Kim, C S and Liu, L Y (2007) Cost information model for managing multiple projects. Journal of Construction Engineering and Management, 133(12), pp. 966-974. ISSN 0733-9364
Abstract
Construction companies must deal with several projects at once, but a system to manage multiple projects is not fully developed yet. The first step towards developing such system is to design an information model that is suitable for managing multiple projects. This paper presents the cost-based project modeling (CBPM) method in contrast to the traditional activity-based project modeling methods. The CBPM uses cost as a core of the model along with other project information organized around it. The CBPM serves as a platform for integrating project information from multiple projects. Various types of construction costs are hierarchically modeled to generate corporate-wide information such as project performances, cash flows, and other predictive indicators. Based on the information model, an object-oriented database was developed to contain cost data across several projects. In the model, a module that connects to external systems is built into the model to enhance interactivity with the legacy systems and the industry standards. A prototype system was developed and tested with actual project data to validate the information processing capabilities of the model. The findings from the test indicate construction cost can be an excellent medium that can organize various types of information of multiple projects.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | construction cost; databases; information management; information technology; project management |
| Index terms: | cost data, modelling, information processing, project management, module, project performance, construction cost, database, cost information, platform, information technology, prototype, project data, construction company, cash flow |
| Subjects: | data management, architectural elements, financial management, accounting and finance, digital design, project management theory and practice, modelling and simulation, data science, analytical methods, financial and cost management, data collection methods, organization, computing systems |
| Topics: | Digital Applications, Design Practice, Engineering Principles, Project Management, Research Practice, Business Strategy, Cost Management |
| Descriptive scope: | 3 PCE |
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