scholarly journals Project cost Management Strategy based on Big Data and BIM

2021 ◽  
Vol 275 ◽  
pp. 03027
Author(s):  
Ping Wu
Keyword(s):  
Construction Projects ◽  
Management Strategy ◽  
Cost Management ◽  
Normal Operation ◽  
Construction Process ◽  
Project Cost ◽  
Socialist Market Economy ◽  
Construction Period ◽  
Construction Enterprises ◽  
Socialist Market

With the development of socialist market economy, the current project cost management system in China has gradually exposed some disadvantages, which affect the normal operation and development of construction enterprises to a certain extent. This paper analyzes the research status of PCM, discusses the characteristics of BD technology, the concept of BIMT and the concept of PCM, and finds the method of mutual information feature selection. The results show that in 2020, the output value of construction projects in China is the largest, with 5.54 billion yuan in the first quarter, 5.83 billion yuan in the second quarter, and 6.77 billion yuan in the third quarter. Due to the large number of participants, long construction period and large amount of information in the construction process, these greatly increase the difficulty of PM, but also increase the difficulty of PCM, making some cost problems easier to appear.

scholarly journals Application of Glodon BIM 5D technology in Gucun international foreign language school

2020 ◽  
Vol 143 ◽  
pp. 01023
Author(s):  
Zhijie Yuan ◽  
Hua Li ◽  
Feng Xu
Keyword(s):  
Foreign Language ◽  
3D Model ◽  
Engineering Calculation ◽  
Project Team ◽  
Construction Process ◽  
Project Cost ◽  
Construction Period ◽  
Automatic Calculation ◽  
Language School ◽  
Construction Organization

Glodon BIM5D technology was used in the project of gucun world foreign language school, which connected the BIM 3d model of the project with the construction progress and project cost. The results showed that the project team uses the same model for engineering calculation and valuation. The automatic calculation of the imported model not only improved the accuracy of compiling budget estimates and budgets, but also shortened the time of compiling budget estimates and budgets by 30% and saved the construction period. Glodon BIM 5D was used to get through the model, cost and schedule information to help optimize the construction organization and strengthen the control of the construction process.

scholarly journals An Artificial Neural Network Approach to Predicting Most Applicable Post-Contract Cost Controlling Techniques in Construction Projects

2020 ◽  
Vol 10 (15) ◽  
pp. 5171 ◽  
Author(s):  
Temitope Omotayo ◽  
Awuzie Bankole ◽  
Ayokunle Olubunmi Olanipekun
Keyword(s):  
Decision Support ◽  
Construction Projects ◽  
Cost Management ◽  
Management Practice ◽  
Project Managers ◽  
Construction Process ◽  
Neural Network Approach ◽  
Cost Overruns ◽  
Effective Cost ◽  
Artificial Neural

The post-contract phase of the construction process remains critical to cost management. Several techniques have been used to facilitate effective cost management in this phase. However, the deployment of these techniques has not caused a reduction in the incidence of cost overruns hence casting doubts on their utility. The seeming underwhelming performance posted by these post-contract cost control techniques (PCCTs), has been traced to improper deployment by construction project managers (CPM) and quantity surveyors (QS). Utilizing the perspectives of CPM and QS professionals, as elicited through a survey, produced 135 samples. The instrumentality of the artificial neural networks (ANN) in this study enabled the development of a structured decision-support methodology for analysing the most appropriate PCCTs to be deployed to different construction process phases. Besides showcasing the utility of the emergent ANN-based decision support methodology, the study’s theoretical findings indicate that CPM and QS professionals influence decisions pertaining to PCCTs choice in distinct phases of the construction process. Whereas QS professionals were particularly responsible for the choice of PCCTs during the initial and mid-level phases, CPM professionals assumed responsibility for PCCTs selection during the construction process close-out phase. In construction cost management practice, the crucial PCCTs identifies more with the application of historical data and all cost monitoring approaches.

scholarly journals Key Issues of Green Construction Management and Project Cost Control in the New Era

2021 ◽  
pp. 01-07
Author(s):  
Guoan Wei
Keyword(s):  
Construction Industry ◽  
Construction Management ◽  
Cost Management ◽  
Green Building ◽  
Project Cost ◽  
The Sustainable Development ◽  
Construction Enterprises ◽  
Green Construction ◽  
Construction Project Cost ◽  
Traditional Construction

Green building is the inevitable trend of the development of the construction industry. One of the key links to realize green building is green construction management. The poor economy of traditional construction hinders the smooth promotion of green construction in the construction industry. This paper mainly from the green building and green construction two concepts of related content research. Through the analysis and discussion of the main principles of project cost management in green construction, this paper briefly expounds some implementation measures of project cost management in green construction. This paper deeply discusses the current situation of green construction project cost management, and puts forward relevant improvement countermeasures. The experimental results show that: construction enterprises should make innovative thinking on construction management and bring green construction into project management. This can provide impetus for the sustainable development of the construction industry.

Research on Materials for Construction Projects Cost Control – Taking a Project in Shijiazhuang as an Example

2013 ◽  
Vol 438-439 ◽  
pp. 1846-1850
Author(s):  
Xiang Mei Yu ◽  
Dong Yang Geng ◽  
Zhen Bin Xie
Keyword(s):  
Construction Projects ◽  
Cost Control ◽  
Cost Management ◽  
Construction Project ◽  
Material Management ◽  
Project Cost ◽  
Whole Process ◽  
Material Costs

Through referring to practical projects and analyzing the component proportion ratio of project cost, this paper comes up with the idea that whole process of construction project is all around material management as the key of cost control, puts forward the measures to reduce material costs, and offers reference to cost management of construction project.

Organizational Framework of Construction Cost Management in the Context of the Implementation of Targeted Investment Programs (Through the Example of Moscow)

2020 ◽  
Vol 26 (6) ◽  
pp. 656-664
Author(s):  
Yu. S. Prokhorova ◽  
I. V. Karakozova
Keyword(s):  
Construction Projects ◽  
Cost Management ◽  
Public Investment ◽  
Methodological Approach ◽  
Practical Experience ◽  
Construction Cost ◽  
Construction Process ◽  
Information Monitoring ◽  
Executive Authority ◽  
Organizational Framework

Currently, there is an excess of public investment allocated for the implementation of targeted investment programs related to construction in Moscow compared with the estimated limit, which requires a set of organizational tools for cost management (algorithms, models, methods, tools, etc.) aimed at improving the accuracy and reliability of the estimated construction cost.Aim. The presented study aims to develop a methodological approach to the organization of construction cost management in the context of public investment, with allowance for the enhanced interaction of executive authorities – both with one another and with other participants of the investment-construction process.Tasks. The authors analyze the activities of an executive authority in the development, coordination, and implementation of investment programs for the construction of facilities at the territorial level under modern conditions and develop a methodological approach to construction management with allowance for the enhanced interaction of executive authorities – both with one another and with other participants of the investment-construction process.Methods. The theoretical and methodological basis of this study includes fundamental provisions of management theory, economic theory, cost engineering, pricing in construction, mathematical modeling, project and risk management, practical experience and scientific works of Russian and foreign experts on the problem under consideration.Results. An organizational framework for construction cost management makes it possible to optimize the interaction of executive authorities – both with one another and with other participants of the investment-construction process – and to use methodological approaches to the formation of a reliable maximum limit of public investment for the purpose of implementing investment programs in construction in accordance with the set limit by establishing an Information Monitoring Center and a database to justify the estimated construction cost, creating and maintaining a database (information resource) containing all information about similar objects in accordance with economic efficiency criteria, monitoring implemented objects to update the database of construction projects.Conclusions. A methodological approach to the organization of construction cost management in the context of public investment is developed with allowance for the enhanced interaction of executive authorities - both with one another and with other participants of the investment-construction process.

scholarly journals Application of technical and economic evaluation in construction projects

2017 ◽  
Vol 1 (2) ◽  
Author(s):  
Jiang Hao
Keyword(s):  
Decision Making ◽  
Risk Management ◽  
Economic Evaluation ◽  
Work Experience ◽  
Construction Projects ◽  
Cost Management ◽  
Schedule Control ◽  
Project Cost

Abstract: Technical and economic evaluation is the main means of construction project cost management, risk management and project schedule control. It is widely used in investment decision-making, design and construction phase of construction projects. Based on a large number of documents, this paper first analyzes the definition, connotation, methods and significance of technical and economic evaluation of construction projects. Then, starting with the technical characteristics of construction projects,combined with the previous work experience, the construction engineering project technical and economic evaluation of the application of a brief analysis,for reference purposes only.

Formation Of An Estimate For A State Contract With A Firm Price In The Construction Sector

2020 ◽  
pp. 47-57
Keyword(s):  
Construction Projects ◽  
Cost Of Capital ◽  
Federal Budget ◽  
The State ◽  
Structural Elements ◽  
Construction Sector ◽  
Construction Process ◽  
Practical Application ◽  
Stage Of Development ◽  
Capital Construction

The issues of determining the estimated cost of capital construction projects with the involvement of Federal budget funds at the stage of development of project documentation, during verification of the accuracy of determining the estimated cost and the initial (maximum) contract price are considered. On the basis of the assessment of amendments to urban planning legislation for the purpose of implementing a state contract by the contractor ( based on the results of competitive procedures or without competitive procedures by decision of state authorities), the procedure for forming the estimate as part of a state (municipal) contract, the price of which is firm, is presented. For the purpose of mutual settlements between the customer and the contractor for the work performed, the formation of primary accounting documentation, as well as for checking the work performed by regulatory authorities, an example of drawing up an estimate of the state (municipal) contract on the basis of grouping costs according to structural elements and complexes of work is given. The result of the research conducted was the development of regulations and the formation of criteria for their practical application by state bodies, institutions, organizations and other participants in the investment-construction process, as well as recipients of budget funds, who perform the functions of the state (municipal) customer, developer and technical customer.

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