Hyung, W G; Kim, S and Jo, J K (2020) Improved similarity measure in case-based reasoning: A case study of construction cost estimation. Engineering, Construction and Architectural Management, 27(2), pp. 561-578. ISSN 0969-9988
Abstract
Purpose: Applied a hybrid approach using genetic algorithms (GAs) for a case-based retrieval process in order to increase the overall improved cost accuracy for a case-based library. The paper aims to discuss this issue. Design/methodology/approach: A weight optimization approach using case-based reasoning (CBR) with proposed GAs for developing the CBR model. GAs are used to investigate optimized weight generation with an application to real project cases. Findings: The proposed CBR model can reduce errors consistently, and be potentially useful in the early financial planning stage. The authors suggest the developed CBR model can provide decision-makers with accurate cost information for assessing and comparing multiple alternatives in order to obtain the optimal solution while controlling cost. Originality/value: The system can operate with more accuracy or less cost, and CBR can be used to better understand the effects of factor interaction and variation during the developed system’s process.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | construction; decision support systems; estimating; knowledge management |
| Index terms: | construction cost, estimation, cost information, case study, interaction, accuracy, financial planning, decision support, genetic algorithm, case-based reasoning, estimating, knowledge management, variation, methodology |
| Subjects: | financial and cost management, data collection methods, decision analysis, cognitive psychology, behavioral psychology, accounting and finance, research methods, algorithms, contractual condition, professional development |
| Topics: | Cost Management, Information Management, Research Practice, Risk Management, Digital Applications, Contract Administration |
| Descriptive scope: | 4 PCTE |
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