Liu, M and Ling, Y Y (2005) Modeling a contractor's markup estimation. Journal of Construction Engineering and Management, 131(4), pp. 391-399. ISSN 0733-9364
Abstract
The estimation of markup is a difficult process for contractors in a changeable and uncertain construction environment. In this study, a fuzzy logic-based artificial neural network (ANN) model, called the fuzzy neural network (FNN) model, is constructed to assist contractors in making markup decisions. With the fuzzy logic inference system integrated inside, the FNN model provides users with a clear explanation to justify the rationality of the estimated markup output. Meanwhile, with the self-learning ability of ANN, the accuracy of the estimation results is improved. From a survey and interview with local contractors, the factors that affect markup estimation and the rules applied in the markup decision are identified. Based on the finding, both ANN and FNN models were constructed and trained in different project scenarios. The comparison of the two models shows that FNN will assist contractors with markup estimation with more accurate results and convincing user-defined linguistic rules inside.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | bids; contractors; fuzzy sets; neural networks |
| Index terms: | fuzzy logic, fuzzy set, estimation, modelling, rationality, interview, artificial neural network, survey, accuracy, neural network, local contractor |
| Subjects: | decision-making and optimization, decision-making and reasoning, professional development, modelling and simulation, financial and cost management, analytical methods, artificial intelligence, data science, data collection methods, practitioner |
| Topics: | Digital Applications, Cost Management, Research Practice, Engineering Principles, Information Management, Roles and Professions |
| Descriptive scope: | 5 PCTEA |
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