IDEAS home Printed from https://ideas.repec.org/a/taf/conmgt/v24y2006i3p259-270.html
   My bibliography  Save this article

PIREM: a new model for conceptual cost estimation

Author

Listed:
  • Wen-Der Yu

Abstract

A new conceptual construction cost estimating method, namely, Principal Item Ratios Estimating Method (PIREM), is presented. The proposed PIREM integrates several existing conceptual estimating methods (including parametric estimating, ratios estimating, and cost significant model) with advanced nonlinear mapping techniques, and adopts a scheme that separates unit prices with the quantities of a cost item. It allows estimators to estimate based on the prevailing unit prices in the marketplace, thus the fluctuation of prices can be reflected on a real-time basis. Two comprehensive case studies were conducted for verification of PIREM. The demonstration case studies show that PIREM is able to provide accurate and the most updated estimates when advanced mapping technologies are incorporated.

Suggested Citation

  • Wen-Der Yu, 2006. "PIREM: a new model for conceptual cost estimation," Construction Management and Economics, Taylor & Francis Journals, vol. 24(3), pages 259-270.
  • Handle: RePEc:taf:conmgt:v:24:y:2006:i:3:p:259-270
    DOI: 10.1080/01446190500183735
    as

    Download full text from publisher

    File URL: http://www.tandfonline.com/doi/abs/10.1080/01446190500183735
    Download Restriction: Access to full text is restricted to subscribers.

    File URL: https://libkey.io/10.1080/01446190500183735?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. A. K. Munns & K. M. Al-Haimus, 2000. "Estimating using cost significant global cost models," Construction Management and Economics, Taylor & Francis Journals, vol. 18(5), pages 575-585.
    2. Ching-Hwang Wang & Yong-Ho Mei, 1998. "Model for forecasting construction cost indices in Taiwan," Construction Management and Economics, Taylor & Francis Journals, vol. 16(2), pages 147-157.
    3. M. Sohail & A. N. Baldwin, 2004. "Performance indicators for 'micro-projects' in developing countries," Construction Management and Economics, Taylor & Francis Journals, vol. 22(1), pages 11-23.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Alison Furber & Sarah Duncan & Simon David Smith & Martin Crapper, 2012. "The health and safety implications of socio-cultural context for community construction projects in developing countries," Construction Management and Economics, Taylor & Francis Journals, vol. 30(10), pages 857-867, October.
    2. Chien-Chung Nieh & Hwey-Yun Yau & Ken Hung & Hong-Kou Ou & Shine Hung, 2013. "Cointegration and causal relationships among steel prices of Mainland China, Taiwan, and USA in the presence of multiple structural changes," Empirical Economics, Springer, vol. 44(2), pages 545-561, April.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:taf:conmgt:v:24:y:2006:i:3:p:259-270. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/RCME20 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.