Cost estimation of housing projects by functional areas

Öncül, Mustafa
Good conceptual cost estimates is one of the most important factors affecting the project success. Investment decisions taken and budget preparations are performed from the results of the conceptual estimates. Also, the most difficult cost estimation is the early estimates where there is very limited information. This thesis provides a model for the cost estimation of the housing projects at the conceptual stage, considering not only the total area of the construction, but also considering fractional areas, as kitchen area, bathroom area, living room area and etc. Moreover, model outputs a range of costs considering quality of the construction instead of a point estimate which allows investors to see the possible costs of the project by their choice of luxury.


Building cost index forecasting with time series analysis
Kibar, Mustafa Alptekin; Sönmez, Rifat; Department of Civil Engineering (2007)
Building cost indices are widely used in construction industry to measure the rate of change of building costs as a combination of labor and material costs. Cost index forecast is crucial for the two main parties of construction industry, contactor, and the client. Forecast information is used to increase the accuracy of estimate for the project cost to evaluate the bid price. The aim of this study is to develop time series models to forecast building cost indices in Turkey and United States. The models dev...
Development of a risk assessment tool for post-project appraisal
Anaç, Caner; Birgönül, Mustafa Talat; Department of Civil Engineering (2007)
As competition in the business environment increases, knowledge management becomes a critical success factor. Firms should be able to gather, analyze and reuse knowledge to support their strategic decisions. Construction firms should also analyze information in hand (completed and on going project data) and make it a part of their learning mechanism. Post-project appraisal is an organizational learning mechanism aiming to form an organizational memory. Organizational memory is a remedy for organizational am...
Hybrid Optimization Method for Large-Scale Multimode Resource-Constrained Project Scheduling Problem
Sönmez, Rifat (2016-11-01)
Despite many research efforts that have focused on the multimode resource-constrained project scheduling problem (MRCPSP), very little success has been achieved in solving the problem for large-scale projects. In this paper a new hybrid optimization method is presented to achieve an advancement in optimal planning and scheduling of large-scale construction projects with multiple duration/resource execution modes and resource constraints. The proposed method consists of a novel heuristic and unique genetic o...
A critical review of risk management support tools
Dikmen Toker, İrem; Birgönül, Mustafa Talat (null; 2004-09-03)
It has been claimed by many researchers that "a risk driven approach" to project management is necessary to increase the success of construction projects. Literature is very rich in conceptual frameworks to overcome the informality of risk management efforts. However, risk management paradigms exist as methodologies rather than systems which can fully support the risk management process. The existing risk management support tools are usually based on quantitative risk analysis whereas the other phases are c...
Critical success factors for partnering in the turkish construction industry
Eren, Köksal; Köksal, Eren; Department of Civil Engineering (2007)
Partnering is in the agenda of many construction companies worldwide as it is an effective strategy that may increase competitiveness of partner companies and reduce risks retained by each party. In order for partnering to reach its expected benefits, partner selection is of vital importance. Similarly, there are some critical success factors (CSF) that should be taken into account by the parties in order to maintain a successful partnership throughout its lifecycle. The aim of this thesis is identification...
Citation Formats
M. Öncül, “Cost estimation of housing projects by functional areas,” M.S. - Master of Science, Middle East Technical University, 2006.