| Title |
Development of the Construction Cost Prediction Model Based on Case-Based Reasoning in the Planning Phase of Mega-Project |
| Authors |
Hyun Chang-Taek ; Hong Tae-Hoon ; Son Myung-Jin ; Kim Yun-Sik ; Jang Dong-Won |
| Keywords |
Cost ; Cost Data Base ; Case-Based Reasoning ; Mega Project ; Mixed Used Development |
| Abstract |
Unlike the normal project-leveled construction projects, MXD(Mixed Used Development) projects considering the stakeholder, cost, and duration, require the higher level of strategy and skill for successful completion of the project. MXD projects found to have a couple of problems, such as the complicated relationship of stakeholder, unclear business field between the public and private sectors, unestablished project process, insufficient experience and human resources, and the solutions for them, such as a supporting tool, are urgently required. In case of mega projects with a large scale of project cost and duration, more accurate project feasibility should be studied so that construction cost at planning phase is predicted and either owners or developing companies could make a better decision. However, both the existing and on-going researches on predicting construction cost are focusing on normal project-leveled project, which identifies that more researches predicting the program-leveled projects' construction cost, such as MXD, should be done. Therefore, this study intended to develop a construction cost prediction model based on CBR (Case-Based Reasoning) methodology so that it could possibly support a decision-making specifically at the pre-construction phase (defined as planning phase in this study). Also, it is expected that historical construction cost could be collected and utilized much more efficiently by developing construction Cost's Breakdown Structure(CBS) and Data Base(DB) which are essentially necessary for the CBR prediction model. |