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Multiple GMDH models for estimating resource requirements
Accurate estimation or prediction of the resource required for a project is very important for construction. The more accurate the prediction model, the greater the potential for cost savings will be through elimination of any redesign and the minimization of the maintenance expenses. Contractors can also make use of the models for last-minute bid estimation. In the past the estimators perform the task by analogy with similar previous projects. This approach highly relies on their experience and knowledge. Owing to the lack of a scientific and easily apprehensible method in resource estimation, prediction outcomes are mainly based on humans’ perception, which is inconsistent and exhibits large variations. This paper proposes the use of multiple Group Method of Data Handling (GMDH) models in developing models for resource estimation. The illustrative example has demonstrated the high accuracy of the approach which is superior to other architectures based on artificial neural networks.
Multiple GMDH models for estimating resource requirements
Accurate estimation or prediction of the resource required for a project is very important for construction. The more accurate the prediction model, the greater the potential for cost savings will be through elimination of any redesign and the minimization of the maintenance expenses. Contractors can also make use of the models for last-minute bid estimation. In the past the estimators perform the task by analogy with similar previous projects. This approach highly relies on their experience and knowledge. Owing to the lack of a scientific and easily apprehensible method in resource estimation, prediction outcomes are mainly based on humans’ perception, which is inconsistent and exhibits large variations. This paper proposes the use of multiple Group Method of Data Handling (GMDH) models in developing models for resource estimation. The illustrative example has demonstrated the high accuracy of the approach which is superior to other architectures based on artificial neural networks.
Multiple GMDH models for estimating resource requirements
Tam, C.M. (author) / Tong, Thomas K.L. (author)
Construction Innovation ; 5 ; 115-131
2005-06-01
17 pages
Article (Journal)
Electronic Resource
English
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