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Validation Of Geographically Based Surface Interpolation Methods For Adjusting Construction Cost Estimates By Project Location, Su Zhang
Civil Engineering ETDs
In the construction industry, cost estimates are fundamental to the success of a construction project. Location factors are commonly used to adjust cost estimates by project location. However, not all locations have corresponding factors. Nowadays, the construction industry has employed a simple, proximity-based location factor interpolation method which is widely accepted and used. Under this method, for a location without adjustment factor, the factor of the geographically “nearest neighbor” will be selected. Although this approach was statistically substantiated by former research, it was still not sufficiently supported, considering that only one year’s RSMeans City Cost Index (CCI) dataset was tested. …
Validation Of Methods For Adjusting Construction Cost Estimates By Project Location, Adam Martinez
Validation Of Methods For Adjusting Construction Cost Estimates By Project Location, Adam Martinez
Civil Engineering ETDs
Location factors are used to adjust conceptual cost estimates by project location. Presently, the construction industry has adopted a simple, proximity-based interpolation method which uses the “nearest neighbor” location factor to estimate unknown location factors. Although this approach is widely accepted, its validity has not been statistically substantiated. This study assessed the current method of adjusting conceptual cost estimates by project location. An evaluation of 14 alternative spatial estimation methods was also conducted. These methods were based on different approaches for combining 4 criteria: proximity, state boundary, home value, and income. This study used the 2006 RSMeans city cost index …