Cost Prediction Model for Building Construction Projects


Authors : Nisha Baby M, Harishma Ravindran.

Volume/Issue : Volume 3 - 2018, Issue 4 - April

Google Scholar : https://goo.gl/DF9R4u

Scribd : https://goo.gl/cv9CxY

Thomson Reuters ResearcherID : https://goo.gl/3bkzwv

Abstract : The building construction industry facing the major problem is that building contracts are completed at sums much higher than estimated cost, hence the need to develop predictive cost model that capture factors affecting project cost using principal components regression. The cost prediction model is created with the help of SPSS software, the factors influencing the project cost are already determined with the help of questionnaire survey. Ten major factors are selected for the cost prediction modeling.

Keywords : overrun, Model, Prediction, Principal components.

The building construction industry facing the major problem is that building contracts are completed at sums much higher than estimated cost, hence the need to develop predictive cost model that capture factors affecting project cost using principal components regression. The cost prediction model is created with the help of SPSS software, the factors influencing the project cost are already determined with the help of questionnaire survey. Ten major factors are selected for the cost prediction modeling.

Keywords : overrun, Model, Prediction, Principal components.

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