Cost information model for managing multiple projects

Chul S. Kim, Liang Y. Liu

Research output: Contribution to journalArticle

Abstract

Construction companies must deal with several projects at once, but a system to manage multiple projects is not fully developed yet. The first step towards developing such system is to design an information model that is suitable for managing multiple projects. This paper presents the cost-based project modeling (CBPM) method in contrast to the traditional activity-based project modeling methods. The CBPM uses cost as a core of the model along with other project information organized around it. The CBPM serves as a platform for integrating project information from multiple projects. Various types of construction costs are hierarchically modeled to generate corporate-wide information such as project performances, cash flows, and other predictive indicators. Based on the information model, an object-oriented database was developed to contain cost data across several projects. In the model, a module that connects to external systems is built into the model to enhance interactivity with the legacy systems and the industry standards. A prototype system was developed and tested with actual project data to validate the information processing capabilities of the model. The findings from the test indicate construction cost can be an excellent medium that can organize various types of information of multiple projects.

Original languageEnglish (US)
Pages (from-to)966-974
Number of pages9
JournalJournal of Construction Engineering and Management
Volume133
Issue number12
DOIs
StatePublished - Nov 23 2007

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Keywords

  • Construction cost
  • Construction industry
  • Databases
  • Information management
  • Information technology (IT)
  • Project management

ASJC Scopus subject areas

  • Civil and Structural Engineering
  • Building and Construction
  • Industrial relations
  • Strategy and Management

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