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Cost estimation using ANFIS

Author

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  • Ehsan Lotfi
  • M. Darini
  • M. R. Karimi-T.

Abstract

Cost function estimation is vital for decision-making in project management. In this article, a novel cost estimator is investigated based on an adaptive neuro-fuzzy inference system (ANFIS). In the numerical studies, ANFIS is tested to modeling pressure vessel cost as a case study. According to the comparative results, ANFIS shows better accuracy than multiple linear regression (MLR), Taylor Kriging (TK), and artificial neural networks (ANNs). Hence, ANFIS can be applicable to various cost function estimation problems.

Suggested Citation

  • Ehsan Lotfi & M. Darini & M. R. Karimi-T., 2016. "Cost estimation using ANFIS," The Engineering Economist, Taylor & Francis Journals, vol. 61(2), pages 144-154, April.
    • Handle: RePEc:taf:uteexx:v:61:y:2016:i:2:p:144-154
    DOI: 10.1080/0013791X.2015.1104568
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    Cited by:

    1. Junlong Peng & Jing Zhou & Fanyi Meng & Yan Yu, 2021. "Analysis on the hidden cost of prefabricated buildings based on FISM-BN," PLOS ONE, Public Library of Science, vol. 16(6), pages 1-20, June.

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