TY - GEN
T1 - Time series analysis of construction Cost Index using wavelet transformation and a neural network
AU - Nam, Hana
AU - Han, Seung Heon
AU - Kim, Hyoungkwan
PY - 2007
Y1 - 2007
N2 - Construction Cost Index (CCI) is widely used to analyze the construction cost variation in time. It can convert the present construction cost to the future or to the past. The current practice of the future cost estimation is simply an extrapolation of the past CCI, which often leads to the inaccurate estimation of future construction cost. This paper presents a new CCI forecasting model using wavelet transformation and an artificial neural network. Preliminary tests showed that the proposed method produced the shortterm range of a future CCI with a greater accuracy as well as a higher reliability compared to existing methods.
AB - Construction Cost Index (CCI) is widely used to analyze the construction cost variation in time. It can convert the present construction cost to the future or to the past. The current practice of the future cost estimation is simply an extrapolation of the past CCI, which often leads to the inaccurate estimation of future construction cost. This paper presents a new CCI forecasting model using wavelet transformation and an artificial neural network. Preliminary tests showed that the proposed method produced the shortterm range of a future CCI with a greater accuracy as well as a higher reliability compared to existing methods.
UR - http://www.scopus.com/inward/record.url?scp=84862977175&partnerID=8YFLogxK
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U2 - 10.22260/isarc2007/0075
DO - 10.22260/isarc2007/0075
M3 - Conference contribution
AN - SCOPUS:84862977175
SN - 9788190423519
T3 - Automation and Robotics in Construction - Proceedings of the 24th International Symposium on Automation and Robotics in Construction
SP - 453
EP - 456
BT - Automation and Robotics in Construction - Proceedings of the 24th International Symposium on Automation and Robotics in Construction
PB - International Association for Automation and Robotics in Construction I.A.A.R.C)
T2 - 24th International Symposium on Automation and Robotics in Construction, ISARC 2007
Y2 - 19 September 2007 through 21 September 2007
ER -