• Korean Journal of Construction Engineering and Management
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• v.7 no.1 s.29
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• pp.100-109
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• 2006

Feasibility analysis is a crucial key to success or failure of housing project. Existing feasibility analysis in construction company is based on intuitive approach rather than systematic approach. Usually feasibility analysis in a narrow sense is a financial analysis of project. Feasibility analysis focused in this study is confined to the matter of finance. So, the purpose of this study is to analyze the sensitivity of financial analysis item about profit rate by means of monte carlo simulation and this will improve accuracy of feasibility analysis and decision making.

• Korean Journal of Construction Engineering and Management
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• v.13 no.3
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• pp.14-24
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• 2012

Recently, a delivery system has been rapidly changed in the global construction market. Also, construction projects are becoming bigger and more technology-intensive. A lot of projects have been delivered by Design-Build(DB) System; from the standpoint of cost, approximately 40% of delivered constructions by a Public Procurement Service were DB in 2009. Nevertheless, the achievement has not surpassed our expectations on management of the project cost. On the characteristic of DB, the reasons why that happens are that projects contract have been signed after the Design Development Stage; the insufficient review about new technology and up-to-date construction methods; a lack of discussion in process of design. Those reasons cause a risk of increasing Cost of the projects. In order to solve these problems, it is desirable to find Cost-increasing factors in promoting the projects and select on the order of priority for Risk-Factor with careful management. Therefore, this study analyzed the weight of each phase of the project on the authority of properties of DB project, and identified Risk-factors which is increasing the cost on the aspect of project management. Based on this analysis, the impact assessment of Risk-factor is evaluated through the Failure Mode and Effect Analysis(FMEA).

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• autumn
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• pp.373-378
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• 2003

Korea's overseas construction industry has been rather depressed by the weakened profitability as well as the sharp decrease of the market shares due to the lack of international competitiveness and the declined international market following the outbreak of Iraq war. There exist a lot of various risks in performing the overseas construction, and especially EPC projects, which entail complicated process from different parts, also require a sophisticated procurement and management skill. Subsequently, to survive in the competitive international market, we need to establish strategies to select potentially profitable projects at the initial stage of bidding process and to mitigate the high degree of risk exposures through contract negotiation and its adjustment. This research provides the profitability evaluation bases, with which overseas construction participants can forecast and analyze the risk more systematically, by eliciting profit-influencing factors from real overseas construction projects and structuring their cause-and-effect relationships. The profitability causal hierarchy structure describes the profitability factors' hierarchy in details and their interrelationships. It also enables us to find out critical factors directly related to profitability aggravation through a qualitative analysis. Ultimately, with this hierarchy structure as the base, the research will suggest how to develop the quantitative profitability forecasting model.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• 2008.11a
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• pp.99-105
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• 2008

For large-scale projects, supply chain management of construction materials is a key to a successful construction project. Inefficient management would cause significant loss in project cost, quality problems (and possible re-work), delayed delivery, claims, etc. On the other hand, efficient supply chain management system can reduce risks even the given project suffers from tricky details and frequent changes thanks to reduced material loss, shortened delivery time, and the quality outcome; this is a win-win situation for both clients and contractors. This paper presents a next-generation intelligent supply chain management system, which is intended to support large-scale construction projects such as urban high-rise buildings, as a strategic vision of the future construction logistics.

• Korean Journal of Construction Engineering and Management
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• v.13 no.6
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• pp.45-53
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• 2012

Recently, with achieved US$ 500 Billion international cumulative construction order, the Korean government presented overseas construction industry visions for international orders of US$ 100 Billion and entering the top five countries in global construction market. Also, Korean companies are developing strategies for expansion of international markets. However, ODA loan projects are low risk for the Korea Construction companies trying to advance their overseas business. This study provides data-based advice on securing competence for Korean construction companies entering the global market through the ODA loan projects. To analysis construction firm's competitiveness for ODA loan project, FGD was utilized and BSA model was applied to the valuable analysis. Competencies highly assessed were construction quality control, relationship building through high-level diplomatic activities, and project management. Competencies requiring urgent improvement were handling risks of local countries, financing projects, and developing know-how within participating companies.

• Proceedings of the Korean Institute of Building Construction Conference
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• 2015.05a
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• pp.140-141
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• 2015

Although the depression of oversea construction market becomes more serious recent years, asian construction market is relatively dynamic, particularly in china. However, few research has been conducted about how to manage construction projects in china as foreign developers. Four important risks are identified from series of surveys using the WBS-RBS method, the result shows that the main risk of tender stage is 'Tender max price error', ' Bill of quantities error', 'Unusual low price' and 'Moral risk' respectively.

• Proceedings of the Korean Institute of Building Construction Conference
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• 2017.11a
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• pp.58-59
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• 2017

As the construction industry has been increasingly complex, aging workers, hard-working avoiding young generation, foreign workers having language problem for the past decades, delivering of construction qualified workers has been a rising problem. This misalignment between the complex jobs and the number of skilled workers will continue to be in issue that the construction industry will face for following decades. Construction field workers who are working outside in uncontrollable condition unlike manufacturing industry are exposed to easily construction safety accident. There are so many efforts to prevent and control the construction accident. However, the relationships between the construction works and construction safety accident has not been well dealt and investigated based on objective accident data except for the qualitative study through interview, delphi and so on. Therefore this study analyzes job risk matrix exposed to safety accidents based on statistic data for 20 years from Korean Occupational Safety & Health Agency in order to prevent the construction field accidents.

• Proceedings of the Korean Institute of Building Construction Conference
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• 2022.04a
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• pp.208-209
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• 2022

This study aims to analyze the risk factors caused by object damage and third-party damage loss in actual bridge construction based on past insurance premium payment data from major domestic insurers for bridge construction projects, and develop a quantitative loss prediction model. For the development of quantitative bridge construction loss model, the dependent variable was selected as the loss ratio, and the independent variable adopted 1) Technical factors: superstructure type, foundation type, construction method, and bridge length 2) Natural hazards: flood anf Typhoon, 3) Project information: total construction duration, total cost and ranking. Among the selected independent variables, superstructure type, construction method, and project period were shown to affect the ratio of bridge construction losses, while superstructure, foundation, flood and ranking were shown to affect the ratio of the third-party losses.

• Proceedings of the Korean Society of Computer Information Conference
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• 2022.07a
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• pp.107-109
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• 2022

본 논문은 건설구조물 안전의 가장 중요한 요소 중 하나인 콘크리트 압축강도 안정성을 확보하기 위한 시스템으로, 콘크리트 구조물을 만들 재료인 레미콘의 수분 감소율에 따른 압축강도 감소 리스크를 관리할 수 있는 모델을 제시하였다. 동일한 물,시멘트비(W/C)로 생산된 레미콘은 현장타설시까지 교통환경으로 인한 도착시간 지연 및 강우, 강설 등 외부적인 요건으로 감수율이 발생하는 리스크가 발생한다. 이로 인해 콘크리트의 압축강도가 저감하는 중대한 문제가 발생한다. 본 연구에서 제시한 알고리즘을 이용하여 현장 타설전 콘크리트 시료의 함수율을 측정하여 감수율이 발생한 제품 발견시, 실시간으로 Operator로 GCM 기반의 Push Alarm을 전송하여 감수율이 반영된 제품을 제공함으로써 구조물의 안전성을 확보할 수 있는 시스템을 모델링하였다. 본 연구는 기존시스템의 문제점을 실시간으로 개선할 수 있는 것으로 건설현장의 구조물 안정성 확보에 효과가 클 것으로 기대된다.

• Korean Journal of Construction Engineering and Management
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• v.18 no.4
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• pp.3-16
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• 2017

Forecasting cash flow is very important but is difficult and complicated to analysis in high-rise development projects. And An expected value which was forecasted on the early stage is likely to fluctuate due to uncertainties around such complicated huge project to consider the probable uncertainty. There are not objectified method which are able to cope with uncertainty of project, and feasibility study based on selected financial analysis does not include liquidity of cash flow. Through such a stochastic method, developer can cope with cash flow fluctuation and set up a financial plan. Also this study is meaningful for laying the foundation for high-rise development project and feasibility study as well as the suitability and accuracy of feasibility study. Analysis showed that NPV and IRR include residential apartments shows surplus revenue as return of apartments offset deficit of hotel and office. Factors influencing the project feasibility for high-rise development project are sales account of $1^{st}$ year and annual vacancy rate of office.