Quantity-based Early Cost Estimation Model for Road Construction Projects

Cost estimation in the early phase enables government to plan public budgeting more efficiently by providing information about construction cost. However, cost estimation in the early phase is difficult to predict because only a little information can be utilized. The cost estimation method now being used by the government is calculated by length of the road multiplied by unit cost per length and shows high error rate because it cannot reflect the unique characteristics of each project. As the project is being proceeded, level of available information also changed. So, reflecting available information of a project is important. This paper divided early phase into two parts : planning phase and early design phase, and developed cost estimation model considering level of available information of each phase. Total 143 cases are utilized to find influencing variables and develop cost estimation model and model validation is done by adopting required accuracy level. This cost estimation model reflecting level of available information can be applied to public budgeting, feasibility test, and comparison between routes.