Benchmarking the life cycle cost management of building project
- 10.2991/iske.2007.74How to use a DOI?
- Life cycle cost management, Benchmarking, Building project, Cost benchmark set,Artificial Neural Networks
Benchmarking of best practices has been proved usefully in the business and manufacturing sectors. However, benchmarking is not established in the life cycle cost management (LCCM) of building project. This paper firstly analysis the barriers of LCCM and finds that the important barriers are history data collection and application in the view of technique, thus the ideas of benchmark management can be used in LCCM effectively. Then it gives the cost benchmark set of LCCM through the analysis of life cycle cost model whose first level is life cycle cost, the second level consists of Capital cost, O&M cost and disposal cost. Every cost element can be divided into more third, forth cost elements. We use three methods to construct the cost benchmark set of LCCM: selecting a benchmark project, combining a virtual benchmark project from several projects, using Artificial Neural Network method. Finally the steps are given to control the life cycle cost of building project using the cost benchmark set of LCCM.
- © 2007, 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 - Guoqiang Ren AU - Qianying Zhang PY - 2007/10 DA - 2007/10 TI - Benchmarking the life cycle cost management of building project BT - Proceedings of the 2007 International Conference on Intelligent Systems and Knowledge Engineering (ISKE 2007) PB - Atlantis Press SP - 441 EP - 446 SN - 1951-6851 UR - https://doi.org/10.2991/iske.2007.74 DO - 10.2991/iske.2007.74 ID - Ren2007/10 ER -