A decision support system specification for out-turn cost and cost escalation in the heavy engineering industry

Hdl Handle:
http://hdl.handle.net/10149/98177
Title:
A decision support system specification for out-turn cost and cost escalation in the heavy engineering industry
Authors:
Dawood, N. N. (Nashwan); Bates, W. (William)
Affiliation:
University of Teesside. School of Science and Technology.
Citation:
Dawood, N. N. and Bates, W. (2000) 'A decision support system specification for out-turn cost and cost escalation in the heavy engineering industry', Engineering Construction and Architectural Management, 7 (4), pp.330-346.
Publisher:
Emerald
Journal:
Engineering Construction and Architectural Management
Issue Date:
Dec-2000
URI:
http://hdl.handle.net/10149/98177
DOI:
10.1108/eb021157
Abstract:
The heavy civil engineering industry (railways, sewage treatment, chemical and pharmaceutical facilities, oil and gas facilities, etc.) is one of the major contributors to the British economy and generally involves a high level of investment. Clients in this industry are demanding accurate cost estimate, proper analysis of out-turn cost and cost escalation and a high quality risk analysis throughout the construction processes. Current practice in the industry has suggested that there is a lack of structured methodologies and systematic cost escalation approach to achieve an appropriate cost analysis at the outset of projects and throughout the construction processes. In this context the prime objective of this research work is to develop a structured cost escalation methodology for improving estimating management and control in the heavy engineering industry construction processes. The methodology is composed of a forecasting model to predict cost indices of major items in industry and a risk knowledge base model for identifying and quantifying causes of cost escalations. This paper, as part of the research, reviews and discusses a knowledge-based model for applying a cost escalation factor. The cost escalation factor is made up of market variation, a risk element and a component for bias. A knowledge elicitation strategy was employed to obtain the required knowledge for the model. The strategy included questionnaires, interviews and workshops and deliverables came in the form of influences and their effect on project cost escalation. From these deliverables, the concepts of a decision support model and system specification for applying cost escalation to base estimates is proposed.
Type:
Article
Language:
en
Keywords:
decision support; knowledge; out-turn cost; civil enineering industry
ISSN:
0969-9988
Rights:
Author can archive post-print (ie final draft post-refereeing). For full details see http://www.sherpa.ac.uk/romeo/ [Accessed 07/05/2010]
Citation Count:
0 [Web of Science and Scopus, 07/05/2010]

Full metadata record

DC FieldValue Language
dc.contributor.authorDawood, N. N. (Nashwan)en
dc.contributor.authorBates, W. (William)en
dc.date.accessioned2010-05-07T12:02:40Z-
dc.date.available2010-05-07T12:02:40Z-
dc.date.issued2000-12-
dc.identifier.citationEngineering Construction and Architectural Management; 7(4):330-346en
dc.identifier.issn0969-9988-
dc.identifier.doi10.1108/eb021157-
dc.identifier.urihttp://hdl.handle.net/10149/98177-
dc.description.abstractThe heavy civil engineering industry (railways, sewage treatment, chemical and pharmaceutical facilities, oil and gas facilities, etc.) is one of the major contributors to the British economy and generally involves a high level of investment. Clients in this industry are demanding accurate cost estimate, proper analysis of out-turn cost and cost escalation and a high quality risk analysis throughout the construction processes. Current practice in the industry has suggested that there is a lack of structured methodologies and systematic cost escalation approach to achieve an appropriate cost analysis at the outset of projects and throughout the construction processes. In this context the prime objective of this research work is to develop a structured cost escalation methodology for improving estimating management and control in the heavy engineering industry construction processes. The methodology is composed of a forecasting model to predict cost indices of major items in industry and a risk knowledge base model for identifying and quantifying causes of cost escalations. This paper, as part of the research, reviews and discusses a knowledge-based model for applying a cost escalation factor. The cost escalation factor is made up of market variation, a risk element and a component for bias. A knowledge elicitation strategy was employed to obtain the required knowledge for the model. The strategy included questionnaires, interviews and workshops and deliverables came in the form of influences and their effect on project cost escalation. From these deliverables, the concepts of a decision support model and system specification for applying cost escalation to base estimates is proposed.en
dc.language.isoenen
dc.publisherEmeralden
dc.rightsAuthor can archive post-print (ie final draft post-refereeing). For full details see http://www.sherpa.ac.uk/romeo/ [Accessed 07/05/2010]en
dc.subjectdecision supporten
dc.subjectknowledgeen
dc.subjectout-turn costen
dc.subjectcivil enineering industryen
dc.titleA decision support system specification for out-turn cost and cost escalation in the heavy engineering industryen
dc.typeArticleen
dc.contributor.departmentUniversity of Teesside. School of Science and Technology.en
dc.identifier.journalEngineering Construction and Architectural Managementen
ref.citationcount0 [Web of Science and Scopus, 07/05/2010]en
or.citation.harvardDawood, N. N. and Bates, W. (2000) 'A decision support system specification for out-turn cost and cost escalation in the heavy engineering industry', Engineering Construction and Architectural Management, 7 (4), pp.330-346.-
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