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Modeling Projects' Scopes for Conceptual Cost Estimating.

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Title: Modeling Projects' Scopes for Conceptual Cost Estimating.
Authors: Serpell, Alfredo F.1 aserpell@ing.puc.cl
Source: AACE International Transactions. 2010, pEST.14.1-EST.14.13. 13p. 5 Charts, 3 Graphs.
Subjects: Construction projects, Construction contracts, Construction costs, Industrial design, Engineering design, Cost estimates, Cost accounting, Activity-based costing, Industrial costs, Cost control, Finance
Abstract: The availability of a comprehensive and reliable definition of the scope of a project in its early planning stages is widely recognized by practitioners as a key factor for conceptual cost estimating. In this paper, a project scope modeling methodology based on the effective reutilization of historical projects' scopes and on the application of the case-based reasoning approach (CBR) is proposed. This methodology helps to develop a new project's scope by finding and reusing the most relevant information from historical scopes. The validation of the proposed methodology was carried out through its use in estimating the cost of 17 real construction projects, already constructed, and whose final costs were known. This application of the methodology produced a sufficiently detailed and accurate cost estimate for each project. Also, the scope generated by the methodology allows the estimation of the cost of a new project with an acceptable level of accuracy, and provides a reasonable work breakdown structure that can be used for different planning purposes. [ABSTRACT FROM AUTHOR]
Copyright of AACE International Transactions is the property of AACE International and its content may not be copied or emailed to multiple sites without the copyright holder's express written permission. Additionally, content may not be used with any artificial intelligence tools or machine learning technologies. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)
Database: Engineering Source
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DbLabel: Engineering Source
An: 52475960
AccessLevel: 6
PubType: Academic Journal
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  Data: Modeling Projects' Scopes for Conceptual Cost Estimating.
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  Data: <searchLink fieldCode="AR" term="%22Serpell%2C+Alfredo+F%2E%22">Serpell, Alfredo F.</searchLink><relatesTo>1</relatesTo><i> aserpell@ing.puc.cl</i>
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  Data: <searchLink fieldCode="JN" term="%22AACE+International+Transactions%22">AACE International Transactions</searchLink>. 2010, pEST.14.1-EST.14.13. 13p. 5 Charts, 3 Graphs.
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  Data: <searchLink fieldCode="DE" term="%22Construction+projects%22">Construction projects</searchLink><br /><searchLink fieldCode="DE" term="%22Construction+contracts%22">Construction contracts</searchLink><br /><searchLink fieldCode="DE" term="%22Construction+costs%22">Construction costs</searchLink><br /><searchLink fieldCode="DE" term="%22Industrial+design%22">Industrial design</searchLink><br /><searchLink fieldCode="DE" term="%22Engineering+design%22">Engineering design</searchLink><br /><searchLink fieldCode="DE" term="%22Cost+estimates%22">Cost estimates</searchLink><br /><searchLink fieldCode="DE" term="%22Cost+accounting%22">Cost accounting</searchLink><br /><searchLink fieldCode="DE" term="%22Activity-based+costing%22">Activity-based costing</searchLink><br /><searchLink fieldCode="DE" term="%22Industrial+costs%22">Industrial costs</searchLink><br /><searchLink fieldCode="DE" term="%22Cost+control%22">Cost control</searchLink><br /><searchLink fieldCode="DE" term="%22Finance%22">Finance</searchLink>
– Name: Abstract
  Label: Abstract
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  Data: The availability of a comprehensive and reliable definition of the scope of a project in its early planning stages is widely recognized by practitioners as a key factor for conceptual cost estimating. In this paper, a project scope modeling methodology based on the effective reutilization of historical projects' scopes and on the application of the case-based reasoning approach (CBR) is proposed. This methodology helps to develop a new project's scope by finding and reusing the most relevant information from historical scopes. The validation of the proposed methodology was carried out through its use in estimating the cost of 17 real construction projects, already constructed, and whose final costs were known. This application of the methodology produced a sufficiently detailed and accurate cost estimate for each project. Also, the scope generated by the methodology allows the estimation of the cost of a new project with an acceptable level of accuracy, and provides a reasonable work breakdown structure that can be used for different planning purposes. [ABSTRACT FROM AUTHOR]
– Name: AbstractSuppliedCopyright
  Label:
  Group: Ab
  Data: <i>Copyright of AACE International Transactions is the property of AACE International and its content may not be copied or emailed to multiple sites without the copyright holder's express written permission. Additionally, content may not be used with any artificial intelligence tools or machine learning technologies. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract.</i> (Copyright applies to all Abstracts.)
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RecordInfo BibRecord:
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    Languages:
      – Code: eng
        Text: English
    PhysicalDescription:
      Pagination:
        PageCount: 13
        StartPage: EST.14.1
    Subjects:
      – SubjectFull: Construction projects
        Type: general
      – SubjectFull: Construction contracts
        Type: general
      – SubjectFull: Construction costs
        Type: general
      – SubjectFull: Industrial design
        Type: general
      – SubjectFull: Engineering design
        Type: general
      – SubjectFull: Cost estimates
        Type: general
      – SubjectFull: Cost accounting
        Type: general
      – SubjectFull: Activity-based costing
        Type: general
      – SubjectFull: Industrial costs
        Type: general
      – SubjectFull: Cost control
        Type: general
      – SubjectFull: Finance
        Type: general
    Titles:
      – TitleFull: Modeling Projects' Scopes for Conceptual Cost Estimating.
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            NameFull: Serpell, Alfredo F.
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          Dates:
            – D: 01
              M: 06
              Text: 2010
              Type: published
              Y: 2010
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              Value: 15287106
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