• Title/Summary/Keyword: Actual Cost Data

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Cost Estimation for the Marine Engine's Factory using Association Rule (데이터마이닝을 이용한 선박용 엔진 공장의 견적지원 방안)

  • Oh, Kyung-Mo;Park, Chang-Kwon
    • IE interfaces
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    • v.19 no.4
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    • pp.342-354
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    • 2006
  • The purpose of this thesis is to develop the schemes of supporting estimate for marine engines’ factories which are in a general make-to-order style. The marine engines’ factories currently use the method which depends on the past data and experiences handled by the responsible person, which causes inefficiency and inaccuracy in dealing with a huge amount of data. We apply association rule to solving the problems mentioned above. Critical data for analysis is filtered among materials that have been using actual records of performance so far. Secondly, relation with each part of marine engines through filtered data so that the company can estimate cost promptly and precisely if customers with similar components as requested. By proposed method of study estimate support efficient and supported exactly.

Construction of Time - Cost Model for Building Projects in Vietnam

  • Long, Le-Hoai;Lee, Young-Dai;Cho, Jeong-Wook
    • Korean Journal of Construction Engineering and Management
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    • v.10 no.3
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    • pp.130-138
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    • 2009
  • Bromilow's time-cost (BTC) relationship was examined for building projects in Vietnam using actual construction time and total construction cost. Data set was collected from 77 historical building construction projects completed between 1999 and 2005 which were adjusted by consumer price index (CPI) to 2000 price. Time-cost equations were specified respected to two sectors, public and private, in Vietnamese construction industry and all cases. It is shown that a public funded building project has the longer construction duration than a similar budget private funded project. The resulting models are statistically significant. The adjusted R-square coefficients of all cases, public and private projects models are respectively 0.403, 0.436 and 0.377 mean that the BTC regression lines moderately fit the data set.

DERIVING ACCURATE COST CONTINGENCY ESTIMATE FOR MULTIPLE PROJECT MANAGEMENT

  • Jin-Lee Kim ;Ok-Kyue Kim
    • International conference on construction engineering and project management
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    • 2005.10a
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    • pp.935-940
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    • 2005
  • This paper presents the results of a statistical analysis using historical data of cost contingency. As a result, a model that predicts and estimates an accurate cost contingency value using the least squares estimation method was developed. Data such as original contract amounts, estimated contingency amounts set by maximum funding limits, and actual contingency amounts, were collected and used for model development. The more effective prediction model was selected from the two developed models based on its prediction capability. The model would help guide project managers making financial decisions when the determination of the cost contingency amounts for multiple projects is necessary.

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Time and Cost Analysis for Highway Road Construction Project Using Artificial Neural Networks

  • Naik, M. Gopal;Radhika, V. Shiva Bala
    • Journal of Construction Engineering and Project Management
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    • v.5 no.1
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    • pp.26-31
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    • 2015
  • Success of the construction companies is based on the successful completion of projects within the agreed cost and time limits. Artificial neural networks (ANN) have recently attracted much attention because of their ability to solve the qualitative and quantitative problems faced in the construction industry. For the estimation of cost and duration different ANN models were developed. The database consists of data collected from completed projects. The same data is normalised and used as inputs and targets for developing ANN models. The models are trained, tested and validated using MATLAB R2013a Software. The results obtained are the ANN predicted outputs which are compared with the actual data, from which deviation is calculated. For this purpose, two successfully completed highway road projects are considered. The Nftool (Neural network fitting tool) and Nntool (Neural network/ Data Manager) approaches are used in this study. Using Nftool with trainlm as training function and Nntool with trainbr as the training function, both the Projects A and B have been carried out. Statistical analysis is carried out for the developed models. The application of neural networks when forming a preliminary estimate, would reduce the time and cost of data processing. It helps the contractor to take the decision much easier.

A Study on the Cost Analysis for the Container Terminal Services based on ABC Approach

  • Ryu, Dong-Ha;Ahn, Ki-Myung;Yoon, Yeo-Sang
    • Journal of Navigation and Port Research
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    • v.35 no.7
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    • pp.589-596
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    • 2011
  • Terminal market has rapidly crashed and market rates have taken a sharp plunge. The substantial throughput decrease resulted from the world economic downturn has been a finishing blow to the terminal operators in Busan. Every terminal operator is taking cost saving as its first priority and accelerating structural reform and downsizing. Under the desperate situation, the need of effective cost analysis would be highly required to effectively control operation cost and to develop new services to satisfy the different needs of the customers. Furthermore, terminal operators could reduce unnecessary activities and concentrate their resource on the more cost-effective process through the operation cost analysis. In order to suggest a new framework of the cost control of container terminals, this paper seeks to analyze terminal costs based on ABC approach by processing actual data.

Study on Out-of-pocket Money among Medical Expenses of an Oriental Medical University Hospital (한방의료의 본인부담금 연구)

  • Shin Sang-Moon;Kang Sung-Wook
    • Journal of Society of Preventive Korean Medicine
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    • v.3 no.1
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    • pp.67-82
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    • 1999
  • This study was performed to investigate out-of-pocket money among medical expenses of an oriental medical university hospital by the use of internal data of an oriental hospital because medical insurance program data could not show us insuree's out-of-pocket money among medical expenses. The purpose of this study was to analyze out-of-pocket money among medical expenses of ambulatory and hospitalized patients. Under this purpose, We analyzed actual medical expenses data of 1389 out-patients and 858 in-patients of the oriental medical university hospital with 90 beds that could be approach to internal data from July 1, 1998 to March 31, 1999. The major findings are as follows : 1. In ambulatory patients, the cost share ratio of insuree & that of insurer was 90 : 10 respectly. 2. In hospitalized patients, the cost share ratio of insuree & that of insurer was 72 : 28 respectly.

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Comparison of Cost Performance for Delivery Methods on Public Construction Projects (공공 건설공사 발주방식에 따른 비용성과 비교연구)

  • Lee, Yoo Sub;Kang, Tai Kyung;Shin, Eun Young;Park, Wonyoung
    • KSCE Journal of Civil and Environmental Engineering Research
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    • v.33 no.6
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    • pp.2575-2582
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    • 2013
  • In the delivery systems for public construction works, design-build methods such as turn-key and alternative have contributed to improving the quality of structures and developing the construction technology. However, it is pointed out that construction based on a design-build method is likely to waste a budget due to its higher contract price than construction based on a design-bid-build method. Other issues such as contract monopoly, bid rigging and deliberation irregularity in design-build. Since there are not much works have been accomplished to comparatively analyze the actual performance and effect based on delivery methods, discussing and judging the performance and effect of each deliver method with limited information could lead to an error. Thus, this study by extensively investigates the actual project cost data, ranging from contract price to the construction cost of the public construction works and comparatively analyzed the characteristics of each delivery method about cost structure and fluctuation trend. This work is expected to assist stake-holders in properly understanding delivery systems for public construction works and promoting their efficient management.

A Study on the Distribution of the Asbestos Cement Slates and Calculation of Disposal Cost in the Rural Area

  • Kim, Young-Chan;Son, Byeung-Hun;Park, Wha-Me;Hong, Won-Hwa
    • Architectural research
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    • v.13 no.2
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    • pp.31-40
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    • 2011
  • Asbestos have been used around the world by physical and chemical characteristics that are a reliable and cost-effective. But asbestos, once called the miracle of mineral, is now a quiet time bomb. Asbestos hazards have been studied and the government has pursued 'Comprehensive Measures for Asbestos Management' jointly with related departments. As a part of plan, Ministry of Environment is to introduce legislation 'Asbestos Safety Management Act' through Environment Announcement No. 2010-108. The same Act. 24 shows as follows. Minister of Environment or governor should do survey on the actual condition targeting rural buildings with slates and partly or fully fund to dissolve, remove asbestos slate which was used in each building. However, the local survey was only conducted by each municipality regionally. And there is no actual condition data by area, application and year, and there was no data on disposal costs concerning asbestos slate buildings In this study, discharge of asbestos slate was calculated per unit area and formula was developed with regression analysis. In addition, Demolition, dismantling, disposal costs were computed via a phone survey to disposal companies and then this study proposed standards for this.

A Hybrid Approach to Information System Sizing and Selection using Simulation and Genetic Algorithm (시뮬레이션과 유전 알고리즘의 하이브리드 기법을 이용한 정보시스템 용량 산정 및 선택 방안)

  • Min, Jae-H.;Chang, Sung-Woo;Shin, Kyung-Shik
    • Korean Management Science Review
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    • v.24 no.2
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    • pp.143-155
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    • 2007
  • The purpose of this paper is to develop a new method for information system sizing and selection based on a hybrid mixture of simulation and genetic algorithm, and to show its cost-effectiveness by applying it to a real world problem. To serve this purpose, we propose an operational model which identifies a set of system alternatives using simulation, and determines the optimal one using genetic algorithm. Specifically, with simulation, we generate probability distributions describing real data gathered from actual system, which can overcome the major weakness of the existing methodology that normally employs point estimates of the actual data and constant correction factors without theoretical rationale. We next search for the optimal combination of H/W, the number of CPUs, and S/W, which meets both of our business goals of incurring low TCO(total cost of ownership) and maintaining a good level of transaction processing performance. Experimental result shows the proposed method in this paper saves the cost while it preserves the system's capacity within allowable performance range.

A Study on the Actual Construction Database Modeling and Application for Commercial Buildings (상업건축물의 공사칠적 데이터베이스(DB) 모델구축 밑 응용방안)

  • Kim Sun-Kuk;Lee Sung-Ho;Kim Tae-Hui;Joo Jin-Kyu
    • Korean Journal of Construction Engineering and Management
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    • v.3 no.1 s.9
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    • pp.83-90
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    • 2002
  • Actual construction data are unsystematically handled and uselessly hoarded after completion of the project although actual construction data can be applied to the various works of the future projects. Many researches have been carried out by several engineers and scholars of construction firms and research institutes, but the level of the application is not plausible yet. The objective of this paper is to propose a web-based data model and application system for commercial buildings in order to enhance the usability of the actual construction data on line. The principal factors of commercial building project data and the user$^{\circ}{\phi}s$ requirements in various areas, such as planning, design, procurement and construction and so on are analyzed to implement the database structure of the proposed system. The application of resource Information focused on cost, manpower, equipment is included in the system, which is expected to enhances the usability of actual database application system compared with other researches proposed so far.