This paper examines the relative performance of three different systems of forecasting movements in macro building prices. The three systems analysed are (1) the Building Cost Information Service system, (2) the Davis, Langdon & Everest system, and (3) Akintoye and Skitmore's reduced-form...

The financial management of the construction procurement process is dependent upon on the performance of the managers involved. This paper describes an analysis of pre-tender building price forecasts (estimates) made by a Hong Kong consulting organisation for a series of 89 building projects...

With notably few exceptions, bidding models contain probability distributions with parameters that are assumed to be fixed, or stationary, over time. Some methods of method of testing the tenability of this assumption are examined and applied to eight datasets. Of particular interest is the...