Abstract
This paper seeks to redress the omission in recent literature on the influence of project strategic, site related and design related variables on the cost of construction. It presents, in part, the results of an investigation into the influence of 41 independent variables on both construction cost and client cost, concentrating on design related variables. Data were collected from 286 construction projects in the United Kingdom and correlation and test for differences were used to determine the relationships that exist between the dependent and independent variables. The analysis ascertains the cost ranking of many design related variables and establishes other relationships which exist within the data, confirming many of the relationships that had been anticipated from the literature. It also established the ordinal sequence of several nominal variables. These data, therefore, can be confidently used to develop models of the total cost of construction as verified by the development of both regression analysis and neural network cost models.
| Original language | English |
|---|---|
| Pages (from-to) | 11-24 |
| Number of pages | 14 |
| Journal | Journal of Financial Management of Property and Construction |
| Volume | 12 |
| Issue number | 1 |
| DOIs | |
| Publication status | Published - 1 Mar 2007 |
Keywords
- Construction cost
- client costs
- design related variables
ASJC Scopus subject areas
- Business and International Management
- Accounting
- Finance
- Economics and Econometrics