Title Cost prediction model of Public Multi-housing Projects in Schematic Design Phase
Authors Kwon, Ho-Suk ; Moon, Hyun-Seok ; Lee, Sung-Kyun ; Hong, Tae-Hoon ; Koo, Kyo-Jin ; Hyun, Chang-Ta
Page pp.65-74
ISSN 1229-7534
Keywords Public Multi-Family housing ; Construction Cost ; Schematic Design Phase ; Cost prediction model
Abstract Public institutions recognize the importance of cost management from the planning stage but they do not have an organized construction cost estimation and management system. Thus, at the stage of planning a new public construction project and estimating the cost, those in charge of budgeting estimate construction cost based on existing data and experiences, compare construction cost estimated after the basic design stage and the execution design stage with budgets, and then decide whether to continue the project or change the design according to the budgets. Therefore, we would develop the cost prediction model through regression analysis that can predict construction cost in Schematic Design Phase of the Public Multi-Family housing. Accordingly, if public institutions have a construction cost prediction model and management system that can estimate the optimum construction cost, they can make and execute budgets in a more efficient way than they do at present.