Estimation at Completion in Civil Engineering Projects: Review of Regression and Soft Computing Models

Abstract

Construction projects are usually associated with several challenges owing to the varying process during the project lifetime. Hence, the final cost of any civil engineering project is influenced by many factors. There are numerous ways of determining the final cost of a project, however, the most essential approach is the Estimate at Completion (EAC) technique. This technique is mostly favored because it considers the probability of risks and project performance. Furthermore, EAC helps project managers in the definition and determination of the critical problems expected during the project period and the likely solutions toward these problems. In this review research, the basic empirical, regression and advanced soft computing methodologies adopted for the EAC computation, were surveyed and reported in detail. The review established on the base to recognize the modern advancement of the soft computing in computing the EAC with accurate, reliable and robust manner. The review was highlighted the main literature limitation, current status and possible future direction.