Research on Prediction of Architectural Engineering Cost based on the Time Series Method
- 10.2991/icmmita-15.2015.122How to use a DOI?
- Architectural engineering; Project cost; Time series; cost prediction
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.
- © 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/).
Cite this article
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 -