Chapter
Apr 26, 2012
Predicting Owner's Contingency for Transportation Construction Projects Using Intelligent Computing Techniques
Authors: Sang C. Lhee [email protected], Raja R. A. Issa [email protected], and Ian Flood [email protected]Author Affiliations
Publication: Computing in Civil Engineering (2009)
Abstract
Construction projects involve many uncertainties and risks in all phases. As a result, all types of construction projects, including transportation projects, have historically experienced significant cost increases. Project contingencies are important items in the cost estimate for compensating invisible and unforeseen risks against underestimating project costs and overrunning budgets. Generally, a contingency is represented as a fixed percentage of project cost (e.g., 5% of the contract value). However, it is not appropriate to apply this deterministic method to all construction projects because it provides an arbitrary percentage value based on only project costs. In this paper, a method for predicting the owner's contingency for transportation construction projects is proposed by identifying factors that affect the owner's contingency and using artificial neural network (ANN) techniques to predict these values. Transportation projects sponsored by the FDOT (Florida Department of Transportation) and completed from 2004 to 2006 are used for this study. The finding shows the viability of the artificial neural network approach to predict the owner's contingency for transportation projects. These predictions in turn can be used to better manage project contingency requirements and allow for additional projects to be brought online at a faster pace.
Get full access to this chapter
View all available purchase options and get full access to this chapter.
Information & Authors
Information
Published In
Copyright
© 2009 American Society of Civil Engineers.
History
Published online: Apr 26, 2012
Permissions
Request permissions for this article.
Authors
Affiliations
Ph.D. Candidate, Rinker School of Building Construction, University of Florida, Gainesville, FL 32611. E-mail: [email protected]
Rinker Professor, Rinker School of Building Construction, University of Florida, Gainesville, FL, 32611. E-mail: [email protected]
Holland Professor, Rinker School of Building Construction, University of Florida, Gainesville, FL, 32611. E-mail: [email protected]
Metrics & Citations
Metrics
Citations
Download citation
If you have the appropriate software installed, you can download article citation data to the citation manager of your choice. Simply select your manager software from the list below and click Download.
Cited by
View Options
Get Access
Access content
Please select your options to get access
Log in/Register
Log in via your institution (Shibboleth)
ASCE Members:
Please log in to see member pricing
Purchase
Save for later Item saved, go to cart Information on ASCE Library Cards
ASCE Library Cards let you download journal articles, proceedings papers, and available book chapters across the entire ASCE Library platform. ASCE Library Cards remain active for 24 months or until all downloads are used. Note: This content will be debited as one download at time of checkout.
Terms of Use: ASCE Library Cards are for individual, personal use only. Reselling, republishing, or forwarding the materials to libraries or reading rooms is prohibited.
Terms of Use: ASCE Library Cards are for individual, personal use only. Reselling, republishing, or forwarding the materials to libraries or reading rooms is prohibited.
Get Access
Access content
Please select your options to get access
Log in/Register
Log in via your institution (Shibboleth)
ASCE Members:
Please log in to see member pricing
Purchase
Save for later Item saved, go to cart Information on ASCE Library Cards
ASCE Library Cards let you download journal articles, proceedings papers, and available book chapters across the entire ASCE Library platform. ASCE Library Cards remain active for 24 months or until all downloads are used. Note: This content will be debited as one download at time of checkout.
Terms of Use: ASCE Library Cards are for individual, personal use only. Reselling, republishing, or forwarding the materials to libraries or reading rooms is prohibited.
Terms of Use: ASCE Library Cards are for individual, personal use only. Reselling, republishing, or forwarding the materials to libraries or reading rooms is prohibited.