Research Article
Dec 1981
Forecasting Engineering Costs: Two Case Studies
Publication: Journal of the Construction Division
Volume 107, Issue 4
Abstract
In recent years the subject of statistical forecasting has been brought to a sharp focus as a major area of engineering management decision-making process by the growth of substantive literature and by the onset of sophisticated computers. The choice of the most suitable forecasting technique for a particular engineering application is by no means a simple decision. This study presents two statistical methods that fully make use of the available historical data — the Box-Jenkins stochastic method and the Holt-Winters smoothing method. The forecasts made by both the methods agree very well with the actual observations.
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Information
Published In
Journal of the Construction Division
Volume 107 • Issue 4 • December 1981
Pages: 733 - 743
Copyright
© 1981 American Society of Civil Engineers.
History
Published in print: Dec 1981
Published online: Feb 11, 2021
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Sivajogi D. Koppula, AM.ASCE
Sr. Geotechnical Engr., Hardy Assoc. (1978) Ltd., Edmonton, Alberta, Canada, formerly Chf. Soil Mechanics Engr., Design and Construction Div., Alberta Environment, Edmonton, Alberta, Canada
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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.