Model of predicting cost overrun in construction projects
Authors:
- Edyta Plebankiewicz
Abstract
During the construction phase, significant differences between the planned and actual costs of construction projects frequently occur. The paper describes the concept of a model of prediction of the increase in the costs of construction works in relation to those planned. The assumption of the model is to determine the probability of the cost increase for the elements of the object for which it is the largest. A fuzzy Mamdani inference method was proposed for the selection of the elements to be evaluated. In the cost prediction model, fuzzy relations and the compound max-min relations were used. The result of the model are the probabilities of cost overrun for works most exposed to changes in costs. The model can be helpful mainly for the contractor who wants to know not only the probability of the total cost overrun but also the possibility and amount of increase in the costs of individual packages of works or detailed construction works necessary to complete a construction project. Such an approach may help to properly plan expenses related to the implementation and schedule of works along with the cash flow for the project.
- Record ID
- CUT3df05a424f7a49a1b56bb3773f5cbfb5
- Publication categories
- ;
- Author
- Journal series
- Sustainability, ISSN , e-ISSN 2071-1050, Biweekly
- Issue year
- 2018
- Vol
- 10
- No
- 12
- Pages
- [1-14]
- Other elements of collation
- schem.; tab.; wykr.; Bibliografia (na s.) - 13-14; Bibliografia (liczba pozycji) - 25; Oznaczenie streszczenia - Abstr.; Numeracja w czasopiśmie - Vol. 10, Iss. 12
- Keywords in English
- cost overrun, construction project, fuzzy sets
- DOI
- DOI:10.3390/su10124387 Opening in a new tab
- URL
- https://www.mdpi.com/2071-1050/10/12/4387 Opening in a new tab
- Language
- eng (en) English
- License
- Score (nominal)
- 20
- Publication indicators
- = 30
- Additional fields
- Indeksowana w: Web of Science, Scopus
- Uniform Resource Identifier
- https://cris.pk.edu.pl/info/article/CUT3df05a424f7a49a1b56bb3773f5cbfb5/
- URN
urn:pkr-prod:CUT3df05a424f7a49a1b56bb3773f5cbfb5
* presented citation count is obtained through Internet information analysis, and it is close to the number calculated by the Publish or PerishOpening in a new tab system.