Abstract
Abstract This paper is concerned with early cost estimation of sport facilities. Sufficiently precise cost estimation is essential for investors in the pre-investment stage where they decide on whether to pursue an investment and choose a suitable technical solution for the development of the project. Through a detailed analysis of the technical and economic documentation pertaining to seven sport facilities projects assembled using concrete prefabricated beam parts, as well as evaluation of the data thus obtained, three types of technical-economic indicators were set in relation to the enclosed building area, the number of spectator seats and the sports playing area. The results achieved indicate that evaluation of relations between these three indicators could contribute to a more effective use of investment funding on the part of the investor. Other conclusions include the finding that available indicators published by private companies active in the area of construction budgeting are not sufficiently accurate for the purposes of investment decision-making; specifically, these indicators greatly overestimate the costs of sport facilities, which can potentially lead to these projects being rejected. This contribution brings know-how for a more accurate early cost estimation of sport facilities in the Czech Republic which can, thanks to a generally applicable methodology, be used in other countries as well.
Highlights
The need to know the approximate costs is essential in a situation where the investor decides on whether to pursue and investment and needs to select a suitable technical solution for the project
Other conclusions include the finding that available indicators published by private companies active in the area of construction budgeting are not sufficiently accurate for the purposes of investment decision-making; these indicators greatly overestimate the costs of sport facilities, which can potentially lead to these projects being rejected
As a result of additional requirements on the projects with regard to the need to maintain the required measure of similarity, information on seven projects were collected. This limitation results from the fact that the Czech Republic is a relatively small market for such a distinctive type of facilities. While they differ from each other in multiple parameters, they are classified within the same JKSO subcategory and represent a relevant set for the purposes of early cost estimation analysis
Summary
The need to know the approximate costs is essential in a situation where the investor decides on whether to pursue and investment and needs to select a suitable technical solution for the project. ÚRS Praha offers the KUBIX application which enables to determine an approximate price of the whole construction project, where it is only necessary to specify a type of building (single-family house, residential building, administrative building, etc.), input some additional general information (building parameters and the level of technical standard), and specify the planned total volume of the building or the room floor area [3]. A number of authors have used neural networks for this purpose, e.g. in relation to tunnel constructions [6] or structural systems of buildings [7]; other potential approaches include e.g. approximate cost estimating based on quantity of standard work [8] and the case-based reasoning model [9]. For adequate estimation of construction costs it is important to estimate correct scope of work, as incorrect scope estimation may lead to both cost and time overruns [10]
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