A Machine Learning Study To Enhance Project Cost Forecasting
| dc.contributor.author | Narbaev, Timur | |
| dc.contributor.author | Hazir, Oncu | |
| dc.contributor.author | Inan, Tolga | |
| dc.date.accessioned | 2024-03-05T13:01:07Z | |
| dc.date.accessioned | 2025-09-18T15:44:13Z | |
| dc.date.available | 2024-03-05T13:01:07Z | |
| dc.date.available | 2025-09-18T15:44:13Z | |
| dc.date.issued | 2022 | |
| dc.description | Inan, Tolga/0000-0002-8612-122X; Hazir, Oncu/0000-0003-0183-8772 | en_US |
| dc.description.abstract | In project management it is critical to obtain accurate cost forecasts using effective methods. This study presents a Machine Learning model based on Long-Short Term Memory to forecast the project cost. The model uses the seven-dimensional feature vector, including schedule and cost performance factors and their moving averages as a predictor. Based on the cost variation patterns from the training phase, we validate the model using three hundred experiments in the testing phase. Overall, the proposed model produces more accurate cost estimates when compared to the traditional Earned Value Management index-based model. Copyright (C) 2022 The Authors. | en_US |
| dc.description.sponsorship | Science Committee of the Ministry of Education and Science of the Republic of Kazakhstan [AP09259049] | en_US |
| dc.description.sponsorship | This research was funded by the Science Committee of the Ministry of Education and Science of the Republic of Kazakhstan (Grant No. AP09259049). | en_US |
| dc.identifier.citation | İnan, Tolga; Narbaev, Timur; Hazır, Öncü (2022). "A Machine Learning Study to Enhance Project Cost Forecasting", IFAC-PapersOnLine, Vol. 55, No. 10, pp. 3286-3291. | en_US |
| dc.identifier.doi | 10.1016/j.ifacol.2022.10.127 | |
| dc.identifier.issn | 2405-8963 | |
| dc.identifier.scopus | 2-s2.0-85144487483 | |
| dc.identifier.uri | https://doi.org/10.1016/j.ifacol.2022.10.127 | |
| dc.identifier.uri | https://hdl.handle.net/20.500.12416/14191 | |
| dc.language.iso | en | en_US |
| dc.publisher | Elsevier | en_US |
| dc.relation.ispartof | 10th IFAC Triennial Conference on Manufacturing Modelling, Management and Control (MIM) -- JUN 22-24, 2022 -- Nantes, FRANCE | en_US |
| dc.rights | info:eu-repo/semantics/openAccess | en_US |
| dc.subject | Cost Forecasting | en_US |
| dc.subject | Earned Value Management | en_US |
| dc.subject | Estimate At Completion | en_US |
| dc.subject | Machine Learning | en_US |
| dc.subject | Project Management | en_US |
| dc.title | A Machine Learning Study To Enhance Project Cost Forecasting | en_US |
| dc.title | A Machine Learning Study to Enhance Project Cost Forecasting | tr_TR |
| dc.type | Conference Object | en_US |
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| gdc.author.id | Inan, Tolga/0000-0002-8612-122X | |
| gdc.author.id | Hazir, Oncu/0000-0003-0183-8772 | |
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| gdc.author.wosid | Inan, Tolga/F-5632-2018 | |
| gdc.author.wosid | Narbaev, Timur/F-4948-2015 | |
| gdc.author.wosid | Hazir, Oncu/C-8920-2013 | |
| gdc.author.wosid | Inan, Tolga/Aac-9776-2019 | |
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| gdc.description.department | Çankaya University | en_US |
| gdc.description.departmenttemp | [Inan, Tolga] Cankaya Univ, Elect Elect Engn Dept, Ankara, Turkey; [Narbaev, Timur] Kazakh British Tech Univ, Business Sch, Alma Ata, Kazakhstan; [Hazir, Oncu] Rennes Sch Business, Supply Chain Management & Informat Syst Dept, Rennes, France | en_US |
| gdc.description.endpage | 3291 | en_US |
| gdc.description.issue | 10 | en_US |
| gdc.description.publicationcategory | Konferans Öğesi - Uluslararası - Kurum Öğretim Elemanı | en_US |
| gdc.description.scopusquality | Q3 | |
| gdc.description.startpage | 3286 | en_US |
| gdc.description.volume | 55 | en_US |
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| gdc.oaire.keywords | Cost forecasting; Earned Value Management; Estimate at Completion; Machine Learning; Project Management | |
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| gdc.virtual.author | İnan, Tolga | |
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