| Title |
Time Series Analysis and Development of Statistical Forecasting Model for Building Construction Cost Index |
| Keywords |
Building Construction Cost Index ; time series analysis ; statistical forecasting model ; ARIMA ; intervention model |
| Abstract |
To improve the usage of Building Construction Cost Index(CONDEX), it is necessary to conduct time series analysis and develop CONDEX forecasting model. It can be very helpful in preparing appropriate management responding to price variations and procurement of required resources for the effective construction project implementation.
In this research we've studied time series analysis and developed short term forecasting model using ARIMA and intervention method. By using the optimum statistical forecasting model selected as the above mentioned methodology, we could find out very effective outcomes that have put these figures on that standard error is 0.55 |