The Method of Price Adjustment Factor Determination Using Price Index in Railway Engineering
LI Jingjing1, SHEN Qiangqiang1, DING Lu1, ZHANG Wei2, ZHANG Feilian3
1. Changsha University of Science & Technology, Changsha, Hunan 410114, China; 2. China Railway Siyuan Survey and Design Group Co. Ltd, Wuhan, Hubei 430063, China; 3. Central South University, Changsha, Hunan 410076, China
Abstract:Research purposes: The price adjustment caused by price fluctuation is the focus on railway engineering contract disputes, and it is also the key work to effectively control investment and create a fair and harmonious competition environment. Based on the basic idea of FIDIC contract price index adjustment method and the budget estimates of seven railway engineering projects in China, this paper explores the method of price adjustment factor determination using price index in railway engineering: selection of price adjustment elements - determination of the number of combination factors-combination of price adjustment elements. Research conclusions:(1) According to the Pareto principle, the constituent elements of the first 50 material cost are selected as price adjustment elements. (2) The relationship between the number of different combination items and the adjustment rate of contract price is analyzed to determine the combination number of adjustment elements. The Monte Carlo simulation program is compiled by JAVA language. (3) Pearson product distance correlation coefficient of 0.98 is used as the threshold for a combination of price adjustment elements. (4) Based on the budget data and material price information on the case project, eight price adjustment factors of railway civil works are established. (5) The research conclusion has theoretical and practical reference significance of the selection and combination of railway engineering price adjustment elements and the construction of railway engineering prices index system.
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