Study of Conceptual Cost in Construction Project in Indian Sub-Continent Field Using ANN

Abstract

Abstract: An important piece of information for sustainable building project planning is conceptual cost. The present approach for estimating the conceptual cost is based mostly on conventional methods that make use of available data and the estimator's own expertise. In most projects, a systematic strategy to calculating and anticipating the conceptual cost for long-term project planning is inadequate. A comprehensive neural network model was built in this study to evaluate the conceptual cost of building projects. A wide variety of micro and macro impacting elements have been explored. The proposed engineering solution was pragmatic in that it used the artificial neural network (ANN) technology to represent labour and material costs incurred at various phases of development. Keywords: conceptual cost, construction project, ANN model development