• International conference on construction engineering and project management
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• 2007.03a
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• pp.30-40
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• 2007

The demand for light-rail construction projects has recently been increasing, and they are mostly supervised by private construction companies. Therefore, a private construction company that aim to raise gains from the operation of the facilities during the contract period greater than what they invested should b able to accurately calculate the costs from the aspect of Life Cycle Cost (LCC). In particular, a light-rail transit bridge that has a heavier portion from the aspect of the cost of light-rail transit construction requires a more accurate calculation method than the conventional LCC calculation method. For this, an LCC analysis model was developed and a cost breakdown structure was suggested based on literature review. The construction costs by shape of the upper part of a light-rail transit were calculated based on the cost breakdown system presented in this paper, and the cost generation cycle and cost unit price were collected and analyzed based on records on maintenance costs, rehabilitation and replacement. In addition, after forming some hypotheses in order to perform the LCC analysis, economic evaluation was conducted from the aspect of the LCC by using performance data by item.

• International Journal of Highway Engineering
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• v.19 no.5
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• pp.153-162
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• 2017

PURPOSES : This study was conducted to analyze the effects arising from extending the duration of nighttime road construction on improving road quality and durability. METHODS : Most previous studies estimating the social cost of various construction conditions did not consider road pavement cooling time as a factor in improving road pavement quality. This study investigated the feasibility of achieving higher road quality and durability by extending the duration of nighttime road construction time extension. For this investigation, the effects of such an extension on traffic conditions were analyzed based on micro-simulation studies and scenario-based cost-benefit analyses, using factors including traffic volume, delay, construction cost, and road pavement cooling time. RESULTS : The results of the traffic simulation studies and cost-benefit analyses indicate that the current road construction method that emphasizes completing nighttime road construction by 6 a.m. reduces pavement life while causing relatively little traffic delay. If the night construction time is instead extended to 2 p.m., road pavement lifetime is increased, reducing road re-construction cost. These savings are greater than the cost of congestion arising from extending the duration of nighttime construction. CONCLUSIONS : The current nighttime construction durations need to be extended in order to efficiently manage roads and reduce road management costs.

• International conference on construction engineering and project management
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• 2015.10a
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• pp.70-71
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• 2015

Cost management always being the matters for project manager as well as other entities involved the construction projects. Vietnam is emerging country, many construction works were carried out and lot of construction projects will be developed in the near future with a huge investment capital come from outside and inside Vietnam. In recent years, international project management firms enter the Vietnam construction market, some issues emerged need to be solved. In which cost and schedule of the construction project was put in a thoroughly consider of not only project management team but also stakeholders. The research attempts to identify and assess the relationship of factors affecting the construction cost in construction phase in Ho Chi Minh City, Vietnam. Five main factor groups Owners/clients; Consultants; Contractors; Resource and Other were identified to propose the solution for cost management.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• autumn
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• pp.265-270
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• 2002

Frequent design changes or unnecessary project executions due to illogical practice, lack of feasibility study and, hasty drive have raised problems of budget waste in Korean construction projects. Since the MOCT (Ministry of Construction & Transportation) published Master Plan for budget efficiency for government projects, there have been a lot of policy efforts for budget saving. However, it has been pointed out that cost management at the pre-construction phase, which greatly influences the cost still remains imperfect. The target cost for government clients is not being estimated reasonably, and cost controlling at the pre-construction phase is not yet being carried out properly for keeping the budget. Therefore, improved construction cost management at the pre-construction phase was proposed in this paper. The cost management systems of advanced countries were investigated for it, and the issues were drawn from the cost management systems of these countries. On the basis of the issues, the present conditions and problems of domestic construction cost management at the pre-construction phase were analyzed for suggestion.

• Journal of the Korea Institute of Building Construction
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• v.12 no.5
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• pp.528-538
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• 2012

With domestic construction projects becoming bigger, more specialized and more advanced, the construction industry is striving to improve quality and quantity, and is diversifying functions and shapes. Nevertheless, the process of a construction project causes problems when we estimate construction price, because the cost breakdown structures are different in each step. The primary aim of this study was to estimate building life cycle cost using the Delphi method. The cost breakdown structure for life cycle cost was classified into planning, design, construction, maintenance and waste disposal, and each detailed classification was determined by estimating life cycle cost. Moreover, the developed cost breakdown structure is verified by consulting with experts to secure objectivity and validity.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• autumn
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• pp.64-71
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• 2002

This research developed construction cost forecasting model using Building Construction Cost Index, time series analysis and Artificial Neural Networks. By this model, we could calculate the forecasted values of construction cost precisely and efficiently. And we also could find out that the standard deviation of forecasted values is 0.375 and it is a very exact result, so the standard deviation is just 0.33 percent of 112.28, the average of Building Construction Cost Index. And it show more exact forecasting result in comparison with Time Series Analysis.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• autumn
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• pp.419-422
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• 2002

The features of modem construction industry can be summarized as specialization, complexity, and large-scale. Therefore, increasing uncertainty of construction project can not be effectively dealt with traditional method used for construction cost management. Cost overrun affects on successful execution of managing construction project in a negative way. Therefore, accurate estimation is a priori for effective cost management. First, this work analyzes the previous cost estimation model for the effective cost management. Then, a standard structure required for developing the cost estimation model for site development was presented. In addition, the cost estimation model which can be used in planning and design phases was introduced by analyzing real site development projects.

• Proceedings of the Korean Institute of Building Construction Conference
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• 2016.05a
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• pp.235-236
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• 2016

The importance of construction management has been increasing due to the fact that complex construction projects blend several different industries depending on the traits of the construction. This research was conducted to search for a method to enhance efficiency in cost management of construction project and meet the need for reusability of accumulated construction information. The process of detailed estimation and methodology for using standard unit price information has been developed to strengthen the interoperability in cost information by utilizing a standard classification system. The concept of ontology is proposed as a method of connecting construction information based on a standard breakdown structure to increasing the connectivity of the cost information in the construction project. Therefore, construction information knowledge framework is developed in order to improve the efficiency of the detailed estimation work process.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• 2004.11a
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• pp.256-260
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• 2004

As a large portion of defence budget are alloted for military facility construction, reasonable budget estimation in the planning stage has been officers' main concerns. However the proper estimation of construction cost is difficult to be carried out due to the absence of systematic criteria. To improve the budget estimation for military facility construction, this study proposes a cost index model which can convert historical cost to current cost. Thus the developed cost index would enhance effectiveness of budget estimation process 3nd support reasonable decision making. This cost index model is developed by analyzing historical cost data with statistical methodology The study is executed by following process. First, factors which affect construction cost for the most are selected by analyzing historical cost data. second, the selected factors are categorized material cost, labor cost and equipment cost, and weights of those factors are calculated by dividing the cost of each factor by total item costs. Last, cost index is developed by using weighted average method.

• Proceedings of the Korean Institute of Building Construction Conference
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• 2020.06a
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• pp.171-172
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• 2020

Recently, the need for smart construction technologies related to the Fourth Industrial Revolution has been increasing in order to improve productivity of the construction industry. The Ministry of Land, Infrastructure and Transport has established Smart construction technology road map to commercialize the smart construction, and research and development is also underway. However, due to the lack of cost estimation standards for such smart construction technologies to be deployed to actual sites, smart construction technologies are not actively applied to construction sites. In particular, cost estimation standards are needed for construction machinery equipment with ICT technology that is currently available for commercialization. Therefore, as a preliminary study for the development of smart construction cost estimation standards, a case study was conducted on ICT construction estimation standards in Japan and present them as basic data for standards in Korea.