Taylor, R G and Bowen, P A (1987) Building price-level forecasting: An examination of techniques and applications. Construction Management and Economics, 5(1), pp. 21-44. ISSN 01446193
Abstract
Building price indices provide a means of updating cost data for estimating purposes, extrapolation from existing building cost trends, forecasting future price levels, etc. and thus a definite need exists to forecast future building price index levels. In this paper the writers examine a number of forecasting techniques from a hierarchy of forecasting techniques and assess their suitability via the vehicle of the BER building cost index. Special emphasis is placed on the ability of the forecasting methods to model a changing process.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | building; cost; forecasting; index; price; time-series |
| Index terms: | suitability, estimating, cost data, cost index, forecasting |
| Subjects: | economic analysis, prediction and forecasting, financial and cost management, accounting and finance, design criteria |
| Topics: | Design Practice, Cost Management, Business Strategy, 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