Digital Management of Construction Costs

Today, software applications make cost estimation and management easier than ever before, but the role played by a construction professional who undertakes financial control and performance of a project remains as crucial as ever.Digital Management of Construction Costs provides readers with a route to understand how technology is dynamically transforming the construction sector and informs them of digital-first practices that can lead to more accurate forecasting and budgeting during the planning process, benchmarking, and monitoring throughout the expected delivery timeline. Theoretical principles and methodological techniques are accompanied by applied investigations of cases where improved efficiencies brought about by the uptake of novel solutions have led to successful bids or project completion. Added value is also provided by findings of the literature review, a framework conceptualized within the context of industry 4.0, and a discussion on future directions and implications.Written by experts in academia who aim to foster further subject matter research by compiling a useful reference resource, the book proves to be of value to both early-career practitioners and professionals in a more advanced stage of their career who wish to keep abreast of the most recent developments in their field. Includes the latest academic theories and research as well as accounts of present industry activity in different geographiesBridges a gap between traditional approaches and emerging 4IR trends to enhance a project’s performance, never discounting quality and safety of the workFocuses on business intelligence tools which enable multi-objective optimization for both decision-making and delivery processes