Alqahtani, A and Whyte, A (2013) Artificial neural networks incorporating cost significant items towards enhancing estimation for (life-cycle) costing of construction projects. Construction Economics and Building, 13(3), pp. 51-64. ISSN 2204-9029
Abstract
Industrial application of life-cycle cost analysis (LCCA) is somewhat limited, with techniques deemed overly theoretical, resulting in a reluctance to realise (and pass onto the client) the advantages to be gained from objective LCCA comparison of (sub)component material specifications. To address the need for a user-friendly structured approach to facilitate complex processing, the work described here develops a new, accessible framework for LCCA of construction projects; it acknowledges Artificial Neural Networks (ANNs) to compute the whole-cost(s) of construction and uses the concept of cost significant items (CSI) to identify the main cost factors affecting the accuracy of estimation. ANN is a powerful means to handle non-linear problems and subsequently map relationships between complex input/output data and address uncertainties. A case study documenting 20 building projects was used to test the framework and estimate total running costs accurately. Two methods were used to develop a neural network model; firstly a back-propagation method using MATLAB SOFTWARE; and secondly, spread-sheet optimisation using Microsoft Excel Solver. The best network used 19 hidden nodes, with the tangent sigmoid used as a transfer function for both methods. The results is that in both models, the accuracy of the developed NN model is 1% (via Excel-solver) and 2% (via back-propagation) respectively.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | artificial neural network; back-propagation; cost significant item; excel solver; life cycle cost analysis |
| Index terms: | case study, estimate, running cost, specification, construction project, estimation, propagation, costing, artificial neural network, cost factor, accuracy, neural network, cost analysis, industrial application, life cycle cost analysis |
| Subjects: | contractual condition, artificial intelligence, professional development, modelling and simulation, financial and cost management, economics, production management, accounting and finance, innovation and technology management, engineering process, data collection methods |
| Topics: | Research Practice, Project Management, Contract Administration, Digital Applications, Information Management, Cost Management, Engineering Principles |
| Descriptive scope: | 4 PCEA |
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