scholarly journals The Precise Estimation of Development Project Cost and its Life Cycle

2021 ◽  
pp. 5-16
Author(s):  
I. L. Vladimirova ◽  
Yu Yu. Kosareva ◽  
G. Yu. Kallaur ◽  
A. A. Tsygankova
Keyword(s):  
Life Cycle ◽  
Affordable Housing ◽  
Cost Estimation ◽  
Cost Management ◽  
Development Project ◽  
Life Cycles ◽  
Design Parameters ◽  
Project Cost ◽  
Precise Estimation ◽  
Project Life

Development plays a significant role in working out national projects in the field of house-building aimed at providing high-quality and affordable housing for the population of Russia. The key indicator for the development project is its cost, which affects both affordability for the population and finance and economic figures of the developer. Therefore, the system of cost management in the development company shall be formalized on the basis of design parameters, characterizing the project cost at all stages of the life cycle. The article proposes to use four interconnected indicators, the precise estimation of the project cost is assumed to be the principle one in the research. The authors worked out the model of development project cost management with due regard to stages of its life cycle, showed key events and relevant control points to assess precision, investigated and described methods of cost estimation at certain stages of the project life cycle (PLC). On the basis of real development projects they analyzed precision of cost estimation by stages of life cycle and plotted the graph ‘precision funnel’. The general positive dynamics in precise cost estimation was discovered, however the range of indicator incoherence would not allow us to adopt universal recommendations on its appraisal. The analysis showed the necessity to improve precision of cost estimation at early stages of project life cycles, which impacts the efficiency of the development project.

Research on the System of the Construction Project Life Cycle Cost Risk Management

2011 ◽  
Vol 94-96 ◽  
pp. 2329-2332
Author(s):  
Hong Ping Wang ◽  
Yun Peng Hu
Keyword(s):  
Risk Management ◽  
Life Cycle ◽  
Life Cycle Cost ◽  
Cost Management ◽  
Risk Identification ◽  
Project Cost ◽  
Management Objectives ◽  
Project Life Cycle ◽  
Project Life ◽  
Cost Risk

Risk management is an important component of the project life cycle cost management and the project cost risk management system includes management objectives identification, risk factors analysis, risk identification, risk assessment, risk management and risk information feedback. The objectives of the project cost management can be successfully achieved through the life cycle cost risk management of various stages.

scholarly journals Cost estimation and management over the life cycle of metallurgical research projects

2019 ◽  
Vol 19 ◽  
pp. 137-156
Author(s):  
M M Odendaal ◽  
F NS Vermaak ◽  
E Du Toit
Keyword(s):  
Life Cycle ◽  
Cost Estimation ◽  
Life Cycles ◽  
Accurate Estimation ◽  
Research Projects ◽  
Cost Estimates ◽  
Cost Overruns ◽  
Face To Face ◽  
Average Size ◽  
Project Life

This study investigates whether all expected costs over the life cycle of metallurgical research projects are included in initial, normal and final cost estimates, and whether these costs are managed throughout a project’s life cycle since there is not enough emphasis on the accurate estimation of costs and their management over the life cycle of metallurgical research projects. The study also determines during which phase of the life cycle of metallurgical research projects’ costs are normally determined, during which phase most of the costs are incurred, and during which phase costs are managed. Project life cycles, techniques of cost estimation and cost management are examined. 10A survey was used to gather information by means of face-to-face and telephonic interviews, as well as an electronic questionnaire. The total population of entities in South Africa that conduct metallurgical research projects is small, numbering only 12 in all. The ten entities that conducted the largest metallurgical research projects in terms of average size were selected for this study. 11The conclusion drawn from the survey was that all costs over the life cycle of metallurgical research projects are not taken into account in the initial cost estimate of a project. Costs are mainly managed during the growth phase of a project and not during the introduction phase, when 80% of the costs are normally committed. The implication of this is that cost estimates for metallurgical research projects may not be accurate and costs are not necessarily managed properly throughout the life cycle of such projects. This may lead to cost overruns of project budgets, project budgets being depleted before the delivery stage and research sections running at a loss.

Project Life-Cycle Planning and Methodologies

2003 ◽  
pp. 168-192
Author(s):  
Len Asprey ◽  
Michael Middleton
Keyword(s):  
Life Cycle ◽  
Product Development ◽  
Management Plan ◽  
Life Cycles ◽  
Successful Implementation ◽  
Project Organization ◽  
Life Cycle Stages ◽  
Project Deliverables ◽  
Life Cycle Development ◽  
Project Life

This chapter deals with the planning aspects of an IDCM project, including scope, feasibility, and life-cycle development. It reviews the typical project deliverables that may be used during planning and subsequent phases. The objectives are to consider and discuss: • The importance of planning to the successful implementation of an IDCM solution, and the need to distinguish between product development and project life-cycles; • A product development life-cycle that enterprises can use for an IDCM project; • The steps involved in initiating and defining an IDCM project; • An approach to aligning the development of a management framework with requirements for enabling an IDCM solution, including a review of key life-cycle stages; • Development of a project organization structure that may be applicable for an enterprise IDCM project; • Identification of a set of risks to form the basis of a Risk Management Plan; and • Methodologies suitable for an IDCM project.

Methodological Aspects of Modeling Concept Value Assessment of Live Cycles in the Assessment Activities in the Russia

2020 ◽  
Vol 144 ◽  
pp. 80-91
Author(s):  
Kirill Yu. Kulakov ◽  
Keyword(s):  
Economic Development ◽  
Life Cycle ◽  
Cost Management ◽  
Life Cycles ◽  
Economic Problem ◽  
High Tech ◽  
Value Assessment ◽  
Effective Implementation ◽  
Socio Economic Development ◽  
The Cost

The article discusses the subject of research, focused on the study of the transformation processes of the valuation methodology, focused on the effective management of sustainable and breakthrough socio-economic development by ensuring the effective implementation of National projects using the results of the value management genesis in valuation activities based on the use of the concept of cost-based life cycle assessment The relevance of this study is determined by the importance of solving the national economic problem of the need to ensure the launch of innovative high-tech investment cycles for the development of industries, enterprises and investment projects based on the formation of an updated methodological base for valuation activities. Moreover, it is proposed to use the model of formalizing the processes of valuation and cost and cost management in economic systems based on the life cycles of goods, products and works as the main evaluative ideology. The aim of the study is to develop a set of relevant methodological proposals for modeling the concepts of valuation of life cycles in the valuation of Russia in order to ensure its transformation that is sufficient for cost management of sustainable and breakthrough socio-economic development of the country through ensuring the effective implementation of national projects. The object of the study is the development of theoretical principles and conceptual approaches for modeling the methodological foundations of valuing and managing the life cycles of goods and products in the process of implementing national projects based on minimizing the cost of their life cycles, life cycle contracts, total costs and the cost of ownership of life cycles. As applied research methods, a comprehensive approach was used, based on analysis and synthesis, logical analysis, expert approach, methods of economic and mathematical modeling and forecasting.

scholarly journals Sustainable modeling the life cycle of a real estate development project

2019 ◽  
Vol 135 ◽  
pp. 04041
Author(s):  
Elena Gusakova
Keyword(s):  
Life Cycle ◽  
Strategic Planning ◽  
Real Estate ◽  
Development Project ◽  
Modern Concept ◽  
Real Estate Development ◽  
Development Projects ◽  
Positive Effects ◽  
Project Life Cycle ◽  
Project Life

The most well-thought-out strategic planning of real estate development projects is an extremely urgent task. A real estate development project affects the building area throughout the life cycle. The modern concept of the planning horizon of a development project should be based on the analysis of its full life cycle and the consideration of various positive and negative external effects in design decisions. For this purpose, the accumulated representative experience has been studied, the most relevant and demanded areas of forecast analysis have been identified and analyzed, which determine the strategy and specifics of real estate development projects in the early stages. The following specific areas of analysis of the development project were identified: the long-term trend of development of the building t area, scenarios of the project life cycle, the adaptability of project decisions to changes, involvement of interests of groups of the territorial community in the project, the integration of positive effects at the stages of the project life cycle, the multiplier effects of the project. The structure of the positive effects of the forecast analysis of the project is systematized, the accounting of which extends and strengthens the strategic planning of development and becomes the most significant competitive advantage of the project.

Effect of Poor Workmanship and Lack of Smoothness Testing on Pavement Life-Cycle Costs

1996 ◽  
Vol 1539 (1) ◽  
pp. 102-109 ◽  
Author(s):  
Sameh M. Zaghloul
Keyword(s):  
Life Cycle ◽  
Evaluation Criteria ◽  
Life Cycles ◽  
Life Cycle Costs ◽  
Long Term Effects ◽  
International Roughness Index ◽  
Pavement Roughness ◽  
High Roughness ◽  
Roughness Control ◽  
Project Life

Pavement performance is commonly evaluated using the concept of pavement serviceability, in which pavement failure is defined by terminal serviceability instead of strict structural failure. The present serviceability index (PSI), the measure of pavement serviceability, is a function of pavement roughness, cracking, patching, and rutting. Pavement roughness is the major component of PSI and represents more than 95 percent of its value. Because roughness is such an important consideration, changes in roughness control pavement life cycles, and, therefore, construction quality, which influences roughness, influences performance and life cycle as well. A case study of a $120,000,000 project is presented. In this project, poor workmanship and lack of smoothness testing led to a considerably high initial roughness. A study was conducted to quantify the long-term effects of the high initial roughness. Results of this study indicate that the pavement service life of the project will be reduced significantly. In addition, a huge increase in the project life-cycle costs is expected. In another study, consideration was given to some of the available smoothness evaluation criteria in which roughness indices, such as the international roughness index and PSI, are used. Results of the study showed that most of these criteria are not capable of adequately addressing the high roughness associated with repeated transverse pumps. Recommendations for overcoming this inadequacy are presented.

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