• Proceedings of the Korean Institute Of Construction Engineering and Management
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• 2008.11a
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• pp.922-925
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• 2008

Many highway projects are under way in Korea. However, owners frequently find that the project cost exceeds the budget and they are unable to identify the underlining reasons. The main purpose of this research is to develop cost models for transportation projects in Korea using the multiple linear regression (MLR). The data consist of 27 completed transportation projects, built from 1991 to 2001, The technique of multiple regression analysis is used to develop the parametric cost estimating model for total budget cost per highway square meter (TBC/$m^2$). Findings of the study indicated that MLR car be applied to highway projects in Korea. There are twf) major contributions of this research. (1) the identification of transportation parameters as a significant cost driver for transportation costs and (2) the successful development of the parametric cost estimating models for transportation projects in Korea.

• Journal of the Society of Naval Architects of Korea
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• v.46 no.3
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• pp.351-361
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• 2009

Many manufacturers define the system of a new product flexibility, and take advantage of previous-product information using the product configuration concept. Product configuration is an approach that defines the system of a new product centered on the product structure by referring to the previous-product information. In this paper, it is established how to apply the concept of a product configuration utilizing previous-ships information in construction cost estimation process systematically and effectively. For this, we define the advanced-construction cost estimation process based on a naval ship product model, and design construction cost estimating model. It is validated that this process and model have the applicability through the case study of the construction cost estimating of the mine-warfare ship.

• The Journal of Fisheries Business Administration
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• v.38 no.2
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• pp.79-101
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• 2007

The purpose of this study is to estimate the economic value of the Songieong Beach in Off-season, using a Individual Travel Cost Model(ITCM). Songieong Beach is located in Busan but far away from city. These days, however, the increased rate of traffic inflow to the Songieong beach and the five-day working week are reflected in the trend analysis. Moreover, people have changed psychological value. For that reason, visitors are on the increase on the beach in off-season. The ITCM is applied to estimate non-market value or environmental Good like a Contingent Valuation Method and Hedonic Price Model etc. The ITCM was derived from the Count Data Model(i.e. Poisson and Negative Binomial model). So this paper compares Poisson and negative binomial count data models to measure the tourism demands. The data for the study were collected from the Songjeong Beach on visitors over the a week from November 1 through November 23, 2006. Interviewers were instructed to interview only individuals. So the sample was taken in 113. A dependent variable that is defined on the non-negative integers and subject to sampling truncation is the result of a truncated count data process. This paper analyzes the effects of determinants on visitors' demand for exhibition using a class of maximum-likelihood regression estimators for count data from truncated samples, The count data and truncated models are used primarily to explain non-negative integer and truncation properties of tourist trips as suggested by the economic valuation literature. The results suggest that the truncated negative binomial model is improved overdispersion problem and more preferred than the other models in the study. This paper is not the same as the others. One thing is that Estimating Value of the Beach in off-season. The other thing is this study emphasizes in particular 'travel cost' that is not only monetary cost but also including opportunity cost of 'travel time'. According to the truncated negative binomial model, estimates the Consumer Surplus(CS) values per trip of about 199,754 Korean won and the total economic value was estimated to be 1,288,680 Korean won.

• Journal of Construction Engineering and Project Management
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• v.1 no.1
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• pp.37-43
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• 2011

Labor productivity is a significant factor associated with controlling time, cost, and quality. Many researchers have developed models to define methods of measuring the relationship between productivity and various parameters such as the size of working area, maximum working hours, and the crew composition. Most of the previous research has focused on estimating productivity; however, this research concentrates on estimating labor productivity and developing time and cost data for repetitive concrete pouring activity. In Korea, "Standard Estimating" only entails the average productivity data of the construction industry, and it is difficult to predict the time and cost spent on any particular project. As a result, errors occur in estimating duration and cost for individual activities or projects. To address these issues, this research sought to collect data, measure productivity, and develop time and cost data using labor productivity based on field conditions from the collected data. A probabilistic approach is also proposed to develop data. A case study is performed to validate this process using actual data collected from construction sites. It is possible that the result will be used as the EVMS baseline of cost management and schedule management.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.33 no.2
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• pp.781-790
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• 2013

This research focuses on development of the conceptual cost estimation models for I.L.M box girder bridge. The current conceptual cost estimation for public construction projects is dependent on governmental average unit price references which has been regarded as inaccurate and unreliable by many experts. Therefore, there have been strong demands for developing a better way of conceptual cost estimating methods. This research has proposed three different conceptual cost estimating method for a P.S.C. girder bridge built with the I.L.M method. Model (I) attempts to seek the proper breakdown of standard works that are accountable for more than 95 percentage in total cost and calculates the amount of standard work's materials from the standard section and volume of I.L.M box girder bridge. Model (II) utilizes a correlation analysis (coefficient over 0.6 or more) between breakdown of standard works and input data that would be considered available information in preliminary design phase. Model(III) obtains conceptual estimating through multiple-regression analysis between the breakdown of standard works and all of input data related to them. In order to validate the clustering of coverage in the preliminary design phase, the variation of I.L.M cost coverage from multiple-regression analysis[model(III)] has been investigated which result in between -3.76% and 11.79%, comparing with AACE(Association for the Advancement of Cost Engineering) which informs its variation between -5% and +15% in the design phase. The model proposed from this research are envisioned to be improved to a great distinct if reliable cost date for P.S.C. girder bridges can be continually collected with reasonable accuracies.

• Korean Journal of Construction Engineering and Management
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• v.6 no.2 s.24
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• pp.69-79
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• 2005

The Purpose of cost Planning at the early Phase of construction Projects is to provide the clients with the appropriate cost information during the design decision-making process. Therefore, the cost planning process is expected not only to predict projects' cost accurately but also closely to coordinate with the design decision-making activities. This paper proposes a new cost planning method for the effective and efficient directions relating a design decision-making process. Strategies for this method are i ) to utilize elemental cost breakdown system, and ii ) to apply probabilistic distribution theories. Based on these strategic direction, this paper proposed a probabilistic cost planning model for high-rise office building projects. The suggested model provides appropriate cost information to meet clients limited budget and various project' requirements during the design decision-making process. This study is based on probabilistic distribution variables theories and the range estimating technique. This study also develops a web-based software program in order to apply the proposed cost planning model effectively in high-rise of office building construction practices.

• Korean Journal of Construction Engineering and Management
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• v.8 no.4
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• pp.110-118
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• 2007

For deciding the owner's budget of the building construction in the predesign stage, the probabilistic methodologies for estimating the cost are often studied, however these parameter-based conceptual estimating methodology has limitation of applying it to the practical business because it hardly can link the design decision-making and the cost estimating and control. Besides if the result of detail estimating after detail design is over the budget, locally and arbitrarily control the level of interior design and fix the design. This research proposed the prototype-based cost estimating model for building interior construction which leads to estimate the interior cost easily linking with design decision-making and supports to evaluate the design alternatives in the schematic design and the design development stage for office buildings. The model divides the building on the design process by Element Breakdown Structure and presents the design alternative by selecting the elements of each room from the database accumulated the historical office buildings' prototypes and estimates the cost. The 2 case studies presented to validate the effectiveness of as the linking tool integrating the design and construction data and applicability to the practical design on the presented prototype-based model.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• 2007.11a
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• pp.585-588
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• 2007

This study attempts to analyze estimating process and the level of information performing literature review and questionnaire and identify phased influence factors on construction cost using phased information of project and suggests framework of approximate estimation model at the planning and design stage. This paper suggests phased influence factors on construction cost and framework of approximate estimation model for integrated project cost management.

• Journal of Institute of Control, Robotics and Systems
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• v.16 no.5
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• pp.476-480
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• 2010

This study deals with stockout costs in the supply chain optimization model under the framework of batch-storage network. Stockout is very popular in chemical industries. Estimating stockout cost involves an understanding of customer reactions to a seller being out of stock at the time the customer wants to buy an item. This involves massively non-trivial work such as direct customer interviews and extensive mail survey. In this study, we will introduce a new interpretation of stockout costs combined with batchstorage network optimization model and thus suggest an easy way of estimating stockout costs. Optimization model suggest that optimal process and storage sizes considering stockout cost are smaller than those that do not consider stockout cost. An illustrative example support the analytical results.

• IE interfaces
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• v.25 no.3
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• pp.347-356
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• 2012

The acquisition cost of defense weapon system has been continuously increasing because of art-of-technology of it. This phenomenon requires efficiency and transparency in the weapon system acquisition process through cost estimation. Therefore cost estimation is very important to the government acquisition programs to support decisions about funding and to evaluate resource requirement as a key decision point. The Commercial parametric cost estimating models have been using extensively to obtain appropriate cost estimates in early acquisition phase. These models have many restrictions to ensure the cost estimating result in Korean defense environment because they are developed based on foreign R&D data. Also estimation results are different from Korean defense industry accounting system. So, some studies have been tried to develop a CER (Cost Estimation Relationship) based on the Korean historical data. However, there are some restrictions to improve the predictability and ensure the stability of the developed singular CERs which consider the following data characteristics individually. The the abnormal conditions of data that is multicollinearity, outlier and heteroscedasticity under rack of the number of observations. In this paper, a CER's Linear Combining Model is proposed to overcome those limitations which guarantee more accurate estimation (25.42% higher precision) than other singular CERs. At least, this study is meaningful as a first attempt to improve the predictability of CER with insufficient data. The methodology suggested in this study will be useful to develop a complex Korean version cost estimating model development in future.