Refinement of Cost Estimates with Artificial Neural Netsby Irtishad U. Ahmad, (A.M.ASCE), Florida International Univ, Miami, United States,
Syed T. Rahman, Florida International Univ, Miami, United States,
Document Type: Proceeding Paper
Part of: Computing in Civil Engineering
An estimate should be refined for undefined items. Usually, contingency is added to cover any inadequacies in estimate basis definition and inadequacies in estimating methods and data. The practice of applying a contingency factor to increase the bottom line estimate does not seem to have any logical basis. Methods based on assumed statistical distributions have been suggested.
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