Browse > Article
http://dx.doi.org/10.5345/JKIC.2010.12.6.137

A Suggestion of a Target Costing Concept for Optimal Building Design  

Ahn, Joon-Suk (Department of Architecture, Kyonggi University)
Publication Information
Journal of the Korea Institute of Building Construction / v.10, no.6, 2010 , pp. 137-143 More about this Journal
Abstract
Target Costing is a modern cost management technique used in changeable market conditions. The target cost is set by subtracting the sum of production costs and profits from the market price. The purpose of this present study is to review Target Costing as a useful concept which integrates the project development process with cost management. "Minimum Waste, Maximum Value" could be achieved by setting up guidelines for optimal building design at the beginning of the project development phase. This effective budget management method will help rectify Korea's overspending problems in the area of government building construction projects.
Keywords
Target Costing; Value Engineering; Overspending Budget Problem of Government Office Construction;
Citations & Related Records
연도 인용수 순위
  • Reference
1 Asian Economy [Internet], Design Evaluation Standards being adopted by Public Procurement Service on turn-key project competition [updated : Nov. 4, 2010; cited Nov. 4. 2010] Available from: http://www.asiae.co.kr/news/view.htm?sec=inv3&idxno=2010110416252311951
2 McMahon E. Value Engineering and Design, SAVE Conference; 2005.
3 Korean Institute of Construction and Transportation, 2003 Study on standard technology for construction; 2004.
4 Min KS. A Foreign Case Study on the Induction of Design Value Engineering and EVMS. The Journal of Engineering Research Namseoul University 2003;4:42-43.
5 Sakurai M. Target Costing and How to Use It. Journal of Cost Management. Summer 1989;10:39-40.
6 Nicolini D, Cyril T, Richard H, Alf O, Mark S. Can Target Costing and Whole Life Costing be Applied in the Construction Industry?: Evidence from Two Case Studies, British Academy of Management 2000;11:303.   DOI
7 Han SW, Kim YS. A Study on the Cost Management by Cost Planning, Korea International Accounting Association 2004;11:219-220.
8 Ballard G. Target Costing in the Construction Industry, P2SL 2007 Conference; 2007.
9 Howell G. Lean Construction Opportunities Ideas Practices, Introduction to lean design workshop, Seattle , Washington; 2008.
10 Burke R. Project Management; Planning and Control Techniques. John Wiley & Sons; 2006.
11 The Chosunilbo [Internet], Luxurious government office building [updated : May 11, 2010;cited Nov. 2. 2010] Available from: http://news.chosun.com/site/data/html_dir/2010/05/11/2010051100073.html?Dep1=news&Dep2=headline1&Dep3=h1_06