Saeidlou, S and Ghadiminia, N (2024) A construction cost estimation framework using DNN and validation unit. Building Research & Information, 52(1-2), pp. 38-48. ISSN 0961-3218
Abstract
Accurate construction cost estimation is crucial to completing projects within the planned timeframe and expenditure. The estimation process depends on multiple variables maintaining complex relationships between themselves and the target cost. As a result, an in-depth analysis from an experienced construction consultant is required to estimate construction costs accurately. Machine learning (ML) technology can learn from previous data, which is equivalent to human experience. Many project-specific ML models estimate the construction cost, which misses the generalizability. This paper addresses the gap and designs, develops, implements, and analyzes a deep learning (DL) based novel framework that maps 94.67% of the independent variables with a mean average percentage error (MAPE) of 11.60%. The proposed framework is not limited to any specific project. It estimates the construction cost of similar projects, further validated by an innovative estimator validation unit.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | construction cost estimation; deep learning; framework; validator |
| Index terms: | validation, estimator, machine learning, maps, estimate, estimation, deep learning, target cost, construction cost, independent variable |
| Subjects: | artificial intelligence, financial and cost management, profession, statistical analysis, spatial and geospatial analysis, economics, professional development |
| Topics: | Digital Applications, Roles and Professions, Cost Management, Information Management, Research Practice |
| Descriptive scope: | 3 PCA |
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