life-cycle-cost-lcc – Ray Gao's Cabinet of Curiosities

A framework of developing machine learning models for facility life-cycle cost analysis

Abstract Machine learning techniques have been used for predicting facility-related costs but there is a lack of research on developing machine learning models for the complete life-cycle cost (LCC) analysis of facilities. This research aims to systematically investigate the feasibility of forecasting facilities’ LCC by implementing machine learning on historical data. The authors propose aContinue reading “A framework of developing machine learning models for facility life-cycle cost analysis”

A Framework for Developing Machine Learning Models for Facility Life Cycle Cost Analysis through BIM and IoT

Summary A large amount of resources are spent on constructing new facilities and maintaining the existing ones. The total cost of facility ownership can be minimized by focusing on reducing the facilities life-cycle costs (LCC) rather than the initial design and construction costs. This thesis presents a research project that developed a machine learning-enabled facilityContinue reading “A Framework for Developing Machine Learning Models for Facility Life Cycle Cost Analysis through BIM and IoT”