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Econometric Entropy - Neural Network-Based Model for Project Cost Adjudication System in Residential Building Project Procurement

Abstract

The main aim of this research work is to develop a Neural network –Econometric –Entropy-Based Project Adjudication Model for Residential Building Project Procurement. An econometric model which incorporates exigency escalator and inflation buffer was generated in this study, this is accompanied with risk entropy matrix that could aid determination of the extent of risk implication on the project elements at tendering and construction stages of building projects. The model incorporates residential building elemental dichotomies within the context of early and late constructible elements with speculated prediction period, taken into consideration the present value of cost. This attributes would enable a builder or contactor load cost implication of an unseen circumstance even on occasion of deferred cost reimbursemen

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