IDEAS home Printed from https://ideas.repec.org/a/taf/conmgt/v18y2000i5p575-585.html
   My bibliography  Save this article

Estimating using cost significant global cost models

Author

Listed:
  • A. K. Munns
  • K. M. Al-Haimus

Abstract

Cost significant models have been suggested as one way of overcoming criticisms of the amount of detail contained within the traditional bill of quantities. Recent research into these models reveals a lack of formal rules for the selection of work packages to be used within the models, and a potential to overestimate the cost of projects. This paper presents a methodology for selecting work packages, and recommends a refinement to the technique that reduces the variability in estimates produced using cost significance. Estimates are produced using both the traditional method of producing cost significant models, and a refined global cost methodology. Both techniques are tested against unpriced bills to measure the difference in results, with significant improvements being achieved with the new technique.

Suggested Citation

  • A. K. Munns & K. M. Al-Haimus, 2000. "Estimating using cost significant global cost models," Construction Management and Economics, Taylor & Francis Journals, vol. 18(5), pages 575-585.
  • Handle: RePEc:taf:conmgt:v:18:y:2000:i:5:p:575-585
    DOI: 10.1080/014461900407383
    as

    Download full text from publisher

    File URL: http://www.tandfonline.com/doi/abs/10.1080/014461900407383
    Download Restriction: Access to full text is restricted to subscribers.

    File URL: https://libkey.io/10.1080/014461900407383?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Wen-Der Yu, 2006. "PIREM: a new model for conceptual cost estimation," Construction Management and Economics, Taylor & Francis Journals, vol. 24(3), pages 259-270.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:taf:conmgt:v:18:y:2000:i:5:p:575-585. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/RCME20 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.