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Modelling levels of accuracy in design cost estimation

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conference contribution
posted on 16.12.2015 by David J. Blackwood, S. Sarkar, Andrew Price
The use of fee competition by construction industry clients has increased the need for design consultants to predict more accurately the cost of their professional services. There is evidence of concern among clients that fee reductions resulting from fee competition have been accompanied in many cases by a reduction in the level of services provided by consultants. However, there is little published work on design cost estimation methods and their accuracy. This paper describes a recently completed programme of research in design cost estimation practice in the United Kingdom. An overview of design cost estimation practice is presented and the development and operation of a model which simulates the design cost estimation process is described. The paper explains and presents the results of a data collection strategy that was adopted to provide input for the model and conclusions are drawn on the validity of the model when compared to the indicative levels of accuracy in design cost estimation suggested in the literature. Finally, recommendations are given for future research work that should lead to a usable cost estimation tool for design consultants.

History

School

  • Architecture, Building and Civil Engineering

Published in

Association of Researchers in Construction, 14th Annual Conference

Citation

BLACKWOOD, D.J., SARKAR, S., PRICE, A.D.F., 1998. Modelling levels of accuracy in design cost estimation. IN: Hughes, W. (ed.), Proceedings 14th Annual ARCOM Conference, 9-11 September 1998, Reading, UK. Association of Researchers in Construction Management, Vol. 1, pp.330–339.

Publisher

© ARCOM / © the authors

Version

VoR (Version of Record)

Publisher statement

This work is made available according to the conditions of the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International (CC BY-NC-ND 4.0) licence. Full details of this licence are available at: https://creativecommons.org/licenses/by-nc-nd/4.0/

Publication date

1998

ISBN

0953416100

Language

en

Location

University of Reading

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