• The Journal of Asian Finance, Economics and Business
• /
• 제7권8호
• /
• pp.197-204
• /
• 2020

Nowadays, many construction engineering and technology enterprises are evolving to find that prosperity is driven and inspired by an open economy with dynamic markets and fierce multifaceted competition. Besides brand and product uniqueness, the ability to quickly provide customers with quotes are matters of concern. Such a requirement for prompt cost estimation of construction investment projects with the use of a construction price index poses a significant challenge to contractors. This is because the nature of the construction industry is shaped by changes in domestic and foreign economic factors, socio-financial issues, and is under the influence of various micro and macro factors. This paper presents a fuzzy decision-making approach for calculating critical factors that affect the construction price index. A qualitative approach was implemented based on in-depth interviews of experts in the construction industry in Vietnam. A synthetic comparison matrix was calculated using Buckley approach. The CoA approach was applied to defuzzified the fuzzy weights of factors that affect the construction price index. The research results show that the top five critical factors affecting the construction price index in Vietnam are (1) consumer price index, (2) gross domestic product, (3) basic interest rate, (4) foreign exchange rate, and (5) total export and import.

• The Journal of Asian Finance, Economics and Business
• /
• 제8권2호
• /
• pp.195-200
• /
• 2021

In recent years, Vietnam's economic growth rate has been attributed to the growth of many well-managed industries within Southeast Asia. Among them is the civil construction industry. Construction projects typically take a long time to complete and require a huge budget. Many socio-economic variables and factors affect total construction project costs due to market fluctuations. In recent years, crucial socioeconomic development indicators of construction reached a fairly high growth rate. Also, most infrastructure and construction projects have a high degree of complexity and uncertainty. This makes it challenging to predict the accurate project price. These challenges raise the need to recognize significant factors that influence the construction price index of civil buildings in Vietnam, both micro and macro. Therefore, this paper presents critical factors that affect the construction price index using the fuzzy extent analysis process in an uncertain environment. This proposed quantitative model is expected to reflect the uncertainty in the process of evaluating and ranking the influencing factors of the construction price index in Vietnam. The research results would also allow project stakeholders to be more informed of the factors affecting the construction price index in the context of Vietnam's civil construction industry. They also enable construction contractors to estimate project costs and bid rates better, enhancing their project and risk management performance.

• 한국건축시공학회:학술대회논문집
• /
• 한국건축시공학회 2004년도 학술대회지
• /
• pp.83-86
• /
• 2004

Index adjusted ration method has been widely utilized in public construction secter for contract sum adjustment by price fluctuation. In this method. the Production Price Index are used for calculating the base ratio. but the PPI can't reflect the property of construction project in respect of the selected item and weight structure. In this research we prove the problem of using the index adjusted ration method in contract sum adjustment by price fluctuation. and improve it by using the construction cost index. which has the property of construction project. And the result. we figure out the difference between the PPI and CCI by $6.7\%$ in maximum value.

• 수산경영론집
• /
• 제27권1호
• /
• pp.67-90
• /
• 1996

As an important factor of capitalism economics, price of commodities represents a certain country's economic index. For having correct price policy, there should be an appropriate mechanism to make and use systematic statistical data on price. Price statistics are made by indexes and price indexes are categorized into producer price index(PPI) and consumer price index(CPI). The Bank of Korea is publishing producer price index every year, but the producer price index contains some problems. These include as follows : (a) the impractical selection of fisheries products sample (b) uncorrect measure of aquatic products weights (c) investigating sample places. This study try to substitute producer price index of aquatic products and change construction of fisheries producer price index with experimental research on representative fisheries, weight of each fisheries, and suitability of investigating sample places. It is possible to improve practical fisheries producer price index with the results of this research. The findings are as follow. (a) It will be helpful for the government to make the fisheries price policy. (b) It can be used to understand trends of accurate price and price increase of aquatic products, and it's possible to compare with it other industrial indexes including the mining, agricultural, and manufacturing industry and understand relative price movement. (c) When free sales systems of fisheries products as expected, it will be helpful to analyze price movement of producing fisheries cooperatives, producing fisheries market and consuming fisheries market, analysis of market, and formation and consideration of budget. (d) It can be an important index to determine labor wage.

• 한국건설관리학회논문집
• /
• 제6권1호
• /
• pp.162-168
• /
• 2005

건설공사의 계약 이후에 발생하는 물가변동에 의한 계약금액의 조정방법으로 지수조정율 방식이 널리 활용되어 왔다. 그러나 지수조정율에 의한 방식에 사용되는 생산자물가지수는 건설공사의 특성이 반영되지 않은 범용적인 지수이기 때문에 실제 건설공사의 물가변동에 대한 설명력이 매우 부족하다. 이에 본 연구에서는 기존의 지수조정율에 의한 계약금액 조정방식의 문제점을 활용 지수측면에서 규명하고, 건설사업의 특성을 반영할 수 있는 건설공사비지수의 활용을 통하여 이러한 문제점을 개선하고자 하였으며, 사례연구를 통하여 그 효용성을 검증하였다.

• 한국건축시공학회지
• /
• 제12권6호
• /
• pp.624-635
• /
• 2012

Construction projects, including housing, are carried out over long periods of time. According to changes to the construction period, the cost of input materials and wages also changes. Therefore appropriate management is important in order to minimize cost risks caused by fluctuations in prices. In Korea, housing units are usually sold in lots prior to construction completion. Therefore, careful management of input elements such as materials and equipment that are sensitive to price fluctuations is very important. This study deals with how the price fluctuation of materials, labor, and equipment influences the change of housing cost and seeks a way for cost management through identifying key resources sensitive to price fluctuation. As a result, a change to the housing cost index multiplies depending on cost changes of materials and labor together. Labor costs are a major factor on the housing cost index. In addition, certain types of materials and labor input to housing construction greatly influence price fluctuations. Thus, it is found that managing those main cost factors is the key for effective cost management.

• 한국건설관리학회논문집
• /
• 제4권4호
• /
• pp.220-226
• /
• 2003

주택원가지수는 주택건설사업에 투입되는 각종 자원들의 물가변동을 단일지수 형태로 표현한 자료로 이를 통하여 주택원가의 가격변동 수준에 대한 적정성을 판단할 수 있다. 본 연구에서는 국내 기초 통계자료에 대한 검토결과를 토대로 주택원가지수를 작성할 수 있는 방법을 검토하고 사례연구를 통하여 주택원가지수를 제시하였다 본 연구에서 제시한 지수를 활용함으로써 주택건설 원가의 변동을 용이하게 파악하며 공사비 실적자료의 활용성 제고를 위한 기반을 제공하고자 한다.

• 유통과학연구
• /
• 제17권1호
• /
• pp.11-19
• /
• 2019

Purpose - We document the impact of economic policy uncertainty (EPU) in the US and China on the dynamic spillover effect of macroeconomics such as stock price, housing price in Korea. Research design, data, and methodology - We use the nine variables to analyze the effect which produces a result among the EPU indexes of the US and China on economic variables which is the consumer price index (CPI), housing purchase price composite index, housing lease price, the stock price index in banking industry, construction industry and distribution industry, and composite leading indicator from January 1995 to December 2016 with the Vector Error Correction Model. Result - The US EPU index has significantly a negative relation on the CPI, housing purchase price index, housing lease price index, the stock price index in banking industry, construction industry, and distribution industry in Korea. Conclusions - We find the dynamic effect of the EPU indexes in the US and China on the macroeconomics returns in Korea. This study has an empirical evidence that the economy market in Korea is influenced by the EPU index of the US rather than it of China. The higher EPU, the more risky the economy of in Korea.

• 한국건설관리학회논문집
• /
• 제7권5호
• /
• pp.77-84
• /
• 2006

지수는 여러 산업분야에서 오랜시간 동안 경제지표 또는 성과지표로서 중요한 역할을 담당해 왔으며, 실적공사비 적산방식이 적용 확대됨에 따라 2004년 2월부터 시간에 대한 보정을 위하여 건설공사비지수를 사용하고 있다. 건설공사비지수를 산출하기 위한 구성요소는 지수산정식과 자료원으로 구분된다. 기존의 건설관련 공사비지수에서는 물가지수산정에 사용하는 라스파이레스(Laspyeres)지수를 산정식으로 적용하고 산업연관표, 공사비 내역서를 사용하여 가중치를 산정하였다. 그러나, 기존의 방법은 물가변동이 중복 적용되고 대상프로젝트의 특성을 효과적으로 반영하지 못하는 문제점이 발생된다. 본 연구에서는 라스파이레스지수를 비롯한 기존 지수 산정식들을 분석하고, 공동주택공사의 사례를 통하여 기존 지수산정식 및 자료원의 적정성을 분석한 후, 건설공사의 특성을 효율적으로 반영하고 물가변동을 반영할 수 있는 새로운 지수를 제안한다.

• 한국건축시공학회:학술대회논문집
• /
• 한국건축시공학회 2005년도 추계 학술논문 발표대회
• /
• pp.117-120
• /
• 2005

The business market of architecture has got a system that controls a deposit according to the price function. This system is written on a law of contract about countries. So the main body of construction has to make a reasonable contract. This study is written about a rate of numerical index on controling a deposit. We tried to fine problems and solutions of labor expenses, instrument costs and material costs which is so big and changable on the construction market Labor expenses are expressed according to the rate of construction scale between direct and indirect cost that applies ability of works. Instrument costs are expressed according to an output method of a unit price annually and a weight allowance of local instrument conditions and use frequence. The last material costs expressed according to a local weight allowance make a decision of the material cost index. They applies locally relative index more than absolute one on what uses the price rate of producers and importations. This solutions are not enough to apply to the real market, so it needs to exam and to be on the market after a feasibility study.