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Aniekwu, A N (1995) The business environment of the construction industry in Nigeria. Construction Management and Economics, 13(06), 445-55.

Chan, A P C and Yeong, C M (1995) A comparison of strategies for reducing variations. Construction Management and Economics, 13(06), 467-73.

Edwards, P J and Edwards, M (1995) A price-rationalized approach to item separation in the measurement of concrete work. Construction Management and Economics, 13(06), 485-91.

Fitzgerald, E and Akintoye, A (1995) The accuracy and optimal linear correction of UK construction tender price index forecasts. Construction Management and Economics, 13(06), 493-500.

  • Type: Journal Article
  • Keywords: forecasting accuracy; optimal linear correction; price; tender price index
  • ISBN/ISSN: 0144-6193
  • URL: https://doi.org/10.1080/01446199500000057
  • Abstract:

    This paper uses a number of quantitative methods to assess the accuracy of the UK construction tender price index forecast (TPI) produced by experts for the Building Cost Information Service (BCIS) from 1980 to 1992. The text of comparative predictive accuracy shows that the BCIS forecast is less accurate than forecasts based upon a simple (naive) model which is widely regarded as the benchmark of satisfactory predictive performance. The study shows that the BCIS forecast contains systematic error which can be reduced with the use of optimal linear correction. The paper, apart from assessing the forecasting error of construction price movement, is normative in nature, producing aids for assessing forecast accuracy of the construction industry time series data.

Mustapha, F, Al-Abed, A and Wild, S (1995) A model for assessing the effectiveness of public housing in Sana'a (Republic of Yemen). Construction Management and Economics, 13(06), 457-65.

Navon, R (1995) Resource-based model for automatic cash-flow forecasting. Construction Management and Economics, 13(06), 501-10.

Seymour, D E and Rooke, J D (1995) The culture of the industry and the culture of research. Construction Management and Economics, 13(06), 511-23.

Worrall, H, Norman, G and Flanagan, R (1995) Intervention analysis and overseas trade in UK construction-related materials and components. Construction Management and Economics, 13(06), 475-84.