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A Model of Time Dependent Design Value Engineering and Life Cycle Cost Analysis for Apartment Buildings  

Seo, Kwang-Jun (전남대학교 대학원)
Choi, Mi-Ra (순천제일대학교)
Shin, Nam-Soo (전남대학교 건축공학부)
Publication Information
Korean Journal of Construction Engineering and Management / v.6, no.6, 2005 , pp. 133-141 More about this Journal
Abstract
In the resent years, the importance of VE (value engineering) and LCC (life cycle cost) analysis for apartment building construction projects has been fully recognized. Accordingly theoretical models, guidelines, and supporting software systems were developed for the value engineering and life cycle cost analysis for construction management including large building systems. However, the level of consensus on VE and LCC analysis results is still low due to the lack of reliable data on maintenance. This paper presents time dependent LCC model based value analysis method for rational investment decision making and design alternative selection for construction of apartment building. The proposed method incorporates a time dependent LCC model and a performance evaluation technique by fuzzy logic theory to properly handle the uncertainties associated with statistics data and to analyze the value of alternatives more rationally. The presented time dependent VE and LCC analysis procedure were applied to a real world project, and this case study is discussed in the paper. The model and the procedure presented in this study can greatly contribute to design value engineering alternative selection, the estimation of the life cycle cost, and the allocation of budget for apartment building construction projects.
Keywords
Time Dependent VE & LCC; Fuzzy Logic Theory; Performance Evaluation; Value Engineering(VE); Life Cycle Cost(LCC);
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