• Korean Journal of Construction Engineering and Management
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• v.5 no.6 s.22
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• pp.203-211
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• 2004

This study is the results to survey on the problems and improvable Policies for current escalation system in construction contracts, through a Delphi survey to experts. From the survey results, it is desirable to decide the fluctuation rate of construction cost, which is the requirement of escalation clause, on the basis of inflation rate or construction cost index. The desirable price fluctuation rate is proposed as a $3\%$ level. However, it is difficult for construction companies to cope with the sudden increase of material price in advance, arising from short-term shock factors such as exchange rate and international raw material's price. Accordingly escalation system for specified materials, as an exceptional mode, should be introduced. As a method to calculate the fluctuation rate, ARCA(adjustment rate for the categories of articles) is more desirable than ARI(adjustment rate for an index), because the ARCA can be more reflected the characteristics of each construction work.To rationalize the ARI method, it is needed to announce the wage index, material index and machinery expense index via detailed classification by construction types. Also, it is desirable to prescribe the bidding date as a starting date of the price change, rather than contact signing date. considering the price change can happen since the biddiilg stage.

• Korean Journal of Construction Engineering and Management
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• v.16 no.3
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• pp.152-164
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• 2015

Enhancing clarity and transparency of the pricing guide for technical services for public construction works enables the prediction and reimbursement of the service cost for project owners and bidders, while it would also yield benefits for engineers who carry out the construction tasks. In order to improve the global competitiveness of construction service industry, the government revised its pricing guide for techical services for construction works recently, moving away from its previous percentage-of-construction-cost method towards the Cost Plus a Fee Method. However, since the Cost Plus a Fee Method results in the rise of the service price by 153%~197%, there is the need for a review on the method and basis of the adjustment in order to avoid controversies regarding the application of the revised method. In this context, this paper analysed the 2014 revision of the pricing guide for technical services for public construction works through comparison with foreign cases including those of the US and the UK. The analysis yielded the conclusion that, while the shift towards Cost Plus a Fee Method which is widely used in advanced economies is a very meaningful change in large measure, certain aspects still remain problematic. Unlike in advanced economies, the detailed break-down shows the direct labor cost includes certain indirect expenses. Also, indirec expenses are admitted so comprehensively as to include overhead costs and technology royalties. These problems results in redundant estimation of certain expenses, and obstructs transparency in spending details. This paper proposes various improvement measures to address these issues.

• The Journal of the Korea Contents Association
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• v.15 no.11
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• pp.397-409
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• 2015

The Global Financial Crisis and introduction of International Financial Reporting Standards (IFRS) urged the banks to strengthen their asset qualities. The banks dispose their non performing loans(NPLs) consistently to maintain a sufficient BIS capital adequacy ratio. Accordingly, the interests in auctions, as a disposal method, of real estates that secured for NPLs are on the increasing. This study suggest an alternative for fairness consolidation of real estate auctions which secured for NPLs. First, the impartial entry barriers for NPL sales markets need to be eliminated for fair bidding competition in auctions for real estate that secured for NPLs. In addition, the portion of NPL disposal by real estate auctions need to be expanded. Second, the asymmetry of trade information in the retail markets of NPLs and the abuse of offset by NPL owners' also should be restricted. The Fairness improvement of NPL trading process and real estate auction process that secured for them would of great use in the protection of bidders. Futhermore, it would also contribute to the revitalization of real estate auction markets and the resolution of NPLs of banks through fair disposal of distressed assets.

• The Journal of the Convergence on Culture Technology
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• v.7 no.4
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• pp.879-892
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• 2021

In a make-to-order manufacturing environment, the manufacturer's quotation information is important information used as basic information for bidding, receiving orders, and producing products in response to various customer demands. This quotation information is changed according to various factors such as customer demands, changes in product production environment, changes in drawing information of technical partners, and technological improvement of products. Due to this change, various changes occur in the quotation information that the manufacturer is preparing to reflect the customer's requirements. The change of quotation information according to these various change factors puts a lot of burden on the quotation management work from the standpoint of a make-to-order manufacturing company. In particular, the change of quotation information due to the change factors of quotation is inevitable and frequently occurs due to the requirements of the customer in the customer-oriented make-to-order production environment. In this paper, we propose a quotation change process based on the quotation creation process and propose a consistent and efficient quotation change processing method. To this end, the factors causing the change of quotation were defined, and the types of changes for each factor were defined. And it shows the procedure of applying the quotation change process to the quotation management system through the cases of each cause of the quotation change. In addition, in order to show the usefulness of the quotation change factors, the type of quotation change, the quotation change process, and the quotation system management, the proposed quotation change process and function was applied in the integrated quotation management system for the ship engine division of a typical make-to-order manufacturing company 'H'. As a result, it was confirmed that the proposed quotation change process and management system according to the quotation change factors were efficiently performed.

• KIPS Transactions on Software and Data Engineering
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• v.12 no.11
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• pp.471-480
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• 2023

The Korean construction order volume in South Korea grew significantly from 91.3 trillion won in public orders in 2013 to a total of 212 trillion won in 2021, particularly in the private sector. As the size of the domestic and overseas markets grew, the scale and complexity of EPC (Engineering, Procurement, Construction) projects increased, and risk management of project management and ITB (Invitation to Bid) documents became a critical issue. The time granted to actual construction companies in the bidding process following the EPC project award is not only limited, but also extremely challenging to review all the risk terms in the ITB document due to manpower and cost issues. Previous research attempted to categorize the risk terms in EPC contract documents and detect them based on AI, but there were limitations to practical use due to problems related to data, such as the limit of labeled data utilization and class imbalance. Therefore, this study aims to develop an AI model that can categorize the contract terms based on the FIDIC Yellow 2017(Federation Internationale Des Ingenieurs-Conseils Contract terms) standard in detail, rather than defining and classifying risk terms like previous research. A multi-text classification function is necessary because the contract terms that need to be reviewed in detail may vary depending on the scale and type of the project. To enhance the performance of the multi-text classification model, we developed the ELECTRA PLM (Pre-trained Language Model) capable of efficiently learning the context of text data from the pre-training stage, and conducted a four-step experiment to validate the performance of the model. As a result, the ensemble version of the self-developed ITB-ELECTRA model and Legal-BERT achieved the best performance with a weighted average F1-Score of 76% in the classification of 57 contract terms.