• Title/Summary/Keyword: Cost Variance

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An Improved Cost Management Method for ERP System (ERP시스템의 원가 운영 개선 방안)

  • Ahn, Min-Sub;Park, Dong-Gyu
    • Journal of the Korea Institute of Information and Communication Engineering
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    • v.14 no.4
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    • pp.795-802
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    • 2010
  • Currently, the business environment has been rapidly changed due to the fast globalization and development of information technology. Therefore, many companies are trying to change their management system by improving their own decision making systems and innovations. Many domestic enterprises are introducing or considering the ERP system. In the field of ERP management accounting, there are many auxiliary functions for helping efficient internal management analysis for company. In this paper, we proposed and developed an improved method for minimize the variance between standard cost and actual cost of materials of the company. In this method we proposed efficient ERP cost management system considering current cost component including currency and actual material cost and overhead costs.

A Study on the Optimum Weight Vector of Linearly Constrained Conditions (선형 제한 조건의 최적 가중 벡터에 대한 연구)

  • Shin, Ho-Sub
    • Journal of the Korea Society of Computer and Information
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    • v.16 no.5
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    • pp.101-107
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    • 2011
  • The optimum weight vector is studied to remove interference and jamming signals in adaptive array antenna system. The optimum weight vector is calculated to apply a minimum variance algorithm and cost function in linearly constrained conditions, and accurately estimates target's signal. Adaptive array antenna system is the system which improves signal to noise ratio(SNR) and decreases interference and jammer power. Adaptive array antenna system delays at tap output of antenna array element. Each tap finally makes the complex signal of one in multiplier complex weight. In order to obtain optimum's weight calculation, optimum weight vector is used in this paper. After simulation, resolution is increased below $3^{\circ}$, and sidelobe is decreased about 10 dB.

A Review of Large-Scale Hydropower Project in Public Sector of Pakistan

  • Umair, Muhammad;Choudhary, Muhammad Abbas;Jahanzaib, Mirza
    • Journal of Construction Engineering and Project Management
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    • v.4 no.4
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    • pp.47-59
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    • 2014
  • Client organization inadequate project planning before awarding the contract and insufficient monitoring and control system among the parties involved create severe problems. Ultimately, large-scale projects go beyond the expected cost and time control limits. This paper discusses the major issues involved with a large-scale Hydropower Project in Pakistan Public Sector environment. The latest approved Baseline Plan of project was reviewed and analyzed using Variance Analysis and Trend Analysis techniques in Primavera project management software to assess the efforts made of the parties involved. It was found that Project is 202% Cost overrun and 25% time delays from original contract award. After analysis of baseline plan and quantification of various variance issues in impacted activities, the questionnaire survey was conducted to identify the impact of causative factors. There were almost 17 most significant causative factors identified among 60 identified factors and responsibilities are assigned accordingly. At the end recommendations are made for strategic decisions as lessons learned during project evaluation.

A Study on SOA Dimming Driver with Current Pattern Design Capability (전류 패턴의 설계가 가능한 SOA Dimming Driver에 관한 연구)

  • Lee, Juchan;Eom, Jinseob
    • Journal of the Korean Institute of Illuminating and Electrical Installation Engineers
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    • v.27 no.2
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    • pp.22-28
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    • 2013
  • In this paper, the low cost SOA Dimming Driver which consisted of LabVIEW programming part capable of current pattern design, DAQ module for analog voltage output, and voltage to current converter has realized. The output current(possible to 3A) from the Driver was clearly constant without ripple and also showed no variance until 1mA unit for a long time operation. The proposed low cost Driver can replace the previous high cost SOA Drivers for wavelength swept lasers fully and provide the convenience and safety of auto-supplying a designed current pattern.

Risk-based Optimal Transmission Expansion Planning (위험도기반 최적송전확장계획)

  • Son, Min-Kyun;Kim, Dong-Min;Kim, Jin-O
    • Proceedings of the KIEE Conference
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    • 2006.11a
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    • pp.393-395
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    • 2006
  • In competitive market, it is important to establish a plan of transmission expansion considering uncertainty of future generation and load behavior. For this reason, revised transmission expansion model is proposed in this paper. In the proposed model, information of predictable future condition are included in a cost function of transmission expansion investment. Also, to reduce risk of the investment, mean-variance Markowitz approach is added to the objective function of cost. By optimization programming, the most robust and the minimum cost plan can be obtained.

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Finding Cost-Effective Mixtures Robust to Noise Variables in Mixture-Process Experiments

  • Lim, Yong B.
    • Communications for Statistical Applications and Methods
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    • v.21 no.2
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    • pp.161-168
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    • 2014
  • In mixture experiments with process variables, we consider the case that some of process variables are either uncontrollable or hard to control, which are called noise variables. Given the such mixture experimental data with process variables, first we study how to search for candidate models. Good candidate models are screened by the sequential variables selection method and checking the residual plots for the validity of the model assumption. Two methods, which use numerical optimization methods proposed by Derringer and Suich (1980) and minimization of the weighted expected loss, are proposed to find a cost-effective robust optimal condition in which the performance of the mean as well as the variance of the response for each of the candidate models is well-behaved under the cost restriction of the mixture. The proposed methods are illustrated with the well known fish patties texture example described by Cornell (2002).

An Application of the Monte Carlo Method to the Economical Circuit Design in Consideration of the Drift Reliability (표류신뢰도를 고려한 경제적 회로 설계에 대한 몬테칼로법의 적용)

  • Kyun-Hyon Tchah
    • 전기의세계
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    • v.24 no.5
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    • pp.72-80
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    • 1975
  • In this paper an application of the Monte Carlo method to optimum circuit design is discussed. T. Tsuda and T. Kiyono's algorithm based on the Monte Carlo method for solving multiple simul-taneous nonlinear equations is generalized to apply it to finding solutions of the constrained nonlinear optimization problem. The generalized algorithm derived here is directly applied to economical circuit design. In the cirsuit design, the object function is a cost function which is related to the cost of each circuit component. The constraint is the variance of the total system expressed by the variances of each circuit component. The design is to be determined so that the circuit has specified drift reliability with minimum cost. A practical example of economical circuit design and a general nonlinear function minimization is presented with food results.

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Optimal Transmission Expansion Planning Considering the Uncertainties of the Power Market

  • Bae, In-Su;Son, Min-Kyun;Kim, Jin-O
    • Journal of Electrical Engineering and Technology
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    • v.5 no.2
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    • pp.239-245
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    • 2010
  • Today, as power trades between generators and loads are liberalized, the uncertainty level of power systems is rapidly increasing. Therefore, transmission operators are required to incorporate these uncertainties when establishing an investment plan for effective operation of transmission facilities. This paper proposes the methodology for an optimal solution of transmission expansion plans for the long-term in a deregulated power system. The proposed model uses the probabilistic cost of transmission congestion for various scenarios and the annual increasing rates of loads. The locations and the installation times of expanded transmissions lines with minimum cost are acquired by the model. To minimize the investment risk, the Mean-Variance Markowitz portfolio theory is applied to the model. In a case study, the optimal solution of a transmission expansion plan is obtained considering the uncertain power market.

Crafting an Automated Algorithm for Estimating the Quantity of Beam Rebar

  • Widjaja, Daniel Darma;Kim, Do-Yeong;Kim, Sunkuk
    • Journal of the Korea Institute of Building Construction
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    • v.23 no.4
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    • pp.485-496
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    • 2023
  • Precise construction cost estimation is paramount to determining the total construction expense of a project prior to the initiation of the construction phase. Despite this, manual quantification and cost estimation methods, which continue to be widely used, may result in imprecise estimation and subsequent financial loss. Given the fast-paced and efficiency-demanding nature of the construction industry, trustworthy quantity and cost estimation is essential. To mitigate these obstacles, this research is focused on establishing an automated quantity estimation algorithm, particularly designed for the main rebar of beams which are recognized for their complicated reinforcement configurations. The exact quantity derived from the proposed algorithm is compared to the manually approximated quantity, reflecting a variance of 10.27%. As a result, significant errors and impending financial loss can be averted. The implementation of the findings from this research holds the potential to significantly assist construction firms in quickly and accurately estimating rebar quantities while adhering strictly to applicable specifications and regulatory requirements.

The Establishment of an Activity-Based EVM - PMIS Integration Model (액티비티 기반의 EVM - PMIS 통합모델 구축)

  • Na, Kwang-Tae;Kang, Byeung-Hee
    • Journal of the Korea Institute of Building Construction
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    • v.10 no.1
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    • pp.199-212
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    • 2010
  • To establish an infrastructure for technology and information in the domestic construction industry, several construction regulations pertaining to construction information have been institutionalized. However, there are major problems with the domestic information classification system, earned value management (EVM) and project management information system (PMIS). In particular, the functions of the current PMIS have consisted of a builder-oriented system, and as EVM is not applied to PMIS, the functions of reporting, analysis and forecast for owners are lacking. Moreover, owners cannot confirm information on construction schedule and cost in real time due to the differences between the EVM and PMIS operation systems. The purpose of this study is to provide a framework that is capable of operating PMIS efficiently under an e-business environment, by providing a proposal on how to establish a work breakdown structure (WBS) and an EVM - PMIS integration model, so that PMIS may provide the function of EVM, and stakeholders may have all information in common. At the core of EVM - PMIS integration is the idea that EVM and PMIS have the same operation system, in order to be an activity-based system. The principle of the integration is data integration, in which the information field of an activity is connected with the field of a relational database table consisting of sub-modules for the schedule and cost management function of PMIS using a relational database management system. Therefore, the planned value (PV), cost value (CV), actual cost (AC), schedule variance (SV), schedule performance index (SPI), cost variance (CV) and cost performance index (CPI) of an activity are connected with the field of the relational database table for the schedule and cost sub-modules of PMIS.