• Title/Summary/Keyword: Cost and duration management

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DEVELOPMENT OF A WEB-BASED COST AND DURATION MANAGEMENT SYSTEM FOR MEGA-PROJECTS

  • Chang-Taek Hyun;Run-Zhi Jin;Myoung-Jin Son;Seung-Yoon Shin
    • International conference on construction engineering and project management
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    • 2011.02a
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    • pp.510-515
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    • 2011
  • Urban renewal projects, in the form of mega-projects, are being actively implemented both nationally and internationally to revitalize inactive cities. These programs, however, are difficult to manage efficiently due to their need for a large budget over a long period of time and due to conflicts with stockholders. Moreover, existing cost and duration management systems are structured with emphasis on the design and construction stage of unit projects, thus limiting their application to long-term mega-projects that are integrated with various facilities. To solve these problems, this study developed a web-based system that can collectively manage the cost and duration of mega-projects at a program level. The unit modules included in the system--CBS organization, construction cost and duration prediction, and total cost and duration prediction--can support decision-making at the early stage of the program. Furthermore, the modules, which include contract management, execution management, change management, and program progress management, support the program operations for its successful accomplishment. The web-based cost and duration management system developed in this study is expected to be used as a valuable tool that supports the successful accomplishment of mega-projects through their efficient management throughout their life cycle.

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A STUDY ON DURATION ESTIMATE METHOD USING STOCHASTIC MODEL IN THE BIM ENVIRONMENT

  • Jae H. Park;Seok H. Yun;Joon H. Paek
    • International conference on construction engineering and project management
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    • 2009.05a
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    • pp.1209-1215
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    • 2009
  • Recently, Construction Projects are being much bigger and more complex. So the importance of Construction Planning and Management is increasing and increasing because of the Construction Projects is involved in a variety of construction-related subjects. Competitive of the Construction Industry decided Cost, Construction Duration and Productivity. But they were just focused on Cost Saving instead of Construction Duration and Productivity. However, they have to finish construction projects using minimum cost and duration with quality and function of required level for successful Construction projects. Thus, current high exchange rate and high period, it is clear to decrease construction cost and to do economic construction in huge Construction Projects and it means more advanced Construction Schedule Management needs for economic construction. But Construction Scheduling Planning, basic of Construction Schedule Management, adjusted contract period without Pre-Planning, just depending on experience and ability of Construction Engineer. Because of that, this study suggests new Duration Estimate Method using Stochastic Model in BIM Environment for advanced Construction Schedule Management. Existing Duration Estimate Methods are just modified wrong points of them or analyzed effective factors of construction schedule. However, New Duration Estimate Method is just consists of Stochastic Model and BIM Environment without existing Duration Estimate Methods. So, new method has creativity and specialty. After this research, it would be a great model in construction industry field.

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FORECASTING THE COST AND DURATION OF SCHOOL RECONSTRUCTION PROJECTS USING REGRESSION ANALYSIS

  • Wei Tong Chen;Ying-Hua Huang;Shen-Li Liao
    • International conference on construction engineering and project management
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    • 2005.10a
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    • pp.892-896
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    • 2005
  • This paper collected 132 schools reconstruction projects in central Taiwan, which received the most serious damage from the Chi-Chi Earthquake. Regression analysis was implemented to build the prediction model of the cost and the duration for the collected projects. It is found that the cubic regression models are capable for predicting the cost and the duration of the projects contracted by the central agency of which the contracting awarding approach was based on the most advantageous tendering (MAT) approach. On the other hand, power regression models are capable for predicting the cost and the duration of the projects contracted through the low bid tendering (LBT) approach. It is also found that the performance of the regression prediction model differs in accordance with organizations that contracted the reconstruction projects.

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Prediction of Final Construction Cost and Duration by Forecasting the Slopes of Cost and Time for Each Stage (공사 진행단계별 기울기 추정을 통한 최종 공사비 및 공기 예측)

  • Jin, Eui-Jae;Kwak, Soo-Nam;Kim, Du-Yon;Kim, Hyoung-Kwan;Han, Seung-Heon
    • Proceedings of the Korean Institute Of Construction Engineering and Management
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    • 2006.11a
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    • pp.137-142
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    • 2006
  • Cost and duration is important factors which directly affect profit therefore must be forecasted correctly to accomplish success of projects. So construction company uses EVMS(Earned Value Management System) to forecast final cost and duration. But previous forecasting model has low accuracy because of its linear forecasting method and can't reflect characteristic of company and project and changes as each progress. This paper presents cost and duration forecasting model using the slope prediction of cost and duration as each progress to reflect the various characteristics of construction industry. EVMS data of 23 road construction projects was used to make up regression analysis equation of slope forecasting model.

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COST ANALYSIS OF STRUCTURAL PLAN FOR REDUCING FRAMEWORK CONSTRUCTION DURATION OF REINFORCED CONCRETE RESIDENTIAL BUILDINGS

  • Seon-Woo Joo;Moonseo Park;Hyun-Soo Lee
    • International conference on construction engineering and project management
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    • 2009.05a
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    • pp.493-498
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    • 2009
  • Recently, the number of complex construction projects, such as high-density development and long-span mega structure construction, has been increasing globally. Therefore, the construction duration has become an even more important factor for success. Nevertheless, in domestic residential construction projects, it usually takes more time than twice as much as North American cases. The long construction duration causes a number of problems, for example growth of financial costs, fall in productivity, and weakness of competitiveness. If the framework construction duration can be shortened to 3 ~ 4 days, then it is also expected to complete the finish work of building in shorter duration, be led to reduce the entire construction duration, and eventually to save a great deal of indirect costs. For shortening the construction duration, previous researches pointed out that the development of simplified plan design should precedes. But, in reality, lack of experience of new design and innovative techniques tends to be the obstacle to wide adoption of the simplified plan design in construction fields. In this paper, a simplified structural plan design is proposed, and the construction cost is quantitatively compared between when traditional construction technique is applied to the traditional plan and when the duration-shortening key technique is applied to the developed plan.

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Effects of Extending Duration of Nighttime Road Construction (도로품질 향상을 위한 야간 도로공사 시간확대의 영향분석)

  • Lee, Dongmin;Choi, Junseong;Park, Jejin;Park, Yongjin
    • International Journal of Highway Engineering
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    • v.19 no.5
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    • pp.153-162
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    • 2017
  • PURPOSES : This study was conducted to analyze the effects arising from extending the duration of nighttime road construction on improving road quality and durability. METHODS : Most previous studies estimating the social cost of various construction conditions did not consider road pavement cooling time as a factor in improving road pavement quality. This study investigated the feasibility of achieving higher road quality and durability by extending the duration of nighttime road construction time extension. For this investigation, the effects of such an extension on traffic conditions were analyzed based on micro-simulation studies and scenario-based cost-benefit analyses, using factors including traffic volume, delay, construction cost, and road pavement cooling time. RESULTS : The results of the traffic simulation studies and cost-benefit analyses indicate that the current road construction method that emphasizes completing nighttime road construction by 6 a.m. reduces pavement life while causing relatively little traffic delay. If the night construction time is instead extended to 2 p.m., road pavement lifetime is increased, reducing road re-construction cost. These savings are greater than the cost of congestion arising from extending the duration of nighttime construction. CONCLUSIONS : The current nighttime construction durations need to be extended in order to efficiently manage roads and reduce road management costs.

A Study on the Estimate Criteria and Influence Factors of Construction Duration of Domestic Firms -Focused on the Apartment Building Firms- (국내 건설 업체 공기산정 기준 및 영향요인 연구 -공동주택 중심으로-)

  • Kim Sun-Yeop;Kim Sun-Kuk;Han Choong-Hee
    • Proceedings of the Korean Institute Of Construction Engineering and Management
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    • 2004.11a
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    • pp.447-450
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    • 2004
  • The domestic construction industry have focus on duration than construction cost. But recently it have interesting to The domestic construction industry, social requirement is changing. At the moderate speed duration has other angle of reducing cost and management of efficiency. specially Apartment building construction process is similar to other construction industry so it Is obtain a strong Point. This study on, A Target of construction industry is short duration than other it, general construction duration in summary schedule of level is studied, is based and construction duration for the point it is indicated reduction duration

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FORECASTING THE COST AND DURATION OF SCHOOL RECONSTRUCTION PROJECTS USING ARTIFICIAL NEURAL NETWORK

  • Ying-Hua Huang ;Wei Tong Chen;Shih-Chieh Chan
    • International conference on construction engineering and project management
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    • 2005.10a
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    • pp.913-916
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    • 2005
  • This paper presents the development of Artificial Neural Network models for forecasting the cost and contract duration of school reconstruction projects to assist the planners' decision-making in the early stage of the projects. 132 schools reconstruction projects in central Taiwan, which received the most serious damage from the Chi-Chi Earthquake, were collected. The developed Artificial Neural Network prediction models demonstrate good prediction abilities with average error rates under 10% for school reconstruction projects. The analytical results indicate that the Artificial Neural Network model with back-propagation learning is a feasible method to produce accurate prediction results to assist planners' decision-making process.

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A Note on Sudden Death Tests (sudden death 시험에 대한 고찰)

  • Seo, Sun-Keun
    • Journal of Applied Reliability
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    • v.12 no.3
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    • pp.139-152
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    • 2012
  • Successive and simultaneous sudden death tests are compared with the complete and Type II censored samples in terms of expected test duration and Total Time on Test(TTT) subject to the same number of failures in order to maintain the equal statistical precision under Weibull lifetime distribution with known shape parameter. Also, two sudden death tests under a proposed cost model are discussed and a numerical example is provided to illustrate the use of the proposed cost model.

Framework for Estimating Appropriate Construction Duration of CFRD in the Planning Phase

  • Kim, In Kyum;Kim, Kyong Ju;Yun, Won Gun
    • International conference on construction engineering and project management
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    • 2015.10a
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    • pp.604-605
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    • 2015
  • To secure quality of dam construction needs appropriate construction duration. Tight construction schedule may have negative influence on infrastructure quality, work safety and maintenance cost. It is necessary to reflect proper construction duration in the planning phase. There have been standards for estimating construction duration of building and industrial complex development but dam construction have not. In order to estimate construction duration of CFRD, feasible study reports and design reports were analyzed to acquire available information. After that, considering on construction duration methods such as comparison with similar cases, approximate estimating formula, approximate quantity assumption were adapted to Critical Path items. Hence, this study present framework for construction duration estimating of CFRD in the planning phase. This framework can be applied other types of dam along the same line.

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