Implementation of a Neural Network Model for the comparison of the cost of different procurement approaches

Anthony Harding, David Lowe, Margaret Emsley, Adam Hickson, Roy Duff, E Serpell (Editor)

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Abstract

Existing research which has attempted to determine differences between the costs of the different procurement routes has consistently aimed to determine a single figure for the difference for projects as a whole. No attempt has been made to provide a difference which is project specific (Duff et al., 1998). Furthermore, no previous research has determined the cost to the client using any objective method. The absence of such a technique is significant. It means that the client’s advisors have no means of providing an objective measure of the cost of following different procurement routes. The client must depend upon the judgement of the advisors, which is based on their own perception of both the project and the different procurement routes, and is hence subject to their opinions and prejudices. This paper reports on the development of a neural network model which is able to determine the total cost to the client of a project, as well enabling the project specific comparison of alternative procurement routes.
Original languageEnglish
Title of host publicationInformation and Communication in Construction Procurement
EditorsE Serpell
Place of PublicationSantiago, Chile
Pages269-280
Number of pages12
Publication statusPublished - 2000
EventCIB W92 Construction Procurement System Symposium - Santiago, Chile
Duration: 24 Apr 200027 Apr 2000

Conference

ConferenceCIB W92 Construction Procurement System Symposium
CitySantiago, Chile
Period24/04/0027/04/00

Keywords

  • Cost Modelling, Early Stage Estimating, Neural Networks, Procurement

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