Research on Prediction of Architectural Engineering Cost based on the Time Series Method

DOI

10.2991/icmmita-15.2015.122How to use a DOI?

Keywords

Architectural engineering; Project cost; Time series; cost prediction

Abstract

Cost plays a very important role in architectural engineering, and the methods to predict the cost rapidly and accurately are needed. On the basis of the valuation mode of quantities bill, this paper proposed the time series method for predicting project cost. According ti the theory of test, modeling and prediction, the paper carried out time series analysis, taking steel price for example. It withdrew the steel price tendency item, then conducted modeling using the price residual item, finally established the model of steel price. In line with the model, the steel price of the first quarter in 2014 was forecast. By comparing with the real price, it shows that the error was in 5 percent, which proves the model is correct and the time series method based on the valuation mode of quantities bill can be adopted widely to predict manufacturing cost.

Copyright

© 2015, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - Qian Zhang
PY  - 2015/11
DA  - 2015/11
TI  - Research on Prediction of Architectural Engineering Cost based on the Time Series Method
BT  - Proceedings of the 2015 3rd International Conference on Machinery, Materials and Information Technology Applications
PB  - Atlantis Press
SP  - 630
EP  - 634
SN  - 2352-538X
UR  - https://doi.org/10.2991/icmmita-15.2015.122
DO  - 10.2991/icmmita-15.2015.122
ID  - Zhang2015/11
ER  -