Engineering and Design Cost/Rate Forecasting System. Volume 1. Model Development and Data Analysis
CONSTRUCTION ENGINEERING RESEARCH LAB (ARMY) CHAMPAIGN IL
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This report discusses the development of statistically based models for forecasting engineering and design ED costs in order to establish military construction cost targets for Corps of Engineers Districts and Divisions. The model developed is programmed on the TEKTRONIX 4051 graphics system in the Office of the Chief of Engineers OCE. When the model was verified, only one of 18 predictions was outside the prediction limits 95 confidence. The model is best used to project ED costs 1 year in advance, and it is recommended that it be used to help establish cost targets for applicable Corps DivisionsDistricts.
- Economics and Cost Analysis
- Civil Engineering