Adeli, H and Wu, M (1998) Regularization neural network for construction cost estimation. Journal of Construction Engineering and Management, 124(1), pp. 18-23. ISSN 0733-9364
Abstract
Estimation of the cost of a construction project is an important task in the management of construction projects. The quality of construction management depends on accurate estimation of the construction cost. Highway construction costs are very noisy and the noise is the result of many unpredictable factors. In this paper, a regularization neural network is formulated and a neural network architecture is presented for estimation of the cost of construction projects. The model is applied to estimate the cost of reinforced-concrete pavements as an example. The new computational model is based on a solid mathematical foundation making the cost estimation consistently more reliable and predictable. Further, the result of estimation from the regularization neural network depends only on the training examples. It does not depend on the architecture of the neural network, the learning parameters, and the number of iterations required for training the system. Moreover, the problem of noise in the data is taken into account in a rational manner.
| Item Type: | Article |
|---|---|
| Index terms: | construction cost, estimate, estimation, computational model, construction project, cost estimating, highway construction, neural network |
| Subjects: | financial and cost management, production management, civil engineering, artificial intelligence, modelling and simulation |
| Topics: | Cost Management, Digital Applications, Project Management, Engineering Principles |
| Descriptive scope: | 2 PC |
N.B. Descriptive scope is a count of how many of the five facets of empirical research are indicated by the words used in title, abstract and keywords. It is not intended as a judgement on the research; merely a count of the kind of word we would expect to indicate Phenomenon, Concepts, Theoretical framing, Empirical techniques, Analytical techniques. If all five are present, then a code of “5 PCTEA” will indicate this. If you feel the coding for this record is questionable, we welcome discussion around the terms we matched or the way we categorized them. The facet you would expect may not be coded, or a facet may be coded inappropriately. This can also bear on a larger question, of which facets should be treated as defining in construction management research. Please get in touch, and we will look at it. More details here