Construction Project Cost Management Research Articles

Development of a capital expenditure model in the context of construction digitalization

Introduction. The purpose of this research project is to study the development of construction digitalization methods and means. Substantial discrepancies between the state digitalization policy and the practice of mastering digital instruments in the course of construction and investment activities hinder the high-quality implementation of certain tasks. Of particular interest is the problem of calculating capital expenditures at various stages of implementation of an investment project.
 Materials and methods. Methodological approaches to digitalization problems are based on the pricing subsystem extracted from the information model of a project. This subsystem is used to address the main pricing tasks pursued by the government authorities and construction industry contractors implementing their own digitalization options. Conflicting interests of different participants in construction and investment projects, as well as the variance in the informatisation stra­tegy, implemented at the previous stages, substantially complicate the search for a solution that equally satisfies the state and the business community.
 Results. The authors have identified the need to devise consistent state-level methodological approaches to developing information modelling architecture, taking into account the current practice of construction cost budgeting in the course of project management. Towards this end, the logical structure of the “Pricing” subsystem was developed using the information modelling technologies. Design companies, technical clients, project managers, and construction contractors must have equal rights to access and handle construction cost data.
 Conclusions. The authors have found a discrepancy between state approaches to construction project budgeting and cost management practices at the stages of construction project implementation. No large-scale transition to information mode­lling is feasible without the adoption of unified methodological solutions in terms of cost calculations.

Cost Management and Performance Impact Analysis in Large Real Estate Construction Projects: Take Mogadi Real Estate Company as An Example

Cost Management and Performance Impact Analysis in Large Real Estate Construction Projects: Take Mogadi Real Estate Company as An Example

Analysis of the Cost Management of Building Decoration Construction Project

Analysis of the Cost Management of Building Decoration Construction Project

Acceptance of contemporary technologies for cost management of construction projects

The construction industry has become more digital and the traditional methods of construction activities are gradually becoming outdated. In this era of digital construction, various information and communication technologies have been developed and deployed to the site for the management and control of construction activities including cost management. Irrespective of the benefits of adopting these technologies, most of them are still not readily accepted for use for construction management. This study articulated Seven (7) recent technologies driving the industry and evaluated their acceptance for cost management of construction projects. The technologies include mobile technology, Augmented/Virtual Reality (AR/VR), Building Information Modeling (BIM), Internet of Things (IoT), Autonomous Equipment (Drones and Robotics), Artificial Intelligence (AI), and Predictive Analytics (PA). Data was gathered using a restructured questionnaire and technology acceptance model analysis was performed to identify which of the technologies have higher acceptance for cost management based on the criteria of availability, affordability, frequency of use, usefulness for cost management, and acceptance in the industry. Test statistics using Spearman’s correlations and Kendall’s correlations for each of the technologies and Spearman’s Correlations of Technology acceptance with other variables in the TAM Model were performed. The results showed that mobile technology has higher correlation values than other technologies, and therefore has a higher acceptance for cost management. Kendall’s coefficient of concordance values and Spearman’s correlation values for Mobile technology were all above 0.6 which indicates a high level of agreement among the raters and strong relationships between the compared TAM variables.

Exploring the Application of BIM Technology in the Whole Process of Construction Cost Management with Computational Intelligence.

The construction industry is a labor-intensive industry in China. In recent years, as people's living standards have risen, so have their requirements for the functionality, appearance, and comfort of buildings. The amount of information attached to construction projects is also increasing, especially for some modern large-scale construction projects. Due to the long construction period and a large amount of information in the construction process, the difficulty of project engineering management has also increased significantly. At the same time, with the gradual development and improvement of China's market economy system, the prices of labor and materials in the construction industry continue to rise, and the huge consumption of energy and resources no longer meets the strategic requirements of sustainable development. Therefore, construction project cost management is facing a huge impact, the actual effect of construction project cost management work is not good, and the phenomenon of uncontrolled construction project investment commonly occurs. The use of BIM software to build a building information model can integrate information from all stages of the project and facilitate the participation and cooperation of all project entities. Cost management is carried out before the actual construction of the project, thus realizing the whole process of cost management and effectively avoiding the occurrence of actual costs exceeding the budget after the project is completed. The study analyses the suitability of applying BIM technology to the whole process of construction project cost management with computational intelligence and explains the value and advantages of BIM in the whole process of construction project cost management. On this basis, this research provides a specific analysis of the application of BIM technology in the process of cost management at various stages of the whole process of construction projects and thus puts forward suggestions that can solve the obstacles that may be encountered in the whole process of cost management of construction projects in China.

Analysis of BIM in the Whole-Process Cost Management of Construction Projects

In order to improve the quality of project cost management, this paper uses BIM technology to analyze the whole-process project cost to improve its management effect, uses the method of digital processing nuclear pulse signal to conduct simulation analysis, and conducts preliminary simulation. Moreover, this paper discusses the characteristics of cost management data, analyzes the process of BIM in the whole-process cost management of construction projects, and analyzes the possibility of using pulse digital method to improve stability. In addition, this paper constructs the whole-process cost management of engineering projects based on BIM. Through the experimental research, it is verified that the whole-process cost management system based on BIM constructed in this paper has a good effect and can effectively improve the quality of cost management of construction projects.

Suggestions for Optimizing the Cost Management of Construction Projects

Suggestions for Optimizing the Cost Management of Construction Projects

Influence and Countermeasures of Construction Project Site Construction Management on Civil Engineering Cost

Cost management is an important management work during the construction period of construction projects, and doing a good job in cost management is of great significance to both the project investors and the construction parties. In recent years, China began to attach great importance to the construction project cost management work. This paper uses the literature and the investigation method to focus on the impact of the site construction management of construction projects on the civil engineering cost. Secondly, it makes some suggestions on how to reasonably control the civil engineering cost by optimizing the site management, hoping to provide some theoretical reference for the development of relevant practical work.

Analysis of the Problems and Countermeasures of Construction Project Cost Management and Control

Analysis of the Problems and Countermeasures of Construction Project Cost Management and Control

Investigatins the impact of using PMIS in resource management on cost of projects as a conceptual model in construction projects

The Project Management Information System (PMIS) is a powerful tool in project management discussions due to its many benefits. Improper deployment of a PMIS and disregard for its qualitative factors influencing project success will never lead to the achievement of project goals. The purpose of this study was to investigate the impact of using PMIS on the cost management of construction projects that have used this information system. In this study, the impact of PMIS quality factors such as project quality, level of implementation technology, level of design skills, teamwork coefficient and execution time on project cost management was evaluated. The statistical population is the questionnaire of projects implemented through PMIS in construction projects, based on which 100 questionnaires were distributed among the projects and then collected. In this study, structural equation modeling has been used to investigate the research hypotheses. In this regard, "SPSS" software was used. The results of this study indicate that system quality, information quality and service quality have a positive effect on project success in terms of cost management.

Problems and Countermeasures of Construction Project Cost Management at Present Stage

Problems and Countermeasures of Construction Project Cost Management at Present Stage

Construction Project Bidding Agency and Cost Management Strategy in Bidding Stage

In the social development, bidding agency plays an important part, providing services for the development of construction project bidding, and endows the development of construction project bidding with a diversified characteristic. The cost management of a construction project bidding stage has a dynamic characteristic. The bidding agency can provide bidding related business for the construction enterprises to ensure the quality and the effect of the bidding service, leading to the foundation for the sustainable development of the construction enterprises. This paper analyzes the deficiency in the bidding agency, and cost management in the bidding stage of the construction projects, as well provide some effective countermeasures or recommendation, to improve the value, and the role of the bidding agency in managing and controlling the construction project cost within the scope allowed by the law, and regulations, and also to ensure the comprehensive benefits of construction projects for the construction enterprise.

Brief Discussion on the Strategy of Improving the Efficiency of Economic Cost Management of Construction Projects

Brief Discussion on the Strategy of Improving the Efficiency of Economic Cost Management of Construction Projects

Analysis of Measurement and Cost Management of Road and Bridge Construction Projects

Analysis of Measurement and Cost Management of Road and Bridge Construction Projects

Discussion on Cost Management of Photovoltaic Power Station Construction Project

Discussion on Cost Management of Photovoltaic Power Station Construction Project

Research on Construction Project Cost Management under New Situation

Research on Construction Project Cost Management under New Situation

Brief Analysis of the Construction Project Cost Management and Control Analysis

Brief Analysis of the Construction Project Cost Management and Control Analysis

Analysis of domestic and foreign practice of the organization of construction project cost management

Domestic and foreign practice of the construction project cost management are analyzed in the article. The technique, recommended for the international application No. 18R-97 is provided. The matrix for the classification of the cost estimates, including five classes of the assessment, provided by the technique, is offered. The algorithm of application of the budget standards during various stages of forming of construction cost of the project is offered.

Construction Project Cost Management and Control System Based on Big Data

In today’s society, engineering cost management and control is very important content. With the increasing number and scale of construction projects in China and huge investment funds, the collection and sorting of all kinds of information data in construction projects has become one of the problems that need to be solved. Therefore, building the construction project cost management and control system is one of the powerful means to improve the work efficiency of processing information and data, which is also very necessary. This paper mainly analyzes the construction of a perfect, efficient, and rapid processing of relevant information workflow based on large database technology to achieve the whole process of project tracking management and effective cost management and control target system. First of all, this paper introduces the construction project cost management, expounds the characteristics of the management system, and studies the application of big data in the construction project. On this basis, the construction project management software is designed and developed. At the same time, the requirements of the system are studied, and the system is tested. The final test results show that the system has a fast processing time and high processing efficiency in processing the above data, which indicates that the construction project cost management and control system based on big data has obvious advantages in processing large-scale data. When the amount of data is small, the processing speed increases exponentially with the increase of nodes. When the amount of data is large, the acceleration ratio is positively correlated with the number of nodes in a certain proportion. With the increase of nodes, the ratio almost remains unchanged, indicating that the system has high operation efficiency and is relatively stable with the increase of nodes.

Research on Cost Management and Control of Construction Projects

Research on Cost Management and Control of Construction Projects