• 제목/요약/키워드: Cost and duration management

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Time-Profit Trade-Off of Construction Projects Under Extreme Weather Conditions

  • Senouci, Ahmed;Mubarak, Saleh
    • Journal of Construction Engineering and Project Management
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    • 제4권4호
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    • pp.33-40
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    • 2014
  • Maximizing the profitability and minimizing the duration of construction projects in extreme weather regions is a challenging objective that is essential for project success. An optimization model is presented herein for the time-profit trade-off analysis of construction projects under extreme weather conditions. The model generates optimal/near optimal schedules that maximize profit and minimize the duration of construction projects in extreme weather regions. The computations in the model are organized into: (1) a scheduling module that develops practical schedules for construction projects, (2) a profit module that computes project costs (direct, indirect, and total) and project profit, and (3) a multi-objective module that determines optimal/near optimal trade-offs between project duration and profit. One example is used to show the impact of extreme weather on construction time and profit. Another example is used to show the model's ability to generate optimal trade-offs between the time and profit of construction projects under extreme weather conditions.

Forecasting Project Cost and Time using Fuzzy Set Theory and Contractors' Judgment

  • Alshibani, Adel
    • 국제학술발표논문집
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    • The 6th International Conference on Construction Engineering and Project Management
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    • pp.174-178
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    • 2015
  • This paper presents a new method for forecasting construction project cost and time at completion or at any intermediate time horizon of the project duration. The method is designed to overcome identified limitations of current applications of earned value method in forecasting project cost and time. The proposed method usesfuzzy set theory to model uncertainties associated with project performance and it integrates the earned value technique and the contractors' judgement. The fuzzy set theory is applied as an alternative approach to deterministic and probabilistic methods. Using fuzzy set theory allows contractors to: (1) perform risk analysis for different scenarios of project performance indices, and (2) perform different scenarios expressing vagueness and imprecision of forecasted project cost and time using a set of measures and indices. Unlike the current applications of Earned Value Method(EVM), The proposed method has a numberof interesting features: (1) integrating contractors' judgement in forecasting project performance; (2) enabling contractors to evaluate the risk associated with cost overrun in much simpler method comparing with that of simulation, and (3) accounting for uncertainties involved in the forecasting project cost.

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PROBABILISTIC MODEL-BASED APPROACH FOR TIME AND COST DATA : REGARDING FIELD CONDITIONS AND LABOR PRODUCTIVITY

  • ChangTaek Hyun;TaeHoon Hong;SoungMin Ji;JunHyeok Yu;SooBae An
    • 국제학술발표논문집
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    • The 4th International Conference on Construction Engineering and Project Management Organized by the University of New South Wales
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    • pp.256-261
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    • 2011
  • Labor productivity is a significant factor related to control time, cost, and quality. Many researchers have developed models to define method of measuring the relationship between productivity and various constraints 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 contains the average productivity data of the construction industry, and it is difficult to predict the time and cost of any particular project; hence, there are some errors in estimating duration and cost for individual activity and project. To address these issues, this research collects data, measures productivity, and develops 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 and it is possible that the result will be used as the EVMS baseline of cost management and schedule management.

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The Development of Probabilistic Time and Cost Data: Focus on field conditions and labor productivity

  • Hyun, Chang-Taek;Hong, Tae-Hoon;Ji, Soung-Min;Yu, Jun-Hyeok;An, Soo-Bae
    • Journal of Construction Engineering and Project Management
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    • 제1권1호
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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.

A CBR-BASED COST PREDICTION MODEL FOR THE DESIGN PHASE OF PUBLIC MULTI-FAMILY HOUSING CONSTRUCTION PROJECTS

  • TaeHoon Hong;ChangTaek Hyun;HyunSeok Moon
    • 국제학술발표논문집
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    • The 3th International Conference on Construction Engineering and Project Management
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    • pp.203-211
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    • 2009
  • Korean public owners who order public multi-family housing construction projects have yet to gain access to a model for predicting construction cost. For this reason, their construction cost prediction is mainly dependent upon historic data and experience. In this paper, a cost-prediction model based on Case-Based Reasoning (CBR) in the design phase of public multi-family housing construction projects was developed. The developed model can determine the total construction cost by estimating the different Building, Civil, Mechanical, Electronic and Telecommunication, and Landscaping work costs. Model validation showed an accuracy of 97.56%, confirming the model's excellent viability. The developed model can thus be used to predict the construction cost to be shouldered by public owners before the design is completed. Moreover, any change orders during the design phase can be immediately applied to the model, and various construction costs by design alternative can be verified using this model. Therefore, it is expected that public owners can exercise effective design management by using the developed cost prediction model. The use of such an effective cost prediction model can enable the owners to accurately determine in advance the construction cost and prevent increase or decrease in cost arising from the design changes in the design phase, such as change order. The model can also prevent the untoward increase in the duration of the design phase as it can effectively control unnecessary change orders.

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Identification of Factors Affecting Time and Cost Performance in Vietnam Construction Projects

  • Long, Le-Hoai;Lee, Young-Dai;Lee, Jun-Yong
    • 한국건설관리학회:학술대회논문집
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    • 한국건설관리학회 2007년도 정기학술발표대회 논문집
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    • pp.728-731
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    • 2007
  • In-planned duration and cost at project closing are the two of criteria of successful project and successful project management. In Vietnam, regularly, construction projects are delayed and their costs are overrun. This research employed a questionnaire survey to elicit the causes of this situation by interviewing 87 Vietnamese construction experts. After processing data, 21 causes of delay and cost overruns appropriate with building and industrial project in construction stage were inferred and ranked. Spearman's rank correlation tests showed that there're no differences in the viewpoints between parties in project.

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A Production-Installation Simulation Model of Free-Form Concrete Panels

  • Lim, Jeeyoung;Lee, Donghoon;Na, Youngju;Lim, Chaeyeon;Kim, Sunkuk
    • 국제학술발표논문집
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    • The 6th International Conference on Construction Engineering and Project Management
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    • pp.401-404
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    • 2015
  • Demand on free-form buildings is gradually increasing, yet owing to the difficulty of production-installation work, several problems occur in the construction phase upon construction of a building, including the increased cost and construction duration, and reduced constructibility. To solve these problems, a techonology to produce FCP using a CNC(Computerized Numeric Control) machine is developed. The technology is that the information of designed free-form buildings to the CNC machine is transferred, and the transferred information is used for RTM(Rod-Type Mold, the mold shaped by back-up rods) and PCM(Phase Change Material) shaping, and the shaped RTM and PCM have the role of molds to produce FCP. Construction duration and project cost are limited in building sites, so the efficiency of processes like production-installation of FCP for application of the technology is significant. Since it is almost impossible to change the production-installation process at the construction phase when they are established, process should be deliberately decided. Therefore, the purpose of the study is to propose a production-installation simulation model of free-form concrete panels, in aspect of PCM. This paper is establishing the process for production-installation of FCP, estimating time required by each construction type and proposing a time simulation model that changes according to various constraints based on the analyses. With the time simulation model, it will be possible to build a cost model and to review the optimal construction duration and project cost.

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공동주택 거푸집 공사의 생산성 분석을 위한 시뮬레이션 모델 개발 (Development of a Simulation Model for the Productivity Analysis of Form Work in Multi-Family Housing Construction projects)

  • 강동완;문현석;현창택
    • 한국건축시공학회:학술대회논문집
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    • 한국건축시공학회 2009년도 추계 학술논문 발표대회
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    • pp.193-198
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    • 2009
  • It is an important issue in cost management to contract with the standard of cost estimate by the reasonable way in public construction projects. For the standard of cost estimate based on the Standard Estimating System, there is a difference of labor inputs between Standard Estimating System and actual quantities in construction projects. The duration of form work in multi-family housing depends on the manpower compared with other work, which is the critical path on the schedule management to be decided quality, and is the important to the cost management of construction projects. This study presented a simulation model of the productivity analysis for selecting the standard work type of form work in Multi-family housing construction projects.

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Challenges to Prevent in Practice for Effective Cost and Time Control of Construction Projects

  • Olawale, Yakubu A.
    • Journal of Construction Engineering and Project Management
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    • 제10권1호
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    • pp.16-32
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    • 2020
  • Cost and time control of projects is important in preventing project failure. However, achieving effective cost and time control in practice is often challenging. The challenges of project cost and time control in practice are investigated by carrying out a questionnaire survey on the top 150 construction contractors in the UK followed by in-depth semi-structured interviews of practitioners from 15 construction companies in the country. Quantitative analysis reveals that design change is the most important factor inhibiting the ability of UK contractors from effectively controlling both the cost and time of construction projects. Four of the top five factors inhibiting effective cost control are also the top factors inhibiting effective time control albeit in a different order. These top factors-design changes, inaccurate evaluation of project time/duration, risk and uncertainty, non-performance of subcontractors and nominated suppliers were also found to be endogenous factors to the project. Additionally, qualitative analysis of the interviews reveals 16 key challenges to prevent for effective project cost and time control in practice. These are classified into four categorised based on where they stem from as follows; from the organisation (1. Lack of integration of cost and time during project control, 2. lack of management buy-in, 3. complicated project control systems and processes, 4. lack of a project control training regime); from the construction management/project management approach (5. Lapses in integration of interfaces, 6. project control not being implemented from the early stages of a project, 7. inefficient utilisation and control of labour, 8. limited time devoted to planning how a project will be controlled at the outset); from the client; (9. Excessive authorisation gates, 10. use of adversarial and non-collaborative forms of contracts, 11. communication problems within client set-up, 12. obstructive client representatives) and; from the project team (13. Lack of detailed/complete design, 14. lack of trust among the project partners, 15. limited time devoted to project control on site, 16. non-factual reporting). The study posits that knowledge of these project control inhibiting factors and challenges is the first step at ensuring they are avoided and enable the implementation of a more effective project cost and time control process in practice.

SWOT 분석을 통한 건설기업의 공기경쟁력 강화 전략 (Competitive Advantage Strategy of Construction Duration by SWOT Analysis)

  • 김선국;이현수;류한국
    • 한국건설관리학회논문집
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    • 제7권2호
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    • pp.109-117
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    • 2006
  • 건설산업의 경쟁은 신규 건설시장 축소, 최저가 입찰제도, 주 5일근무제도, 후분양제도의 도입 등에 따라 더욱 심화되고 있다. 이러한 건설환경의 급격한 변화는 산업의 주축을 이루고 있는 건설사들로 하여금 변화에 적응하고 더 나아가 새로운 환경을 선도하기 위한 다각적인 노력을 요구하고 있다. 그러나 건설공사는 공기지연을 유발하는 수많은 불확실성이 존재하고 있으며 이러한 불확실성에 대한 인식과 그에 따른 체계적인 전략수립과 관리가 부진한 경우 건설공사의 공기경쟁력을 확보하는 것은 매우 어렵다. 이에 본 연구는 적정 공사기간의 확보, 공기단축의 필요성, 기존의 공정전략 수립에 대한 연구가 부족함을 인식하고 건설사의 전반적인 전략 수립이 아닌 공기경쟁력 확보 측면에서 연구의 범위를 한정하였다. 본 연구는 건설산업의 대내외적 환경 분석과 SWOT 분석을 통하여 공기경쟁력 확보를 위한 전략을 수립하고 이를 이행하기 위한 선결과제를 도출하는 것을 목적으로 한다.