• Proceedings of the Korean Institute Of Construction Engineering and Management
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• 2006.11a
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• pp.289-294
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• 2006

Residential buildings industry hold lots of portions in Korean construction. Accurate cost index for Residential buildings is required to understand trends of prices of the constructions and to manage budget for them effectively. So Korea Institute of Construction Technology has issued a cost index for residential buildings every six months. However It hasn't been improved although It can't reflect the actual circumstance. So we are supposed to make a new cost index for residential buildings based on statistical data extracted from bills of quantity at three different projects.

• Korean Journal of Construction Engineering and Management
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• v.8 no.2
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• pp.173-181
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• 2007

The purpose of this study is to estimate elemental costs of an apartment building. The adapted research method includes a case study from $^{\circ}{\AE}H^{\circ}{\phi}$ construction company. The results of this study are as follows: 1) An elemental cost format of an apartment building is proposed, 2) An elemental cost table based on a case study of $^{\circ}{\AE}H^{\circ}{\phi}$ construction company is suggested.

• Proceedings of the Korean Institute of Building Construction Conference
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• 2019.05a
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• pp.226-227
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• 2019

The basic type construction cost which is the base of the building cost estimation is being adjusted according to the price changes by utilizing the apartment construction cost index in order to flexibly operate it. In this study, we analyzed the change trends and characteristics of the housing cost index for the basic type building cost model project operated from September, 2012 to March, 2018. As a result, the increase in material costs is slight while the share of the labor cost increased in the construction cost due to the rise of labor unit price, leading to a perceived increase in sensitivity of labor costs. We should be careful to keep the sensitivity of the material cost and the labor cost to an appropriate level so that the index may not be distorted.

• Korean Journal of Construction Engineering and Management
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• v.4 no.4 s.16
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• pp.220-226
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• 2003

The Residential Building Cost Index which presents price variation of construction resources required in a residential building project in single value, has been compiled to evaluate appropriate level of the price variation. This research reviewed the compilation methodology for Residential Building Cost Index based on comparative analysis on domestic statistics and proposed the Residential Building Cost Index through a variety of case studies. It would facilitate monitoring the price variation of a residential building cost and contributes to enhancing the applicability of construction cost data.

• Korean Journal of Construction Engineering and Management
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• v.7 no.5
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• pp.77-84
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• 2006

Indexes have played an important role as a economic indicator or performance indicator in many industries for a long time. In construction industry, indexes, or Construction Cost Index(CCI), have been used to compensate for the gap of time in Estimate Using the Historical Cost Data from Feb. 2004. CCI is composed of index formula and resources. Existing literatures had used Laspyeres Index as a index formula. And, Leontief table, the bills of quantities, and information of price surveyor were used as a resource. When applying Laspyeres formula and the resources to calculating the CCI, the problems such as double application of price fluctuation, calculating the incorrect weights, may be generated. This paper analyzed the existing economic relevant indexes as well as Laspyeres formula. Thus, feasibility of them was analyzed using three practical cases of apartments. And then, Quantity based Base Period Price Index(QBPPI) was developed to consider the characteristics of construction more accurately.

• Proceedings of the Korean Institute of Building Construction Conference
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• 2012.11a
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• pp.111-112
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• 2012

Korean government is planning to supply a half million public and permanent rental houses from 2013 to 2018 for settlement of non-homeowners. It is requested an objective criterion to appropriate the budget for the rental houses construction project cost. In this study, construction cost indices, which reflect the inflation trend of construction resources, were explorated to suggest a effective methodology for the construction cost estimation of therental houses. We figured out the future construction cost indices using several scientific methods, and seven estimated indices values were shown. It is required an additional research to select the proper value among the analyzed indices.

• Korean Journal of Construction Engineering and Management
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• v.13 no.1
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• pp.67-76
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• 2012

There are index adjustment method and item adjustment method in estimation methods for price fluctuation rate of public constructions. A relevant regulation has put item adjustment method as a principle, but in most construction, contract sum adjustment has been made by index adjustment method. Hence, this study, by figuring out width and causes of the gap between index adjustment method and item adjustment method through direct comparative analysis, solved inequality caused by difference between them and suggested a rational way against irrationality of each method. For building operations of public housing construction, a detailed fluctuation rate by index adjustment method and item adjustment method of construction cost elements of the same construction, that is, direct material cost, direct labor cost and historical construction cost was estimated to analyze difference between two adjustments and establish its cause. Across the analysis, it was found that fluctuation rate by item adjustment method was estimated lower than that by index adjustment method and difference between methods for estimating fluctuation rate of quotation unit price and application of index unrelated to construction type and construction nature are main causes of the difference. This study has a significance in that, for smooth contract sum adjustment between contracting parties, it practically proved the real difference between adjustment methods by conducting comparative analysis of the difference in direct correspondence way.

• Journal of the Korea Institute of Building Construction
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• v.10 no.2
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• pp.75-80
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• 2010

With the intensifying of price competition and structural diversifications, the uncertainty of the domestic housing market has been increased. This highlights the importance of the planning stage of construction projects, and the increased need for a higher level of accuracy in approximate estimates. Currently, a number of research and development programs to calculate construction cost at the initial planning stage are being conducted. However, there are few cases in which local characteristics are considered in deriving the results. If local calibration can be conducted during estimates, more accurate cost estimates will be enabled. This could also play a major role in ensuring the success of a project. Therefore, the purpose of this research is to develop a calculation methodology and a model for a local index based on the historical data of public apartment buildings, and to derive a local index that supports accurate construction cost estimates.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• 2006.11a
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• pp.274-277
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• 2006

The EAC(Estimate at Completion) among existing methods, which estimate cost and time effectively, help managers anticipate changeable several results at the point of $15{\sim}30%$ in the project progress. However, this method may cause such some problems as not to consider the periodically changing circumstances caused by construction risks or uncertainties which can affect the cost and time in the project, and to regard collected and accumulated data only as a single value when predicting the results on the progress. Accordingly, it is very difficult to accept the even small range of variability based on the anticipation of EAC. Consequently, the study focuses on the possibility methodology to anticipate time and cost accurately on the way to utilize EVMS(Earned Value Management System), and also suggest the way to perform the right estimation of EAC as considering various risks and uncertainties in construction projects.

• Land and Housing Review
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• v.5 no.4
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• pp.297-303
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• 2014

Recently, block and permeable pavements have been placed in apartment complex. However. it is hard to decide the cycle of maintenance and repair due to lack of performance evaluation criteria for these pavements. This study carried out life cycle cost analysis(LCCA) to present resonable alternatives of the pavements by considering initial construction cost, maintenance and repair cost along with the cycle of repair. According to results of LCCA, the interlocking concrete block pavement is the best alternative when the repair cycle of 20years is assumed, while asphalt concrete pavement is the best alterative when the repair cycle of 10years is assumed. Therefore, the repair cycle is most important factor to select alternative. Also, it is necessary to develop resonable performance evaluation index to quantify the cycle of maintenance and repair in the future.