Cost estimating with Monte Carlo estimation method using building descriptive properties in multi storey buildings

It is very important to be able to do cost estimating fast and realistic for both investor and contractor. While the investors wants to know the budget of future investment, in the other hand; the contractors wants to estimate the cost truly to obtain the bid by giving a proper tender offer (and make aprofit after won the bid).In this thesis, a model has been created for forecasting costs with Monte Carlo Simulation Method (MCSM) and construction costs and building descriptive properties of multiple reinforced concrete residential buildings entered the system as data. Some elements, which has calculated from projects like building elevations, unit numbers in a flat, normal flat areas, heights of flats, total flats, outer surface?s empty areas, outer surfaces total areas and average areas of the units in normal flats were used as building descriptive properties.It has been studied the relationship between datas and total cost by regretion Analysis (RA) to create a mathematical model of this subject and the cost has been estimated by using Monte Carlo Simulation Method.According to these results, Using Monte Carlo Simulation Method for solving this kind of problems, will be useful for to check current methods and more succesful estimates and studying with similar methods for calculating different kind of buildings costs, will create positive developments.