Elhag, T M S and Boussabaine, A H (2002) Tender price estimation using artificial neural networks II: Modelling. Journal of Financial Management of Property and Construction, 7(1), pp. 49-64. ISSN 1366-4387
Abstract
Embodied The first paper of this two-paper series developed an understanding of how tender price data can be analysed using artificial intelligence techniques and discussed the relationship between tender price and cost attributes. This second paper demonstrates the power and versatility of artificial neural networks (ANN) techniques methods in modelling tender price. The paper explains the problems that affect the modelling of tender price, the modelling process and optimisation of their development and presents and discusses the results generated by the developed models.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | cost, tender price, estimation, modelling, neural networks |
| Index terms: | tender price, estimation, artificial intelligence, neural network, artificial neural network, modelling |
| Subjects: | modelling and simulation, analytical methods, artificial intelligence, financial and cost management, tendering |
| Topics: | Digital Applications, Research Practice, Cost Management, Procurement, Engineering Principles |
| Descriptive scope: | 2 PC |
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