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Model on Dynamic Control of Project Costs Based on GM(1,1)for Construction Enterprises

  • Jian-bing Liu
  • Hong Ren
  • Zhi-ming Li
Conference paper
Part of the Advances in Intelligent and Soft Computing book series (AINSC, volume 62)

Abstract

The gray fuzzy predictive model of project costs is built based on the gray fuzzy predictive theory, which can be used to estimate the budget costs work scheduled of the unfinished project in construction phase, and then the budget costs work scheduled can be optimized and adjusted. Besides the buffer management mechanism of the project in construction stage is designed, which is applied to be a timely dynamics warning of project costs control. The gray fuzzy predictive model is combined with the buffer management mechanism of project costs control, which can be used to early dynamic warn and control in the whole construction process, project costs are ensured to be effectively controlled from the project beginning to the end of the project. Finally, the whole control objectives of project costs can be achieved. The gray fuzzy predictive model of project costs and the buffer management mechanism of project costs in construction stage can provide a new kind of way to estimate the budget costs work scheduled of unfinished project of the construction stage, which can provide an important guiding significance of cost management practice for construction enterprises.

Keywords

GM(1 and 1)model dynamic control project costs forecasting early warning mechanism unfinished project costs 

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Copyright information

© Springer-Verlag Berlin Heidelberg 2009

Authors and Affiliations

  • Jian-bing Liu
    • 1
    • 2
  • Hong Ren
    • 1
  • Zhi-ming Li
    • 2
  1. 1.School of Construction Management and Real EstateChongqing UniversityChongqingChina
  2. 2.School of Economics and ManagementJiangxi University of Science and TechnologyJiangxiChina

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