scholarly journals Composite Criticality in Machinery Fleet Management of Construction Projects

2020 ◽  
Vol 312 ◽  
pp. 02003
Author(s):  
John-Paris Pantouvakis ◽  
Alexander Maravas
Keyword(s):  
Cost Estimation ◽  
Construction Projects ◽  
Fleet Management ◽  
Construction Operations ◽  
Construction Machinery ◽  
Activity Duration ◽  
Machine Reliability ◽  
Worker Performance ◽  
The Individual ◽  
The Cost

During construction operations, fleet management aims at maximizing the uptime and efficiency of construction machinery while also minimizing the cost of ownership through lifecycle planning and management. In the deterministic approach, the theory suggests that one type of machinery is considered to be critical. However, taking into account the real circumstances under which projects are performed with issues such as machine reliability, worker performance, and/or errors in estimating the scope of work, it is evident that there are significant limitations to the existing approach. Hence, to address this issue, uncertainty in fleet productivity is modelled with fuzzy set theory. In this context, the notion of composite criticality under which the productivity of a fleet depends on more than one type of machinery because of the fluctuations of the individual productivities is introduced. To this purpose, a simple case study is presented to illustrate this concept. It is concluded that this approach leads to a better understanding of the estimation of activity duration and cost estimation which in turn means better project scheduling and financial planning.

scholarly journals Cost prediction model based on system dynamics in water resource project

2019 ◽  
Vol 258 ◽  
pp. 02027
Author(s):  
Hirijanto ◽  
I Wayan Mundra ◽  
Addy Utomo
Keyword(s):  
Prediction Model ◽  
Cost Estimation ◽  
Construction Projects ◽  
Model Simulation ◽  
Secondary Data ◽  
System Dynamic ◽  
Cost Prediction ◽  
Cost Component ◽  
The Government ◽  
The Cost

Project’s cost is one of important components in project achievement. Because of the uniqueness of construction projects, cost estimation always differs from project to project. The rate of cost components always change over time make difficult to forecast the cost for the upcoming project. The cost component consists of many influencing variables where there is interrelationship each other affecting to the total project cost. This paper objective is to develop a cost prediction model to assist the project planners in cost estimation for future projects. System dynamic is one of the appropriate methods to analyse system behaviour with interrelationship referring to the historic data, so it is able to predict the future project. Developing the model, primary and secondary data are collected from previous studies, interview with the government planner and survey in Malang Regency. The model simulation is Brick work unit with its components. Data from last thirteen years are used to verify and validate the developed model by causal loop diagram as a basic method in system dynamic. The finding showed that the model is closed to real condition through the validation mechanism. The developed system is useful in decision making of budget planning based on work quantity.

scholarly journals The Analysis of Cost Estimation using Cost Significant Model on Bridge Construction in South Sulawesi

2021 ◽  
Vol 921 (1) ◽  
pp. 012073
Author(s):  
E Aprianti ◽  
S Hamzah ◽  
M A Abdurrahman
Keyword(s):  
Regression Analysis ◽  
Cost Estimation ◽  
Construction Projects ◽  
Steel Frame ◽  
Bridge Construction ◽  
South Sulawesi ◽  
The Cost ◽  
Total Project Cost ◽  
Total Project ◽  
Significant Model

Abstract One of the fundamental problems faced by the province of South Sulawesi is the factor of accessibility, so the role of bridges is quite important. For this reason, the budget planning for standard bridge construction projects also needs to be efficient in terms of preparation and accurate in terms of budget. The Cost Significant Model is one of the total construction cost estimation models that relies more on the prices that have the most influence on the total project cost as the basis for estimation. In general, this study uses data from steel frame bridge construction projects in South Sulawesi Province to formulate a mathematical model with linear regression analysis so that it can be used in the process of estimating similar projects going forward. The Estimation Model which is formed from the regression analysis and the Cost Significant Model in this study, namely; Y = 3.884 (X7) + 0.989 (X8) - 65515.372. With; Y = Estimated Total Cost (Rp/m); X7 = Reinforcement Work Cost (Rp/m); X8 = Steel Frame Structure Work Cost (Rp/m). Where this model can explain 99.7% of the total project cost with a cost model factor of 1.038. The level of accuracy (percentage error estimate) of the estimation results of the Cost Significant Model in this study ranges from - 1.46% to +2.45%.

scholarly journals Efficient Procedure to Scheduling Construction Projects at the Planning Phase

2019 ◽  
Vol 7 (1) ◽  
pp. 60-80 ◽  
Author(s):  
Matiwos Tsegaye
Keyword(s):  
Cost Estimation ◽  
Construction Projects ◽  
Cost Optimization ◽  
Efficient Procedure ◽  
Start Date ◽  
Time Optimization ◽  
Planning Phase ◽  
Short Period ◽  
The Cost ◽  
Construction Schedule

Abstract The construction industry is one of the most important activities that contributes towards the economic growth of any nation. However, the sector has been experiencing problems of cost and time overruns, particularly the problems are significant for the lowest-bid awarded construction projects in the developing countries where inappropriate planning is reported to be one of the major causes. Thus, the paper aims at developing an integrated scheduling approach for construction projects during the planning phase from a project owner’s perspective. The proposed approach integrates cost estimation and schedule in light of practical activity precedence and mathematical cost optimization using different project commencement dates. The study has shown that cost and time optimization model could yield impractical results unless double precedence relations (start-to-start plus finish-to-finish) are imposed between some activities such as trench excavation and pipe laying. It has also demonstrated that the cost and time budgeted during the planning phase would substantially deviate from actual if the planned construction start date slips from the plan, particularly for short period projects. The proposed approach demonstrated in the paper can sufficiently allow planning engineers to develop a comprehensive construction schedule so that the cost and time overruns in the lowest-bid awarded construction projects can be reduced. The paper provides empirical insights into how a robust construction schedule is developed from an owner’s perspective. Cost-time optimization and risk analysis results obtained from manual computation might reduce the reasonable accuracy of the desired cost and schedule integration unless each activity is assigned its own calendar.

scholarly journals A Qualitative Systems Thinking Approach in Understanding the Implementation of Innovation on Construction Projects

2016 ◽  
pp. 1416-1438
Author(s):  
Arun Bajracharya
Keyword(s):  
Systems Thinking ◽  
Construction Projects ◽  
Implementation Process ◽  
Time Factors ◽  
Loop Model ◽  
Construction Firms ◽  
Decision Points ◽  
The Individual ◽  
The Cost ◽  
Systems Thinking Approach

As a leverage to improve productivity and to gain competitive advantage, the concept of innovation has been evolving as an additional dimension in construction apart from the cost, quality and time factors. However, owing to the very nature of the industry and production practices, the rate of innovation in construction is reported to be slower than expected. This paper considers that the source of the problem of the low rate of innovation in construction could be traced in the behaviour of construction firms especially at the production (project) level. The fundamental questions of “why” the construction firms would initiate and implement innovation and “how” the firms would behave and interact during the initiation and implementation process are addressed. A qualitative systems thinking model was developed to depict the behaviour of and interaction among the individual parties that get involved in implementation of innovation on construction projects. Four main sets of feedback loops were developed to explain the dynamics of implementation process of construction innovation. On the feedback loop model, judgment and decision points were identified. The understanding of these points could help in finding the ways to foster innovation in construction.

Individual Cost Estimation in Construction Bidding Process Based on Cost Index

2011 ◽  
Vol 71-78 ◽  
pp. 4652-4657
Author(s):  
Min Chen ◽  
Jian Guo Chen ◽  
Xin Xin Cheng
Keyword(s):  
Cost Estimation ◽  
Average Cost ◽  
Process Model ◽  
Rbf Neural Network ◽  
Practical Significance ◽  
Cost Index ◽  
The Social ◽  
The Individual ◽  
The Cost ◽  
Bidding Process

Tender offer is very important to the construction enterprises in the bidding process. So how to identify the individual cost objectively and efficiently is studied in the essay. The relations of social average cost and individual cost, the factors affecting the individual cost and the difficulty in ascertaining the cost in the bidding process are analyzed. Grey RBF neural network model is built combining with the cost index to obtain the social average cost. The Analytic Hierarchy Process model is made to analyze the rate of each factor affecting the individual cost through expert system. On the basis of the social average cost combining with the affecting rate of each factor, the individual cost could be judged. This method is of practical significance and proved effective through a living example. The conclusion could provide reference for construction enterprise to select the bidding strategy.

A Qualitative Systems Thinking Approach in Understanding the Implementation of Innovation on Construction Projects

2014 ◽  
Vol 3 (4) ◽  
pp. 87-108 ◽  
Author(s):  
Arun Bajracharya
Keyword(s):  
Systems Thinking ◽  
Construction Projects ◽  
Implementation Process ◽  
Time Factors ◽  
Loop Model ◽  
Construction Firms ◽  
Decision Points ◽  
The Individual ◽  
The Cost ◽  
Systems Thinking Approach

As a leverage to improve productivity and to gain competitive advantage, the concept of innovation has been evolving as an additional dimension in construction apart from the cost, quality and time factors. However, owing to the very nature of the industry and production practices, the rate of innovation in construction is reported to be slower than expected. This paper considers that the source of the problem of the low rate of innovation in construction could be traced in the behaviour of construction firms especially at the production (project) level. The fundamental questions of “why” the construction firms would initiate and implement innovation and “how” the firms would behave and interact during the initiation and implementation process are addressed. A qualitative systems thinking model was developed to depict the behaviour of and interaction among the individual parties that get involved in implementation of innovation on construction projects. Four main sets of feedback loops were developed to explain the dynamics of implementation process of construction innovation. On the feedback loop model, judgment and decision points were identified. The understanding of these points could help in finding the ways to foster innovation in construction.

scholarly journals The Cost of Chronic Wounds in Argentina: An Estimation of the Burden in a Public Hospital

2019 ◽  
Author(s):  
Romina Chavez-Jara ◽  
Nicolas Cerusico ◽  
Maria Lazarte ◽  
Carla Cabrera ◽  
Andrea Herrera Bruno ◽  
...  
Keyword(s):  
Cost Estimation ◽  
Laboratory Tests ◽  
Public Hospital ◽  
Chronic Wounds ◽  
Cost Information ◽  
Male And Female ◽  
New Public Health ◽  
The Mean ◽  
The Individual ◽  
The Cost

Background: Chronic lower limb ulcers (CLLU) have an important burden to the individual and the healthcare system.  However, there is a lack of information about the cost of CLLU in Argentina.Objective: To determinate the number and cost of consultation and hospitalization associated to CLLU in a public hospital in Argentina. Methods: Retrospective observational study. Cost estimation were calculated based on days of stay, treatments and laboratory tests in a inpatient population and the number of consultations, treatments and laboratory tests, in a outpatient population. Results: In 2013 and 2014, the overall number of consultation with ICD-10 codes was 7,224 and the number of inpatient was 359. The mean age for male and female outpatient consultations was 59.53(±13.06) years and 59.04(±10.93), respectively. For CLLU male and female inpatient, the mean age was 63.9(±10.4) years and 54.5(±8.6) years, respectively. The length of stay was 22.88 days. There was a mean of 0.41 surgeries per patient where 25% were amputations. The mean annual cost in a single public hospital was US$4,053.65 per inpatient and US$3,589.24 per outpatient. Conclusion: Cost information allows new public health policies to reduce socioeconomic burden due to CLLU.

scholarly journals THE FORMATION PROCEDURE OF THE ESTIMATED CONSTRUCTION COSTS OF ROOM FUNCTION GROUPS

2018 ◽  
pp. 315-321
Author(s):  
N. SAMAL
Keyword(s):  
Cost Estimation ◽  
Capital Investment ◽  
Construction Projects ◽  
Building Construction ◽  
Preliminary Design ◽  
Construction Costs ◽  
Investment Volume ◽  
Calculation Methodology ◽  
Definition Of ◽  
The Cost

The article is concerned with the problem of cost estimation for multifunctional construction projects on the stage of pre-investment feasibility study. For addressing issues such as the definition of capital investment unto the property assets the author considers the procedure of construction cost estimation on the base of the cost indicators of room function groups. On a research basis the author has developed the calculation methodology of the cost indicators of room function groups. Room function groups present the assembly of spatially connected facilities and communication passages which are focused on define operations functions accomplishment. There is the procedure of the application of room function groups costs for the definition of the investment volume in building construction in the phase of poorly detailed preliminary design.

Improving Financial Estimation in Construction Management Through Advanced Computing and Decision Making

2020 ◽  
pp. 146-152
Author(s):  
Varun Gupta ◽  
Aditya Raj Gupta ◽  
Utkarsh Agrawal ◽  
Ambika Kumar ◽  
Rahul Verma
Keyword(s):  
Cost Estimation ◽  
Construction Management ◽  
Construction Projects ◽  
Third Party ◽  
Web Based ◽  
Effective Cost ◽  
The Government ◽  
Past Experiences ◽  
The Cost ◽  
Advanced Computing

The firm or the government invites bids against the tender whenever it requires third party to provide services to it like undertaking construction projects, delivery of material, etc. Interested parties gives their bid prices in sealed envelopes and the lowest bid rate wins the contract. However, contractor, in order to win the contract, may not estimate the cost of the project accurately as the estimation of factors contributing to the costs may be based on educated guesswork according to the past experiences. This increases the chances of the final cost of the project to go up in the end, which is to be borne by contractor. Hence, accurate and effective cost estimation is required. This chapter proposed an algorithm to provide a proper way for the contractors to estimate the accurate cost of the project for which they provide bids. This chapter provides an effective solution to the problem of inaccurate cost estimation. The algorithms are automated using a web-based tool.

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