Call For Paper Volume:4 Issue:10 Oct'2017 |

Prediction of time and cost contingency in construction projects

Publication Date : 18/04/2016



Author(s) :

D.Yogashree , T.Pradeep.


Volume/Issue :
Volume 3
,
Issue 4
(04 - 2016)



Abstract :

Construction delays and cost overrun in building projects are caused by various personnel's like owner, contractor, or a third party in which several types of overruns may occur concurrently. Even though construction project scheduling and estimating has received extensive attention of researchers, time and cost contingency was not treated well in the literature. In order to meet the deadline of a project, scheduling and budget estimating should be flexible enough to accommodate changes without destructively affecting the overall project cost and duration. As such, this report aims to identify, study and review the effect of the factors that affect time and cost contingency. This report presents methodology of the project. The factors that influencing cost and duration of construction projects are identified from literature survey and from the experienced persons involved in construction industry. Based on the factors identified, Questionnaire is framed and distributed to various companies and professionals. Respondent of questionnaire survey are Owner/ Quantity surveyor/ Project manager/ Planning engineer/ Contractor/ Assistant engineer. SPSS software is used for statistical analysis of the collected data to find out the top most factors that have large impact on construction suggesting the use of contingency in construction projects. The top 7 factors are used as system attributes for neural network modeling. The data have been trained and tested and finally model verification was done to predict the contingency values.


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Prediction of time and cost contingency in construction projects

April 13, 2016