Development of user interface for correlated cost risk analysis model (CCRAM) with visual basic

Cost estimation can be considered as one of the most important tasks for construction projects. Various risk-factors affect the construction costs. Therefore, not only estimation of the costs but also the analysis of the uncertainty effect on the estimated costs is required. The widely used method of project cost estimation, i.e. predicting the construction costs and simply calculating the total, is deterministic and insufficient. This approach neglects the uncertainty and the correlation effects. In this regard, correlated cost risk analysis model (CCRAM) was developed by Ökmen [1]. This study presents a user interface developed by Visual Basic for correlated cost risk analysis model to easy data entry and to analyze the construction costs under uncertainty when the costs and risk-factors are correlated without simulation.The aim of this study is to develop a user interface with Visual Basic program for correlated cost risk analysis model, and to evaluate the uncertainty effect on construction project estimated costs. This user interface assure data entry to the CCRAM and evaluate the uncertainty effect on construction project estimated costs without simulation for contractor or decision makers. The efficiency of the user interface for CCRAM is evaluated through hypotetical application in this study.Key Words: User interface, cost analysis, uncertainty, risk management, risk analysis, Visual Basic, correlation