The Performance Evaluation Of Construction Cost Management Based On Set Pair Analysis Theory

With the development of China’s construction industry, the cost managementawareness of all participants has become increasingly strong. Under the increasinglycompetitive situation of the real estate development, the real estate business onlyconstantly improve the level of cost management, in order to ensure the expectedinvestment and achieve economic efficiency. In the whole process of projectdevelopment, seeking to control the points of cost management and achieving costtargets are essential for real estate companies. Therefore, in-depth study of the costmanagement of the real estate project has an important significance.Cost management is a part of project management. From the perspective of theproject, good cost management performance evaluation contributes to a betterevaluation of the good project management. For the characteristics of real estatedevelopment stages, it is essential to consider the impact of cost management fromvarious stages, and also to analyze the level of cost management according to theimportance of selection indictors, so as to further improve the level of the projectmanagement.Introducing SPA theory to the project cost management, this paper is attempt toprovide a practical cost management performance evaluation methods to help the realestate business to monitor and manage the project comprehensively anddynamically.Firstly, from the history and development of project cost management, thearticle analyses the status quo of related domestic and international literature. Wherein,domestic research mainly elaborates the mode, control and innovation of the costmanagement. Based on the reviewing and analyzing SPA theory, conclusion is madethat SPA theory is practical applicable for this study. Secondly, the basic theoreticalknowledge of the SPA theory is introduced and at the same time, analytical proceduresare described briefly. Afterwards, the research establishes cost managementperformance evaluation model of the real estate business.The model decomposes targetsmainly from the various stages of the project, namely the investment decision-makingphase, design phase, bidding phase, construction phase and post-maintenance phase.Inorder to build a SPA model, the paper sets evaluation criteria for each indicator, andthen determines the weight of each index by adopting AHP method. Finally a case isresearched and the case study prove that application of SPA theory in construction costmanagement is feasible and practicable. To a certain extent, the research results can help improve the level of cost management of the real estate business.