• International conference on construction engineering and project management
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• 2011.02a
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• pp.629-635
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• 2011

Retentions are generally considered to be intended to act as a powerful tool to incentivize contractors/subcontractors to remedy defective work in cases of non-performance. This study attempts to establish the extent to which retentions can be used for this purpose by investigating case law connected with insurance and defective work. One of the significant questions is whether retentions are sufficient to deal with construction defects or value of retentions in the rectification of defects is illusory. The cost to repair a defect may vary depending on a number of components including type, cause, magnitude and the construction stage at which the defect occurs. It is expected that a review of existing cases on defective workmanship will provide an insight on the issues and whether retentions are effective in their intended function. In order to establish their functionality, the study described in this paper investigated 6 construction insurance cases to identify the critical issues and the causes of dispute. It was found that the nature and the cause of defects were different in each case. It was also established that certain defect types not covered by insurance may be covered by retentions - potentially one of the key uses of a retention strategy. It is expected that the findings will assist in forming a view on the quantum of money that may be required paving the way for a first time understanding on a rational basis for setting up retention regime.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• autumn
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• pp.78-84
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• 2002

In VE(Value Engineering) process, function analysis technique is utilized as a stepping stone to induce creative idea. However, function analysis is regarded as the most difficult job for VE team to undertake. For this reason, the function analysis is not properly applied or even omitted in construction VE studies. The current problems of function analysis in construction VE are following: 1) lack of basic understanding of the function analysis as problem solving technique, 2) the sequential step-by-step analysis process, 3) lack of interrelationship between function analysis and other phase in th VE process, 4) lack of time, experience, training, and quantitative data etc. The existing function analysis is faultiness theoretically. However, it is not enough for efficient use in practice, Thus The study aims to suggest an function analysis application method and to develop a computerized FAST(function Analysis System Technique) diagramming model, called Easy-FAST, for the efficient and effective function analysis on construction VE projects.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• 2007.11a
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• pp.1029-1032
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• 2007

This study enforced function analysis, achievements of ideas and valuations due to VE workshop about " the new construct field of apartment, A-14, Woonjeongjigu, Paju" as the project of a plan VE competition held by the Korea National Housing Corporation, For the results of the research, it was to enforce 163 works of function analysis, 333 items of creating ideas, and 193 achievements of ideas. Besides, VE was proposed about 46 works of increasing values and cost reduction for 103 works and 10,040,000,000 won.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.38 no.4
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• pp.39-44
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• 2015

The VHTR (Very High Temperature gas-cooled nuclear Reactor) has been considered as a major heat source and the most safe generation IV type reactor for mass hydrogen production to prepare for the hydrogen economy era. The VHTR satisfies goals for the GIF (Generation IV International Forum) policy such as sustainablility, economics, reliability and proliferation resistance and physical protection, and safety. As a part of a VHTR economic analysis, we have studied the VHTR construction cost and operation and maintenance cost. However, it is somewhat difficult to expect the ripple effect on the whole industry due to the lack of information about Inter-industries relationship. In many case, the ripple effect are based on experts' knowledge or uncertain qualitative assumptions. As a result, we propose quantitative analysis techniques for ripple effects such as the production inducement effect, added value inducement effect, and employment inducement effect for VHTR 600MWt${\times}$4 modules construction and operation ripple effect based on NOAK (Nth Of A Kind). Because inducement effect values have been published annually, we predict inducement effect's relation function and estimated values including production inducement effect value, added value inducement effect value, and employment inducement effect value using time series and estimated values are verified with published inducement effects' value. This paper presents a new method for the ripple effect and preliminary ripple effect consequence using a time series analysis and inter-industry table. This ripple effect analysis techniques can be applied to effect expectation analysis as well as other type reactor's ripple effect analysis including VHTR for process heat.

• Journal of Construction Engineering and Project Management
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• v.2 no.2
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• pp.53-60
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• 2012

Accurate assessment of $CO_2$ emission from buildings requires gathering $CO_2$ emission data of various construction materials. Unfortunately, the amount of available data is limited in most countries. This study was conducted to present the $CO_2$ emission data of concrete, which is the most important construction material in Korea, by conducting a statistical analysis of the concrete mix proportion. Finally, regression models that can be used to estimate the $CO_2$ emission of concrete in all strengths were developed, and the validity of these models was evaluated using 24 and 35MPa concrete data. The validation test showed that the error ratio of the estimated value did not exceed a maximum of 5.33%. This signifies that the models can be used in acquiring the $CO_2$ emission data of concrete in all strengths. The proposed equations can be used in assessing the environmental impact of various construction structural designs by presenting the $CO_2$ emission data of all concrete types.

• International conference on construction engineering and project management
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• 2013.01a
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• pp.386-389
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• 2013

Under climate change and urbanization, rainwater harvesting (RWH) systems are emerging as an alternative source of water supply because of growing concern about water sustainability. RWH systems can satisfy the various watering needs and provide the environmental benefits of lessening the damages from flood, drought, and runoff. The economic success of a RWH system is vitally concerned with the determination of the design capacity of storage tank to be built in the system. The design capacity is determined by the factors of average annual rainfall, period of water scarcity, and water price during the whole life-cycles. Despite the high uncertainties inherent in these factors, the current engineering design of RWH system construction often assumes that storage tanks should be built all at once. This assumption implicitly ignores the managerial flexibility in responds to the future as new information comes out-the right to build storage tanks stage by stage depending on the evolution of demand. This study evaluates the value of a multistage storage tank construction using a real option approach. A case study involving a typical RWH system construction in Jeonju, the Republic of Korea is conducted. The managerial flexibility obtained from the real option perspective allows engineers to develop investment strategies to better cope with the issue of water sustainability.

• Journal of Construction Engineering and Project Management
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• v.6 no.2
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• pp.24-29
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• 2016

This paper elaborates the significance of scenario planning in risk management, and presents an integrated approach which takes into account the 'Risk Events' derived from scenario planning for risk prioritisation. This research integrates scenario planning with Risk Failure Mode and Effect Analysis (RFMEA) through examples from construction litigations of project schedule and cost overrun cases as a simplified approach to project risk management. The proposed methodology incorporates scenarios developed from realistic events of dispute and arbitration cases from construction projects, and thereby increasing potential to foresee risks and their effects well in advance. The results from this methodology shall be validated against outcome of survey study conducted by KPMG-PMI (2013) on project schedule and cost overruns that was based on Ministry of Statistics and Programme Implementation (MoSPI) Project Monitoring data for 2012-13.

• International conference on construction engineering and project management
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• 2007.03a
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• pp.563-572
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• 2007

Transportation infrastructure is critical to economic growth of a country such as China. Careful evaluation of investments in traffic infrastructure projects is therefore pertinent. As traditional evaluation methods do not consider the uncertainty of future cash flows and mobility during project execution, the real option approach is gradually gaining recognition in the context of valuing construction and infrastructure projects. However, many of the cases only evaluate individual options separately although multiple options often exist in a typical large infrastructure project. Using a highway project in China as a case study, this paper first evaluates a deferment option and a growth option embedded in the project. Subsequently, the values are combined using the fuzzy analytical hierarchy process. It is found that the combined value is less than the sum of the two option values. This finding is consistent with the theoretical observations given in past real option literature despite the use of a different approach.

• International conference on construction engineering and project management
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• 2015.10a
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• pp.6-9
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• 2015

Traditional project management theory is based on a three-dimensional life cycle approach where the project managerseeks to optimize the dimensions of cost-schedule-technical (quality or design). This paper reports the findings of a case study analysis of two complex mega-projects in Michigan which confirm the findings of previous research and illustrates the use of a framework for five-dimensional project management (5DPM) that is for conceptualizing a complex project's scope of work. The framework elevates the recognition that the project's social/political context and the financial arrangements create complexity adding two new dimensions. This paper also demonstrates a methodology to graphically display a project's complexity to better understand and prioritize the available resources. The result is a "complexity footprint" that may help a complex project manager identify the boundary between controllable and uncontrollable projects impacts. The paper finds that applying 5DPM to the two case study projects has given the project delivery team a tool which is actually adding value to the complex project management process.

• Journal of the Korea Institute of Building Construction
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• v.13 no.4
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• pp.382-390
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• 2013

Recently, the housing problem has been recognized as a matter of housing supply with a certain environmental level and not simply a matter of handing as a quantitative problem, and the demand for pleasant residential environments and requirements for residential environments are increasing more and more. However, it is necessary to establish the directions for improvement of the residential environment according to the house type, as the requirements and levels of satisfaction differ. This study aimed to deduce the level of resident satisfaction with the residential environments according to house type, and determine the direction for improvement of the residential environment. To achieve this, the difference between the house types was analyzed through ANOVA analysis and T-Test, and the major factors on the improvement direction of the residential environment were derived through Action-grid analysis.