Research Article
Jun 1982
Application of Cost-Flow Forecasting Models
Author: Shlomo PeerAuthor Affiliations
Publication: Journal of the Construction Division
Volume 108, Issue 2
Abstract
Cost-flow models are formulated for forecasting the cumulative cost-flow in housing and public buildings, as a function of total cost and construction period. This permits to estimate the cost increment for any interval even before any schedule is available. Detailed cost-flows are compiled for all individual projects, and brought to a common denominator by relating cost to time in percentage. The prediction curves are obtained by polynomial regression. Considering the dynamic characters of a company's financial plan, and the need for permanent updating, the deviations obtained by this procedure between the predicted and actual cost of the individual project are insignificant for practical use. These deviations also tend to balance out in compiling the company's overall picture that management is concerned with. The implementation of such models for all major categories of projects engaged in by a construction company can thus greatly simplify one of tha most time and cost consuming steps in establishing and updating a financial plan.
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Information
Published In
Journal of the Construction Division
Volume 108 • Issue 2 • June 1982
Pages: 226 - 232
Copyright
© 1982 American Society of Civil Engineers.
History
Published in print: Jun 1982
Published online: Feb 11, 2021
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Authors
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Shlomo Peer
Assoc. Prof.; Technion - Israel Inst. of Tech., Technion City, Haifa, 32 000, Israel
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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.