Parametric Range Estimating of Building Costs Using Regression Models and Bootstrap


Sonmez R.

JOURNAL OF CONSTRUCTION ENGINEERING AND MANAGEMENT-ASCE, cilt.134, sa.12, ss.1011-1016, 2008 (SCI İndekslerine Giren Dergi) identifier identifier

  • Yayın Türü: Makale / Tam Makale
  • Cilt numarası: 134 Konu: 12
  • Basım Tarihi: 2008
  • Doi Numarası: 10.1061/(asce)0733-9364(2008)134:12(1011)
  • Dergi Adı: JOURNAL OF CONSTRUCTION ENGINEERING AND MANAGEMENT-ASCE
  • Sayfa Sayıları: ss.1011-1016

Özet

This paper presents a bootstrap approach for integration of parametric and probabilistic cost estimation techniques. In the proposed method, a combination of regression analysis and bootstrap resampling technique is used to develop range estimates for construction costs. The method is applied to parametric range estimation of building projects as an example. The bootstrap approach includes advantages of probabilistic and parametric estimation methods, at the same time it requires fewer assumptions compared to classical statistical techniques. This study is of relevance to practitioners and researchers, as it provides a robust method for conceptual estimation of construction costs.