Technical Note: Cost Estimation Using ANFIS

Cost function estimation is vital for decision making in project management. In this paper, a novel cost estimator is investigated based on adaptive neuro-fuzzy inference system (ANFIS). In the numerical studies, ANFIS is tested to modeling pressure vessel cost as a case study. According to the comparative results, ANFIS shows better accuracy than multiple linear regression (MLR), taylor kriging (TK) and artificial neural network (ANN). Hence, ANFIS can be applicable to various cost function estimation problems.