2309 Initial Cost Estimation Method Based on the Requesting Expression

Abstract

An estimation of a project's cost is one of the important elements for a project's success. It is difficult to accurately understand customer's requirement during the initial phase before making a contract because of the limitation of time and information. Therefore, the basis of cost estimation is unclear, making it difficult to recreate the estimation. These are caused by people's lack of experience. This study proposes a method of using text mining and machine learning estimate project costs based on the word choice of the statement of work.