• International conference on construction engineering and project management
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• 2015.10a
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• pp.39-40
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• 2015

As international construction market increases, the importance of risk management in international construction project is emphasized. Unfortunately, current risk management practice does not sufficiently deal with project risks. Although a lot of risk analysis techniques have been introduced, most of them focus on project's external unexpected risks such as country conditions and owner's financial standing. However, because those external risks are difficult to manage and take preemptive action, we need to concentrate on project inherent risks. Based on this premise, this paper proposes a project-oriented risk mining approach which could detect and extract project risk factors automatically before they are materialized. This study presents a methodology regarding how to extract potential risks which exist in owner's project requirements and project tender documents using state of the art data analysis method such as text mining. The project-oriented risk mining approach is expected to effectively reflect project characteristics to the project risk management and could provide construction firms with valuable business intelligence.

• Journal of the Korea Institute of Building Construction
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• v.11 no.6
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• pp.609-617
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• 2011

For the past several decades, the residential housing market has been led by construction firms rather than consumers; in essence, it has been a suppliers' market. However, the market is experiencing a transition to a buyers' market, the implication of which is that there will be increased competition among the residential building suppliers. For this reason, it is necessary for construction firms to prepare new strategies to respond to the rapidly changing market environment. Furthermore, consumer satisfaction should be valued more highly than in the past, and should be a baseline in formulating construction product development strategy. For the pre-classified 13 apartment building segments, questionnaire surveys are conducted for the 50 CS (Customer Satisfaction) experts to evaluate their perceptions on the weighing of the quality of each apartment segment. Data obtained from a survey of experts was analyzed from an industry perspective utilizing the AHP technique. Analysis results indicate that the CS experts valued the kitchen & dining area more highly than all other segments. Specific analysis results and implications drawn from the study can be a valuable basis for marketing, product development, and quality management.

• International conference on construction engineering and project management
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• 2005.10a
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• pp.417-423
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• 2005

Contractor's opportunistic bidding behavior refers to contractor's deliberate low-bid, which cannot accord with the cost, and expectation for beyond-contractual reward (BCR), the compensation earned through cutting corners or claims after undertaking the construction project. This research applies System Dynamics to develop a model of contractor's pricing with consideration for dimensions of "cost", "market competition", and "BCR". Iterative computer simulations were performed to analyze the effects of contractor's pricing on the market price. The results were then examined by statistical analysis on data collected from 44 highway projects in Taiwan. It is found that the critical force driving the contractors to bid opportunistically is their excessive expectations in BCR under the current environment. Within the price competition mechanism, if the problem of BCR exists, even if the bidding system is further improved, contractors would still prefer opportunistic bidding behavior, and eventually make the whole construction industry operate ineffectively. Therefore, it is crucial to remedy the aforementioned BCR problem by more effective management policy.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.1
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• pp.781-790
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• 2021

The purpose of this study is to test empirically the effect of Islamic business ethics and market conditions on organizational performance in state-owned construction companies in Indonesia. Data collection in this study was conducted online and the total number of data used was 81 respondents, both directors, heads of departments, and managers (general and project). This study uses a partial least squares structural equation model (PLS-SEM) with a quantitative approach that aims to test hypotheses and relationships between variables, such as Islamic business ethics, market conditions, project management, organizational culture, competitive strategy, and organizational performance. This study shows Islamic business ethics has a significant direct effect on organizational performance. Market conditions do not have a direct significant effect on organizational performance. Meanwhile, the mediating variables of project management and competitive strategy have a significant direct effect on organizational performance. Organizational culture does not have a significant influence on organizational performance. Conversely, market conditions have a significant influence through the mediating variables of project management and competitive strategy on organizational performance. Besides, this study is an attempt to determine the impact of the criteria factors affecting the measurement of the performance of construction organizations in Indonesia in terms of the external environment and organizational structure.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• 2008.11a
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• pp.119-128
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• 2008

Recently, because of the economic slump on the national construction market, enterprises are making a ceaseless effort on participating in the competitiveness enforcement, internationalization and globalization. As this firm has found a larger market abroad and took part in great and small services since 2003, successful services are going under construction in USA, Mongolia and Guam. In this case study, looking around the on-going projects, the analysis and solutions of the differences of the counter attitude and matters resulted from politic, economical, social and cultural gaps are proposed. This study is helpful to enterprises which are planning to extend its business abroad and which want to take part in global standards.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• 2007.11a
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• pp.19-24
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• 2007

Due to the decreasing of Korean Construction market situation, recently a lot of medium & small size contractors, engineering firms and consulting firms are extending their business area to overseas market. To compare with 80${\sim}$90's situation at that time only Contractor provide service to overseas but in recent, there are number of Design, CM/PM and other consulting services which provide service to overseas. With this figures, the number of nation also increased from middle east and South east asian area to central asia and african nations and among them Kazakhstan has became as new market for the construction industry based on it oil money and up stream of real estimate market. Based on this fact, we will explain one of our recent project case for PM service in Almaty, Kazakhstan to show others who have interest to do business in their.

• Korean Journal of Construction Engineering and Management
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• v.4 no.3 s.15
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• pp.76-84
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• 2003

The bankruptcy possibility of construction firms have been higher by the environment of current construction industry. Thus, converting management environment for growth into that for value or profit is required. Nowadays, funds of construction firms is almost provided by financial institutions. As the firms' size grow, they have a form of fund provision through the securities market; however, fair distribution for returns is not practiced by opening company. Especially, construction firms lost trust of Investor by lack of awareness to firm clearness, and then a vicious cycle of no effectiveness in fund provision through securities market is continued again. On this study correlation between stock quotations and primary financial factors of firms in order to grasp actual management condition in construction firms was analyzed. By this, the correlation between stock quotations and the result of firm management was provided. Also, necessity of firm's capital provision was explained, thus ways to ensure firm clearness was searched.

• Proceedings of the Korean Institute of Building Construction Conference
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• 2010.05a
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• pp.191-194
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• 2010

Construction companies are now trying a variety of cost-cutting strategies in the midst of recent slump of construction market. Notably, contract workers and local hires are accounting for increasing portion of management manpower as a part of their cost-reduction drive. However, construction site manpower researches to date have focused primarily on productivity analysis of site laborers, with little attention to the productivity of site management resources. This study aims to analyze the staffing status of office building construction site management manpower in reference to project size. Conclusions herein will provide basic inputs for subsequent attempts to build a model to enable efficient staffing of construction site management manpower.

• 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.

• Plant Journal
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• v.5 no.3
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• pp.66-73
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• 2009

This study aims to develop a strategy for South Korean companies to penetrate into the global NPP(nuclear power plant) market with their strength as the sixth biggest nuclear power generator in the world. With 20 nuclear plants in commercial operation and 6 more in construction, South Korea has the best technology in construction and operation of NPP. Despite these capabilities as demonstrated on its domestic market, Korean companies' constraint to enter and play a key role in global NPP market would be the lack of experience in overseas NPP projects, original technologies, and diplomatic effectiveness. This study analyzes the competitiveness of Korean standardized nuclear power plant, construction management skills, construction technologies, manufacturing equipment and materials and operation skills. In this research the current status of existing NPP and the forecast of building NPP according to countries was analyzed in order to work out strategies with technology, cost-effectiveness, and diplomatic consideration.