• Proceedings of the Korean Institute Of Construction Engineering and Management
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• 2006.11a
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• pp.310-316
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• 2006

Since 'Act on Private Participation in Infrastructure' were changed in January 2005, BTL(Build-Transfer-Lease) projects of Private Participation in Infrastructure was introduced in the domestic construction market for the purpose of providing public facilities with the public. Selecting the most qualified Promoter should be considered discreetly in BTL projects because BTL projects is for projects with approximately thirty year project life cycle, plan, construction, operating, maintenance and obviously the success of the project totally depends on the capability and role of Promoter. However, score for cost is likely to influence selecting Promoter to take the project. Accordingly, low bid contract with too much competition could decrease the quality of the construction plan and operating plan. Thus, this study did preliminary research and documents on problems of evaluation criteria for selecting Promoter in BTL projects, and proposed improvement factors by doing questionnaire over specialists of each field.

• The Transactions of The Korean Institute of Electrical Engineers
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• v.57 no.7
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• pp.1157-1166
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• 2008

This paper presents a new approach for the evaluation of location marginal prices (LMPs) considering demand-side bidding (DSB) in a competitive electricity market. The stabilization of the electric power supply and demand balance is one of the major important activities in electric power industry. In this paper, we present an analytical method for calculation of LMPs considering DSB, which has opportunity to compete with generating units, as England & Wales Pool's DSB scheme[1]. Also, we propose a new approach that LMP considering DSB is divided into three components. The proposed approach can be used for the evaluation of demand-side bidding into the electricity market and the assessment of the influence of DSB on total production costs and LMPs as well as three components.

• Proceedings of the KSR Conference
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• 2001.05a
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• pp.24-29
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• 2001

Despite of the introduction some sorts of the contract and the bid method like CM(Construction management) that will be efficient to manage the construction project. Korean agencies limit to control project management to do large public constructions. In the case of Taiwan, THSRC is apply J/V system in the public construction project, they are accomplishing that expend optimal the cost and save the construction time. To success J/V it has two factors, one is risk management and another is sharing information of construction project. Therefore, we will study to introduce J/V system to our construction project.

• The Transactions of the Korean Institute of Electrical Engineers A
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• v.51 no.7
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• pp.311-316
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• 2002

It has been a basic model for the present electric power industry that more than two generators compete, and thereby the market clearing price and the generation schedules are determined through the bid process. In order for this paradigm to be applicable to real electric power systems and markets, it is necessary to reflect many physical and economic constraints related to frequency and transmission in the dispatching schedule. The paper presents an approach to deriving a Nash bargaining solution in a competitive electricity market where multiple generators are playing with the system operator who mitigates the transmission congestion to minimize the total transaction cost. In this study, we take the effect of the line flows and the role of system operator into the Game. Finally, a case study has been demonstrated to verify the proposed cooperative game.

• Journal of the Korean Society for Railway
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• v.7 no.3
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• pp.215-222
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• 2004

Optimal route selection of railway should take consideration of the function of the railway, topography, practicability of construction and management as well as the cost. This study performed the surveys for experts and surrounding industries and the review for the bid guidelines in order to develop the quality model with the AHP method and establish the weight for each factor. Six quality models were developed for such as the efficiency of railway operation, structure design and practicability, economic feasibility, correspondence with other plans, civil appeal and environmental sustainability, and correspondence with system. The detailed evaluation elements were also derived by each factors.

• Proceedings of the Korean Institute of Building Construction Conference
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• 2017.11a
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• pp.189-190
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• 2017

As buildings take on more advanced features, mechanical facilities of buildings are accounting for increasingly greater significance in building construction projects. However, mechanical facility designers are forced to be content with design service fees that do not properly compensate their excessive workload, with lowest-bid-first tendering practices compounding their economic woes. In relation to this, this Study aims to offer suggestions for better standards for compensation of design service for mechanical facilities of buildings, highlighting five key suggestions in consideration of relatively small size of work and unmatched long duration of work.

• International conference on construction engineering and project management
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• 2005.10a
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• pp.699-704
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• 2005

Normally, monetary penalties for breach of agreement will be stipulated in the contract. The contractor parties, who fail to fulfill the agreement, are required to pay the other parties a certain amount or proportion of money as a fine. However, it is worth our study - whether or not the scope of monetary penalty implementation and bases for determination of a fine will cover the losses of social and administrative costs incurred by the interruption of the contract. This research is about the best timing for government to cancel the freeway repair work contracts. Under the goal of the maximum social welfare, the limitation of government spending for the social and administrative costs invoked by interruption of contracts will have to be considered to attain the best timing of contracts' suspension or deferment. According to the factors of social and administrative costs, the best time point is calculated to reduce the loss of the aforesaid costs, which can also be used as theoretical basis for the future road-widening construction at home.

• Proceedings of the Korean Institute of Building Construction Conference
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• 2021.11a
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• pp.250-251
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• 2021

A subcontract work order is the basis of the construction process and consists of the root and trunk of the construction industry. The construction process through a subcontract work order is an important element of project success, and it is the basic unit of creating profit in the construction industry. Therefore, correct analysis and forecasting of subcontract work orders allow correct estimation of construction cost and profit which is the foundation of corporate decision making. This study has started to provide predictions of subcontractor's bidding-ratio for decision-making. Since the actual project data has been used in this study, the contribution level of the model is highly expected in actual field. The statistical confidential level of adjusted decision coefficient is concluded low because of limited sample numbers. However, its accuracy and confidence level can be increased through increasing sample numbers, considering more variables, and studying of reducing error.

• Proceedings of the Korean Institute of Building Construction Conference
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• 2007.11a
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• pp.109-113
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• 2007

This paper introduces a system, Simulation based Stochastic Markup Estimation System (S2ME), for estimating optimum markup for a project. The system was designed and implemented to better represent the real world system involved in construction bidding. The findings obtained from the analysis of existing assumptions used in the previous quantitative markup estimation methods were incorporated to improve the accuracy and predictability of the S2ME. The existing methods has four categories of assumption as follows; (1) The number of competitors and who is the competitors are known, (2) A typical competitor, who is fictitious, is assumed for easy computation, (3) the ratio of bid price against cost estimate (B/C) is assumed to follow normal distribution, (4) The deterministic output obtained from the probabilistic equation of existing models is assumed to be acceptable. However, these assumptions compromise the accuracy of prediction. In practice, the bidding patterns of the bidders are randomized in competitive bidding. To complement the lack of accuracy contributed by these assumptions, bidding project was randomly selected from the pool of bidding database in the simulation experiment. The probability to win the bid in the competitive bidding was computed using the profile of the competitors appeared in the selected bidding project record. The expected profit and probability to win the bid was calculated by selecting a bidding record randomly in an iteration of the simulation experiment under the assumption that the bidding pattern retained in historical bidding DB manifest revival. The existing computation, which is handled by means of deterministic procedure, were converted into stochastic model using simulation modeling and analysis technique as follows; (1) estimating the probability distribution functions of competitors' B/C which were obtained from historical bidding DB, (2) analyzing the sensitivity against the increment of markup using normal distribution and actual probability distribution estimated by distribution fitting, (3) estimating the maximum expected profit and optimum markup range. In the case study, the best fitted probability distribution function was estimated using the historical bidding DB retaining the competitors' bidding behavior so that the reliability was improved by estimating the output obtained from simulation experiment.

• The Journal of Korean Institute of Communications and Information Sciences
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• v.40 no.9
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• pp.1802-1807
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• 2015

The cloud computing service provides physical IT resources to VM instances to users using virtual technique and the users pay cost of VM instances to service provider. The auction model based on cloud computing provides available resources of service provider to users through auction mechanism. The users bid spot instances to process their a job until its deadline time. If the bidding price of users is higher than the spot price, the user will be provided the spot instances by service provider. In this paper, we propose a new bidding strategy to minimize the total cost for job completion. Typically, the users propose bidding price as high as possible to get the spot instances and the spot price get high. we lower the spot price using proposed strategy and minimize the total cost for job completion. To evaluate the performance of our strategy, we compare the spot price and the total cost for job completion with real workload data.