• International conference on construction engineering and project management
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• 2011.02a
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• pp.1-6
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• 2011

As large-scale building projects have recently increased for the residential, commercial and office facilities, construction costs for these projects have become a matter of great concern, due to their significant construction cost implications, as well as unpredictable market conditions and fluctuations in the rate of inflation during the projects' long-term construction periods. In particular, recent volatile fluctuations of construction material prices fueled such problems as cost forecasting. This research develops a time series model using the Box-Jenkins approach and material price time series data in Korea in order to forecast trends in the unit prices of required materials. Building information modeling (BIM) approaches are also used to analyze injection times of construction resources and to conduct quantity take-off so that total material prices can be forecast. To determine an optimal time series model for forecasting price trends, comparative analysis of predictability of tentative autoregressive integrated moving average (ARIMA) models is conducted. The proposed BIM-based time series forecasting model can help to deal with sudden changes in economic conditions by estimating material prices that correspond to resource injection times.

• Proceedings of the Korean Geotechical Society Conference
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• 2010.09a
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• pp.457-464
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• 2010

Ever since the introduction of high strength steel pipe strut(POSTRUT) in 2008, there has been over 50 applications domestically. The merits of construction period reduction and cost savings have been well reported abroad in countries such as America, Europe and China but ever in domestic projects or ground condidtions. 25 actual construction projects were investigated and statistically analyzed to evaluate the quantitative effects of POSTRUT. Also the construction projects along with the cautions that should be taken and the structural behavior differences between POSTRUT and H-section struts are briefly described in this paper.

• Proceedings of the Korean Institute of Building Construction Conference
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• 2014.05a
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• pp.58-59
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• 2014

EVM(Earned Value Management) is a management methodology for integrating scope, schedule and resources, and for objectively measuring project performance and progress. EVMS(Earned Value Management System) has been used for the performance measurement of R&D and construction projects in developed countries such as United States, United Kingdom and Australia. The nuclear power plant (NPP) projects in Korea have not applied EVMS. However, EVMS has come into request for overall schedule and cost risk management and performance measurement in overseas project of the nuclear power plant as a contractor. In this paper, based on the global EVMS guidelines, EVMS per unit processes have been developed for NPP projects. Moreover, using Business Process Management (BPM), it proposes an integrated process model with tasks, roles, and procedures for EVMS for NPP construction projects.

• Journal of the Korean Society of Safety
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• v.24 no.3
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• pp.25-31
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• 2009

Safety engineers should be reasonably assigned to construction sites in order to prevent accidents specially for large-scaled projects. More engineering-oriented safety engineers should be assigned to those large-scaled projects because accident causes are found to be due to more technical aspects rather than general safety problems. more experienced engineers should be assigned to larger scaled projects for covering more technical aspects. This one is analyzed by the existing accident results. This study is to find out some formulae to calculate how many safety engineers should be assigned to construction sites, by amounts, by project kinds, by project scales, by engineer grades. So that construction contractor can assign them to their site economically.

• International conference on construction engineering and project management
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• 2009.05a
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• pp.1000-1014
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• 2009

Research sponsored by the Korean Government investigated the establishment of a risk management process by Korean contractors involved with plant projects in the Middle East. This research effort builds upon the work completed by the Construction Industry Institute (CII), called the International Project Risk Assessment (IPRA) tool and method, and also explored how CII's Project Definition Rating Index (PDRI) could be incorporated to improve project planning by addressing risks and scope development issues. Specific findings and recommendations were developed including the creation of the Contractor Critical Areas of Concern (CCAC) risk screening tool for Korean contractors pursuing Middle East oil and gas projects.

• International conference on construction engineering and project management
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• 2015.10a
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• pp.376-380
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• 2015

Life-Cycle Cost Analysis (LCCA) for highway projects is known as an effective analytical technique that uses economic principles to evaluate long-term alternative investment options, especially for comparing the values of alternative pavement design structures and construction strategies. In the Unites States, the 2012 Moving Ahead for Progress in the 21^st Century Act (MAP-21) amended the United States Code to mandate that the United States Government Accountability Office (GOA) conducts a study of the best practices for calculating life-cycle costs and benefits for the federally funded highway projects in 2013. The RealCost 2.5CA program was developed and adapted as an official LCCA tool to comply with regulatory requirements for California state highway projects in 2013. Utilization of this California-customized LCCA software helps Caltrans to achieve substantial economic benefits (agency cost and road user cost savings) for highway projects. Proper implementation of LCCA for roadway construction and rehabilitation would deliver noticeable savings of agency's roadway maintenance cost especially in developing counties where financial difficulties exist.

• Korean Journal of Construction Engineering and Management
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• v.16 no.2
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• pp.86-96
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• 2015

Real estate market has rapidly grown by active use of project financing in the early 2000s. However, many projects have been in trouble due to global economic recession after that period. It is mainly because those projects were pushed forward a business without comprehensive business feasibility analysis. This paper investigated current evaluation system for real estate development projects and then introduced new evaluation system including evaluation factor and criteria for real estate development projects to prevent implementation of the project without business value and to be able to evaluate potential projects in objective manner. This new evaluation system for real estate development projects can be applied to any type of real estate development projects by modifying evaluation items and weighting factor in accordance with the type and characteristics of project. Through the new evaluation system, the evaluation process for real estate development projects will be able to be standardized, be consistent, and the results of evaluation can be accumulated in consistent way.

• International conference on construction engineering and project management
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• 2022.06a
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• pp.967-974
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• 2022

It is no news that Nigeria's infrastructure challenge is enormous. In the global ranking, Nigeria ranked low in quantity and quality of its infrastructural provision which has a great impact on the ease of business transaction. Low investments in transportation have brought about the current infrastructural deficit. Recently, the Nigerian government has made effort to address at least to some extent the infrastructural deficit through Public-Private Partnership, but this has not yielded the desired result. Moreover, the sustainability issues relating to railway projects such as, emissions, noise pollution, ecosystem, and other environmental issues calls for urgent attention. Hence, this necessitated consideration on sustainability appraisal for the Chinese rail project in Nigeria. This study reviews sustainability of railway projects built by the Chinese firm in Nigeria with particular emphasis on the environmental and social impact of these projects. The study further identified issues and challenges in project implementation with a particular focus on civil dialogue and community engagements. A detailed literature search was conducted on railway projects and infrastructure by systematically reviewing selected published articles.The analysis of the selected articles identified sustainability issues and potential for improvement of Chinese railway projects and how they contribute to or inhibit competitiveness in the Nigerian railway market. From the literature searched, some of the projects constructed by Chinese firm revealed that there is economic and social impact of railway projects delivered by the Chinese firm in terms of capacity development and knowledge transfer potentiality. For instance, in the just concluded Lagos-Ibadan railway projects, the study gathered that the project brought about 5000 jobs and local staff were trained by the Chinese company, this will boost man power and local content capability. Also, it will significantly improve Nigeria's infrastructure and boost its economic development. The study suggests that Nigerian government should ensure and provide an enabling environment that is conducive for investment on the continent. Peace, improved security, and decent governance are the best conditions for sustainable transportation growth.

• Korean Journal of Construction Engineering and Management
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• v.14 no.3
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• pp.123-133
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• 2013

Green infrastructure projects have the potential to reduce global warming and deliver sustainable energy solutions. Recently, the construction industry has been expanding their portfolios in New and Renewable (NRE) projects. However, the economic feasibility of NRE projects have not been validated and construction companies are not acquainted with their associated risks. This research performed a two-tiered feasibility study of the domestic projects registered for CDM in the UNFCCC. The first phase involved calculating the average IRR and NPV of the domestic CDM projects, which showed that their profitability to be very low. In the second phase, four NRE projects (Solar, Wind, Hydro, Landfill Gas) were selected and additional income generated from Feed-in-Tariff and CER sales were added to determine the improvements in the projects' IRR and NPV. Results indicate that Solar and Landfill Gas projects benefited the most from the two support mechanisms, while benefits to Wind and Hydro projects were minimal. While the Landfill Gas project had the highest IRR, the Wind project was the most investment attractive due to its NPV and minimal dependency on FiT and CER sales. Construction companies should enter into NRE projects with a long term view as related technologies mature.

• Korean Journal of Construction Engineering and Management
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• v.7 no.3 s.31
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• pp.65-75
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• 2006

Emerging trends regarding USFK(United States Forces, Korea)'s EC(Engineering/Construction) market include: (1) introduction of MATOC(Multiple Award Task Order Contract); (2) increase of DB(Design-Build) contract; and (3) encroachment of large US-origin private EC firms upon Korea. This study analyzes the change of USFK's EC market with focus on the change of construction management actors for USFK's EC projects. Specifically, USFK's EC projects have been managed by FED(Far East District). Recently, however, the large US private EC companies substitute the role previously taken by FED. This phenomenon is accelerated by the business chances in Korea due to LPP(Land Partnership Plan) and intentions of US Government to save military construction costs by means of utilizing US private EC companies. The large US EC firms entering into Korea are business opportunities as well as challenges to Korean EC firms, which are contracting USFK's EC projects. This study concludes that, through teaming joint venture with the large US EC firms, the market changes can be opportunities to acquire foreign market information and learn advanced construction management skill from them.