Parametric Method and Building Information Modeling-Based Cost Estimation Model for Construction Cost Prediction in Architectural Planning

Economic feasibility and cost analysis in the preliminary planning stage of early-phase construction projects have a significant impact on project management and implementation. However, while estimating the construction cost per unit area, the existing approaches do not account for factors other than the area-related information, causing estimation error. Therefore, a construction cost estimation model that can be utilized in the early phase of a construction project is developed in this study based on BIM in the architectural planning stage. Moreover, goodness of fit and accuracy of the model were verified through a validation method considering the BIM design process. The proposed model showed higher accuracy than the conventional models in terms of the floor area. Furthermore, it was possible to confirm the model performance based on the cost estimation accuracy range presented by the AACE. In addition, the developed model can generate estimation results corresponding to Class 1–3, a subsequent construction project stage. The findings of this study emphasize the importance of jointly considering the processes related to construction cost estimation and indicate that parameters other than the floor area need to be considered for construction cost estimation in the early phase of a construction project.