Stoy, C; Pollalis, S and Schalcher, H R (2008) Drivers for cost estimating in early design: Case study of residential construction. Journal of Construction Engineering and Management, 134(1), pp. 32-39. ISSN 0733-9364
Abstract
This paper proposes the use of a series of independent variables for an early estimation of the building construction cost of residential buildings. Based on 70 German residential properties, these variables serve as the cost drivers of a project, and the regression model, tested against the 70 properties, has a mean absolute percentage error of 9.6%. When applied to predict the cost of five more properties that were excluded from the 70 in the regression model, the percentage error ranges between-12 and 13%. The identified cost drivers are: compactness of the building, number of elevators, size of the project, expected duration of construction, proportion of openings in external walls, and region.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | buildings; residential; cost control; Germany |
| Index terms: | cost control, Germany, building construction, cost estimating, duration, residential construction, residential property, independent variable, estimation, regression model, residential building, case study |
| Subjects: | project controls, building construction, statistical analysis, construction integration, Geography, financial and cost management, data collection methods, construction type |
| Topics: | Cost Management, Business Strategy, Research Practice, Geographical Context, Construction Technology, Time Control |
| Descriptive scope: | 4 PCEA |
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