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http://dx.doi.org/10.5345/JKIBC.2014.14.5.415

Presumption Method for Optimum Correction Rate of Total Construction Cost Using the Median based on Historical Data Analysis in Public Office Buildings  

Yim, Jin-Ho (Graduate School, Chungbuk National University)
Park, Jun-Mo (Institute of Construction Technology, Chungbuk National University)
Kim, Ok-Kyue (Department of Architectural Engineering, Chungbuk National University)
Publication Information
Journal of the Korea Institute of Building Construction / v.14, no.5, 2014 , pp. 415-422 More about this Journal
Abstract
There is growing difference between a planned value and an actual cost for increasing as an risk of construction cost. A construction cost index is an alternative to redeem a problem, but it is still very difficult to reduce an actual differential as a price fluctuation. Furthermore an existing theory of a construction cost index is overly complex, and is unsuitable for using in working-level. This study suggests an optimum correction rate in respect of a total construction cost. It is analyzing the actual cost of 53 public buildings that the Public Procurement Service ordered. The objects are main processes that include architectural works, mechanical works, electrical works, telecommunication works, and service facilities. It is compared a total construction cost based on absolute error rate using the median from frequentist principle. For this, it is selected the suitable regression model and set a correction rate.
Keywords
public office buildings; optimum correction rate; total construction costs;
Citations & Related Records
Times Cited By KSCI : 5  (Citation Analysis)
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