Time series analysis of construction Cost Index using wavelet transformation and a neural network

Research output: Chapter in Book/Report/Conference proceedingConference contribution

3 Citations (Scopus)

Abstract

Construction Cost Index (CCI) is widely used to analyze the construction cost variation in time. It can convert the present construction cost to the future or to the past. The current practice of the future cost estimation is simply an extrapolation of the past CCI, which often leads to the inaccurate estimation of future construction cost. This paper presents a new CCI forecasting model using wavelet transformation and an artificial neural network. Preliminary tests showed that the proposed method produced the shortterm range of a future CCI with a greater accuracy as well as a higher reliability compared to existing methods.

Original languageEnglish
Title of host publicationAutomation and Robotics in Construction - Proceedings of the 24th International Symposium on Automation and Robotics in Construction
Pages453-456
Number of pages4
Publication statusPublished - 2007 Dec 1
Event24th International Symposium on Automation and Robotics in Construction, ISARC 2007 - Kochi, India
Duration: 2007 Sep 192007 Sep 21

Publication series

NameAutomation and Robotics in Construction - Proceedings of the 24th International Symposium on Automation and Robotics in Construction

Other

Other24th International Symposium on Automation and Robotics in Construction, ISARC 2007
CountryIndia
CityKochi
Period07/9/1907/9/21

Fingerprint

Time series analysis
Neural networks
Costs
Extrapolation

All Science Journal Classification (ASJC) codes

  • Artificial Intelligence
  • Computer Vision and Pattern Recognition
  • Building and Construction

Cite this

Nam, H., Han, S. H., & Kim, H. (2007). Time series analysis of construction Cost Index using wavelet transformation and a neural network. In Automation and Robotics in Construction - Proceedings of the 24th International Symposium on Automation and Robotics in Construction (pp. 453-456). (Automation and Robotics in Construction - Proceedings of the 24th International Symposium on Automation and Robotics in Construction).
Nam, Hana ; Han, Seung Heon ; Kim, Hyoungkwan. / Time series analysis of construction Cost Index using wavelet transformation and a neural network. Automation and Robotics in Construction - Proceedings of the 24th International Symposium on Automation and Robotics in Construction. 2007. pp. 453-456 (Automation and Robotics in Construction - Proceedings of the 24th International Symposium on Automation and Robotics in Construction).
@inproceedings{146288526b0a4447b59ba864532c334f,
title = "Time series analysis of construction Cost Index using wavelet transformation and a neural network",
abstract = "Construction Cost Index (CCI) is widely used to analyze the construction cost variation in time. It can convert the present construction cost to the future or to the past. The current practice of the future cost estimation is simply an extrapolation of the past CCI, which often leads to the inaccurate estimation of future construction cost. This paper presents a new CCI forecasting model using wavelet transformation and an artificial neural network. Preliminary tests showed that the proposed method produced the shortterm range of a future CCI with a greater accuracy as well as a higher reliability compared to existing methods.",
author = "Hana Nam and Han, {Seung Heon} and Hyoungkwan Kim",
year = "2007",
month = "12",
day = "1",
language = "English",
isbn = "9788190423519",
series = "Automation and Robotics in Construction - Proceedings of the 24th International Symposium on Automation and Robotics in Construction",
pages = "453--456",
booktitle = "Automation and Robotics in Construction - Proceedings of the 24th International Symposium on Automation and Robotics in Construction",

}

Nam, H, Han, SH & Kim, H 2007, Time series analysis of construction Cost Index using wavelet transformation and a neural network. in Automation and Robotics in Construction - Proceedings of the 24th International Symposium on Automation and Robotics in Construction. Automation and Robotics in Construction - Proceedings of the 24th International Symposium on Automation and Robotics in Construction, pp. 453-456, 24th International Symposium on Automation and Robotics in Construction, ISARC 2007, Kochi, India, 07/9/19.

Time series analysis of construction Cost Index using wavelet transformation and a neural network. / Nam, Hana; Han, Seung Heon; Kim, Hyoungkwan.

Automation and Robotics in Construction - Proceedings of the 24th International Symposium on Automation and Robotics in Construction. 2007. p. 453-456 (Automation and Robotics in Construction - Proceedings of the 24th International Symposium on Automation and Robotics in Construction).

Research output: Chapter in Book/Report/Conference proceedingConference contribution

TY - GEN

T1 - Time series analysis of construction Cost Index using wavelet transformation and a neural network

AU - Nam, Hana

AU - Han, Seung Heon

AU - Kim, Hyoungkwan

PY - 2007/12/1

Y1 - 2007/12/1

N2 - Construction Cost Index (CCI) is widely used to analyze the construction cost variation in time. It can convert the present construction cost to the future or to the past. The current practice of the future cost estimation is simply an extrapolation of the past CCI, which often leads to the inaccurate estimation of future construction cost. This paper presents a new CCI forecasting model using wavelet transformation and an artificial neural network. Preliminary tests showed that the proposed method produced the shortterm range of a future CCI with a greater accuracy as well as a higher reliability compared to existing methods.

AB - Construction Cost Index (CCI) is widely used to analyze the construction cost variation in time. It can convert the present construction cost to the future or to the past. The current practice of the future cost estimation is simply an extrapolation of the past CCI, which often leads to the inaccurate estimation of future construction cost. This paper presents a new CCI forecasting model using wavelet transformation and an artificial neural network. Preliminary tests showed that the proposed method produced the shortterm range of a future CCI with a greater accuracy as well as a higher reliability compared to existing methods.

UR - http://www.scopus.com/inward/record.url?scp=84862977175&partnerID=8YFLogxK

UR - http://www.scopus.com/inward/citedby.url?scp=84862977175&partnerID=8YFLogxK

M3 - Conference contribution

AN - SCOPUS:84862977175

SN - 9788190423519

T3 - Automation and Robotics in Construction - Proceedings of the 24th International Symposium on Automation and Robotics in Construction

SP - 453

EP - 456

BT - Automation and Robotics in Construction - Proceedings of the 24th International Symposium on Automation and Robotics in Construction

ER -

Nam H, Han SH, Kim H. Time series analysis of construction Cost Index using wavelet transformation and a neural network. In Automation and Robotics in Construction - Proceedings of the 24th International Symposium on Automation and Robotics in Construction. 2007. p. 453-456. (Automation and Robotics in Construction - Proceedings of the 24th International Symposium on Automation and Robotics in Construction).