An integrated web-based data warehouse and artificial neural networks system for unit price analysis with inflation adjustment

Abstract

Abstract Estimating is a fundamental part of construction projects. Accurate cost estimate is the single most important element involved in the series of events that leads to a profitable completion of a contract in construction industry. The success or failure of a project depends on the accuracy of cost estimation. A cost estimate becomes more difficult and more complicated under inflationary medium. An unpredictable inflation rate and long progress payment delay during this period makes the budgeting function very difficult, if not impossible. The cost estimation process uses lots of data. The availability of the appropriate data at the appropriate time is one of the main factors affecting the accuracy of the cost estimation. As the complexity of the estimating task increases computerized system becomes increasingly important. The estimator should develop a good system of estimating forms and procedures that exactly meet the requirements of the pro- ject, and that is understood and accessible by all te...