Cost estimators play an important role in an organization, as they produce most predictions of probable final construction cost. Since both under- and overestimates can be costly, attention should be paid to the estimating tasks. People involved are therefore likely to experience a considerable...

The selection of a competent architect is vital to the success of a development. Like in many developed countries, developers in Hong Kong select architects based on a set of criteria. Price is not the only consideration in the process, and decisions rely heavily on subjective judgement. By...

Previous research on building pre-tender cost estimating stresses the importance of giving accurate estimates and minimizing estimating errors. Cost models, especially those mathematical models using mean square error or the like for model training and validation, often treat positive errors...

This note is a comment on Chinyio, E.A., Olomolaiye, P.O., Kometa, S.T. and Harris, F.C. (1998) A needs based methodology for classifying construction clients and selecting contractors, Construction Management and Economics, 16(1), 91-98, which describes research aimed at classifying clients by...

John Raftery (1993), in his Inaugural Lecture at the University of Greenwich, suggested that project cost estimates be presented in the form of cumulative probability functions (termed here 'Raftery curves') rather than the current practice of single-point estimates. This paper describes a...

A theoretical framework is proposed for determining the minimum number of bidders in competition for projects in the construction industry. This is based on the neo-classical micro-economic theory for price determination in construction and the assumption of random contractor-selection....

The construction industry is an industry of major strategic importance. Its level of productivity has a significant effect on national economic growth. Productivity indicators are examined. The indicators consist of labour productivity, capital productivity, labour competitiveness, capital...

Client owners usually need an estimate or forecast of their likely building costs in advance of detailed design in order to confirm the financial feasibility of their projects. Because of their timing in the project life cycle, these early stage forecasts are characterized by the minimal amount...

Performance in the construction industry is increasingly scrutinized as a result of the delays, cost overruns and poor quality of the industry's products and services. Increasingly, disputes, conflicts and mismatches of objectives among participants are contributory factors. Performance...