Predesign Cost-Estimation Function for Buildings

Abstract

A predesign cost-estimation function for quite arbitrary buildings is derived utilizing historical cost data. The assumed function is multilinear and its coefficients are determined by means of the least-squares estimation technique. The selection and measurement of the six independent variables of the cost function, the collection of limited but proper historical cost data, and the use of mathematical tools both as a means in arriving at the desired function and as an end in explaining the value and impact of estimation hypotheses are the real contribution of this work. The derived predesign cost-estimation function is subjected to an error analysis and tested with two actual buildings not belonging in the sample data.

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