Benchmarking the life cycle cost management of building project

DOI

10.2991/iske.2007.74How to use a DOI?

Keywords

Life cycle cost management, Benchmarking, Building project, Cost benchmark set,Artificial Neural Networks

Abstract

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.

Copyright

© 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/).

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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  -