| Title |
Analysis of the Issues in Relation to the Development and Operation of Construction Cost Data Sharing Platform - Focusing on Private Building Projects - |
| Authors |
Jee Young Park ; Han Soo Kim |
| DOI |
https://dx.doi.org/10.6106/KJCEM.2025.26.3.014 |
| Keywords |
Data Sharing Platform; Early Stages of Project; Historical Cost Data; Budget Estimating |
| Abstract |
Accurate prediction of construction costs during the early stages of a project is critical for clients to evaluate feasibility and make informed decisions. Traditionally, these estimates are based on expert knowledge and historical cost data from comparable projects. However, in the context of private building projects, limited availability of cost data poses significant challenges to achieving accuracy. While companies maintain their own cost databases, the lack of standardized formats and an integrated sharing system undermines efficiency. The objective of the study is to investigate the current practices and obstacles associated with developing a construction cost data-sharing platform specifically for early-stage private projects. The findings reveal that industry professionals acknowledge the importance of data sharing but remain reluctant to contribute. Key barriers include challenges in data usability, concerns about data confidentiality, limited awareness among decision-makers, and fears of losing competitive advantage. To address these issues, the study proposes the need for the development of a standardized cost classification system, implementation of data anonymization techniques, efforts to enhance executive-level awareness, and the introduction of incentives to encourage data sharing. |