The Design of Cost Estimating Model of Construction Project: Application and Simulation

DOI: 10.4236/ojacct.2012.11003   PDF   HTML     11,589 Downloads   21,945 Views   Citations

Abstract

Construction projects are encountered with serious risks in the completion of the project. One of these risks is the inaccuracy of cost estimate; the project is carried out under conditions of uncertainty, it is whether the over- or underestimate of construction works. This is due to inadequate knowledge of current existing costs, so it leads to a set of difficulties hindering, the smooth progress of the project. Hence, it arises the need to set out a cost estimating model in line with major studies made locally and internationally in terms of estimating methods and a common relationships between various expenses so that the cost estimate would be more realistic.

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A. Challal and M. Tkiouat, "The Design of Cost Estimating Model of Construction Project: Application and Simulation," Open Journal of Accounting, Vol. 1 No. 1, 2012, pp. 15-26. doi: 10.4236/ojacct.2012.11003.

Conflicts of Interest

The authors declare no conflicts of interest.

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