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Construction Cost Estimation Model and Dynamic Management Control Analysis Based on Artificial Intelligence

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Iranian Journal of Science and Technology, Transactions of Civil Engineering Aims and scope Submit manuscript

Abstract

Construction cost estimation is affected by a wide range of variables, including the area, type, duration, scheduling, and level of recycling of materials, in addition to the customary elements such as materials, labor, equipment, and method. Construction cost projections greatly support managers' decision-making processes, and risk assessment models reduce time delay. The cost of construction projects may be modeled and forecasted using artificial intelligence (AI) and machine learning (ML) approaches that require a huge amount of data. Hence, this paper proposes an AI-driven construction cost estimation and control analysis (AI-CCECA) model for analyzing the preliminary cost of building projects and dynamic management of the control system. The first step is to identify the most significant cost components and variables that affect overall building costs based on real-world data gathered from project bids and deep neural networks. As a result of this research, construction firms will benefit from improved operational efficiency and competitiveness from its ML and optimization framework. Machine learning could improve the cost estimation in the program phase of the construction process. Workflow optimization for cost savings and practical consequences for data-driven management may be achieved using machine learning models, as shown by the findings of this study.

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Acknowledgements

This work was supported by Research on Engineering Cost Management of Prefabricated Buildings in Colleges and Universities in the Implementation Stage Based on BIM technology—A case study of the proposed student dormitory project.

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Authors and Affiliations

  1. CSCEC Southwest Consulting Company Limited, Chengdu, 610041, Sichuan, China

    Zhouxin Yi

  2. Chengdu Technological University, Chengdu, 611730, Sichuan, China

    Xiu Luo

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  1. Zhouxin Yi
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  2. Xiu Luo
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Correspondence to Xiu Luo.

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Yi, Z., Luo, X. Construction Cost Estimation Model and Dynamic Management Control Analysis Based on Artificial Intelligence. Iran J Sci Technol Trans Civ Eng 48, 577–588 (2024). https://doi.org/10.1007/s40996-023-01173-z

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