Research of Project Construction Cost Forecast Based on the Reliability

Yan E Hao

doi:10.4028/www.scientific.net/AMR.912-914.1685

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HomeAdvanced Materials ResearchAdvanced Materials Research Vols. 912-914Research of Project Construction Cost Forecast...

Research of Project Construction Cost Forecast Based on the Reliability

Abstract:

The cost is one of the four major targets for the project management; this paper introduces the construction cost reliability as an indicator to measure the management level of project cost. Through the statistic analysis of historical data, the comparative analysis about the actual cost data and original planned cost for each unit of work in the finished project is conducted to confirm the probability distribution of cost overrun or cost saving and predict the reliability of cost, and this is applied in a real project case.

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Periodical:

Advanced Materials Research (Volumes 912-914)

Pages:

1685-1689

DOI:

https://doi.org/10.4028/www.scientific.net/AMR.912-914.1685

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Online since:

April 2014

Authors:

Yan E Hao*

Keywords:

Construction Cost, Cost Forecast, Cost Overrun (or Saving) Probability, Reliability

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* - Corresponding Author

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