Construction Economic : Traditional Cost Modelling FOR COLLEGE STUDENTS, FOR RESEARCHERS, FOR LECTURERS by Nur Afifah Humaira, Cost modelling stated as symbolic representation of some observable system which exist or proposed which signifies the Cost, Features for the purposes of display, Analysis, Comparison and Control. This techniques used for forecasting the estimated cost of a proposed construction project. Cost modelling also stated as fundamental cost management tool used by construction economists or quantity surveyors. There have 6 stages of estimate classification that are project identification (stage 1 - stage 3), project definition (stage 4 - stage 5) and project excution (stage 6) . What are the types of Traditional Cost Model ? Figure 1 : Table of types of traditional cost model (shortform) Conference stated as technique that can be used for the preparation of the earliest price estimate which is given to the client. Financial Method stated as cost limit that fi
Concepts of Construction Economics
Assalamualaikum and hye everyone ! My name is Nur Afifah Humaira Binti Azrul Haizad (2018272798) from AP2294B Here for my Final Assessment of Measurement & Estimating II (BSR562), i chose to write about Cost Model that related to our construction economic topic . Stay tuned !! :)