Analysis on Influencing Factors and Countermeasures of Housing Construction Cost

2021 ◽  
2020 ◽  
Vol 2020 ◽  
pp. 1-16
Author(s):  
Lanjun Liu ◽  
Denghui Liu ◽  
Han Wu ◽  
Junwu Wang

To accurately predict the construction costs of foundation pit projects, a model based on the stacked denoising autoencoder (SDAE) is constructed in this work. The influencing factors of foundation pit project construction costs are identified from the four attributes of construction cost management, namely, engineering, the environment, the market, and management. Combined with Chinese national standards and the practice of foundation pit project management, a method of the quantization of the influencing factors is presented. 60 deep foundation pit projects in China are selected to obtain 13 main characteristic factors affecting these project construction cost by using the rough set. Then, considering the advantages of the SDAE in dealing with complex nonlinear problems, a prediction model of foundation pit project construction costs is created. Finally, this paper employs these 60 projects for a case analysis. The case study demonstrates that, compared with the actual construction costs, the calculation error of the proposed method is less than 3%, and the average error is only 1.54%. In addition, three error analysis tools commonly used in machine learning (the determination coefficient, root mean square error, and mean absolute error) emphasize that the calculation accuracy of the proposed method is notably higher than those of other methods (Chinese national code, the multivariate return method, the BP algorithm, the BP model optimized by the genetic algorithm, the support vector machine, and the RBF model). The relevant research results of this paper provide a useful reference for the prediction of the construction costs of foundation pit projects.


2011 ◽  
Vol 368-373 ◽  
pp. 2369-2375
Author(s):  
Li Fang ◽  
Xin Ma

At present, the main methods of analyzing the reasons why construction cost always got out of control are qualitative analysis based on the practical construction experiences in the construction cost management. And these analyses were easily affected by subjective factors. By introducing a complete decomposition model, the influencing factors of the incontrollable construction cost in the construction stage can be decomposed to the effect of quantity changes and the effect of unit price changes of each kind of construction. A quantitative analysis will be carried on subsequently to analyzing these effects to find the main effects of the whole construction cost changes. This model made the analysis more objective and scientific, and can accumulate the data for new or planned similar constructions. To illustrate, the decomposition on construction cost changes of a small civil project is carried out.


2020 ◽  
Vol 1 (4) ◽  
pp. 179-184
Author(s):  
Hendra Dwi Prasetyo ◽  
Kusuma Adi Rahardjo ◽  
Iman Supriadi ◽  
Nindya Kartika Kusmayati ◽  
Moh Wahib

Activity based costing (ABC) is an improved system of the traditional one. This system is calculating costs that provide accuracy and relevance in allocating overhead costs. This system has an overall cost tracking compared to traditional systems. This research uses a descriptive method of case study approach, which can describe the existence of a variable, symptom or condition. Using this method adjusts the ability to answer the problem under study and hopes to be able to provide clear results and answers. The results of the calculation of housing construction cost using the ABC system on housing in Sidoarjo are able to describe results more accurately and do not cause distortion of costs.


2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Augustina Chiwuzie ◽  
Daniel Ibrahim Dabara

PurposeCost of construction of residential properties as well as its subsequent rent trends remain a major challenge to stakeholders in the property rental markets of emerging economies. This study examined the relationship between housing construction costs and house rents fluctuations in Osogbo, Nigeria, to provide information for informed investment decisions.Design/methodology/approachThe authors conducted a survey, where three sets of questionnaires were administered on building contractors; estate surveyors and valuers and private residential property owners. The data required comprise the estimated average construction costs and average market rents for two and three-bedroom bungalows in the study area from 2008 to 2018. These data were respectively sourced from all the 15 firms of building contractors and 25 firms of estate surveyors and valuers in Osogbo, Nigeria. Stratified random sampling was employed to select 180 property owners from three medium-density residential districts of Osogbo. Secondary data on macroeconomic variables were sourced from the Central Bank of Nigeria. Data collected were analysed using descriptive and inferential statistical tools.FindingsThe authors found a significant positive relationship (0.749) between construction costs and house rents trends; both variables maintained ascending trends. Construction costs and house rents inflation rates exhibited random fluctuations with the former having a higher mean inflation rate (10.47%). However, the difference was not statistically significant (p-value = 0.317 > 0.05). Respondents identified consumer price index (CPI) inflation among other macroeconomic variables as the strongest predictor of both construction costs and house rents fluctuations. However, evidence from further analysis of the time series suggested otherwise.Practical implicationsThe result confirms construction cost as one of the vital supply factors of the housing market, which is often pass through to house rents. The positive relationship between construction costs and house rents trends should trigger new development which, will, in turn, allow rental housing investments to expand into new areas with prospects for profits that could be earned by domestic and foreign investors.Originality/valueThis study to the best knowledge of the researchers is the first to relate housing construction cost to house rent in Osogbo, Nigeria; thereby adding to the body of knowledge in this field.


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