KnowPrice2: intelligent cost estimation for construction projects

  • Authors:

  • Bernd Domer;Benny Raphael;Sandro Saitta

  • Affiliations:

  • Tekhne management SA, Lausanne, Switzerland;National University of Singapore, Singapore, Singapore;IMAC, Ecole Polytechnique Fédérale de Lausanne, Lausanne, Switzerland

  • Venue:
  • EG-ICE'06 Proceedings of the 13th international conference on Intelligent Computing in Engineering and Architecture
  • Year:
  • 2006

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Abstract

Correct estimation of costs of construction projects is the key to project success. Although mostly established in early project phases with a rather limited set of project data, estimates have to be precise. In this paper, a methodology for improving the quality of estimates is presented in which data from past projects along with other knowledge sources are used. Advantages of this approach as well as challenges are discussed.