• Korean Journal of Construction Engineering and Management
• /
• v.18 no.3
• /
• pp.105-116
• /
• 2017

In recent years, large Korean construction companies have suffered serious losses in their overseas business. Many practitioners and researchers have analyzed causes of cost overrun in these projects. However, these arguments have not been empirically verified based on acutal project cases. This study investigated cost overrun rate, contingency, allowance, predicted risk before bidding, and actual and residual risk after award in the 67 international infrastructure projects conducted by 13 large construction companies. The causes of cost overruns are derived as follows. First, they identified the possibility of cost overrun to some extent before the bidding, but did not reflect the enough risk money to bid price. In particular, this behavior was more severe in badly cost-overrun projects. Second, the causes of cost overrun were more influenced by external environmental risk than internal capability risk. However, the internal risk in badly cost-overrun projects was relatively high compared to cost-underrun projects. Third, badly cost-overrun projects failed to mitigate risk. However, cost underrun projects were affected more by low exterior risk conditions than by well mitigated risk. This study provides more informed knowledge in controlling project costs in international infrastructure projects.

• Electric Engineers Magazine
• /
• s.337
• /
• pp.12-15
• /
• 2010

대한민국 해외 건설 역사상 최대 규모($10억 달러)의 건축 프로젝트인 마리나 베이 샌즈 호텔은 그 규모 만큼이다 놀라운 기술력을 선보이고 있습니다.

• 월간 기계설비
• /
• s.231
• /
• pp.44-54
• /
• 2009

해외 플랜트 수주액은 지난 2005년 158억달러를 시작으로 지난해 462억까지 최근 몇년간 고성장을 해왔으나 전세계 경제침체 및 국제자금시장의 위축 등으로 하락세로 돌아섰다. 이는 유가 하락에 따른 주요 발주국의 재정 악화, 원자재 가격하락을 활용해 입찰단가를 낮추기 위한 입찰 연기 및 취소 등에 따른 것으로 풀이된다. 전체의 46%를 차지한 중동이 34억달러로 전년보다 54% 감소했고, 아시아, 아프리카 등이 전체 평균을 밑돈 반면 유럽과 미주 지역의 감속폭이 컸다. 그러나 올 하반기에는 글로벌 금융위기의 진정 등 제반 환경 개선으로 얀부 정유프로젝트, 로열더치셸 해양프로젝트 등 그동안 연기됐던 대형 프로젝트 발주가 재개될 것으로 전망됐다. 본지는 해외플랜트 시장을 알아보고 앞으로 회원사들이 해외플랜트 진출 시 고려해야 할 점 등을 알아본다.

• Korean Journal of Construction Engineering and Management
• /
• v.22 no.1
• /
• pp.13-26
• /
• 2021

To promote the off-site construction (OSC) in Korea, technical innovation applied to each phase, such as design, engineering, factory production, and site assembly, is important and equally necessary is the development of management and operation methods that are different from existing construction production methods. However, the current OSC-related studies in Korea are conducted from the technical development viewpoints, such as construction methods. Additionally, few studies have been conducted to derive a management measure for successful OSC projects. Therefore, studies to derive a management measure based on a clear understanding of the core success factors of OSC projects are required. This study aims to analyze several studies related to the success factors of OSC projects conducted overseas and to show its core implications for the successful management of OSC projects in Korea. We expect this study to improve the viability of OSC projects, which will be expanded in Korea in the future.

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

• Korean Journal of Construction Engineering and Management
• /
• v.18 no.6
• /
• pp.65-77
• /
• 2017

Recently, many Korean major construction companies are suffering from profit loss mainly due to a direct impact from delays in their overseas projects. In general, changes are inevitable in a large-scale project, and most of changes are directly linked to construction delay. Therefore, in the event that an extension of time is necessary due to a change, the contractor must manage the delay based on the condition of the contract to effectively manage risks from delay to the completion date. Thus it is important to understand delay protocol defined in the condition of the contract early in the project, but there have been few or no study to propose methodology or tool to support this effort. This paper presents a review on the project planning and controling practices of major Korean construction companies along with the issues on delay claims and disputes in mega-international projects and suggests a tool to assess delay risk in the condition of the contract. To propose a delay risk assessment model for international construction projects, major standard conditions of contract have been reviewed including FIDIC Red Book(1999), PSSCOC(2014) and SIA 9th Edition(2010). To reflect recent trend of major international owners, standard conditions which they are utilizing for their projects also have been reviewed including those of ARAMCO and QP. The model provides a categories of risks to be reviewed on the condition of the contract along with standard level of the risk which is common in the international standard form of the contracts. This study also performed a case study on an actual international project to confirm the effectiveness of proposed model to identify and respond to a delay risk of a project.

• Plant Journal
• /
• v.1 no.1
• /
• pp.7-16
• /
• 2005

• Korean Journal of Construction Engineering and Management
• /
• v.17 no.5
• /
• pp.89-96
• /
• 2016

Most data generated in construction projects is unstructured text data. Unstructured data analysis is very needed in order for effective analysis on large amounts of text-based documents, such as contracts, specifications, and RFI. This study analysed previously performed project's bid related documents (bidder inquiry) in overseas construction projects; as a results of the analysis frequent words in documents, association rules among the words, and various document topics were derived. This study suggests effective text analysis approach for massive documents with short time using text mining technique, and this approach is expected to extend the unstructured text data analysis in construction industry.

• Korean Journal of Construction Engineering and Management
• /
• v.6 no.1 s.23
• /
• pp.89-98
• /
• 2005

Recently the construction industry in Korea is facing problems such as low productivity, contraction of the domestic construction market, growing competition, and so on. To enhance the competitiveness continuously through efficiency in this business environments, construction companies need to make efforts to measure and accumulate performance data based on the strategic factors. When analysing performance of construction projects, the unique characteristics of each project should be considered properly, by which the managers can identify current status of project in various perspectives. This study proposes the performance analysis system using the concepts of balanced scorecard and data warehouse technology. The suggested system provides the management with the flexibility in analyzing performance data by applying the pre-defined key performance indicators and the function of multi-dimensional analysis.

• Electric Engineers Magazine
• /
• s.367
• /
• pp.56-57
• /
• 2013

감각적인 디자인을 덧입힌 LED기술, 국내 조명기구업계 1위 기업인 태원전기산업(이세용 대표)은 30년째 조명기구를 생산하고 있으며, 국내 외 유수의 건설사들과 프로젝트를 진행하여 국내의 기술인증은 물론이고 해외의 각 전시회 및 어워드에서도 우수한 평가를 받고 있으며, 이미 해외시장에서도 기술과 디자인 실력을 인정받아 주목받고 있다.