A Whole Process Cost Prediction System for Construction Projects Based on Improved Support Vector Machines

The current project cost system requires high data scale, small amount of data and large prediction deviation. In order to improve the prediction accuracy of the whole process cost of construction project, this paper designs a whole process project cost prediction system based on improved support vector machine. In the hardware part of the system, the control core adopts arm controller S3C6410 and introduces 4G communication module to analyze the actual engineering data with the support of hardware. In the software part, the whole process cost prediction index system of the construction project is established, the index is reduced by the principal component method, and the support vector machine is improved by particle swarm optimization algorithm to realize the whole process cost prediction of the project. The system function test results show that the average prediction deviation of the designed system is 4.11%, the average prediction deviation of the cost prediction system is 3.05%, and the average prediction deviation of the system is 1.57%.

BIM Engineering Cost Budgeting Method based on Social Network Analysis Method

Engineering cost budgeting is crucial to the healthy development of the engineering and construction industry. To solve the problem of large deviations in budget results from using traditional methods of cost budgeting based on evaluation results or drawing conversions, the BIM engineering cost budgeting method based on social network analysis method is studied in this paper. On the basis of analyzing cost budgeting requirements and determining modeling economic criteria, the social network analysis method is used to analyze the project cost risks. According to the project quantity list, professional BIM software is used to budget the project cost. Case verification proves the feasibility of this budgeting method as the budget deviation is reduced by about 78% compared with the traditional method. The result of the paper has a more ideal practical application effect and positive significance for optimizing the traditional cost budgeting methods

Construction of Power Transmission and Transformation Project Cost Information Platform Based on Big Data Analysis

With the reform of China’s power system, power transmission and transformation project (hereinafter referred to as PTATP) are gradually developing in the direction of integration, informatization, large-scale and systematization. Therefore, the traditional project cost can no longer meet the needs of the society, which requires the project cost based on BD (hereinafter referred to as BD) technology. Through the information platform (hereinafter referred to as IPF), we can collect a lot of information, including policies and regulations database, talent and machine price information database, project cost index database, industry information database, etc., which will provide important support for project cost. Project cost informatization will solve the problems of low information sharing rate, low information value and high information cost, which will more scientifically complete the cost of PTATP. Based on BD technology, we can collect, sort out and analyze the cost information data of PTATP, which will fully explore the data value. Firstly, this paper analyzes the main algorithms needed for project cost. Finally, this paper constructs a PTATP cost IPF based on BD analysis, which will provide accurate countermeasures.

A Model for Detection and Prevention of Unbalanced Bid in the Public Work Procurement Process in India

Indian Public procurement works contribute almost 30% of the total GDP, most of the large and massively funded projects are public-funded, utilizing the tax collected from the citizens of the country. Hence, any discrepancies associated with such projects have direct implications on the taxpayers. The public procurement process, due to legal bindings and ethics is prone to various malpractices, that affect the overall performance of the system. Hence, it becomes imperative to prevent anomalies associated with the public procurement process. One of the anomalies associated with public procurement is an Unbalanced bid, a method of redistributing the project cost such that it varies from the Engineer’s Estimate. The ethics related to Unbalanced bid varies, contractors state that unbalanced bidding is moral and find its application beneficial to the project performance while clients and officials opine that an unbalanced bid is an unethical practice to jeopardize project progress and client’s money. The unbalanced bid can be of four types – Quantity Error Exploitation, Front-loaded Bid, Back loaded Bid, and Collusive bid. The research intends to propose a model to detect and prevent unbalanced bids respecting the constraints of the public procurement process in India, enhancing project performance, and protecting tax payer’s money.

The Precise Estimation of Development Project Cost and its Life Cycle

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.