Study on the estimation system of construction project cost

Author(s): Lingzhi Zhang

With the actual cost of construction project being limited by many traditional ideas and systems, the prospect of the building industry in the market is not appreciable enough. The key to realize the long term development of this industry lies in the cost estimation of construction projects. Focusing on the analysis of the dynamic prediction model of the cost of construction projects, the paper would induct from it the patterns of these projects and dissect the significance of dynamic prediction of cost to the construction projects. The approach of this study follows a pattern as "finding the problem-analyzing the problemsolve the problem". In term of finding the problem, it focuses on the analysis of the related elements that affect the actual cost of the construction project. In analyzing the problem, it adopts BP neural network to establish the model for the cost of the project. In solving the problem, on the basis of the two former stages, it will establish the dynamic prediction model of the cost during the construction. Several factors will be taken into special consideration, such as the cost information, the program schedule and the investments, so as to help the prediction of the cost and the reasonable control of the cost.

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