ARCOM

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de Valence, G and Runeson, G (2011) On the state of the building industry after the GFC and the Euro crisis. Construction Economics and Building, 11(04), 102-113.

Fereidouni, H G (2011) Factors contributing to the fluctuations in residential construction in Iran. Construction Economics and Building, 11(04), 77-86.

Lowe, D and Skitmore, M (2011) The learning climate of chartered quantity surveying practices. Construction Economics and Building, 11(04), 1-20.

Type: Journal Article
Keywords: Cost estimating; regression; road construction; early estimate
ISBN/ISSN: 1837-9133
URL: https://doi.org/10.5130/AJCEB.v11i4.2195
Abstract:
The objective of this study is to develop early cost estimating models for road construction projects using multiple regression techniques, based on 131 sets of data collected in the West Bank in Palestine. As the cost estimates are required at early stages of a project, considerations were given to the fact that the input data for the required regression model could be easily extracted from sketches or scope definition of the project. 11 regression models are developed to estimate the total cost of road construction project in US dollar; 5 of them include bid quantities as input variables and 6 include road length and road width. The coefficient of determination r2 for the developed models is ranging from 0.92 to 0.98 which indicate that the predicted values from a forecast models fit with the real-life data. The values of the mean absolute percentage error (MAPE) of the developed regression models are ranging from 13% to 31%, the results compare favorablywith past researches which have shown that the estimate accuracy in the early stages of a project is between ±25% and ±50%.

Oluwatayo, A and Amole, D (2011) Architectural firms: workforce, business strategy and performance. Construction Economics and Building, 11(04), 21-44.