An Approach to Data Driven Process Discovery in the Cost Estimation Process of a Construction Company

2021 ◽  
Author(s):  
Tobias Kropp ◽  
Alexander Bombeck ◽  
Kunibert Lennerts
Keyword(s):  
Cost Estimation ◽  
Data Driven ◽  
Process Discovery ◽  
Estimation Process ◽  
Construction Company ◽  
The Cost

scholarly journals Index Cost Estimation Using Case Based Reasoning Model Based on Macro BIM

2018 ◽  
Author(s):  
Krzysztof Zima ◽  
Agnieszka Leśniak
Keyword(s):  
Correlation Coefficient ◽  
Cost Estimation ◽  
Pearson Correlation ◽  
Construction Project ◽  
Information Modeling ◽  
Unit Price ◽  
Case Based Reasoning ◽  
Estimation Process ◽  
The Cost ◽  
Case Based

Information regarding the cost of a construction project is available to the investor and project participants in order to determine the subsequent success of a project, given that the information they collect has an impact on the decisions they make. Cost calculations, especially in the initial phase of a project, often generate large errors. This paper presents the new approach based on a combination of the Case Based Reasoning method (CBR) with the originally selected criteria for the description of a construction project (as a result of Pearson correlation coefficient and Spearman's rank correlation coefficient) and Building Information Modeling (BIM) technology. The CBR method fulfils expectations for a simple and fast system supporting the cost estimation process. It does not require any specialist knowledge, so it will be comprehensible to cost estimation practitioners. The BIM-based model gives the opportunity for the calculation of quantity take-offs and enables the use of the information contained in the BIM model in the cost estimation process. In order to prepare the model an appropriate relational database had to be developed. With extensive research, a database of 173 construction projects, including the construction of a sports field, was obtained. There were 14 variables defined originally by authors; however, only 10 (as a result of the correlation analysis) were used for the calculation. Data related to the project were collected in the BIM model. Results estimating the project’s unit price, using the CBR method, were presented and discussed. The Mean Absolute Estimate Error was used to evaluate the model.

Weight-Estimation Method of FPSO Topsides Considering the Work Breakdown Structure

2017 ◽  
Vol 140 (1) ◽  
Author(s):  
Ki-Su Kim ◽  
Myung-Il Roh ◽  
Sung-Min Lee ◽  
Han-Sung Kim ◽  
Hyunsik Ahn
Keyword(s):  
Cost Estimation ◽  
Estimation Method ◽  
Field Work ◽  
Economic Downturn ◽  
Complex Structures ◽  
Weight Estimation ◽  
Top Down ◽  
Work Breakdown Structure ◽  
Estimation Process ◽  
The Cost

With the recent international economic downturn, most engineering, procurement, and construction (EPC) contractors are incurring deficits in their floating, production, storage, and offloading unit (FPSO) projects. Numerous reasons underpin these situations. One of the most important reasons is the cost-estimation failure. The cost estimation is the key contractual point and mainly depends on a weight estimation of the FPSO topsides. Because the topsides contain a lot of equipment and complex structures, it is very difficult to make an estimation at the contractual stage. To overcome this problem, many methods have been proposed to estimate the weight of offshore topsides; however, most of the methods involve the top–down approach, making it difficult to obtain a sufficiently accurate prediction for field-work usage in terms of the weight estimation. Therefore, a work breakdown structure (WBS) for the performance of the weight-estimation process is proposed in this study. Using the WBS of the FPSO topsides, the corresponding presentation of the weight-estimation process makes the process usable in the field work regarding the WBS-item estimations. Accordingly, estimates of the detailed units (disciplines, modules, and areas) inside the topside that were previously not possible were performed. In addition, a prototype program was developed using the proposed method, and the applicability of the proposed method was evaluated through the application of three projects.

scholarly journals COST ESTIMATION PRACTICES PREVALENT IN CONSTRUCTION PROJECTS IN OMAN

2019 ◽  
Vol 16 (2) ◽  
pp. 115
Author(s):  
Khalid Alzebdeh ◽  
M. Al-Siyabi ◽  
Ali Al-Nuaimi ◽  
Mohammad Khadem
Keyword(s):  
Risk Factors ◽  
Construction Industry ◽  
Cost Estimation ◽  
Construction Projects ◽  
Historical Data ◽  
Response Rate ◽  
Medium Size ◽  
Estimation Process ◽  
Rate Method ◽  
The Cost

This paper reports findings of a study that captures cost estimation practices and techniques prevalent in the construction industry in Oman.  It also identifies the success and risk factors that are encountered in the cost estimation process. Eighty structured questionnaires were distributed to some professionals working in construction projects, selected randomly from large and medium size enterprises across the Sultanate. A response rate of 56% was achieved. The results showed that the unit rate method, the use of historical data and benchmarking are the most common methods used for cost estimation. Success and risk factors as reported by respondents were analyzed and ranked accordingly. The main sources of risk were reported by respondents as “Unclear reading and understanding of specifications”, “Lack of clear documents of the project scope of work”, and “Unavailability of Resources”. This study provides an insight understanding of revealed practices and techniques and globally share the findings with researchers and professionals.

scholarly journals Cost Estimation of Structural Components of a Building by considering the Seismic Load on Different Regions

2019 ◽  
Vol 2019 ◽  
pp. 1-8
Author(s):  
Mubarak Mubarak ◽  
Abdullah Abdullah ◽  
Azmeri Azmeri ◽  
Yulia Hayati
Keyword(s):  
Cost Estimation ◽  
Seismic Load ◽  
Seismic Loads ◽  
Structural Components ◽  
Potential Cost ◽  
Estimation Process ◽  
Importance Factor ◽  
The Cost ◽  
Building Occupancy ◽  
Story Building

Seismic loads should be considered in the cost estimation process as a consequence of changes in structural dimensions. Seismic loads received by buildings vary from one region to another, which are used as a basis for dimensioning structural components. This paper aims to investigate the potential cost changes of the reinforced concrete (RC) beam and column elements as an implication of variations in seismic load received by a building constructed in different seismic areas. This study was applied to a prototype of the two-story building. The structure analysis performed with dynamic analysis by varying seismic design categories based on eight seismic zones in the observed area. The utilization of a building prototype was applied to three indices of seismic importance factor to represent the building occupancy category. The results of the study explaining the increase in the total cost of the two RC elements are 0.68%, 1.70%, and 1.54%, respectively, for the seismic importance factor indices of 1.00, 1.25, and 1.50. The variations of the costs due to the factor of seismic load and building occupancy categories indicate that both factors need to be considered in the cost estimation process of buildings.

scholarly journals Black Hole Algorithm for Sustainable Design of Counterfort Retaining Walls

2020 ◽  
Vol 12 (7) ◽  
pp. 2767 ◽  
Author(s):  
Víctor Yepes ◽  
José V. Martí ◽  
José García
Keyword(s):  
Black Hole ◽  
Sustainable Design ◽  
Retaining Walls ◽  
The Other ◽  
Trade Off ◽  
Construction Company ◽  
Geometric Variables ◽  
The Stability ◽  
The Cost ◽  
Black Hole Algorithm

The optimization of the cost and CO 2 emissions in earth-retaining walls is of relevance, since these structures are often used in civil engineering. The optimization of costs is essential for the competitiveness of the construction company, and the optimization of emissions is relevant in the environmental impact of construction. To address the optimization, black hole metaheuristics were used, along with a discretization mechanism based on min–max normalization. The stability of the algorithm was evaluated with respect to the solutions obtained; the steel and concrete values obtained in both optimizations were analyzed. Additionally, the geometric variables of the structure were compared. Finally, the results obtained were compared with another algorithm that solved the problem. The results show that there is a trade-off between the use of steel and concrete. The solutions that minimize CO 2 emissions prefer the use of concrete instead of those that optimize the cost. On the other hand, when comparing the geometric variables, it is seen that most remain similar in both optimizations except for the distance between buttresses. When comparing with another algorithm, the results show a good performance in optimization using the black hole algorithm.

scholarly journals Methodology for the Concept Design of Locally Reinforced Composites

2021 ◽  
Vol 11 (16) ◽  
pp. 7246
Author(s):  
Julius Moritz Berges ◽  
Georg Jacobs ◽  
Sebastian Stein ◽  
Jonathan Sprehe
Keyword(s):  
Cost Estimation ◽  
Structural Design ◽  
Early Stage ◽  
Parameter Study ◽  
Great Effort ◽  
Concept Design ◽  
Cost Weight ◽  
Reinforced Plastics ◽  
Fiber Reinforced Plastics ◽  
The Cost

Locally load-optimized fiber-based composites, the so-called tailored textiles (TT), offer the potential to reduce weight and cost compared to conventional fiber-reinforced plastics (FRP). However, the design of TT has a higher complexity compared to FRP. Current approaches, focusing on solving this complexity for multiple objectives (cost, weight, stiffness), require great effort and calculation time, which makes them unsuitable for serial applications. Therefore, in this paper, an approach for the efficient creation of simplified TT concept designs is presented. By combining simplified models for structural design and cost estimation, the most promising concepts, regarding the cost, weight, and stiffness of TT parts, can be identified. By performing a parameter study, the cost, weight, and stiffness optima of a sample part compared to a conventional FRP component can be determined. The cost and weight were reduced by 30% for the same stiffness. Applying this approach at an early stage of product development reduces the initial complexity of the subsequent detailed engineering design, e.g., by applying methods from the state of the art.

Keynote

2021 ◽  
Vol 48 (4) ◽  
pp. 3-3
Author(s):  
Ingo Weber
Keyword(s):  
Cost Estimation ◽  
Estimation Method ◽  
Main Topic ◽  
System Throughput ◽  
Distributed Ledger ◽  
Smart Contract ◽  
Distributed Ledger Technology ◽  
Wide Range ◽  
The Cost ◽  
Application Developers

Blockchain is a novel distributed ledger technology. Through its features and smart contract capabilities, a wide range of application areas opened up for blockchain-based innovation [5]. In order to analyse how concrete blockchain systems as well as blockchain applications are used, data must be extracted from these systems. Due to various complexities inherent in blockchain, the question how to interpret such data is non-trivial. Such interpretation should often be shared among parties, e.g., if they collaborate via a blockchain. To this end, we devised an approach codify the interpretation of blockchain data, to extract data from blockchains accordingly, and to output it in suitable formats [1, 2]. This work will be the main topic of the keynote. In addition, application developers and users of blockchain applications may want to estimate the cost of using or operating a blockchain application. In the keynote, I will also discuss our cost estimation method [3, 4]. This method was designed for the Ethereum blockchain platform, where cost also relates to transaction complexity, and therefore also to system throughput.

scholarly journals Machine learning applied to simulations of collisions between rotating, differentiated planets

2020 ◽  
Vol 7 (1) ◽  
Author(s):  
Miles L. Timpe ◽  
Maria Han Veiga ◽  
Mischa Knabenhans ◽  
Joachim Stadel ◽  
Stefano Marelli
Keyword(s):  
Machine Learning ◽  
Planet Formation ◽  
Critical Role ◽  
Ensemble Methods ◽  
Terrestrial Planet ◽  
Data Driven ◽  
Analytic Methods ◽  
Accurate Treatment ◽  
Post Impact ◽  
The Cost

AbstractIn the late stages of terrestrial planet formation, pairwise collisions between planetary-sized bodies act as the fundamental agent of planet growth. These collisions can lead to either growth or disruption of the bodies involved and are largely responsible for shaping the final characteristics of the planets. Despite their critical role in planet formation, an accurate treatment of collisions has yet to be realized. While semi-analytic methods have been proposed, they remain limited to a narrow set of post-impact properties and have only achieved relatively low accuracies. However, the rise of machine learning and access to increased computing power have enabled novel data-driven approaches. In this work, we show that data-driven emulation techniques are capable of classifying and predicting the outcome of collisions with high accuracy and are generalizable to any quantifiable post-impact quantity. In particular, we focus on the dataset requirements, training pipeline, and classification and regression performance for four distinct data-driven techniques from machine learning (ensemble methods and neural networks) and uncertainty quantification (Gaussian processes and polynomial chaos expansion). We compare these methods to existing analytic and semi-analytic methods. Such data-driven emulators are poised to replace the methods currently used in N-body simulations, while avoiding the cost of direct simulation. This work is based on a new set of 14,856 SPH simulations of pairwise collisions between rotating, differentiated bodies at all possible mutual orientations.

The Research and Development of Mechanical Product Turning Processing Cost Estimation System

2011 ◽  
Vol 121-126 ◽  
pp. 3612-3616
Author(s):  
Wen Quan Huang ◽  
Kai Shi Li ◽  
Hai Jun Liu
Keyword(s):  
Cost Estimation ◽  
Manufacturing Cost ◽  
Cost Information ◽  
Development Environment ◽  
Improve Design ◽  
Market Competitiveness ◽  
Processing Cost ◽  
Estimation System ◽  
The Cost ◽  
Time Standard

This paper adopts the method labor time standard, in the development environment of VC++, using Access database storage costs data, and the cost results output into Excel, developed mechanical product turning processing manufacturing cost estimation system. Using this system can realize turning processing cost estimation and feedback the cost information of mechanical product turning processing, make a design personnel to understand the cost information, to improve design, reduce the cost, improve the market competitiveness of products

Approach for Effective Design and Cost Estimation of New built / Conversion FPSO (2014)

2014 ◽  
Author(s):  
Upendra Malla ◽  
Krishna M. Karri
Keyword(s):  
Cost Estimation ◽  
Structural Design ◽  
Effective Means ◽  
Step Method ◽  
Support Design ◽  
Field Development ◽  
Early Stages ◽  
The Cost ◽  
Offshore Field ◽  
Effective Design

Floating Production Storage and Offloading (FPSO) sizing and cost estimation has become a challenging task at the early stages of offshore field development. During the early stages of field development designer needs to size and estimate cost in order to decide feasibility of the project. This paper describes a step by step method used to size and estimate the cost of a new built (or) converted FPSO based on basic engineering, existing FPSO data and corresponding metocean criteria for a particular location. This step by step approach covers FPSO sizing, hull structural design, mooring sizing, topsides support design and steel renewal using offshore classification rules and regulations. FPSO cost is estimated based on the design particulars (i.e. hull weights, FPSO particulars, mooring sizes etc.) and current market unit rates. This approach is an effective means to size and estimate cost of an FPSO at early stages of field development which saves overall time and cost for a client.

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