Phaobunjong, K (2002) Parametric cost estimating model for conceptual cost estimating of building construction projects. PhD thesis, University of Texas at Austin, USA.
Abstract
It is well known that decisions at early stages of a construction project have the highest impact on the subsequent project performances. One of the bases for these important decisions is the project's conceptual cost estimate. It is the first serious effort at attempting to predict the cost of the project. Conceptual estimates are made in the early phases of a project before construction drawings are completed, often before they are begun. The primary function of a conceptual estimate is to tell the owner about the anticipated cost, thus being useful information for the owner in contemplating the project feasibility and further project development. This research identifies building parameters that significantly influence the cost of building construction projects. The research presents methodologies for data collection, database development, data analyses, and parametric cost estimating model development for the purpose of performing building conceptual cost estimate. The data used in the model development and validation were based on the historical project data collected from the Texas Higher Education Coordinating Board (THECB). The data consist of 168 new building projects, built from 1990 to 2000. The technique of multiple regression analysis is used to develop the parametric cost estimating model by establishing the cost estimating relationships between the building parameters and the building construction cost. The purpose of this study is to develop a reasonably accurate and practical method of systematized conceptual cost estimating that can be used by organizations involved in the planning and execution of construction projects, such as THECB and the offices of facilities planning of the major universities in Texas. The concepts and methodologies presented in the study can also be readily applied to other similar organizations.
| Item Type: | Thesis (Doctoral) |
|---|---|
| Thesis advisor: | Popescu, C M |
| Uncontrolled Keywords: | education; higher education; construction cost; cost estimating; estimating; owner; multiple regression; regression analysis; validation; construction project; project performance |
| Index terms: | project performance, multiple regression analysis, regression analysis, cost estimating, project development, construction cost, construction project, estimate, data analysis, higher education, facilities planning, estimating, drawing, database, project data, building construction, methodology, cost estimate, model development, project feasibility, multiple-regression, validation, owner |
| Subjects: | statistical analysis, technical documentation, sociology, data analysis and analytics, value management, data collection methods, design process, research methods, project management theory and practice, production management, analytical methods, financial and cost management, building construction, educational institutions, professional development, data management, project delivery |
| Topics: | Stakeholder Management, Education, Cost Management, Engineering Principles, Construction Technology, Design Practice, Information Management, Research Practice, Project Management, Digital Applications |
| Descriptive scope: | 5 PCTEA |
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