MODELLING OF CONVEYANCE CONSTRUCTION COST BY DECOMPOSITION TECHNIQUE.

Abstract

This paper presents a simple yet effective decomposition technique for estimating the empirical constants associted with a conveyance construction cost function. The procedure proposed will self-locate a set of rough estimates for the empirical constants to be estimated, and refine it subsequently based on a univariate optimization algorithm. The procedure presented has been tested against some synthetic data and data obtained from a cost chart. In this computational study, the proposed technique was found to perform fairly well.