The maturing concept of estimating project cost contingency: A review
Contingency is a ubiquitous component of project cost estimating. This paper provides a review of the literature pertaining to the estimating of project cost contingency. It describes the flaws of the tradition percentage method for estimating project cost contingency and sets out more robust estima...
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| Format: | Conference Paper |
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University of Technology, Sydney
2006
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| Online Access: | http://hdl.handle.net/20.500.11937/29634 |
| _version_ | 1848752857592889344 |
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| author | Baccarini, David |
| author2 | Runeson, G |
| author_facet | Runeson, G Baccarini, David |
| author_sort | Baccarini, David |
| building | Curtin Institutional Repository |
| collection | Online Access |
| description | Contingency is a ubiquitous component of project cost estimating. This paper provides a review of the literature pertaining to the estimating of project cost contingency. It describes the flaws of the tradition percentage method for estimating project cost contingency and sets out more robust estimation methods - regression analysis, Monte Carlo simulation and artificial neutral networks. In particular, the application of regression analysis for predicting project cost contingency is reviewed in detail as a prelude to the author’s research into the development and testing of a regression model for forecasting project cost contingency for engineering construction projects. |
| first_indexed | 2025-11-14T08:15:17Z |
| format | Conference Paper |
| id | curtin-20.500.11937-29634 |
| institution | Curtin University Malaysia |
| institution_category | Local University |
| last_indexed | 2025-11-14T08:15:17Z |
| publishDate | 2006 |
| publisher | University of Technology, Sydney |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | curtin-20.500.11937-296342017-01-30T13:14:05Z The maturing concept of estimating project cost contingency: A review Baccarini, David Runeson, G Best, R. project cost contingency cost modelling regression Contingency is a ubiquitous component of project cost estimating. This paper provides a review of the literature pertaining to the estimating of project cost contingency. It describes the flaws of the tradition percentage method for estimating project cost contingency and sets out more robust estimation methods - regression analysis, Monte Carlo simulation and artificial neutral networks. In particular, the application of regression analysis for predicting project cost contingency is reviewed in detail as a prelude to the author’s research into the development and testing of a regression model for forecasting project cost contingency for engineering construction projects. 2006 Conference Paper http://hdl.handle.net/20.500.11937/29634 University of Technology, Sydney fulltext |
| spellingShingle | project cost contingency cost modelling regression Baccarini, David The maturing concept of estimating project cost contingency: A review |
| title | The maturing concept of estimating project cost contingency: A review |
| title_full | The maturing concept of estimating project cost contingency: A review |
| title_fullStr | The maturing concept of estimating project cost contingency: A review |
| title_full_unstemmed | The maturing concept of estimating project cost contingency: A review |
| title_short | The maturing concept of estimating project cost contingency: A review |
| title_sort | maturing concept of estimating project cost contingency: a review |
| topic | project cost contingency cost modelling regression |
| url | http://hdl.handle.net/20.500.11937/29634 |