The report is concerned with the techniques of estimating
the cost of building projects during the design period.
The emphasis is on work which has taken place outside
Scandinavia; mostly in the U.K. and the USA.
Set against a background of increasing sophistication in
computer aided design generally, this report focusses on
the cost models that in the future will form one
component of computer-aided design (CAD) systems.
Existing work in the field is organised in a systematic
way in order to meet the following objectives: 1) To
identify and describe the most common techniques used in
research circles but not yet in practice. 3) To asses the
impact of computerization on methods of appraising the
cost of construction projects.
Recent developments in research and practice are
reviewed. Elemental cost planning, in common use
throughout Europe in one form or another, is described
with particular reference to practice in the U.K. Other
cost models are reviewed in four groups. These are
statistical methods, simulation methods, life-cycle
methods and probabilistic methods. The most exciting
future potential seems to rest with the use of
simulation, life cycle and probabilistic methods.
Simulation methods can (depending on the available data)
be highly accurate. In computerised form they offer
designers the opportunity to carry out rapid, accurate
cost appraisals of developing schemes. Life cycle costing
techniques are well known, but not frequently used.
Reasons for this are identified in the report.
Computerised probabilistic techniques are helpful in
constructing more realistic models of an estimator's
perception of future costs.
|Place of Publication||Espoo|
|Publisher||VTT Technical Research Centre of Finland|
|Number of pages||56|
|Publication status||Published - 1985|
|MoE publication type||D4 Published development or research report or study|
|Series||Valtion teknillinen tutkimuskeskus. Tiedotteita|
- building cost
- planning process
- statistical methods