A WICE approach to real-time construction cost estimation

Real-time response to construction cost estimation request is crucial for construction firms to survive and grow in the industry. However, no existing construction cost estimating system fulfills this need thus far. This paper describes a joint effort, named Web-based Intelligent Cost Estimator (WICE), by the academia and the industrial partner on developing such a system. Advanced web-based intelligence techniques employed in the proposed system include W`WW, neuro-fuzzy system, and data mining. The industrial partner is in charge of providing knowledge sources, including expert judgments and historical data, for conceptual cost estimation. The proposed WICE is the first-of-a-kind real-time conceptual cost estimating system in practice use. The testing results show that the proposed system provides not only a globally accessible and promptly responding means for cost estimation, but also an effective and reliable tool for real-time decision-making. (c) 2005 Elsevier B.V. All rights reserved.