• Proceedings of the Korean Institute of Building Construction Conference
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• 2012.05a
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• pp.319-320
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• 2012

International oil prices is the world's leading macroeconomic indicators. Rising international oil price has been worsening. profitability of construction company including material cost as well stagnation in housing market. Thus, according to fluctuations in international oil prices has cost index need to see any change happening there. in this study, 2000 to 2011 interest rates, exchange rates and oil price fluctuations in construction cost is to compare the impact.

• Korean Journal of Construction Engineering and Management
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• v.13 no.1
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• pp.87-94
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• 2012

The apartment reconstruction projects have the proper functions such as residential environment improvement and the new housing allocation system; however, intention of the projects are distorted by the combination of factors, like failure of relocation of the original occupants and income redistribution, speculation in real estate, sharp rise in housing price, disputation between various interested parties, inadequate system and etc and it makes the projects unable to go well. Disputations and litigations are due to spread of the small conflict. As a result of the problems, it could not going smoothly and that lead to increase or stop the period and cost. This study is to estimate the period and cost using the conflict index so as to prevent and solve the problem which is among the conflict in the reverse functions. The conflict index has estimated focus on the conflict impact and the period and cost has been estimated using an variable independent including the conflict index. Also, estimated the conflict index and estimate of the period and cost are able to succeed with a minimum of disputation and money.

• Journal of the Society of Disaster Information
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• v.9 no.1
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• pp.11-21
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• 2013

This study proposed cost prediction equation model by considering duration, construction, size, actual cost with the subway construction started by the actual cost system which was introduced since 2004. Costs - scale exponent n(confidence range: 0.5 to 0.7) for cost prediction of subway construction was drawn total cost(0.713), net cost(0.77) in point of the 11 subway construction data. The cost prediction equation model of the subway construction which was presented in this study is able to effectively apply to business planning, preliminary investigation, feasibility study, basic design stage to estimate the approximate cost in the future.

• Journal of the Korea Institute of Building Construction
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• v.8 no.6
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• pp.65-74
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• 2008

The aim is to get comprehensive view point for the price of apartment. Apartment construction cost is the sun of land cost and building cost. Land price reflects the value of location where building stands. When the gap between price and affordability is narrow enough, effective demand promote apartment construction. The today's trends of rising price, which began in apartment housing, spreads to real estates market and finally overall consumer price. Problem is that price is decided only by supplier's interest. Equilibrium-pricing is common process in housing market. However it is important to review hedonic price and the factor of housing services and focused on the affordability of demanders. AHP analysis was used to study real needs and preference of demanders and dealt with 200 interviewees with brief checklists. We found that social factor is more important than building cost or site development. Especially location of apartment is most important to affect environment quality and accessibility to facilities.

• Journal of Construction Engineering and Project Management
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• v.7 no.3
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• pp.39-55
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• 2017

Preeminent performance of construction industry are unattainable with poor productivity resulting in time and cost over runs. Enhancement in productivity cannot be achieved without identifying and analyzing factors that adversely affect productivity. The objective therefore is to propose a productivity analysis model to quantify the probability of effect of factors influencing productivity by using fuzzy logic incorporated with relative importance index method, for various types of construction projects. To achieve this objective, a questionnaire survey was carried out targeting respondents of Indian construction industry, from four distinct projects, namely, residential, commercial, infrastructure and industrial projects. Based on questionnaire administered, the relative importance and ranks of factors demonstrated using relative importance index method. Probability assessment model to analyze productivity was then developed by using Fuzzy Logic Toolbox of MATLAB. The applicability of the proposed model was tested in seven construction projects and the probability of impact of factors on productivity evaluated. The results of application of model in the construction firms infers that the most contributing factor groups for most of the projects were discerned to be manpower, motivation and time group.

• Korean Journal of Construction Engineering and Management
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• v.5 no.6 s.22
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• pp.203-211
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• 2004

This study is the results to survey on the problems and improvable Policies for current escalation system in construction contracts, through a Delphi survey to experts. From the survey results, it is desirable to decide the fluctuation rate of construction cost, which is the requirement of escalation clause, on the basis of inflation rate or construction cost index. The desirable price fluctuation rate is proposed as a $3\%$ level. However, it is difficult for construction companies to cope with the sudden increase of material price in advance, arising from short-term shock factors such as exchange rate and international raw material's price. Accordingly escalation system for specified materials, as an exceptional mode, should be introduced. As a method to calculate the fluctuation rate, ARCA(adjustment rate for the categories of articles) is more desirable than ARI(adjustment rate for an index), because the ARCA can be more reflected the characteristics of each construction work.To rationalize the ARI method, it is needed to announce the wage index, material index and machinery expense index via detailed classification by construction types. Also, it is desirable to prescribe the bidding date as a starting date of the price change, rather than contact signing date. considering the price change can happen since the biddiilg stage.

• Proceedings of the KSR Conference
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• 2004.10a
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• pp.940-956
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• 2004

In the course of studying the design of securing the 100-year-long durability of 100 years the subway structure according to the requested service by the Seoul Metropolitan Subway Construction Headquarters, we analyzed 14 construction sites adopting the durability design in subway line No. 9 and concluded as follows: 1. When comparing with 158, the environment index presented for securing 100-year-long durability of subway structure in subway line No. 9, the index of durability was verified as 159.7$\~$179.8 2. When examining the increase value of durability index, we verified that the constructors didn't make various choices in method but they employed the uniformly selected system. 3. Under consideration of the bid form, the construction under bid contract in bulk gave the impacts on the construction cost with attention to selection of the durability index, while the construction under alternative contract in bid adopted uniformly the standard presented by the ordering party.

• Journal of the Architectural Institute of Korea Structure & Construction
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• v.35 no.10
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• pp.225-234
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• 2019

The purpose of this paper is to analyze the additional construction cost of G-SEED certification for domestic office building reflecting the latest standard(G-SEED 2016-2), and to derive cost impact by category and level. Therefore, it is intended to provide quantitave cost data according to G-SEED certification at the planning phase of the project, estimate the additional construction cost per level according to G-SEED Certification of similar project to be carried out in the future, and encourage G-SEED certification by supporting the decision of the owners. Method: The Process and method of this study are summarized in five steps, 1) Review of previous research, 2) Selection of target project, 3) Scenario setting by level, 4) Additional construction cost for each evaluation category, 5) Extraction of additional construction cost ratio by level. Result: This paper analyzed the cost impact by deriving the additional construction cost of detailed category for level improvement according to the revised G-SEED certification(G-SEED 2016-2). In conclusion, an additional construction cost(ratio) of G-SEED projects to the reference building is drawn as good level; 157,426,241 KWN(+0.43%), very good level; 321,907,802 KWN(+0.88%), excellent level; 999,371,478 KWN(+2.74%), and outstanding level; 1,467,047,718 KWN(+4.02%).

• International conference on construction engineering and project management
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• 2022.06a
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• pp.590-598
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• 2022

Benchmarking is an important tool to assess the performance of capital projects in the construction industry. Incorporating cost-related metrics into a benchmarking system requires an effective cost normalization process to enable meaningful comparisons among projects that were executed at different locations and times. Projects in the downstream and chemicals sector have unique characteristics compared to other types of construction projects, they require a distinctive cost normalization framework to be developed to benchmark their absolute cost performance. The purpose of this study is to develop such a framework to be used for the case of benchmarking the downstream and chemical projects for their performance assessment. The research team started with a review of existing cost normalization methodologies adopted in benchmarking systems and conducted 7 interviews to identify the current cost normalization practices used by industrial professionals. A panel of 12 experts was then convened and it held 6 review sessions to accomplish the framework development. The cost normalization framework for benchmarking downstream and chemical projects was established as a three-step procedure and it adopts a 4-element cost breakdown structure to accommodate projects submitted by both owners and contractors. It also incorporated 5 published cost indexes that are compatible with downstream and chemical projects and they were embedded into 2 options to complete the normalization process. The framework was then pilot-tested on 4 completed projects to validate its functional practicality and the downstream and chemical use case in the benchmarking system.

• Proceedings of the Korean Institute of Building Construction Conference
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• 2015.11a
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• pp.83-84
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• 2015

Remodeling of apartment houses has been increasing recently and residents have chosen to extend the balcony along with the legalization of balcony extension in apartment houses. Balcony extension provides residents more space, however, it has been investigated that balcony extension increases construction cost, heating and cooling cost and decreases sound insulation performance. Therefore, this study focuses on developing a decision making index for residents in remodeling required apartment houses. The suggested methodology involves surveying actual residents, survey analysis by AHP and decision model development using logistic regression analysis.