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METAL 2010 , 2011, pp. 1328-1333. [6] L. Qian and D. Ben-Arieh. “Parametric cost estimation based on activity-based costing: A case study for design and development of rotational parts”. International Journal of Production Economics , vol. 113, no. 2, pp. 805-818, 2008. [7] N. Sajadfar and Y. Ma. “A hybrid cost estimation framework based on feature-oriented data mining approach”. Advanced Engineering Informatics , vol. 29, no. 3, pp. 633-647, 2015. [8] Ch. Hueber, K. Horejsi and R. Schledjewski. “Review of cost estimation: methods and models for aerospace composite

-COCOMO: fuzzy constructive cost model in software engineering [at] Fuzzy Systems IEEE International Conference, San Diego 1992. [7] Attarzadeh I. - Improving estimation accuracy of the COCOMO II using an adaptive fuzzy logic model, Fuzzy Systems (FUZZ), 2011 IEEE International Conference, Taipei 2011. [8] Xu Z., Khoshgoftaar T.M. - Identification of fuzzy models of software cost estimation [in] Fuzzy Sets and Systems, Vol. 145, No. 1, 2004, pp. 141-163. [9] De Souza O., Lima Júnior, Farias P.P., Belchior A.D. - Fuzzy Modeling for Function Points Analysis [in] Software Quality

Abstract

Conceptual cost estimation is important for construction projects. Either underestimation or overestimation of building raising cost may lead to failure of a project. In the paper authors present application of a multicriteria comparative analysis (MCA) in order to select factors influencing residential building raising cost. The aim of the analysis is to indicate key factors useful in conceptual cost estimation in the early design stage. Key factors are being investigated on basis of the elementary information about the function, form and structure of the building, and primary assumptions of technological and organizational solutions applied in construction process. The mentioned factors are considered as variables of the model which aim is to make possible conceptual cost estimation fast and with satisfying accuracy. The whole analysis included three steps: preliminary research, choice of a set of potential variables and reduction of this set to select the final set of variables. Multicriteria comparative analysis is applied in problem solution. Performed analysis allowed to select group of factors, defined well enough at the conceptual stage of the design process, to be used as a describing variables of the model.

Abstract

The aim of the research is to comparatively assess the knowledge and competency levels among valuers and quantity surveyors of cost estimation techniques used in DRC valuation. The study investigates the need for estate surveyors and valuers in Nigeria to improve their current knowledge of cost estimation techniques when valuing non-rent yielding and specialized properties using the DRC method of valuation. More importantly, it evaluates the need for valuers to engage in the services of quantity surveyors in order to ensure that accurate cost estimates are provided for use in the valuation process. The research methodology adopted in actualizing the aim of the present study made use of primary and secondary sources of data, which included texts, published research work and semi-structured questionnaire. Identical questionnaire was distributed to both valuers and quantity surveyors in Lagos and their responses were measured using statistical tables and simple percentages. A proficiency scale of the National Institute of Health was adopted to test the level of competence of cost estimation techniques amongst valuers and quantity surveyors and their responses were ranked. Furthermore, a two-sample t-test was used to compare the means of random samples drawn from the responses of these two populations. The findings showed that there was a lack of awareness more on the part of valuers than quantity surveyors when it came to the knowledge and use of current cost estimating methods when valuing properties using the DRC method of valuation. These findings also gave credence to the fact that the services of quantity surveyors most times were not commissioned when these cost estimates were to be determined for valuation, hence leading to properties being undervalued or overvalued. In a nutshell, the recommendations postulated dwelt on improving the cost estimating knowledge of estate surveyors and valuers through seminars, symposiums and workshops organised by NIESV and NIQS, awareness of the need for valuers to work with quantity surveyors to perfect valuation briefs involving the use of the DRC method and slight changes made to the curriculum of the study course “Estate Management” in tertiary institutions so as to accommodate taking courses in quantity surveying.

. K. (2011). Understanding stakeholders’ perspective of cost estimation in project management. International Journal of Project Management , 29, 622-636. Eaton, D. (2013). Risk and Financial Management Module Lecture Material . Taught Masters Programme, University of Salford, 2012/2013 session. Ekung, S., Adu, E., and Lashinde, A. (2020). System pathogens inhibiting construction project risk management performance: Deliberate ignorance perspective. Journal of Building Performance , 11(1), 68-76. Ekung, S. and Onwusonye, S. (2015). Assessment of Risk Impact on

Summary

Using methods of planning automating of production processes as well as artificial intelligence, the methods presented in this paper were constructed for identifying the set value of manufacturing process parameters, which are key to evaluating the costs of the designed elements. The proposed solutions were adapted for systems used under the conditions of unit and small-batch production.

Abstract

Production of refuse derived fuel from municipal solid waste in future shall play a strategic role in an integrated waste management system. The amount of landfilled biodegradable materials thus will be diminished according to provisions of the 1999 Waste Landfill Directive. The aim of this article is to evaluate cost effectiveness based on cost evaluation of the different complication of the waste pre-treatment equipment complectation and based on regenerable waste quantities in Latvia. The comparison of cost estimates is done in 3 scenarios considering potential waste quantities in Latvia: Scenario I - planned annual waste quantity is 20 kT; Scenario II - 40 kT and Scenario III - 160 kT. An increase in amount of waste and processing capacity means the decrease in costs of mechanical pre-treatment of 1 ton of waste. Thus, costs of mechanical sorting line under different scenarios with capacities of 10 t h-1, 20 t h-1 and 80 t h-1 are EUR 32 per t, EUR 24 per t and EUR 15 per t, respectively. Most feasible cost for a set of mechanical pre-treatment equipment for the capacity of 10 t h-1 is EUR 32 per t by using rotating drum screener with the following manual sorting. Mechanical pre-treatment equipment of unsorted municipal waste is economically nonbeneficial, when the use of fine (biologically degradable) fraction is not possible. As the sorting of biodegradable kitchen waste is not developed under the current waste management system in Latvia, the lines for mechanical pre-treatment of household waste would be better to install in landfills.

Abstract

The paper presents mathematical relationships that allow us to forecast the newbuilding price of new bulk carriers, based on data concerning vessels built in 2005-2015. The presented approximations allow us to estimate the price based on a gross tonnage capacity and a main engine power The approximations were developed using linear regression and the theory of artificial neural networks. The presented relations have practical application for estimation of bulk carrier newbuilding price needed in preliminary parametric design of the ship. It follows from the above that the use of artificial neural networks to predict the price of a bulk carrier brings more accurate solutions than linear regression.

profitable new products with target costing. Sloan Management Review , Vol. 40, pp.23-33. [24] Ben-Arieh D., Qian L., 2003. Activity-based cost management for design and development stage. International Journal of Production Economics , Vol. 83, pp.169-183. [25] Niazi A., Dai J., Balabani S., Seneviratne L., 2005. Product cost estimation: technique classification and methodology review. Journal of Manufacturing Science and Engineering , Vol. 128, pp.563-575. [26] Weustink I.F., ten Brinke E., Streppel A.H., Kals H.J., 2000. A generic framework for cost estimation and

REFERENCES Arab, M. Z. M. (2011). A function-based cost model for early cost advice on new-build schools projects. Ph.D. thesis, Heriot-Watt University. Arafa, M., & Alqedra, M. (2011). Early Stage Cost Estimation of Buildings Construction Projects Using Artificial Neural Networks, Journal of Artificial Intelligence, 4 (1), 63–75. https://doi.org/10.3923/jai.2011.63.75 Ashwood, A. J. (2013). Portfolio selection using artificial intelligence. Ph.D. Thesis, Queensland University of Technology, Australia. Brook, M. (2011). Estimating and tendering for