a simple due date-based dispatching rule. Secondly, the sequence of orders is repeatedly improved to reduce the total cost by applying TS, SA and VNS separately. Finally, the total cost is further reduced by optimizing the start time of each operation using the linear programming (LP) model. Parameters of the algorithm are tuned by using real data from automotive companies. The result shows that VNS significantly outperforms TS, SA and the existing algorithm.

Keywords: Capacitated MRP, non-population search algorithms, linear programming, assembly flow shop.

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Authors: Ilqar Ramazanli

Abstract:

The matrix completion problem has been studied broadly under many underlying conditions. In many real-life scenarios, we could expect elements from distinct columns or distinct positions to have a different cost. In this paper, we explore this generalization under adaptive conditions. We approach the problem under two different cost models. The first one is that entries from different columns have different observation costs, but, within the same column, each entry has a uniform cost. The second one is any two entry has different observation cost, despite being the same or different columns. We provide complexity analysis of our algorithms and provide tightness guarantees.

Keywords: Matrix completion, adaptive learning, heterogeneous cost, Matroid optimization.

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Authors: Jae Young Park, Soongyu Kwon, Kyu Han Kim, Hyeong Geon Lee, Jong Tae Kim

Abstract:

This paper considers the problem of finding low cost chip set for a minimum cost partitioning of a large logic circuits. Chip sets are selected from a given library. Each chip in the library has a different price, area, and I/O pin. We propose a low cost chip set selection algorithm. Inputs to the algorithm are a netlist and a chip information in the library. Output is a list of chip sets satisfied with area and maximum partitioning number and it is sorted by cost. The algorithm finds the sorted list of chip sets from minimum cost to maximum cost. We used MCNC benchmark circuits for experiments. The experimental results show that all of chip sets found satisfy the multiple partitioning constraints.

Keywords: lowest cost chip set, MCNC benchmark, multi-way partitioning.

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Authors: M. Zarei, A. Roozegar, R. Kazemzadeh, J.M. Kauffmann

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This paper describes an efficient and practical method for economic dispatch problem in one and two area electrical power systems with considering the constraint of the tie transmission line capacity constraint. Direct search method (DSM) is used with some equality and inequality constraints of the production units with any kind of fuel cost function. By this method, it is possible to use several inequality constraints without having difficulty for complex cost functions or in the case of unavailability of the cost function derivative. To minimize the number of total iterations in searching, process multi-level convergence is incorporated in the DSM. Enhanced direct search method (EDSM) for two area power system will be investigated. The initial calculation step size that causes less iterations and then less calculation time is presented. Effect of the transmission tie line capacity, between areas, on economic dispatch problem and on total generation cost will be studied; line compensation and active power with reactive power dispatch are proposed to overcome the high generation costs for this multi-area system.

Keywords: Economic dispatch, Power System Operation, Direct Search Method, Transmission Capacity Constraint.

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Authors: Ahmed M. Farag, Wael F. Mohamed, Atef A. Ata, Burhamy M. Burhamy

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In the present paper, an improved initial value numerical technique is presented to analyze the free vibration of symmetrically laminated rectangular plate. A combination of the initial value method (IV) and the finite differences (FD) devices is utilized to develop the present (IVFD) technique. The achieved technique is applied to the equation of motion of vibrating laminated rectangular plate under various types of boundary conditions. Three common types of laminated symmetrically cross-ply, orthotropic and isotropic plates are analyzed here. The convergence and accuracy of the presented Initial Value-Finite Differences (IVFD) technique have been examined. Also, the merits and validity of improved technique are satisfied via comparing the obtained results with those available in literature indicating good agreements.

Keywords: Free Vibrations, Initial Value, Finite Differences, Laminated plates.

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Authors: Sunaitan Al Mutairi

Abstract:

A perfect start is a key factor for project completion on time. The study examined the effects of delayed mobilization of resources during the initial phases of the project. This paper mainly highlights the identification and categorization of all delays during the initial construction phase and their root cause analysis with corrective/control measures for the Kuwait Oil Company oil and gas projects. A relatively good percentage of the delays identified during the project execution (Contract award to end of defects liability period) attributed to mobilization/preliminary activity delays. Data analysis demonstrated significant increase in average project delay during the last five years compared to the previous period. Contractors had delays/issues during the initial phase, which resulted in slippages and progressively increased, resulting in time and cost overrun. Delays/issues not mitigated on time during the initial phase had very high impact on project completion. Data analysis of the delays for the past five years was carried out using trend chart, scatter plot, process map, box plot, relative importance index and Pareto chart. Construction of any project inside the Gathering Centers involves complex management skills related to work force, materials, plant, machineries, new technologies etc. Delay affects completion of projects and compromises quality, schedule and budget of project deliverables. Works executed as per plan during the initial phase and start-up duration of the project construction activities resulted in minor slippages/delays in project completion. In addition, there was a good working environment between client and contractor resulting in better project execution and management. Mainly, the contractor was on the front foot in the execution of projects, which had minimum/no delays during the initial and construction period. Hence, having a perfect start during the initial construction phase shall have a positive influence on the project success. Our research paper studies each type of delay with some real example supported by statistic results and suggests mitigation measures. Detailed analysis carried out with all stakeholders based on impact and occurrence of delays to have a practical and effective outcome to mitigate the delays. The key to improvement is to have proper control measures and periodic evaluation/audit to ensure implementation of the mitigation measures. The focus of this research is to reduce the delays encountered during the initial construction phase of the project life cycle.

Keywords: Construction activities delays, delay analysis for construction projects, mobilization delays, oil and gas projects delays.

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Authors: Mohamed A. Ismail, Samar M. M. Abdelmageed

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The main objective of this paper is to estimate the cost of road traffic accidents in Egypt. The Human Capital (HC) approach, specifically the Gross-Loss-of-Output methodology, is adopted for estimation. Moreover, cost values obtained by previous national literature are updated using the inflation rates. The results indicate an estimated cost of road traffic accidents in Egypt of approximately 10 billion Egyptian Pounds (about $US 1.8 billion) for the year 2008. In addition, it is expected that this cost will rise in 2009 to 11.8 billion Egyptian Pounds (about $US 2.1 billion).

Keywords: Cost, Gross-Loss-of-Output, Human CapitalApproach, Road Traffic Accidents.

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Authors: Alexander Hendricks, Sean Nevin, Clayton Wikoff, Melissa Dougherty, Jacob Orlita, Rafiqul Noorani

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Knee orthotics play an important role in aiding in the recovery of those with knee injuries, especially athletes. However, structural knee orthotics is often very expensive, ranging between $300 and $800. The primary reason for this project was to answer the question: can 3D printed orthotics represent a viable and cost-effective alternative to present structural knee orthotics? The primary objective for this research project was to design a knee orthotic for athletes with knee injuries for a low-cost under $100 and evaluate its effectiveness. The initial design for the orthotic was done in SolidWorks, a computer-aided design (CAD) software available at Loyola Marymount University. After this design was completed, finite element analysis (FEA) was utilized to understand how normal stresses placed upon the knee affected the orthotic. The knee orthotic was then adjusted and redesigned to meet a specified factor-of-safety of 3.25 based on the data gathered during FEA and literature sources. Once the FEA was completed and the orthotic was redesigned based from the data gathered, the next step was to move on to 3D-printing the first design of the knee brace. Subsequently, physical therapy movement trials were used to evaluate physical performance. Using the data from these movement trials, the CAD design of the brace was refined to accommodate the design requirements. The final goal of this research means to explore the possibility of replacing high-cost, outsourced knee orthotics with a readily available low-cost alternative.

Keywords: Knee Orthotics, 3D printing, finite element analysis.

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Authors: Abo-El-Nour N. Abd-Alla, Fatimah A. Alsheikh

Abstract:

This study deals with the phenomena of reflection and transmission (refraction) of qSV-waves, for an incident of quasi transverse vertically waves, at a plane interface of two semi-infinite piezoelectric elastic media under the influence of the initial stresses. The relations governing the reflection and transmission coefficients of these reflected waves for various suitable boundary conditions are derived. We have shown analytically that reflection and transmission coefficients of (qP) and (qSV) waves depend upon the angle of incidence, the parameters of electric potential, the material constants of the medium as will as the initial stresses presented in the media. The numerical calculations of the reflection and transmission amplitude ratios for different values of initial stresses have been carried out by computer for different materials as examples and the results are given in the form of graphs. Finally, some of particular cases are considered.

Keywords: Quasi plane vertical transverse waves, reflection and transmission coefficients, initial stresses, PZT-5H Ceramic, Aluminum Nitride (AlN), Piezoelectricity

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Authors: L. A. S. Dionel, B. A. P. Santos, V. C. P. Lopes, L. G. Vasconcelos, M. A. Soares, E. B. Morais

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This study investigated the biosorption of the azo dye reactive Black B (RBB) from aqueous solution using the nonviable biomass of Cladosporium cladosporioides LM1. The biosorption systems were carried out in batch mode considering different conditions of initial pH, contact time, temperature, initial dye concentration and biosorbent dosage. Higher removal rate of RBB was obtained at pH 2. Biosorption data were successfully described by pseudo-second-order kinetic model and Langmuir isotherm model with the maximum monolayer biosorption capacity estimated at 71.43 mg/g. The values of thermodynamic parameters such as ∆G°, ∆H° and ∆S° indicated that the biosorption of RBB onto fungal biomass was spontaneous and exothermic in nature. It can be concluded that nonviable biomass of Cladosporium cladosporioides LM1 may be an attractive low-cost biosorbent for the removal of azo dye RBB from aqueous solution.

Keywords: Color removal, isotherms and kinetics models, thermodynamic studies, fungus.

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Authors: Elsheikh Asser

Abstract:

Time and cost are the main goals of the construction project management. The first schedule developed may not be a suitable schedule for beginning or completing the project to achieve the target completion time at a minimum total cost. In general, there are trade-offs between time and cost (TCT) to complete the activities of a project. This research presents genetic algorithms (GAs) multiobjective model for project scheduling considering different scenarios such as least cost, least time, and target time.

Keywords: Genetic algorithms, Time-cost trade-off.

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Authors: Farhad Kolahan, Mahdi Abachizadeh

Abstract:

In this paper, a simulated annealing algorithm has been developed to optimize machining parameters in turning operation on cylindrical workpieces. The turning operation usually includes several passes of rough machining and a final pass of finishing. Seven different constraints are considered in a non-linear model where the goal is to achieve minimum total cost. The weighted total cost consists of machining cost, tool cost and tool replacement cost. The computational results clearly show that the proposed optimization procedure has considerably improved total operation cost by optimally determining machining parameters.

Keywords: Optimization, Simulated Annealing, Machining Parameters, Turning Operation.

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Authors: M. M. Isa, R. Abd-Rahman, H. H. Goh

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A compound parabolic concentrator (CPC) is a wellknown non-imaging concentrator that will concentrate the solar radiation onto receiver (PV cell). One of disadvantage of CPC is has tall and narrow height compared to its diameter entry aperture area. Therefore, for economic reason, a truncation had been done by removed from the top of the full height CPC. This also will lead to the decreases of concentration ratio but it will be negligible. In this paper, the flux distribution of untruncated and truncated 2-D hollow compound parabolic trough concentrator (hCPTC) design is presented. The untruncated design has initial height H=193.4mm with concentration ratio C_(2-D)=4. This paper presents the optical simulation of compound parabolic trough concentrator using raytracing software TracePro. Results showed that, after the truncation, the height of CPC reduced 45% from initial height with the geometrical concentration ratio only decrease 10%. Thus, the cost of reflector and material dielectric usage can be saved especially at manufacturing site.

Keywords: Compound parabolic trough concentrator, optical modelling, ray-tracing analysis.

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Authors: Alexander B. Bichkov, Alla A. Mityureva, Valery V. Smirnov

Abstract:

In present work are considered the scheme of evaluation the transition probability in quantum system. It is based on path integral representation of transition probability amplitude and its evaluation by means of a saddle point method, applied to the part of integration variables. The whole integration process is reduced to initial value problem solutions of Hamilton equations with a random initial phase point. The scheme is related to the semiclassical initial value representation approaches using great number of trajectories. In contrast to them from total set of generated phase paths only one path for each initial coordinate value is selected in Monte Karlo process.

Keywords: Path integral, saddle point method, semiclassical approximation, transition probability

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Authors: Javad Elkaie Behjati, Mehrzad Minouei

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The present study aimed to assess the cost of money based on separating deposits and identifying actions and costs affecting in the process of cost of money in EN Bank of Iran (also known as Eghtesad Novin Bank). The method to calculate the cost of money is based on Activity-Based Costing (ABC). To conduct the study, the required data including deposits in banks and absorbed costs related to the same deposits were extracted from the financial statements of the bank. In order to cost the bank services properly as well as determining the commercial strategies required by commercial units, the data are precisely studied and the cost of each deposit is calculated according to the ABC. Eventually, the factors helping to improve the cost management and also a new model to calculate the cost of money in the bank are presented by some applicable formulas. Furthermore, some offers have been provided for users of both sections, in the practical section in commercial units and the theoretical one in universities.

Keywords: The cost of money, activity-based costing, banking, bank deposits, bank fees, services bank.

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Authors: W. Z. Taffese

Abstract:

This work presents a low-cost and eco-friendly building material named Agrostone panel. Africa-s urban population is growing at an annual rate of 2.8% and 62% of its population will live in urban areas by 2050. As a consequence, many of the least urbanized and least developed African countries- will face serious challenges in providing affordable housing to the urban dwellers. Since the cost of building materials accounts for the largest proportion of the overall construction cost, innovating low-cost building material is vital. Agrostone panel is used in housing projects in Ethiopia. It uses raw materials of agricultural/industrial wastes and/or natural minerals as a filler, magnesium-based chemicals as a binder and fiberglass as reinforcement. Agrostone panel reduces the cost of wall construction by 50% compared with the conventional building materials. The pros and cons of Agrostone panel as well as the use of other waste materials as a raw material to make the panel more sustainable, low-cost and better properties are discussed.

Keywords: Agrostone Panel, Low-cost and sustainable Building Materials, Agro-waste for construction

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Authors: T. Theodosiou, P. Polychronidou, A. G. Karasavvoglou

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The latest years the number of immigrants at Greece has increased dramatically. Their impact on the National Health System (NHS) has not been yet thoroughly investigated. This paper analyses the cost of immigrants to the NHS hospitals of the region of Eastern Macedonia and Thrace. The data are collected from 2005 to 2011 from five different hospitals and are analysed using linear mixed effects models in order to investigate the effects of nationality and year on the cost of hospitalization and treatment. The results show that generally the Greek nationality patients have a higher mean cost of hospitalization compared to the immigrants and that there is an increasing trend for the cost except for the year 2010.

Keywords: Cost, Eastern Macedonia, Thrace, immigrants, national health system.

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Authors: Ghaleb Y. Abbasi, Sufyan Al-Mrayat

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This study examined the contribution of 36 factors to building construction project’s cost overrun in Jordan. A questionnaire was distributed to a random sample of 350 stakeholders comprised of owners, consultants, and contractors, of which 285 responded. SPSS analysis was conducted to identify the top five causes of cost overrun, which were a large number of variation orders, inadequate quantities provided in the contract, misunderstanding of the project plan, incomplete bid documents, and choosing the lowest price in the contract bidding. There was an agreement among the study participants in ranking the factors contributing to cost overrun, which indicated that these factors were very commonly encountered in most construction projects in Jordan. Thus, it is crucial to enhance the collaboration among the different project stakeholders to understand the project’s objectives and set a realistic plan that takes into consideration all the factors that might influence the project cost, which might eventually prevent cost overrun.

Keywords: Cost, overrun, building construction projects, Jordan.

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Authors: M. Mahdavi, E. Mahdavi

Abstract:

In this research, STNEP is being studied considering network adequacy and limitation of investment cost by decimal codification genetic algorithm (DCGA). The goal is obtaining the maximum of network adequacy with lowest expansion cost for a specific investment. Finally, the proposed idea is applied to the Garvers 6-bus network. The results show that considering the network adequacy for solution of STNEP problem is caused that among of expansion plans for a determined investment, configuration which has relatively lower expansion cost and higher adequacy is proposed by GA based method. Finally, with respect to the curve of adequacy versus expansion cost it can be said that more optimal configurations for expansion of network are obtained with lower investment costs.

Keywords: TNEP, Network Adequacy, Investment Cost, GA

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Authors: I. Ionascu, M. Ionascu, D.-A. Calu, L. Olimid

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This paper investigates several factors affecting the cost of capital for listed Romanian companies. Although there is a large amount of literature investigating the drivers of the cost of capital internationally, there is currently little evidence from emergent markets. Based on a sample of 19 Romanian listed companies followed by financial analysts for the years 2008-2010, according to Thomson Reuters- I/B/E/S data base, the paper confirms the international trends, showing that size, corporate governance policies, and growth are negatively correlated with the cost of capital.

Keywords: Corporate governance, determinants of the cost of capital, emergent markets.

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Authors: M. Arja, G. Sauce, B. Souyri

Abstract:

Overall cost is a significant consideration in any decision-making process. Although many studies were carried out on overall cost in construction, little has treated the uncertainties of real life cycle development. On the basis of several case studies, a feedback process was performed on the historical data of studied buildings. This process enabled to identify some factors causing uncertainty during the operational period. As a result, the research proposes a new method for assessing the overall cost during a part of the building-s life cycle taking account of the building actual value, its end-of-life value and the influence of the identified life cycle uncertainty factors. The findings are a step towards a higher level of reliability in overall cost evaluation taking account of some usually unexpected uncertainty factors.

Keywords: Asset management, building life cycle uncertainty, building value, overall cost.

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Authors: Derya Eren Akyol, Gonca Tuncel, G. Mirac Bayhan

Abstract:

Activity-Based Costing (ABC) represents an alternative paradigm to traditional cost accounting system and it often provides more accurate cost information for decision making such as product pricing, product mix, and make-orbuy decisions. ABC models the causal relationships between products and the resources used in their production and traces the cost of products according to the activities through the use of appropriate cost drivers. In this paper, the implementation of the ABC in a manufacturing system is analyzed and a comparison with the traditional cost based system in terms of the effects on the product costs are carried out to highlight the difference between two costing methodologies. By using this methodology, a valuable insight into the factors that cause the cost is provided, helping to better manage the activities of the company.

Keywords: Activity-based costing, manufacturing systems, product costs, traditional costing.

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Authors: Reza Fazeli, Vitor Leal, Jorge Pinho de Sousa

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Planning the transition period for the adoption of alternative fuel-technology powertrains is a challenging task that requires sophisticated analysis tools. In this study, a system dynamic approach was applied to analyze the bi-directional interaction between the development of the refueling station network and vehicle sales. Besides, the developed model was used to estimate the transition cost to reach a predefined target (share of alternative fuel vehicles) in different scenarios. Several scenarios have been analyzed to investigate the effectiveness and cost of incentives on the initial price of vehicles, and on the evolution of fuel and refueling stations. Obtained results show that a combined set of incentives will be more effective than just a single specific type of incentives.

Keywords: adoption of Alternative Fuel Vehicles, System Dynamic Analysis, Plug-in Hybrid Vehicles

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Authors: Wei Lo, Ming-En Kuo

Abstract:

While to minimize the overall project cost is always one of the objectives of construction managers, to obtain the maximum economic return is definitely one the ultimate goals of the project investors. As there is a trade-off relationship between the project time and cost, and the project delivery time directly affects the timing of economic recovery of an investment project, to provide a method that can quantify the relationship between the project delivery time and cost, and identify the optimal delivery time to maximize economic return has always been the focus of researchers and industrial practitioners. Using genetic algorithms, this study introduces an optimization model that can quantify the relationship between the project delivery time and cost and furthermore, determine the optimal delivery time to maximize the economic return of the project. The results provide objective quantification for accurately evaluating the project delivery time and cost, and facilitate the analysis of the economic return of a project.

Keywords: Time-Cost Trade-Off, Genetic Algorithms, Resource Integration, Economic return.

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Authors: A. K. Jain, M. C. Paliwal

Abstract:

Construction cost in India is increasing at around 50 per cent over the average inflation levels. It have registered increase of up to 15 per cent every year, primarily due to cost of basic building materials such as steel, cement, bricks, timber and other inputs as well as cost of labour. As a result, the cost of construction using conventional building materials and construction is becoming beyond the affordable limits particularly for low-income groups of population as well as a large cross section of the middle - income groups. Therefore, there is a need to adopt cost-effective construction methods either by up-gradation of traditional technologies using local resources or applying modern construction materials and techniques with efficient inputs leading to economic solutions. This has become the most relevant aspect in the context of the large volume of housing to be constructed in both rural and urban areas and the consideration of limitations in the availability of resources such as building materials and finance. This paper makes an overview of the housing status in India and adoption of appropriate and cost effective technologies in the country.

Keywords: Appropriate, Cost Effective, Ekra, Five year plan, Poverty

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Authors: Chei-Chang Chiou, Sen-Wei Wang, Yu-Min Wang

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The purpose of this study is to investigate the relationship between corporate governance and pricing for initial public offerings (IPOs). Empirical result finds that the prediction of pricing of IPOs with corporate governance added can have a rather higher degree of predicting accuracy than that of non governance added during the training and testing samples. Therefore, it can be observed that corporate governance mechanism can affect the pricing of IPOs

Keywords: Artificial neural networks, corporate governance, initial public offerings.

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

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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: BIM, Construction projects, Cost estimation, NRM, Ontology.

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