Cost Modeling from the Contractor Perspective: Application to Residential and Office Buildings

For the majority of the contractual arrangements used in construction projects, the owner is not responsible for the cost deviations due to the variability of labor productivity or material price, amongst many other aspects. Consequently, the cost performance of a project may be entirely distinct fo...

Descripción completa

Guardado en:

Detalles Bibliográficos
Autores principales:	Francisco Pereira Monteiro, Vitor Sousa, Inês Meireles, Carlos Oliveira Cruz
Formato:	article
Lenguaje:	EN
Publicado:	MDPI AG 2021
Materias:	cost estimation cost deviation financial crisis promotor-contractor statistical modeling Building construction TH1-9745
Acceso en línea:	https://doaj.org/article/b611bd50c1a84bc896eb28b365d671cd
Etiquetas:	Agregar Etiqueta Sin Etiquetas, Sea el primero en etiquetar este registro!

id	oai:doaj.org-article:b611bd50c1a84bc896eb28b365d671cd
record_format	dspace
spelling	oai:doaj.org-article:b611bd50c1a84bc896eb28b365d671cd2021-11-25T16:59:53ZCost Modeling from the Contractor Perspective: Application to Residential and Office Buildings10.3390/buildings111105292075-5309https://doaj.org/article/b611bd50c1a84bc896eb28b365d671cd2021-11-01T00:00:00Zhttps://www.mdpi.com/2075-5309/11/11/529https://doaj.org/toc/2075-5309For the majority of the contractual arrangements used in construction projects, the owner is not responsible for the cost deviations due to the variability of labor productivity or material price, amongst many other aspects. Consequently, the cost performance of a project may be entirely distinct for the owner and the contractor. Since the majority of quantitative research on cost estimation and deviation found in the literature adopts the owners’ perspective, this research provides a contribution towards modeling costs and cost deviation from a contractor’s perspective. From an initial sample of 13 residential buildings and 10 office building projects, it was possible to develop models for cost estimation at the early stage of development, including both endogenous and exogenous variables. Although the sample is relatively small, the authors were able to fully analyze all the cost data, using no secondary sources of data (which is very frequent in cost modeling studies). The statistically significant variables in the cost estimation models were the areas above and below ground and the years following the 2008 financial crisis, including the international bailout (2011–2014) period. For estimating the unit cost, a nonlinear model was obtained with the number of underground and total floor, the floor ratio, and the years following the 2008 financial crisis, including the international bailout (2011–2014) period as predictors. For the office buildings, a statistically significant correlation was also found between the cost deviation and number of underground floors.Francisco Pereira MonteiroVitor SousaInês MeirelesCarlos Oliveira CruzMDPI AGarticlecost estimationcost deviationfinancial crisispromotor-contractorstatistical modelingBuilding constructionTH1-9745ENBuildings, Vol 11, Iss 529, p 529 (2021)
institution	DOAJ
collection	DOAJ
language	EN
topic	cost estimation cost deviation financial crisis promotor-contractor statistical modeling Building construction TH1-9745
spellingShingle	cost estimation cost deviation financial crisis promotor-contractor statistical modeling Building construction TH1-9745 Francisco Pereira Monteiro Vitor Sousa Inês Meireles Carlos Oliveira Cruz Cost Modeling from the Contractor Perspective: Application to Residential and Office Buildings
description	For the majority of the contractual arrangements used in construction projects, the owner is not responsible for the cost deviations due to the variability of labor productivity or material price, amongst many other aspects. Consequently, the cost performance of a project may be entirely distinct for the owner and the contractor. Since the majority of quantitative research on cost estimation and deviation found in the literature adopts the owners’ perspective, this research provides a contribution towards modeling costs and cost deviation from a contractor’s perspective. From an initial sample of 13 residential buildings and 10 office building projects, it was possible to develop models for cost estimation at the early stage of development, including both endogenous and exogenous variables. Although the sample is relatively small, the authors were able to fully analyze all the cost data, using no secondary sources of data (which is very frequent in cost modeling studies). The statistically significant variables in the cost estimation models were the areas above and below ground and the years following the 2008 financial crisis, including the international bailout (2011–2014) period. For estimating the unit cost, a nonlinear model was obtained with the number of underground and total floor, the floor ratio, and the years following the 2008 financial crisis, including the international bailout (2011–2014) period as predictors. For the office buildings, a statistically significant correlation was also found between the cost deviation and number of underground floors.
format	article
author	Francisco Pereira Monteiro Vitor Sousa Inês Meireles Carlos Oliveira Cruz
author_facet	Francisco Pereira Monteiro Vitor Sousa Inês Meireles Carlos Oliveira Cruz
author_sort	Francisco Pereira Monteiro
title	Cost Modeling from the Contractor Perspective: Application to Residential and Office Buildings
title_short	Cost Modeling from the Contractor Perspective: Application to Residential and Office Buildings
title_full	Cost Modeling from the Contractor Perspective: Application to Residential and Office Buildings
title_fullStr	Cost Modeling from the Contractor Perspective: Application to Residential and Office Buildings
title_full_unstemmed	Cost Modeling from the Contractor Perspective: Application to Residential and Office Buildings
title_sort	cost modeling from the contractor perspective: application to residential and office buildings
publisher	MDPI AG
publishDate	2021
url	https://doaj.org/article/b611bd50c1a84bc896eb28b365d671cd
work_keys_str_mv	AT franciscopereiramonteiro costmodelingfromthecontractorperspectiveapplicationtoresidentialandofficebuildings AT vitorsousa costmodelingfromthecontractorperspectiveapplicationtoresidentialandofficebuildings AT inesmeireles costmodelingfromthecontractorperspectiveapplicationtoresidentialandofficebuildings AT carlosoliveiracruz costmodelingfromthecontractorperspectiveapplicationtoresidentialandofficebuildings
_version_	1718412797885284352

Cost Modeling from the Contractor Perspective: Application to Residential and Office Buildings

Ejemplares similares