• Title/Summary/Keyword: Construction Management Firms

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Benchmarking of Strategic Performance of Global Top Construction Firms (사업구조 전략 분석을 통한 세계 선진기업 선정 및 특성분석)

  • Woo, Jung-Suk;Jang, Hyoun-Seung;Choi, Seok-In;Park, Chan-Sik
    • Korean Journal of Construction Engineering and Management
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    • v.10 no.3
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    • pp.122-129
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    • 2009
  • Strategic planning is an essential function of senior management in any business firm. Planning involves the firm's behavior in an competitive market and adaptation of the company's resources towards the selected market strategy. This study presents a methodological procedure for strategic planning in global top-tier construction firms. This procedure consists of the following stages. First, analyzed growth of revenue in which weight of total construction firms' revenue shown in Global Top 225 Contractors(ENR). Second, analyzed specialty of construction products. The products are General Building, Power, Water Supply, Industrial/Petroleum Process, and Transportation. Third, analyzed business the portfolio plan. The business portfolio plan includes both local/overseas market and specification/diversification of construction products. It affects the subsequent choice of a benchmarking for development of each construction company. The choice of the benchmarking firm, among several available alternatives, should follow a careful analysis of the characteristics and benefits inherent in the implementation of each.

OHSAS Practices Analysis : A Case Study using Audit Results (안전보건경영시스템 운용분석 : 심사자료 사례연구)

  • Park, Dong-Joon;Kang, Byung-Hwan;Kim, Ho-Gyun
    • Korean Management Science Review
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    • v.32 no.2
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    • pp.79-89
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    • 2015
  • The firms with OHSAS (Occupational Health and Safety Management System) registration should be audited every six months and they have to be reregistered every three years by a third party. In our article audit data were collected from the audit processes of fifty four firms that OHSAS 18001:2007 was implemented and audited by LRQA (Lloyd's Register Quality Assurance). Fifty four firms are largely classified as four categories: civil engineering and construction industry, metal and heavy industry, chemical industry, and other industries including electric, electronic, food, and services. Especially the minor conformity data are analyzed by statistical methods to find out the relationship between four categories of 54 firms and the average number of minor nonconformities. The most frequently appeared minor nonconformities among sub-requirements of OHSAS 18001:2007 are investigated and the reasons for minor nonconformities are specifically explained. The average number of minor nonconformities of firms before and after OHSAS 18001:2007 registration are compared to understand the maturity of OHSAS implementation. Some comments and suggestions are provided for OHSAS to be effectively implemented to the firms if revision is necessary.

Competitiveness Benchmarking of Overseas Construction through a SWOT analysis of leading construction firms in Spain and France

  • Han, Jae-Goo;Park, Hwan-Pyo;Jang, Hyoun-Seung
    • International conference on construction engineering and project management
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    • 2015.10a
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    • pp.721-722
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    • 2015
  • The aim of this research is to provide a direction to benchmark advanced construction companies from Spain and France by deriving business strategies through SWOT analysis in order to strengthen overseas expansion and competitiveness of domestic construction companies.

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Project Risk Assessment Through Construction Sequence Analyses for Industrial Plant Construction Projects (산업플랜트 건설 프로젝트의 주요 공정 시퀀스 분석을 통한 리스크 평가)

  • Lee, Kyusung;Choi, Jaehyun
    • Korean Journal of Construction Engineering and Management
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    • v.14 no.4
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    • pp.140-151
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    • 2013
  • In 2011 and 2012, Korean construction firms awarded around $ 64.5. Billion each year from the overseas market in 2011. This contract value accounted for overwhelming portion of total overseas construction contract values, and this growth is expected to continue for the next decade. However, contract scopes awarded to the Korean construction firms mainly involve detailed design and construction phases due to their competitiveness for the construction techniques. In other words, front-end-engineering-design and construction project management are not considered part of core business due to the lack of project management skills and experience. The researchers focused on development of construction sequence model required to improve construction planning and scheduling skills for the Korean construction firms. The model identifies critical work items and the sequence throughout project execution process. In addition, the researchers developed a risk evaluation method by applying fuzzy theory to the critical construction activities for the industrial plant construction projects. Developed methodology will help project practitioners to develop project schedule in a timely and effe ctive manner and evaluate project risks associated with scheduling process for the industrial plant construction projects.

A Study on the Application Plan of the Optimized Risk Assessment Model in Construction Field (최적 위험도 평가 모델의 건설업 분야 적용 방안에 관한 연구)

  • cho, Jae-hwan
    • Journal of the Korea Safety Management & Science
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    • v.19 no.4
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    • pp.53-62
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    • 2017
  • It has come to attention that a risk-assessing organization, that will benchmark a company's safety department, is imperative, following an increase in large-scale SOC-business project, construction of higher-raised buildings, development of underground space; all that have increase accident rates. Having faced problems that arise in firms that demand diversity, complexity and instantaneity, the purpose of the thesis is to arrive at efficient and practical problem-solving means. In order to solve the problems that would surface theoretically during an actual risk assessment, the state of the operation systems of the top five national construction firms having a hazard rate of 0.25 times less than the average rate have been analyzed, while a hierarchal recognition research of the employees who not only function at the operating level but are the practice subjects of a firm, has also been conducted, bringing the main text.

Analyzing the Technical Efficiency of Korean Engineering and Construction Firms after the Financial Crisis (외환위기 이후 국내건설회사의 효율성 분석)

  • Kim, Kon-Shik
    • Korean Journal of Construction Engineering and Management
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    • v.6 no.1 s.23
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    • pp.151-161
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    • 2005
  • This paper analyzes the technical efficiencies of 38 Korean engineering and construction firms and the efficiency changes from 1999 to 2003 using data envelopment analysis (DEA). Best practice firms in terms of technical efficiency and profit are identified. For inefficient firms, performance targets to be efficient are suggested. Technical efficiencies had been increased over the five year period, and the efficiency difference between firms had been reduced during this period. The differences in efficiency due to the differences in cooperate governance structures are statistically significant. In addition, the technical efficiency is correlated with product portfolios, degree of subcontract, rates of value added, returns on invested capital, and EBITDA.

Front End Engineering and Design (FEED) for Project Management of Thermal Power Plant Construction

  • KIM, Namjoon;JUNG, Youngsoo
    • International conference on construction engineering and project management
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    • 2015.10a
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    • pp.415-419
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    • 2015
  • Engineering is a value-adding process applying knowledge and skills in the construction industry that includes the planning, feasibility study, project management (PM), front end engineering and design (FEED), detail design, procurement, construction, supervision, and operation. Among these engineering activities, FEED is defined as a comprehensive design practice in the early design phase focused on conceptual design and basic design. It is a particularly influencing area that determines the competitiveness of procurement and construction capability of construction firms (KNIN 2013). Nevertheless, previous studies in FEED have been limited to the design process, deliverable, or particular management technique (e.g. system engineering, collaboration, information etc.). In this context, the purpose of this study is to propose a comprehensive FEED business process structure for project management of thermal power plant construction projects encompassing the entire project life cycle. And an assessment methodology for FEED functions was developed. It is expected that the proposed structure of FEED functions and FEED evaluation methodology will contribute to improvement of competitive capability of engineering, procurement, and construction (EPC) companies.

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Strategic Alliance Networks in Korean Construction Industry: Network Structure and Performance of Firms (국내건설기업의 제휴네트워크 : 네트워크 구조와 성과)

  • Kim, Kon-Shik;Shin, Tack-Hyun
    • Korean Journal of Construction Engineering and Management
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    • v.10 no.4
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    • pp.151-164
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    • 2009
  • Strategic alliances developed as formalized inter-organizational relationships are core vehicles to share information, resources and knowledge. The structural characteristics of strategic network constructed by strategic alliances have been important agenda in strategic management discipline. This paper has two folds in analysing the strategic network formulated by project level alliances in Korean construction industry. First, we investigate the strategic network using the tools and methods of social network analysis, such as centrality, cohesion, structural equivalence, and power law. Second, the performance of firms within networks are analysed longitudinally with panel data analysis. We have found that the strategic networks in this industry has scale-free characteristics, where the degree distribution fits the power law, and the vertically equivalent structure is clear. We also present that the performance of firms are continuously affected by the degree centrality of firms in this network for the last 10 years.

An Assessment of Technological Competitiveness in Core Products of Foreign Design & Construction markets (해외 유망 건설상품의 기술 경쟁력 평가)

  • Choi, Seok-In;Kim, Sang-Bum;Lee, Young-Whan;Kim, Woo-Young;Jang, Hyoun-Seung
    • Korean Journal of Construction Engineering and Management
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    • v.9 no.1
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    • pp.107-117
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    • 2008
  • In this study, surveys and interviews are used to evaluate technological competitiveness of each product with respect to that of foreign leading firms, for seven leading domestic construction products which have been determined to have competitive edge in offshore markets, Such evaluation provides a more in depth study than previously conducted research, and is meaningful in that corporate level, rather than industry level, perspective is projected. Major findings of such evaluations are the following. First, as expected, it has been evaluated that domestic technological competitiveness in desalination plant and power plant has reached the point where it can compete with foreign leading firms. Moreover, a noteworthy result of the evaluation is that development program sector, including urban development of satellite cities, has reached considerable level of competitiveness in offshore market. In the case of the development market, domestic firms have accumulated sufficient experience in domestic market and engineering technology is not a decisive factor as in plant sector, and these factors lead to such an evaluation. Second, in the cases of gas, oil refinery and petro-chemical plants, domestic products' technological competitiveness that can contest in offshore market is still centered around production and construction. On the other hand, there are still weaknesses in license technology and basic design capabilities, which constitute the "value added" area. Third, skyscrapers, a promising product in offshore construction market and a product group which domestic firms have much performance record and projects in progress both in domestic and offshore markets, are considered. While direct comparison between skyscrapers and plant sector is not feasible, with the exception of production and construction, overall domestic capability in this sector has been assessed to be the lowest amongst those products that were surveyed. Fourth, it has been indicated that competitiveness is relatively higher in common technology than in key technology. In project management capability, it has been assessed that there are weaknesses in procedure document area. Also, a characteristic is the point that low overall assessments have been given across all product groups for corporate and management areas, not technological areas. Especially, financing, contracting/claim, risk management and investment on research and development received low evaluations. Fifth, it has been assessed that overall corporate and governmental supports are weak. This result is especially evident for corporate management and support areas across all product groups surveyed.

A Study on the Competitiveness of Green Construction in Construction Firms (건설기업의 녹색건설 경쟁력 요인에 관한 연구)

  • Lee, Eui-Dong;Lee, Jae-Wook;Kim, Han-Soo
    • Korean Journal of Construction Engineering and Management
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    • v.13 no.5
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    • pp.125-134
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    • 2012
  • In the construction industry, "Green" is emerging as a keyword of new growth engine. Since green construction competitiveness is essential for contractors' survival and growth, it is important to understand what constitutes green construction competitiveness. The objective of the study is to identify elements of green construction competitiveness and to discuss relationships between their importance and current level based on the Gap analysis. A better understanding of the elements of green construction competitiveness assists contractors in formulating green strategies. It also provides insight into what motivates contractors in establishing related policies and regulations. The study identifies that in general there exists a gap between the importance and current level of green construction competitiveness. It also demonstrates that CEO' competence shows a less gap between the importance and current level but firms' competence is an area of weakness. Finally a substantial gap is observed in the field of green R&D strategies and sub-contracting partners.