Cost estimation and prediction in construction projects: a systematic review on machine learning techniques
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Cost estimation and prediction in construction projects: a systematic review on machine learning techniques Sanaz Tayefeh Hashemi1 · Omid Mahdi Ebadati2 · Harleen Kaur3 Received: 27 December 2019 / Accepted: 6 September 2020 © Springer Nature Switzerland AG 2020
Abstract Construction cost predictions to reduce time risk assessment are indispensable steps for process of decision-making of managers. Machine learning techniques need adequate dataset size to model and forecast the cost of projects. Therefore, this paper presents analysis and studied manuscripts that proposed for cost estimation with machine learning techniques for the last 30 years. The impact of this manuscript is deep studied of machine learning techniques and applied an analysis methodology in cost estimation based on direct cost and indirect cost of construction projects, which consists of two parts. In the first part, for study the proposals, we focus on collecting related studied from Google Scholar and Science Direct journals. The interested application areas for project cost estimation are building, highway, public, roadway, waterrelated constructions, road tunnel, railway, hydropower, power plant and power projects. The second part is regarded to the analysis of the proposals. For cost analysis, there are possibilities to consider two approaches as qualitative and quantitative. However, reflect to the machine learning techniques the quantitative approach is studied. In quantitative approach, we categorized the models in three parts, as statistical, analogues and analytical model and analyse them based on their features. Correspondingly, papers have been thoroughly investigated based on the application area, method applied, techniques implemented, journals, which have been published in, and the year of publication. The most important outcome of this study is to find out the different analytics methods and machine learning algorithms to predict the cost estimation of construction and related projects and aid to find out the suitable applied methods. Keywords Cost estimation · Prediction · Construction project · Machine learning · Systematic review
1 Introduction Cost prediction is a vital process for every business in that it is a predecessor for budget prices and resource allocation in a project life cycle. Actually, it is hard to obtain input data for cost estimation process, while the scope of work is barely known in that it might lead to poor and rough estimates. The more, the project scope is known there are more chances to generate estimates that are more accurate in that more specifications of the project are defined. However, it should be taken into account that, on the other
hand, by the progressive elaboration, the process of cost control becomes more difficult if the project is based on inaccurate cost estimates. Furthermore, construction industry due to its characteristics and large amounts of capital needed to initiate and continue the project, are the project types which need more attention because they are high-risk [1]. Eit
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