• International conference on construction engineering and project management
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• 2011.02a
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• pp.280-285
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• 2011

This study aims to propose an assessment model on environmental economics which will provide useful information in making a decision for the implementation of pro-environmental and economical construction projects. To meet the objective, this study suggests a procedure to estimate environmental cost of construction projects. The model combines environmental load assessment and environmental value assessment. The environmental cost of pollutant generated from the construction project was estimated utilizing the Contingent Valuation Method (CVM) which is a value assessment method borrowed from economic science. The devised model is expected to provide a useful methodology that will scientifically support the planning and management of sustainable construction not only in the environmental aspect but also in the economical aspect.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.34 no.2
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• pp.667-676
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• 2014

This study has conducted case studies in order to suggest alternatives to the historical data-based estimate system. Price fluctuation calculation methods based on historial cost indexes, standard estimate and construction cost indexes were applied to 9 road construction sites in Jeju for an analysis. As a result, in 5 construction sites (about 56% of 9 sites), the index control rate calculated based upon historical data-based estimate system was higher than that calculated based upon standard estimate and construction cost indexes. Thus the establishment of the requirements for the adjustment of contract price due to price fluctuation delays, which leads to a significant difference in price fluctuation amount. And, in an analysis of construction cost indexes, the indexes for road construction were used for calculating index control rate which ranges from 2.0 to 9.4 percent, indicating the time of construction amount and price fluctuation application has a significant influence on index control rate.

• Proceedings of the Korean Institute of Building Construction Conference
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• 2010.05a
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• pp.143-147
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• 2010

Due to the diversification and complication of construction projects, controlling risks from the early design-planning phase gives huge impact on success of the construction project. As a part of managing uncertainties it is also important to estimate the project cost several times. Especially, estimating project cost in the early stage gives effects on making a budget for projects. This study estimated the apartment project cost using case-based reasoning(CBR), which is the process of solving new problems based on the past problems. For this, we deduced the apartment cost influence factors which can be gathered in the early stage of project. Based on the factors we established the database for apartment project and calculated the attribute value, attribute similarity and case similarity. Although we retrieve the most similar case from the database, it is very hard to utilize it directly due to the uniqueness of each project. So, Genetic Algorithm(GA) was applied in revising the cost of the retrieved-case. Therefore, the accuracy of the prediction was improved by GA optimization.

• Proceedings of the Korean Institute of Building Construction Conference
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• 2012.11a
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• pp.153-154
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• 2012

The accuracy of cost estimation at an early stage in school building project is one of the critical factors for successful completion. So many method and techniques have developed that can estimate construction cost using limited information available in the early stage. Among the techniques, Support Vector Machine(SVM) has received attention in various field due to its excellent capacity for self-learning and generalization performance. Therefore, the purpose of this study is to verify the applicability of cost prediction model based on SVM in school building project at the early stage. Data used in this study are 139 school building cost constructed from 2004 to 2007 in Gyeonggi-Do. And prediction error rate of 7.48% in support vector machine is obtained. So the results showed applicability of using SVM model for predicting construction cost of school building projects.

• Korean Journal of Construction Engineering and Management
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• v.13 no.2
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• pp.3-10
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• 2012

The current enforcement regulation of "Construction Technology Management Act" prescribes calculation standard of environmental preservation cost in construction site. According to this standard, environmental preservation cost is calculated by using the quantity-per-unit costing method or applied fixed rate on direct cost. However, when calculated by using the quantity-per-unit costing method it is few items to put in the budget according to standard of construction estimate and in the case of using the fixed rate on direct cost it is not considering various characteristics of the construction site. Therefore, it is needed a improvement plan of estimating method and management system for environmental preservation cost. In this study, it surveyed the actual state of the environmental preservation cost according to magnitude of project, site location, anti-pollution facilities and etc. over 38 road projects. The research reported in this paper environmental preservation cost was variously distributed over construction sites. Thus it needs to estimating method and management system to consider characteristics of construction site for environmental preservation cost.

• KIEAE Journal
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• v.14 no.5
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• pp.21-28
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• 2014

To improve environmental problem as globally climate changes, domestic and foreign government have been trying to reduce green gas emitted by all industries. With making the green building certification system that assess the substantiality and energy performance of building, a governments have been using by a way for reducing green gas emitted in building industry. G-SEED(Green Standard for Energy & Environmental Design) developed in Korea have been reinforcing, and a number of projects certifying the G-SEED have been increasing continuously. As a demand of G-SEED certification is rising, a question on the additional cost data as certifying G-SEED is rising. It is because additional cost as getting the certification is important fact for G-SEED level decision and whether getting the certification or not. Therefore, this study analyzed additional construction cost as certifying G-SEED through performance improvement and design change of general office building not to get G-SEED. In conclusion, an additional construction cost ratio of G-SEED projects to the reference building is drawn as certified level; +0.26%, silver level; +2.29%, gold level; +3.89%, and platinum level; +5.48%.

• Journal of Applied Reliability
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• v.11 no.2
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• pp.187-212
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• 2011

KHP project sets total ownership cost as the target cost by applying CAIV and administrates total ownership cost through compromise analysis, a periodical estimate and management of design alternatives for each development. Based on expected cost results, sensibility of total ownership cost is analyzed complying with the change of reliability, availability, maintainability and other related factors. By considering potential total ownership cost saving methods, first of all, this paper identifies total ownership cost changing effects for each related factor, secondly, suggests total ownership cost and maintenance and operating cost saving methods via finding components that affect total ownership cost and lastly, suggests total ownership cost saving directions that may be applied to other projects in the future.

• Journal of the Korean association of regional geographers
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• v.4 no.2
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• pp.79-94
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• 1998

This study begins with emphasis on the approach to public policy development and the extent to which a GIS framework can be used to evaluate projects objectively. This paper relates to public policy making and the use of GIS as a strategic management tool rather than the development of GIS technologies which has been the focus of attention since the advent of the first generation GIS systems in the 1960s. In order to consolidate a view towards public policy, the aim of this study is to show the advantages of using GIS to generate results which could be evaluated by cost and benefit analysis giving options of the alternative methods to estimate the feasibility of projects (both tangible and intangible) in a real public policy scenario. This study also reports that the tangible benefits associated with the GIS projects are better information processing, the easy analysis of data and the cost savings of map updates and printing, whilst the intangible benefits include quality decision making, and precise management of data through computing networks. In GIS context, the task of analysing and evaluating GIS projects is assumed in order to facilitate scientific and quantitative cost-benefit analysis. Previous methods of the cost-benefit analysis has not fully supported the evaluation of the intangible benefits and it has not been possible to make public policy realistic or scientifically understandable limiting decision makers in public domain. With the GIS decision makers are able to explore the potential of projects with this powerful decision supporting tool in practical application. On the basis of its potentials and limitations to cost-benefit analysis, therefore, it can be concluded that more flexible analysis and evaluation methodologies are needed to extend into the intangible benefits. In order to balance the evaluation of both quantitative and qualitative approaches on the cost-benefit analysis new or additional utilities will be required for the next GIS generation appraisal tool.

• International conference on construction engineering and project management
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• 2013.01a
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• pp.497-501
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• 2013

An important decision-making element for the success of housing redevelopment projects is a prediction of the profitability of redevelopment. Risk factors influencing profitability were deduced through a review of the literature about profitability and a risk analysis developed by a survey of maintenance projects. In addition, a profitability prediction depending on the analysis of risk factors is necessary to judge the business feasibility of a project in the planning stages. A profitability prediction model of management and disposal method, which is calculated by proportional rate and which helps estimate contributions to profitability, is proposed to prevent difficulties in business development. The proposed model has the potential to prevent interruptions, reduce the length of projects, generate cost savings, and enable rational decision-making during the project period by allowing a judgment of profitability at the planning stage.

• Journal of Technology Innovation
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• v.6 no.2
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• pp.178-207
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• 1998

This article suggests a methodology to decide the priority of investment project for venture business under the dynamic circumstance. By the Monte Carlo procedure on the probability distribution of cost and revenue, the model simulates the investment project to estimate profit ratio and risk. The profit ratio is calculated on the yearly basis for the relative comparison. The project risk is calculated as semi-variance under the target yield. After sufficient simulations in this fashion for several projects, the efficient projects with more profit and less risk are selected by the dominance principle. Then the regression equation of the selected projects is produced to find the relative value of the projects. The relative value is obtained through dividing the raw profit ratio by the estimated one on the equation. This value shows the degree to which the simulated project yields over the equation. The priority of investment is decided by this value. An examplary venture business of chemical development for semi-conductor is presented as a case study.