ABSTRACT
Estimating the cost of a construction project is an important task in
construction project planning and management. Cost estimates are
prepared and relied upon at all stages of the project's life cycle. They
provide necessary information for decision making and effective
control and management of construction projects. This task is
currently performed by "experienced" construction cost estimators in
a highly subjective manner. This approach, however, is subject to
human errors and varying results depending on who the construction
cost estimator is with possible litigation consequences.
