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CASH FLOW FORECASTING IN CONSTRUCTION PROJECT (건설공사에서의 현금흐름 예측)

  • Park Hyung-Keun
    • Proceedings of the Korean Institute Of Construction Engineering and Management
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    • autumn
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    • pp.35-41
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    • 2002
  • This research introduces the development of a project-level cash flow forecasting model in construction stage based on the planned earned value and the cost from a general contractors view on a jobsite. Most previous models have been developed to assist contractors in their pre-tendering or planning stage cash flow forecasts. The critical key to cash flow forecasting at the project level is how to build a cash-out model. The basic concept is to use moving weights of cost categories in a budget over project duration. The cost categories are classified to compile resources with almost the same time lags that are based on contracting payment conditions and credit times given by suppliers or venders. For cash-in, net planned monthly-earned values are simply transferred to the cash-in forecast, to be applied there with billing time and retention money. Validation of the model involves applying data from on-going 4 projects in progress for 12 months. Based on the results of the comparative analyses through the simulation of the proposed model and the existing models, the proposed model is more accurate, flexible and simpler than traditional models to the employee of construction jobsite who is not oriented financial knowledge.

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A Study on Cause-and-Effect Hierarchy of Profit Factors for the Feasibility Evaluation of Overseas Construction Projects (해외건설공사의 타당성 평가를 위한 수익성 영향인자의 인과관계 계층구조 구축에 관한 연구)

  • Sun Seung-Min;Kim Han-Him;Han Seung-Heon
    • 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.

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A Study on the Actual Condition of Electrical Construction Supervision and Countermeasure of It (전력시설물공사 감리제도의 현황과 실태분석 및 개선방안에 관한 연구)

  • Seo, Hwang-Hyeon
    • Proceedings of the KIEE Conference
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    • 2008.09a
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    • pp.15-17
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    • 2008
  • 본 논문은 현행 전력기술 관리법에 의하여 시행되고 있는 전력시설물공사 감리제도의 제도개선에 관한 연구로서 연구자의 현장 실무경험과 감리제도의 일반사항, 감리업자와 감리원에 대한 사항, 감리업자 선정 및 입찰에 관한 사항을 조사하여 전력시설물공사 감리제도의 현황과 실태분석 및 개선방안을 제시한 내용으로 연구결과는 다음과 같다. 첫째, 법적 및 제도적 측면에서 시급히 개선될 사항이다. 정부는 1995년 12월 법률 제5,132호로 전력기술관리법을 제정하여 전력시설물에 대한 공사감리 업무를 별도 분리 발주하여 전문성을 높이도록 전기 분야 전문기술자에 의해 수행토록 하는 것을 골자로 하는 책임 감리제도를 도입하여 오늘에 이르고 있다. 그러나 공사 준골단계에서 전기사업법 제98조 2항에 의해 위탁업무를 하고 있는 전기 안전공사가 사용전 검사를 함으로서 책임 감리제도의 도입 취지를 무색케 한 정도로 심각한 국면에 접어들었다. 전력기술관리법이 제정되어 13년이 지난 오늘까지도 책임 감리제도가 성공적으로 정착되지 못한 근본적인 문제는 사용전 검사를 전기 안전공사에서 대행하고 있다는 것이다. 물론 그동안의 많은 노력으로 어느 정도의 개선은 있었지만 근본적인 문제가 해결되지 않고서는 전력시설물공사의 감리기술의 전문화를 기대하기 어려운 실정이다. 따라서 책임 감리계도의 성공적인 정착을 위해서는 전기사업법 제98조 2항에 의한 위탁 업무인 사용전 감사 제도를 감리업자에게 돌려줌으로서 책임과 권한을 실질적으로 부여하고 감리회사 자체의 기술력 및 기술자 확보와 기술개발에 필요한 운영자금 및 투자 확대를 유도해 나가야 하며, 무엇보다도 확실한 법적 제도적 뒤받침이 선행되어야 한다. 둘째, 제도적 측면에서 일반건축물은 사업주가 전력시설물공사 감리업자를 임의선정 및 수의계약에 의해 감리업자를 지정하고 해당 공사기간동안 전기 감리원을 투입토록 되어 있어 인건비에 미치지 못하는 저가수주와 다음계약을 위해 어쩔 수 없이 사업주에게 종속되는 경우가 많으며, 이로 인해 감리수행에 혼란이 야기되고 책임소재의 불분명 책임 감리원의 조정 및 통제기능이 약화되는 부작용이 나타나고 있다. 전력시설물공사의 감리는 전력시설물의 안전사고, 비효율 및 부실소지 둥을 방지하기 위해서 필수적이고 발주자 감리업자 시공업체에게 모두 도움을 주는 업무이며, 일정규모이상의 건축물은 자발적인 참여로 유도할 수 있도록 적격심사제도(PQ심사)도입이 적극 필요한 실정이다. 셋째, 운용측면에서 공동주택의 주택법에 의한 전력시설물공사 감리는 사업승인권자가 사업수행능력 평가기준(PQ 심사)에 따라 감리업자를 지정하고 해당 공사기간 동안에 전기 감리원을 투입토록 되어 있으나 평가기준이 세대수에 따라 정해져 있어 효율적, 기술적 측면에 미치지 못하는 경우가 많다. 수준 높은 감리를 수행하려면 그에 맞는 적정한 감리원의 투입이 필수적이다. 넷째, 운용 및 제도적 측면에서 공공발주 건축물(공동주택 포함)의 전력시설물공사는 사업수행능력 평가기준(PQ 심사)에 따라 감리업자를 지정하고 해당 공사기간 동안에 전기 감리원을 투입토록 되어 있으나 발주자 소속직원의 감리수행 근거에 의해 자체 감리를 함으로서 시장경쟁 및 민간경제 활성화의 제약, 부정부패 및 비효율 등 사회에 전반적으로 악영향을 끼쳐 하루 빨리 민간 감리업자에게로의 개선이 시급한 실정이다.

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Research on the Normalization Schemes for Insolvent Development Site on Mutual Savings Banks (상호저축은행 부실PF사업장 정상화 방안)

  • Shin, Jong-Chil;Baik, Min-Seok
    • Journal of the Korea Academia-Industrial cooperation Society
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    • v.16 no.1
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    • pp.195-204
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    • 2015
  • This study analyzed the normalization cases of the mutual savings bank insolvency PF (MSBIPF) to suggest the appropriate improvements according to the purpose. The results were as follows. First, the original intention to normalize the MSBIPF was unsuccessful. This may be caused by the daunting situation of the real estate market along with the complex and shared interests. On the other hand, it can be responsible for the lack of evidence and related regulations as well as the lukewarm attitude on public projects. Active institutional settings are warranted to compensate the remaining insolvent businesses to PF even today and in the future. The data related to the recognized sites as the poorest 32 PF sites was compared primarily to normalize by KAMCO and the relevant sites. The area variable was the only significant variable according to the correlation analysis and logit analysis. The direct investment, diverse PF-backed bonds and the activation of the Ritz can be suggested as alternative ways of normalization with respect to the issue of the KAMCO.

A Study on the regional cluster of munition industry by Social Network Analysis (사회연결망분석을 통한 군수품 산업의 지역별 클러스터 관계에 관한 연구)

  • Park, Dongsoo;Kim, JeongHwan;Lee, Donghun
    • Journal of the Korea Academia-Industrial cooperation Society
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    • v.19 no.10
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    • pp.386-393
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    • 2018
  • The Korean military supplies industry tends to become limited in terms of its development to specific areas in line with strategic promotion policies of the local private direct industrial site. However, the relation between base and small cluster is getting lower of the local industrial site. In this study, information related to authorized test reports for munitions was collected through the military quality information system and subjected to social network analysis(SNA). SNA was performed through the relationships among defense quality assurance agencies, test institutions, contracts and cooperative firms through UCINET's Two-Mode Network. In the field of weapon systems, the median technology industry, and the test analysis dependent are high in Seoul, so the analysis revealed that strengthening the infrastructure for test analysis is needed. Also, it was deemed necessary for government-driven political support. Besides, the field support system was efficiently utilizing a relatively local test analysis. It was analyzed that they are overcoming the regional boundaries of small clusters by strategically changing their contract and cooperative firms' status. The research found some spatial inconsistencies between base and small clusters in the military supplies industry, and it was judged that a political suggestion was needed.

Formulating International Entry Strategies for World Bank Consulting Projects Through Country-level Competitive Analysis: A Vietnam Case Study (세계은행 엔지니어링 사업의 국가별 경쟁력 분석을 통한 해외 진출 전략 구축에 관한 연구 - 베트남 사업을 중심으로-)

  • Koo, Bonsang;Shin, Byungjin;Yu, Youngsu;Jung, Jaewon
    • Korean Journal of Construction Engineering and Management
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    • v.18 no.4
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    • pp.57-66
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    • 2017
  • Using bidding data collected from the World Bank's open database, this research performed a series of competitive analyses of the major countries that have participated in the Bank's engineering consulting services contracts in Vietnam. The goal of the analysis was to evaluate the performance of Korean engineering firms to date, and provide strategic recommendations for future projects. Results showed that Korean firms had a high bid acceptance rate, comparable to major developed countries. The success was attributed to the high technical scores in the selection process. Comparatively, financial scores were not competitive and inferior to developing countries such as China and India. Results of a 'Skitmore' analysis revealed that Korea was competitive in medium size projects and were situated between developed and developing countries. Korea thus needs to increase participation in basic and detailed design services, 2) improve labor costs through 'localization' and latest technologies, and 3) and venture into larger sized projects.

The Activation Plan of Resource Circulation of Copper through Analysis of Waste Resources Circulation Flow (동의 폐자원흐름분석을 통한 자원순환 활성화 방안)

  • Lee, Hi Sun;Woo, Jeong-Hun;Lee, Jae-Chun
    • Resources Recycling
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    • v.23 no.2
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    • pp.26-36
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    • 2014
  • The materials flow of copper can be analyzed into up-stream and down-stream stages based on the literature survey. Discharge and recycling stages in the down-stream have been particularly analyzed through the field survey. The waste nickel resources circulation flow may conveniently be grouped into 4 stages discharge import, collection disuse, resource recovery and product production export, the resources mainly consist of copper scrap and stainless steel scrap in 2010. The resource circulation rate of 36.83% is obtained from the above flow. Various plans are therefore, suggested in each stage to increase resource circulation rate. At discharge import stage, it is suggested to consider this kind of waste as an important resources if it is appropriately classified in detail, basides applying quota tariff to this kind of waste. At collection disuse stage, the plan of stabilizing supply and demand is suggested through the improvement of bidding system. Resources professional cycling stage crushing and grinding companies foster coexistence between large and small plans and strategies were suggested. At product production export stage, the integrated approval is suggested approval for licensing to register units as waste-treating facilities instead of exempting registration under the present condition to activate recycling industries.

Resource Circulation Plan using Material Flow Analysis of Waste Metals of Cobalt and Palladium (코발트와 팔라듐 폐금속자원의 흐름분석을 통한 자원순환 활성화 방안)

  • Lee, Hi Sun;Lee, Jeongmin;Yi, Sora
    • Resources Recycling
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    • v.27 no.1
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    • pp.14-21
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    • 2018
  • The rapid increase in the consumption of products that contain rare metals has highlighted the importance of recycling and recovering resources from these products when they enter the waste stream. Among various metal resources that can be recovered, this study analyzes the waste streams of cobalt and palladium to determine how their waste resource circulation can be improved at each stage of the waste stream. The findings of this study point to improvements and strategies that can be made at individual stages. First, at the discharge/import stage, the implementation of tariff quotas for specific recycled metal resources is suggested to allow the systemic categorization of waste metals as resources. At the collection/discarding stage, a major problem is the instability in the supply of scrap metals, which may be better managed by changing the bidding process for the scrap metals. At the pretreatment stage, possible areas for improvement are uncovered concerning technical areas, such as technological development and improving the efficiency of material recycling, as well as policy-wise, for instance, expanding the regulation for manufacturers to produce products that are designed to facilitate resource recovery, increasing incentive for closed recycling, and refining the guidelines and standards for recycling. At the resource recovery stage, as the waste metal recycling industry consists of businesses that vary in size, policies to promote cooperation and coexistence between large and smaller enterprises will benefit the industry in the long-run. Lastly, at the product production/export stage, a tariff on exporting waste resources that contain cobalt and palladium will help control the amount of waste metals that are shipped abroad.

Introducing Contract-out in the Policing Service : Focusing on Policing segregated System (치안서비스의 민간위탁 도입에 관한 연구 : 치안분업모델을 중심으로)

  • Choe, Jung-Taek
    • Korean Security Journal
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    • no.12
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    • pp.309-333
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    • 2006
  • These days, the majority of public service area presents increment of utilizing a contracting-out with the following reasons such as cost-efficiency, maintenance of population changes in flexible manner, and convenience of management. The social changes have influence on policing structure and regional security system as well as problems associated with accepting the contracting-out in the public policing sector. However, many issues such as limited contracting-out sector, difficulty of encouragement of participation to private sector, and limitation of making a contract with contracting-out would be brought up when initiate contracting-out to the public policing sector. Changing security system to lower budget, planning restructure of organization, developing alterable partial contracting-out, establishing private and public cooperate system and rationalizing contract system are the suggestions to solve and modify the raising problems. This study suggests a differentiate regulation of policing services compare to currently existing contracting-out method to consider a distinctive working environment. The suggestions are as follows: 1. develop a security segregate model, 2. build a cooperative system between private and public policing sector, 3. broaden opportunity of participation of private policing sector, 4. open-competition among qualified private tender to make a contract. The private contracting-out in the public security service sector should be manage in different manner compare to other private contracting-out in government-oriented public service sector. Since work performance of each private contracting-out agency is strongly bond to safety of every civilian in the nation, it is essential to increase its standard of qualification of each agency.

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A study on determining of proper retail rents in commercial area (적정의 상가 임대료 결정에 관한 연구)

  • Jeong, Seung-Young;Kim, Hak-Hawn
    • Journal of Cadastre & Land InformatiX
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    • v.44 no.2
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    • pp.177-192
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    • 2014
  • The factors that affect on the ratio of monthly rent to total rents in commercial real estate lease contract was empirically investigated. The theoretical basis for the research was location theory, retail trade-area analysis, bid rent, agglomeration theory, and demand externality theory. The data used in this study included information on goodwills per 3.3 square meters, deposit money per 3.3 square meters, retail rents per 3.3 square meters, and passing pedestrians' characteristics in 96 retail trade areas in South korea. As the results, using the hedonic price functions and multi-regression analysis, the independent variables does affect the ratio of monthly rent to total rents in the each retail trade area were goodwills per 3.3 square meters, deposit money per 3.3 square meters, retail rents per 3.3 square meters, and the number of Small Wholesale Retail Trade Firms at the level of nation. also, the results show goodwills per 3.3 square meters and the number of Small Wholesale Retail Trade Firms are important factors in determining the ratio of monthly rent to total rents in commercial real estate lease contract in seoul. In summary, not only the economic conditions in the retail trade area but also the passing pedestrian count should be considered to determine the ratio of monthly rent to total rents in commercial real estate lease contract.