Assessment of the Construction Project Costs by Using the Learning Curve

Research Article
Open access

Assessment of the Construction Project Costs by Using the Learning Curve

Hao Wu 1*
  • 1 Southeast University Cheng Xian College    
  • *corresponding author 3220108939@qq.com
Published on 10 November 2023 | https://doi.org/10.54254/2754-1169/27/20231251
AEMPS Vol.27
ISSN (Print): 2754-1177
ISSN (Online): 2754-1169
ISBN (Print): 978-1-83558-075-2
ISBN (Online): 978-1-83558-076-9

Abstract

The project feasibility study, which is the scientific technique, a thorough technical and economic analysis, and a demonstration of the project’s construction before the project decision are the most crucial components of the project's preparatory work. This paper uses the one-factor learning curve to analyze the project cost and then obtains the feasibility study results for the project. The Wright models are the foundation of the tool developed. The model was chosen due to its applicability to the construction sector and its effectiveness in terms of fitness (ability to fit historical data) and predictability in the past (ability to estimate future data).

Keywords:

project feasibility, project evaluation, learning curve, engineering economy

Wu,H. (2023). Assessment of the Construction Project Costs by Using the Learning Curve. Advances in Economics, Management and Political Sciences,27,186-190.
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References

[1]. ARROW K J. Economic implication of learning by doing[J]. Review of Economic Studies,1962,29 ( 3) : 155-173.Author, F., Author, S.: Title of a proceedings paper. In: Editor, F., Editor, S. (eds.) CONFERENCE 2016, LNCS, vol. 9999, pp. 1–13. Springer, Heidelberg (2016).

[2]. ROSENBERG N. Perspectives on technology[M]. Cambridge: Cambridge University Press,1976 (6): 125-127.

[3]. Nations, U. (1965). “Effect of repetition on building operations and processes on site: Report of an enquiry.” 〈http://books.google.com.lb/ books?id=5cV8QgAACAAJ〉 (Nov. 5, 2015).

[4]. Hamade, R. F., Jaber, M. Y., and Sikström, S. (2009). “Analyzing cad competence with univariate and multivariate learning curve models.” Comput. Ind. Eng., 56(4), 1510–1518.

[5]. Wong, P. S., On Cheung, S., and Hardcastle, C. (2007). “Embodying learning effect in performance prediction.” J. Constr. Eng. Manage. 133:6(474), 474–482 (2007).

[6]. Zhang, L., Zou, X., and Kan, Z. “Improved strategy for resource allocation in repetitive projects considering the learning effect.” J. Constr. Eng. Manage (2014).

[7]. Lam, K. C., Lee, D., and Hu, T. (2001). “Understanding the effect of the learning-forgetting phenomenon to duration of projects construction.” Int. J. Proj. Manage., 19(7), 411–420.

[8]. Hinze, J. and Olbina, S. “Empirical analysis of the learning curve principle in prestressed concrete piles.” J. Constr. Eng. Manage., 425–431 (2009).

[9]. JARKAS A,HORNER M. Revisiting the applicability of learning curve theory formwork labor productivity[J]. Construction Management and Economics,2011 (29): 483-493.

[10]. Thomas, H. R. “Construction learning curves.” Pract. Period. Struct. Des. Constr., 14:1(14), 14–20 (2009).

[11]. Roberts, D., and M. Golparvar-Fard. “End-to-end vision-based detection, tracking and activity analysis of earthmoving equipment filmed at ground level.” Autom. Constr. 105 (Sep): 102811 (2019).

[12]. Son, H., H. Seong, H. Choi, and C. Kim. 2019. “Real-time vision-based warning system for prevention of collisions between workers and heavy equipment.” J. Comput. Civ. Eng. 33 (5): 1–14.

[13]. Wang, X., and Z. Zhu. “Vision-based hand signal recognition in construction: A feasibility study.” Autom. Constr. 125 (Feb): 103625 (2021).

[14]. Kulchandani, J. S., and K. J. Dangarwala. “Moving object detection: Review of recent research trends.” In Proc., Int. Conf. on Pervasive Computing, 1–5. New York: IEEE (2015).

[15]. Jaber, M. Y. Learning curves: Theory, models, and applications. Boca Raton, FL: Taylor & Francis Group (2016).

[16]. Anzanello, M. J., and F. S. Fogliatto. “Learning curve models and applications: Literature review and research directions.” Int. J. Ind. Ergon. 41 (5): 573–583 (2011).

[17]. Srour, F. J., D. Kiomjian, and I. M. Srour. “Learning curves in construction: A critical review and new model.” J. Constr. Eng. Manage. 140 (1): 06015004 (2015).

[18]. Ammar, M. A. “LOB and CPM integrated method for scheduling repetitive projects.” J. Constr. Eng. Manage. 139 (1): 44–50. (2013)

[19]. Maravas, A., and J.-P. Pantouvakis. “Fuzzy repetitive scheduling method for projects with repeating activities.” J. Constr. Eng. Manage. 137 (7): 561–564 (2011).

[20]. Hijazi, A. M., S. M. AbouRizk, and D. W. Halpin. 1992. “Modeling and simulating learning development in construction.” J. Constr. Eng. Manage. 118 (4): 685–700 (1992).

[21]. ]Panas, A., and J. P. Pantouvakis. “Simulation-based and statistical analysis of the learning effect in floating caisson construction operations.” J. Constr. Eng. Manage. 140 (1): 04013033 (2014).


Cite this article

Wu,H. (2023). Assessment of the Construction Project Costs by Using the Learning Curve. Advances in Economics, Management and Political Sciences,27,186-190.

Data availability

The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.

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About volume

Volume title: Proceedings of the 7th International Conference on Economic Management and Green Development

ISBN:978-1-83558-075-2(Print) / 978-1-83558-076-9(Online)
Editor:Canh Thien Dang
Conference website: https://www.icemgd.org/
Conference date: 6 August 2023
Series: Advances in Economics, Management and Political Sciences
Volume number: Vol.27
ISSN:2754-1169(Print) / 2754-1177(Online)

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References

[1]. ARROW K J. Economic implication of learning by doing[J]. Review of Economic Studies,1962,29 ( 3) : 155-173.Author, F., Author, S.: Title of a proceedings paper. In: Editor, F., Editor, S. (eds.) CONFERENCE 2016, LNCS, vol. 9999, pp. 1–13. Springer, Heidelberg (2016).

[2]. ROSENBERG N. Perspectives on technology[M]. Cambridge: Cambridge University Press,1976 (6): 125-127.

[3]. Nations, U. (1965). “Effect of repetition on building operations and processes on site: Report of an enquiry.” 〈http://books.google.com.lb/ books?id=5cV8QgAACAAJ〉 (Nov. 5, 2015).

[4]. Hamade, R. F., Jaber, M. Y., and Sikström, S. (2009). “Analyzing cad competence with univariate and multivariate learning curve models.” Comput. Ind. Eng., 56(4), 1510–1518.

[5]. Wong, P. S., On Cheung, S., and Hardcastle, C. (2007). “Embodying learning effect in performance prediction.” J. Constr. Eng. Manage. 133:6(474), 474–482 (2007).

[6]. Zhang, L., Zou, X., and Kan, Z. “Improved strategy for resource allocation in repetitive projects considering the learning effect.” J. Constr. Eng. Manage (2014).

[7]. Lam, K. C., Lee, D., and Hu, T. (2001). “Understanding the effect of the learning-forgetting phenomenon to duration of projects construction.” Int. J. Proj. Manage., 19(7), 411–420.

[8]. Hinze, J. and Olbina, S. “Empirical analysis of the learning curve principle in prestressed concrete piles.” J. Constr. Eng. Manage., 425–431 (2009).

[9]. JARKAS A,HORNER M. Revisiting the applicability of learning curve theory formwork labor productivity[J]. Construction Management and Economics,2011 (29): 483-493.

[10]. Thomas, H. R. “Construction learning curves.” Pract. Period. Struct. Des. Constr., 14:1(14), 14–20 (2009).

[11]. Roberts, D., and M. Golparvar-Fard. “End-to-end vision-based detection, tracking and activity analysis of earthmoving equipment filmed at ground level.” Autom. Constr. 105 (Sep): 102811 (2019).

[12]. Son, H., H. Seong, H. Choi, and C. Kim. 2019. “Real-time vision-based warning system for prevention of collisions between workers and heavy equipment.” J. Comput. Civ. Eng. 33 (5): 1–14.

[13]. Wang, X., and Z. Zhu. “Vision-based hand signal recognition in construction: A feasibility study.” Autom. Constr. 125 (Feb): 103625 (2021).

[14]. Kulchandani, J. S., and K. J. Dangarwala. “Moving object detection: Review of recent research trends.” In Proc., Int. Conf. on Pervasive Computing, 1–5. New York: IEEE (2015).

[15]. Jaber, M. Y. Learning curves: Theory, models, and applications. Boca Raton, FL: Taylor & Francis Group (2016).

[16]. Anzanello, M. J., and F. S. Fogliatto. “Learning curve models and applications: Literature review and research directions.” Int. J. Ind. Ergon. 41 (5): 573–583 (2011).

[17]. Srour, F. J., D. Kiomjian, and I. M. Srour. “Learning curves in construction: A critical review and new model.” J. Constr. Eng. Manage. 140 (1): 06015004 (2015).

[18]. Ammar, M. A. “LOB and CPM integrated method for scheduling repetitive projects.” J. Constr. Eng. Manage. 139 (1): 44–50. (2013)

[19]. Maravas, A., and J.-P. Pantouvakis. “Fuzzy repetitive scheduling method for projects with repeating activities.” J. Constr. Eng. Manage. 137 (7): 561–564 (2011).

[20]. Hijazi, A. M., S. M. AbouRizk, and D. W. Halpin. 1992. “Modeling and simulating learning development in construction.” J. Constr. Eng. Manage. 118 (4): 685–700 (1992).

[21]. ]Panas, A., and J. P. Pantouvakis. “Simulation-based and statistical analysis of the learning effect in floating caisson construction operations.” J. Constr. Eng. Manage. 140 (1): 04013033 (2014).