Forecasting Of The Cost Of Building Materials In A Volatile Market
Year: 2022
Type: conference-paper
Abstract: The article proposes a methodology for forecasting market price indicators of one of the main structural elements of the cost of construction material resources. Predictive models are developed taking into account changes in social and economic factors based on neural network methods. The authors provide recommendations on the use of a predictive model in managing the cost of construction products in the system of construction cost engineering. Conclusions and recommendations on the use of neural network models for predicting the cost of material resources in the system of cost engineering in construction: the developed methodology allows planning prices for building materials, taking into account changes in social and economic factors in the regional building materials market; the use of neural network predictive models of the cost of building materials is effective at various stages of the investment and construction process - when planning capital investments, when forming the estimated cost, when determining the price of contracts.
Authors: Irina N. Khaimovich, Olga V. Didkovskaya
Language: English
Field: Decision Sciences
Domain: Social Sciences
Open Access status: hybrid
OpenAlex ID: W4293463672