This report examines the factors that influence the accuracy of early-stage construction cost estimates, focusing on a case study of a 14-story residential tower. The analysis highlights the importance of accurate cost estimation in the construction industry, emphasizing the impact of design changes and incomplete project documents on cost variations. The study utilizes comparative cost estimation techniques, including neural networks and regression analysis, to assess the accuracy of preliminary estimates. The report identifies design changes and rework, as well as conflicts within project documents, as significant contributors to cost overruns, which can lead to significant financial implications for construction projects. The findings underscore the need for meticulous planning, comprehensive documentation, and proactive management to mitigate risks and improve the reliability of cost estimates. The report also references the importance of contingency planning to account for unforeseen design changes that may occur throughout the project.
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