• Korean Journal of Construction Engineering and Management
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• v.11 no.2
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• pp.3-14
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• 2010

A high degree of management skills and functions is essential to the success of construction projects. While the various construction management delivery methods have been realized as the solutions, Korean government is planning to introduce 'CM at Risk Method' to the public construction projects. However, even if its effect has been verified successful in the international market, it must be considered before legally adapting the method that it would be suitable to our public sector, In this respect, the purpose of this study is to evaluate and analyze feasibility of 'CM at Risk Method'. In order to do that, 15 attributes of construction projects were found, which were suitable to 'CM at Risk Method' in general, 'CM at Risk-GMP Method', and 'CM at Risk-Cost Reimbursable Method' and suitability of each attribute to each of 9 categories of public construction facilities was evaluated by questionnaire survey to CM specialists. Results showed that 'CM at Risk Method' might not bring improper effect to the industry but due to the characteristic of public sector, the effect would be very limited.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• 2006.11a
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• pp.67-73
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• 2006

Alternative project delivery methods including design-build and CM at Risk have evolved as a means of meeting owner's diverse needs and implementing project efficiently with limited budget and time in more competitive construction environment. It is time to consider adopting alternative project delivery methods, especially CM at Risk, for domestic construction industry to enhance competitiveness and to provide various options for owners so that they can select more appropriate project delivery methods for the facility being planned. This research report derives suggestions from investigating how CM at Risk has been evolved in the US construction market. Besides the analysis of CM at Risk market in the US construction industry, the characteristics of companies whose market share are in Top 100, the type of facility usually built by this method were investigated. Based on the analysis of CM at Risk in the US, the prepositions in adopting CM at Risk to domestic construction industry and the possibility of adopting this method have been identified.

• Korean Journal of Construction Engineering and Management
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• v.19 no.3
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• pp.61-69
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• 2018

The buildings are getting enormous and more complex as well as the requirement of the owner which wants diverse and efficient. Moreover advanced management is necessary for construction services and a new method of delivering project is now required. In order to expand the delivering method and the construction industry, we have to introduced the CM at Risk method. However, despite the fact that six years have passed already the CM at Risk regulation was introduced, the contract amount in significantly lower than that of the CM for fee, and also there is no CM at Risk project in the public sector. As a result, three pilot projects are currently underway for the LH(Korea Land & Housing Corporation) in order to set up a CM at Risk for the public sector. However, detailed regulations related to CM at Risk have not yet been implemented in Korea. Therefore, in this study, I am trying to understand the risks that could incur when practitioners participate in the three pilot projects that are currently underway and employed in the public sector wherein the CM at Risk is normally introduced. Based on the results of this study, It will be able to utilize as a basic data for future CM at Risk delivery system improvement and enactment.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• 2008.11a
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• pp.449-454
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• 2008

The purpose of this study is to analyze, applications of the construction management delivery systems according to characteristics of facilities. The adapted research method is to selected four mall in the capital region and then divided them into two groups: CM for Fee or CM at Risk. After analyze each applications and administrations, it could propose proper applications of CM for fee according to CM at Risk. The results of this study are as follows: 1) the CM for Fee was suitable for the projects focused on completing on time and constructing the effective business plan of quality control, and 2) the CM at Risk was suitable for the projects concentrated on the cost reduction through shorten the construction time and the related businesses on quality control.

• Korean Journal of Construction Engineering and Management
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• v.20 no.3
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• pp.22-30
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• 2019

The purpose of this study is to derive basic data of the Guaranteed Maximum Price(GMP) process and to present specimens that can be used at the time of execution of CM at Risk project in South Korea. CM at Risk project is issued in South Korea, but the actual data is lack. On the other hand, CM at Risk project is universalized and the market of the CM at Risk is steadily growing. Because of that, in this study, The United States cases was selected as a sample. GMP consists of CM's fee, CM contingency, project direct cost, project indirect cost, allowance. GMP negotiations are performed before the end of design completion, and after 3 rounds of estimation comparison, preliminary GMP is confirmed. GMP can be multiple contract and it is useful for Procurement of long lead materials and early construction. If the actual cost is lower than expected GMP, sharing of the saving is an option since the conflict of interests between the client and the contractor can occur.

• Korean Journal of Construction Engineering and Management
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• v.17 no.2
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• pp.3-11
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• 2016

CM at Risk has been introduced in Korea to keep up with the global standards of construction management and provide a higher quality of cm service in line with a rapid change of the construction industry recently. However, it is widely considered that more time would required to settle down the system due to a lack of understanding towards CM at Risk, shortage of reliability and low capability to manage and undertake CM at Risk. Therefore, this research is analyzed problems of contract types, open book policies, and contract conditions of 33 numbers of projects undertaken by a bespoke domestic construction management firm in this research. Moreover, this research is suggested a method to establish an open book policy of CM at Risk aiming a better customers satisfaction through staff training, simplifying and improving a payment system, and a way to settle down an open book policy by improving a performance management system on site. It's expected that this research will contribute to a more competitive system with more dominating the market and a differentiation of the service so as clients to rely more on the CM at Risk.

• Korean Journal of Construction Engineering and Management
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• v.10 no.5
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• pp.85-94
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• 2009

For the purpose of analysing the capability (knowledge, experience, and ability) of CM at Risk in the major construction company in korea, this study performed questionnaire survey with experts in the companies. Based on the analysis of the survey, the study was found as follows. 1) It is needed to increase the capability of preconstruction services, such as project management plan/manual, contract documents, value engineering, alternative analysis, time management, and claim. 2) Despite of gap of the capability between the present and the future CM services, the study concluded that the capability is sufficient to perform CM at Risk project in the major construction company.

• Journal of the Korea Institute of Building Construction
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• v.18 no.3
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• pp.295-303
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• 2018

In the DBB delivery system, the design stage and the construction stage are separated. Because of this, design changes frequently occur, and problems such as construction cost overrun, schedule delay, and quality deterioration happen as well. Recently, in the construction industry CM at Risk(CM@R) delivery system, which can systematically solve the above-mentioned problems of DBB delivery system, meet various demands of clients, and overcome the limited cost and period. In the CM@R delivery system, the contractor negotiates for a maximum guaranteed price(GMP) with the client at the design stage, and the CM performer carries out the construction within the GMP. However, uncertainties are inherent in the GMP calculation because the calculation is based on unfinished drawings and documents. In this study, a Probabilistic Earlier GMP Calculation Method by combining a probabilistic tool of Monte Carlo simulation with a case based reasoning is proposed so that the uncertainty in GMP calculation is reflected. After the earlier GMP is calculated, a process to calculate the $2^{nd}$ GMP at the time of around 80 % of detailed deign and to negotiate with the client to fix the final GMP is proposed. The Probabilistic Earlier GMP Calculation Method is verified through the case study. In this study, researchers set the range of GMP through the proposed probabilistic GMP calculation and tried to reduce the risk through negotiation between the client and the CM performer. The proposed method and process would contribute to the successful introduction of CM@R in Korea.

• Construction Engineering and Management
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• v.14 no.4
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• pp.69-72
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• 2013

• Proceedings of the Korean Institute of Building Construction Conference
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• 2009.05b
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• pp.5-8
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• 2009

This paper investigated the qualitative introduction status of domestic major construction company. And that focused on a point of suggestions about CM at Risk introduction. The survey analysis showed that three importan suggestions. First, the biggest obstacles factors to CM at Risk introduction that related laws is lagging amendment. Second, we have to improve the available hands ability in domestic major construction company. And last, we have to do that using uncomplicated design and standard design form. Consequently, environmen analysis for the introduction and example project is urgently required.