Budget Of Construction Project Research Articles

Impact Factors of Construction Project Budget Preparation and Budget Quality Control

Impact Factors of Construction Project Budget Preparation and Budget Quality Control

Frame design of the BIM based budget software of nuclear power projects

With the continuous update and iteration of Internet information technology, the application of BIM (Building Information Modeling) technology in the fields of project management, cost and construction is becoming more and more popular. The field of project cost relies on the significant advantages of BIM technology to realize the intelligence of project cost management. It can effectively promote the horizontal information collection and vertical information interaction of different participants, and achieve a good information exchange and interaction effect. This paper combines the characteristics of China nuclear power engineering projects, applies building information modeling (BIM) technology, and integrates it into the nuclear power engineering cost software framework. This paper firstly analyzes the basic characteristics of China nuclear power engineering cost software, and puts forward the key functional requirements for existing cost software. On this basis, the basic characteristics of foreign mainstream construction cost software with BIM technology and the feasibility of its application in China is also analyzed. The model consists of two parts, namely the BIM data management platform and the functional model of the construction project budget subsystem. Among them, the BIM data management platform realizes the analysis, storage and management of IFC (Industry Foundation Class) data, and provides a user interface for specific professional fields, such as the field of construction engineering budget, while the construction engineering budget subsystem provides users with cost budgeting expertise. In addition, this paper describes in detail the method of using BIM technology to create the most used pipe network model in cost assessment. Based on Revit software, combined with the use of visual programming tools Dynamo and Revit API, the repetitive and tedious manual modeling process is automated to compete the creation of the BIM model of a large number of pipe networks in a relatively short time, and make the model carry rich engineering information. This paper establishes a basic framework suitable for China nuclear power engineering cost software, which can lay the foundation for the subsequent development of corresponding software. The pipeline network BIM establishment method proposed in this paper can greatly improve the work efficiency of traditional CAD modeling, realize seamless connection with cost assessment, and has broad engineering application prospects.

Analysis on the Role of Construction Project Budget in Engineering Cost Control of Construction Enterprises

Analysis on the Role of Construction Project Budget in Engineering Cost Control of Construction Enterprises

Measures for the Construction Cost Budget and Settlement Audit

With the deep and sustainable development of the market economy, the competitive environment and development pattern faced by China’s construction industry are becoming more and more severe. In this context, construction projects should actively incorporate the development trends of the market economy and focus on analyzing relevant influencing factors and risk content. Considering previous experience, the audit effect of construction project budget and settlement has a major impact on the quality and economic benefit of construction projects to a certain extent. In view of this, this paper mainly focuses on the content and method of the construction cost budget and settlement audit as well as suggests measures for the construction cost budget and settlement audit, so as to improve the construction cost management level.

The Function of Construction Project Budget in Construction Enterprise Project Cost Control

The Function of Construction Project Budget in Construction Enterprise Project Cost Control

Analysis on the Role of Construction Project Budget in Engineering Cost Control

Analysis on the Role of Construction Project Budget in Engineering Cost Control

Effective Application of Construction Project Budget in Project Cost Control

Effective Application of Construction Project Budget in Project Cost Control

Predicting the Final Cost of Iraqi Construction Project Using Artificial Neural Network (ANN)

Objectives: It is very hard estimated the budget of construction projects at the first step of the building because of the limited data about the project at this step. Developing a mathematical equation to estimate the budget of the Iraqi construction project at initial step is the aim of this study. Method: It involves using of Artificial Neural Network (ANN) to develop the mathematical equation. The researchers collected the information about cost for 501 sets project for the duration (2005–2015). The total costs of 25 activity of construction work such as (excavation the foundation works, Landfill works, filling with sub-base works, Construction works under moisture proof layer, Construction works above moisture proof layer, Construction works of sections, ordinary concrete for walkways, reinforced concrete foundation, reinforced concrete column, reinforced concrete lintel, reinforced concrete slabs, reinforced concrete beams, reinforced concrete stair, reinforced concrete for the sun bumper, plaster finishing works, cement finishing works, Plastic Paints, Pentellite paints, pigment color, Stone packaging, Works of placing marble, Ceramic works for floor, Ceramic works for walls, Flattening (two opposite layers of lime), Flattening (Tiling)) are utilized for cost prediction. Findings: The results of the correlation factor equal to (100%), the percentage of error equal (5.81%) and amount of precision was (94.19%) which indicated that the artificial neural network gives very good performance in prediction construction cost. Applications: ANN is proved useful in estimating the costs of construction well in advance especially when the data are incomplete or limited. Keywords: Artificial Neural Network, Construction Project, Cost Estimate, Cost Estimation Model

Cost Evolution Throughout the Construction Value Chain

This study is based on the following observation: there is a significant difference between the initial budget forecast and the final budget of construction project. Cost differences in construction projects between the first estimate made by the engagement committee and the actual construction cost at the end of the project are highlighted. Our study therefore focuses on indicators that track the overall cost of a construction project from the client's perspective, in this case the real estate development company. The objectives are as follow: Highlight cost variances in construction projects and analyze the gaps between the initial cost design by customer and final construction. The waste between the "design", “marketing” and "construction" phases is discussed. The paper also quantifies waste in terms of cost between the phases. The analysis reveal that the overall cost evolution is 2.59%, with 0.89% coming from the Construction phase and 1.72% from the Marketing phase, and 0.09% from the Design phase. The results could be of interest to a wide range of researchers working on the interface between the design and construction phases.

Using a detailed inventory of a large wastewater treatment plant to estimate the relative importance of construction to the overall environmental impacts

The aim of this work is to quantify the relative contribution to the overall environmental impact of the construction phase compared to the operational phase for a large conventional activated sludge wastewater treatment plant (WWTP). To estimate these environmental impacts, a systematic procedure was designed to obtain the detailed Life Cycle Inventories (LCI) for civil works and equipment, taking as starting point the construction project budget and the list of equipment installed at the Girona WWTP, which are the most reliable information sources of materials and resources used during the construction phase. A detailed inventory is conducted by including 45 materials for civil works and 1,240 devices for the equipment. For most of the impact categories and different life spans of the WWTP, the contribution of the construction phase to the overall burden is higher than 5% and, especially for metal depletion, the impact of construction reaches 63%. When comparing to the WWTP inventories available in Ecoinvent the share of construction obtained in this work is about 3 times smaller for climate change and twice higher for metal depletion. Concrete and reinforcing steel are the materials with the highest contribution to the civil works phase and motors, pumps and mobile and transport equipment are also key equipment to consider during life cycle inventories of WWTPs. Additional robust inventories for similar WWTP can leverage this work by applying the factors (kg of materials and energy per m3 of treated water) and guidance provided.

Incorporación de huella de carbono y huella ecológica en las bases de costes de construcción. Estudio de caso de un proyecto de urbanización en Écija, España

Among the set of factors taken into consideration during the design, planning and decision-making process of construction projects, the present article proposes that the ecological footprint and carbon footprint indicators be included in Construction Cost Databases (CCD), as they are simple, easy-to-use tools that make it possible to incorporate environmental aspects into project budgets. This research analyses the specific case of Andalusia s CCD in order to demonstrate the possibility of incorporating environmental aspects (ecological and carbon footprints) into the construction project budget, thereby creating a new “environmental budget”. The proposed model is validated through the analysis of an industrial development project in Ecija, Spain; the results obtained are comparable to those of other footprint methodologies in the construction sector.

Usefulness and fields of the application of the Earned Value Management in the implementation of construction projects

The Earned Value Method allows the prediction of future values of the total cost and duration of the construction project realization, and also it allows the early detection of the collisions between the schedule and the construction project budget. It is more often indicated its usefulness for monitoring and controlling the construction work progress in the time and cost formulation. It is used, in the indirect way, to control the risk in terms of the cost overruns of the construction project realization and in case of the failure to meet the deadline for completion of the construction project. The authors’ goal was not only to indicate the advantages of the method (widely discussed in the literature) but also to indicate some inaccuracies in the application of the Earned Value Method, which may affect the costs forecasting and the date of completion of the construction project. The conclusions are based on the analysis of several construction project realizations.

A method to estimate occupational health and safety costs in construction projects

This paper presents the results of a research project carried out in Spain that aims to develop a method that let employers to assess, during the design phase, the occupational health and safety costs of a specific construction project. This method classifies costs in four categories: insurance costs, prevention costs, accident costs, and recovery of costs. Labor accident data were obtained from 1990 to 2007 for the entire Spanish construction industry, and these data were subsequently homogenized and exploited. A mathematical model was created for computing each cost category. This method allows employers and project managers to estimate aprioristically the cost incurred as a result of occupational health and safety during the project, based on tangible values such as the construction project budget or the work schedule, as well as statistical data. An application to this method in a case study illustrated that the occupational health and safety costs for that construction project came to approximately 5% of the total cost of the budget.

THE EFFECT OF CURRENT PUBLIC PROCUREMENT LAW ON DURATION AND COST OF CONSTRUCTION PROJECTS IN TURKEY

The current public procurement law (Law No. 4734) was established in Turkey in 2003. The current law has fundamental differences from the previous one, Law No. 2886, in that the current law's main objective is to increase the effective use of public resources. Although the current law was enacted nine years ago, no in-depth research has been undertaken related to the extent of public savings. Thus, the aim of this research is to analyze the performance of public investments for construction with respect to their success in achieving on time and within budget completion. Additionally, a comparison between the completion duration and budget of construction projects undertaken under the current and the previous law is presented. To achieve these goals, historical contract documents addressing 878 and 575 public construction projects undertaken under two laws, respectively, were analyzed. In this context, the data mining method, including decision trees, artificial neural network, and support vector machines, was applied to predict the duration and cost deviations of the construction projects during the tender process, and the results were compared. It was demonstrated that the current law has contributed substantially towards the completion of the projects within estimated or envisaged durations and costs. The findings of this research can be generalized to countries with similar economical and organizational structures with Turkey.

Forecasting Final Cost and Budget of Construction Projects

This paper describes a computational approach to calculating the final cost and budget of a construction project, which is based on the data normally developed by a cost system during the life of the project. While most cost systems are able to collect total budget and to-date cost, budget, and quantity data, there is often less capability to use this data to forecast the final cost of a project. In many cases, the cost forecast for unstarted work does not reflect the overruns or underruns that are recorded early in the life of a project. This paper presents an algorithmic approach that has been tested using the data from 121 completed construction projects, which calculates reasonably good cost and budget forecasts over a wide range of project types and changed conditions. The proposed method is compared to two other methods and is found to be superior in accuracy, timing, and stability. The forecasting method, sliding moving average, is general in its approach and may be useful for other situations in which predictions of limited duration time-series data are desired.

Schedule compression using the direct stiffness method

This paper presents a new method for critical path (CPM) scheduling that optimizes project duration in order to minimize the project total cost. In addition, the method could be used to produce constrained schedules that accommodate contractual completion dates of projects and their milestones. The proposed method is based on the well-known "direct stiffness method" for structural analysis. The method establishes a complete analogy between the structural analysis problem with imposed support settlement and that of project scheduling with imposed target completion date. The project CPM network is replaced by an equivalent structure. The equivalence conditions are established such that when the equivalent structure is compressed by an imposed displacement equal to the schedule compression, the sum of all member forces represents the additional cost required to achieve such compression. To enable a comparison with the currently used methods, an example application from the literature is analyzed using the proposed method. The results are in close agreement with those obtained using current techniques. In addition, the proposed method has some interesting features: (i) it is flexible, providing a trade-off between required accuracy and computational effort, (ii) it is capable of providing solutions to CPM networks where dynamic programming may not be directly applicable, and (iii) it could be extended to treat other problems including the impact of delays and disruptions on schedule and budget of construction projects. Key words: construction scheduling, time–cost trade-off, project cost optimization, scheduling with constraints, project acceleration.