BIG DATA ANALYTICS (BDA) FRAMEWORK FOR CONSTRUCTION COST ESTIMATION IN MALAYSIA
DOI:
https://doi.org/10.21837/pm.v22i32.1507Keywords:
Big Data, Analytics, Construction Cost Estimation, Cost Overrun, FrameworkAbstract
The construction industry is undergoing significant changes due to the growing volume of data, necessitating the adoption of Big Data Analytics (BDA) for improved project management. Construction projects are inherently uncertain, often resulting in cost overruns. This research focuses on the development of a framework for implementing big data analytics in the estimation of construction costs within the Malaysian construction sector. To achieve this goal, a quantitative research approach was employed, which involved an examination of the industry's awareness of construction cost estimation, comprehension of big data analytics processes in the context of cost estimation, and an exploration of the challenges and potential solutions associated with the integration of BDA. The resultant framework for construction cost estimation via BDA is a dynamic and evolving tool. It is refined iteratively based on insights derived from a questionnaire survey distributed to Consulting Quantity Surveying Practice (CQSP) registered with the Board of Quantity Surveyors Malaysia (BQSM). The BDA framework emerges as a fundamental tool for cost estimators, notably quantity surveyors, facilitating the digital transformation of the cost estimation process and substantively enhancing the precision of contemporary cost estimation methodologies.
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