An Artificial Neural Network Approach for Civil Cost Estimation
Selling Price Estimate.
Construction cost estimate.
What We Do
A Tool For Investors
A Tool For Project Managers
A Tool For different cities globally
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Your All-In-One Solution for a Better Civil Cost Estimation
To remain competitive in the market, it is crucial for companies to have an accurate estimate of their project cost.
Cost Estimating Software Components
Construction project cost estimation includes the following categories as shown in Figure. The task is not only very complex and time-consuming but also very much prone to subjectivity and error. Even current software solutions that calculate a total project cost and keep track of project progress are as good as the data that a project manager or a cost estimator inputs based on the best estimate of the individual cost drivers relying on the cost estimators’ subjective knowledge. List of our software component are:
Our proposed computational algorithm using ML is general and can be used for different regions and different cities globally. We create a dataset per region or city that will be used to train an ML algorithm. We use Artificial Neural Network (ANN) which is a branch of Deep Learning as the engine for our software solution.
ML is a major branch of Artificial Intelligence (AI).
How We Help You to Make Decision Accurate and On-Time
In a globally competitive world, with diminishing profit margins and decreasing market shares, the cost of a construction project is one of the major criteria in decision making at the early stages of a building design process in the construction industry. Nevertheless, given that the data describing the details of the project may be very subjective in nature (depends on the expertise of a cost estimator), the conventional cost estimation methods tend to be slow and inaccurate. With the rise of computing power, there is now a tendency to use Machine Learning (ML) algorithms to estimate the construction cost.
The Civil Costimator uses Machine Learning and Artificial Intelligence (AI) to estimate any complex construction project anywhere in the world at any time of the day.
Our competitive advantage in using ML and AI is in removing any subjectivity in inputting cost parameters using the conventional software packages.
Our software solution will save a great deal of time in providing an accurate answer to our clients.
Our software solution, unlike conventional software solutions, is not based on hard rules and equations. We use machine learning based on historical and current data to eliminate multiple data entries for each project.
We remove the chances of making an error in data entry.
We eliminate any subjectivity based on the expert's opinion by using historical data.
Construction has been a major economic driver for many nations. Construction projects vary in their magnitude and complexity. As the world population continues to grow, the need for more complex construction projects will continue to increase.