Olabisi Ololade Ajiferuke

Developing an Artificial Intelligence Cost Decision Support System for Construction Projects: Towards Improving Cost Management

Cost is essential, cost is phenomenal, cost is ultimate, what then is cost not? Cost is not successful. Yes, project cost has not often time been successful. It has been established from researchers that cost is one of the challenges of construction project success, both in developing and developed countries. No matter how small a construction project is, it is often uniquely defined with its complexities, risks, and uncertainties involved. Every client wants cost success, and will adopt methods that can be done in order to have this success for the construction project. However, the question is, can construction cost be successful? The answer is, the search for cost success continues. The adoption of digital technologies in recent years has given a lot of successes in many industries, and the construction industry is also not an exception.  This research aims to look at how Artificial Intelligence can solve the issue of cost success by developing a system that can support stakeholders’ decisions at estimating and control stage.

The system will enable contractors to be able to make viable and vital decisions regarding their estimations so as to avoid wastage, eliminate cost overrun, reduce risk, and to enhance their planning if they can get useful cost data from this system. Likewise, the client will be able to control their funds, see ahead risks that need to be avoided through the information or data gotten through this AI driven decision system. This decision support system will consist of data that is driven by market trends, project specifications, for project similarities, and financial data from past and ongoing projects. Data for this research will be gotten from past and on-going projects. Using the Artificial Intelligence technology to develop this system will help to improve real time cost tracking and predictive cost analysis of new projects before start of the project. It will also improve risk management, cost transparency, improve cost control, enhance collaborations among stakeholders, ensure better decision making, and increase accuracy, and will also reduce burden on stakeholders.

Supervisors

Dr Wallace Enegbuma & Dr Christian Chukwu Ohueri

Qualifications

  • Federal University of Technology Akure (FUTA), M.Tech (Quantity Surveying practices) – Ph.D grade
    Akure, Ondo State, Nigeria | 2011-2016
  • Federal University of Technology Akure (FUTA), B.Tech -  (Second Class Honours - Upper Division)
    Akure, Ondo State, Nigeria | 2003-2008

Publications

  • Adejola F. O., Ngaunje S., Ogunlolu A., Aliu U. I., Ajiferuke O. O., Adetoro O. C., Omoniwa F. H., Sofolahan O., Miju R. B., Olagunju O., Akinola G., and Tunji-Olayeni P. F. Disaster Resilient Infrastructure: A Bibliometric Analysis of Global Research Trends. IOP Conference Series: Earth and Environmental Science
  • Ajiferuke, O.O and Adegbembo, T.F (2022). Assessing The Impact of Covid-19 on Nigerian Construction Industry: A Case of Osun State. Conference proceedings of the Research Conference 6 (Recon 6): Nigerian Institute of Quantity Surveyors
  • Adegbembo T.F, Ajiferuke O.O, Ogbodo V. (2020). Survival Strategies of Quantity Surveying Firms in Lagos State, Nigeria during Economic Recession. Conference Proceedings of The Lagos journal of Environmental Studies.
  • Ajiferuke O.O, Awodele O.A, and Adegbembo T.F. (2017). Challenges of Stakeholder Management Practice in Osun State. Conference Proceedings of Environmental Design and Management International Conference (EDMIC).

Conferences

Ajiferuke, O.O and Adegbembo, T.F (2022). Assessing The Impact of Covid-19 on Nigerian Construction Industry: A Case of Osun State. Conference proceedings of the Research Conference 6 (Recon 6): Nigerian Institute of Quantity Surveyors

Contact

olabisi.ajiferuke@vuw.ac.nz