• International conference on construction engineering and project management
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• 2022.06a
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• pp.1240-1240
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• 2022

Construction projects are fraught with risks from cost or other overruns to accidents along with other issues. This is true whether the relevant organization is an owner, general contractor, CM, specialty-trade contractor, or other entity. When cost issues or other issues confront arise, how should an organization proceed whether attempting to gain additional compensation in terms of cost/other damages or protecting the same against such claims if they do not appear to be warranted? Enter construction cost forensics. This presentation will focus on strategies/techniques with construction cost forensics in these areas in order to be successful. Covered techniques include those to develop and analyze claims including fundamental construction cost analysis techniques. When an unexpected event disrupts a construction project, using sound analytical methods to identify the cause and quantify the extent of the issue will be important for negotiating a fair result or for obtaining a successful outcome in arbitration or litigation. Key examples of uncovering issues via construction cost forensics will be covered in this presentation.

• Journal of the Korean Society of Safety
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• v.33 no.5
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• pp.84-91
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• 2018

Despite the government 's efforts to reduce constructional disasters, it has been pointed out that the safety management cost of the Construction Technology Promotion Act does not reflect the actual site. Therefore, it is necessary to study the proper guideline of the safety management cost which can be used as the most fundamental measure to prevent construction accidents. Moreover for the securement of the reasonable safety management costs, it is important to calculate its appropriate rate. Thus, in this study, the appropriate rate of safety management cost was proposed by the construction cost & type based on the 111 execution plans of safety management cost, and the rate is analyzed to be 1/10 of the occupational safety and health management cost. The results of this study will be a guideline in improvement to the proper schedule rating system improvement and in implement of pilot projects.

• Journal of Construction Engineering and Project Management
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• v.5 no.3
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• pp.1-9
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• 2015

Project cost is an important concern in any construction project. Although there has been a lot of studies on factors affecting the cost of construction projects, there seems no consensus as what cost factors have direct influence on the cost of civil engineering projects. This study therefore aims to bridge the current knowledge gap by examining quantity surveyors' perception of the factor structure among nineteen costing attributes identified based on literature review. Questionnaire was used to elicit responses from quantity surveyors working in the Hong Kong construction industry. Principal component analysis is conducted to extract the factor structure of the cost attributes and the attributes are grouped into three factor components, namely the contract management factor, the project management factor and the monetary value factor. Understanding these cost impact factors could be crucial in managing civil engineering projects, since it allows the project stakeholders and quantity surveyors to take precautionary steps to identify the cost management problems and areas for improvement and could even help to avoid cost deviations in engineering projects.

• International conference on construction engineering and project management
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• 2009.05a
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• pp.354-360
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• 2009

The demands for large-scale construction projects such as Mega-projects are largely increasing due to the rapid growth of increasing populations as well as the need to replace existing buildings and infrastructure. Increasing costs of materials, supplies, and labors require the first cost estimates at the preliminary planning stage to be as accurate as possible. This paper presents the results obtained from the survey on evaluating nine critical success factors that influence the accurate first cost estimates for large-scale projects from practical experiences. It then examines the current cost structures of construction companies for large-scale projects, followed by the causes for cost and schedule overrun. Twenty completed surveys were collected and the Analytic Hierarchy Process was applied to analyze the data. The results indicate that technology issues, the contract type, and social and environmental impacts are the significant leading factors for accurate first cost estimates of large-scale construction projects.

• International conference on construction engineering and project management
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• 2015.10a
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• pp.625-626
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• 2015

The purpose of this study is to present a cost classification system that can be used in gas plant construction projects. Towards this end, it examined the detailed statements of the construction companies which had experience in carrying out plant construction projects. Based on the above, it also presented a life-cycle (i.e., EPCC) cost classification system for the gas plant construction projects by conducting the Delphi analysis through the expert opinions.

• Korean Journal of Construction Engineering and Management
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• v.14 no.3
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• pp.12-21
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• 2013

Total Project Cost Management System(TPCMS) was introduced with the purpose of increasing the efficiency of cost control for public construction project in 1994. In this paper, general perception of participants of the public construction project on the TPCMS was examined, and the problems in implementing the TPCMS was figured out through expert interviews and survey. Then better ways to implement the system were drawn based on the problems. To effectively manage the cost of public construction project, basically project cost should be estimated accurately in planning stage and managed based on it to have a project complete within the budget. In addition, the cost need to be managed in more systematic ways in terms of data collection and analysis, and the autonomy in managing the project cost given to the project owner needs to be expanded. Most of all, proper budget should be provided to prevent a project from delay through setting the priority of projects and proper budget allocation based on the priority.

• Proceedings of the Korean Institute of Building Construction Conference
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• 2016.10a
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• pp.71-72
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• 2016

Most of studies on PC method aim at the structural analysis and development of PC members, and studies on the construction management aspect are insufficient. Therefore, this study tries to investigate 'hallow PC column composite method(HPC composite method)' from the viewpoint of construction management and analyze the construction cost of the composite method. On the assumption that each comparative method was applied to the zone, the difference in construction cost between the two methods was analyzed. As a result, HPC composite method increased the initial investment cost because of its factor technology, but reduced transport cost, lifting cost, and installation cost through lightweight columns. This study analyzed only the difference in construction cost of HPC composite method so that it has the limitation in evaluating its economy. Therefore, to evaluate the economy of HPC composite method, it is considered to research more the construction cost of HPC composite method.

• International conference on construction engineering and project management
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• 2011.02a
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• pp.510-515
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• 2011

Urban renewal projects, in the form of mega-projects, are being actively implemented both nationally and internationally to revitalize inactive cities. These programs, however, are difficult to manage efficiently due to their need for a large budget over a long period of time and due to conflicts with stockholders. Moreover, existing cost and duration management systems are structured with emphasis on the design and construction stage of unit projects, thus limiting their application to long-term mega-projects that are integrated with various facilities. To solve these problems, this study developed a web-based system that can collectively manage the cost and duration of mega-projects at a program level. The unit modules included in the system--CBS organization, construction cost and duration prediction, and total cost and duration prediction--can support decision-making at the early stage of the program. Furthermore, the modules, which include contract management, execution management, change management, and program progress management, support the program operations for its successful accomplishment. The web-based cost and duration management system developed in this study is expected to be used as a valuable tool that supports the successful accomplishment of mega-projects through their efficient management throughout their life cycle.

• International conference on construction engineering and project management
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• 2005.10a
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• pp.908-912
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• 2005

Construction Cost Indices are values for measuring fluctuations in direct construction costs which include material costs, labor costs, and equipment costs for construction operations. In Korea, Korea Institute of Construction Technology (KICT) has been assessing and announcing these indices since January, 2004. The main goals of this paper are to look over the calculation process for those indices and then present the trend in construction costs according to the types of facilities with the past construction cost index data. Also, this paper traces the origin of the occurrence of significant changes on those indices through the further analysis of the trend. In addition, this paper shows the practicality of the indices and the way how to put them to practical use. An alternative estimate method using the indices is suggested for compensating the changes of construction costs caused by price fluctuations.

• Korean Journal of Construction Engineering and Management
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• v.6 no.5 s.27
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• pp.186-192
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• 2005

The purpose of this study is to find the reality of environmental management cost in construction projects and to suggest some policies in order that owners appropriate the environmental management cost reasonably in the construction budget for reducing the environmental pollution at job sites. We surveyed the actual state of appropriating and expending the environmental management cost over 122 construction sites. According to the results of the survey, while the appropriated rate of the environmental management cost was 0.59% of the total construction cost. the expended rate reached at 0.94%. When examining the antipollution facilities which were operated in job sites, the investment for equipment against air-pollution such as tire washer, dust-proof device was relatively higher than other antipollution equipment. As the method appropriating the environmental management cost, we concluded that a quantity-per-unit costing method is more reasonable than appropriating at a fixed rate of total construction cost considering that there is little correlation between total construction cost and the environmental management cost. To do so, antipollution facilities that must be examined at a design or estimation stage of a construction project should be prescribed by the law. Moreover, referenced cost data for the quantity-per-unit costing should be prepared and officially published.