• Journal of the Korean Institute of Landscape Architecture
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• v.33 no.3 s.110
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• pp.84-93
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• 2005

The purpose of this study is to analyze the economic feasibility of the construction of a new ecological park, based on the case of a plan in Yeongcheon City. For fulfilling the purpose of this study, questionnaire survey was conducted in Yeongcheon City. Based on the survey data, cost-benefit analysis is conducted. For this study, costs and benefits of the project are estimated. Then, using NPV, IRR, and B/C ratio criteria, cost-benefit analysis for this study is conducted. from the empirical cost-benefit analysis, NPV of the proposed project is estimated at 5,420 million Won, IRR is estimated at 12.16%, and B/C ratio is estimated at 1.44. Thus, it is found that the construction of a new ecological park in this area would be feasible from the economic point of view.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• autumn
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• pp.265-270
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• 2002

Frequent design changes or unnecessary project executions due to illogical practice, lack of feasibility study and, hasty drive have raised problems of budget waste in Korean construction projects. Since the MOCT (Ministry of Construction & Transportation) published Master Plan for budget efficiency for government projects, there have been a lot of policy efforts for budget saving. However, it has been pointed out that cost management at the pre-construction phase, which greatly influences the cost still remains imperfect. The target cost for government clients is not being estimated reasonably, and cost controlling at the pre-construction phase is not yet being carried out properly for keeping the budget. Therefore, improved construction cost management at the pre-construction phase was proposed in this paper. The cost management systems of advanced countries were investigated for it, and the issues were drawn from the cost management systems of these countries. On the basis of the issues, the present conditions and problems of domestic construction cost management at the pre-construction phase were analyzed for suggestion.

• Proceedings of the Korean Society of Agricultural Engineers Conference
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• 1999.10c
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• pp.359-364
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• 1999

Providing the reasonable construction cost at the initial stage of the rural development project, is a kety factor of the each step of project , such as propriety analysis , cost planning , design, and planning the progress of work. The explainable construction cost can be estimated at the early stage using the actual cost data by statistical analysis. In this study, the influence factors are extracted by factor analysis with the actual cost data of rural development project, object cost model is developed by multiple regression analysis, and verify the developed cost model by Monte-Carlo simulation .

• Proceedings of the Korean Institute of Building Construction Conference
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• 2018.05a
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• pp.294-295
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• 2018

Nowadays, the construction industry utilizes 3D models in the designing process, on which research is being conducted to establish an automated system for project cost estimation in connection with information related to construction such as material unit costs and wages, beyond the level of design interference review and construction quantity estimation. In this process, the project cost is estimated in connection with unit price data after takeoff the quantity based on the 3D model attributes and data types. A way to reduce cost and risk would be first developing prototypes of some of essential buildings and works, comparing and validating the outcomes, and then extending to the whole scope, because estimates differ on the basis of the scope and level of 3D design models as well as the data accuracy. This study analyzes case studies of project cost estimation by computing the quantity on the basis of 3D model in the construction industry and explores methodologies and management measures applicable for estimating nuclear power plant construction project costs.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• 2004.11a
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• pp.510-514
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• 2004

This research is a preliminary one to investigate transitional problems of actual-cost-date-based contract cost estimation method and suggestions for counteracting them. As parts of it, in this paper, the brief background and methods of the new method and contract costs estimated by introducing it are presented. The results of five projects' contract costs are compared to those estimated by the conventional quantity-based method. Comparison of the both is conducted in terms of total contract costs and contract costs according to type of sub-contracts. Finally, the propositional differences of the later to the former are analysed.

• Journal of the Korea Institute of Building Construction
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• v.22 no.4
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• pp.371-378
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• 2022

The Ryomyong Street project is the only construction project for which the construction cost is known, but its scale cannot be estimated because it is marked in North Korean Won. In this paper, the construction cost per m² of North Korean apartment building construction was calculated based on the construction and assembly amount of the Ryomyong Street project. 160 to 1 was calculated as the ratio of the building construction cost per m² between South and North Korea based on the Ryomyong Street project in Pyongyang and Seoul Housing & Communities Corporation. This ratio can be used to assume the construction size presented in North Korean won as there is no official exchange rate between the two Koreas.

• Journal of Korean Society of Steel Construction
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• v.22 no.1
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• pp.55-65
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• 2010

To effectively secure and execute the national budget, it is very important to estimate the reasonable construction cost of each process in the construction of public facilities and works. The construction cost is generally estimated at the time when the design of the targeted structures has been completed. Without detailed sectional drawings and with only simple information on bridge structures in the planning stage or in the early design stage. it would be very difficult to predict the approximate construction cost. In this study, a more efficient and appropriate approximate construction cost estimation model in the planning stage and in the early design stage is presented and verified as reliable by analyzing the construction cost data of 61 existing steel box girder bridges from previous studies. The results of this study show that when the construction cost that was predicted using the construction cost estimation model in the design stage was compared with the cost from the conventional standards, the suggested model in this study produced results with a very high confidence level.

• Korean Journal of Construction Engineering and Management
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• v.2 no.2 s.6
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• pp.90-97
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• 2001

The paper considers non-deterministic methods of analysing the risk exposure in a cost estimate. The method(referred to as the 'Monte Carlo simulation' method) interprets cost data indirectly, to generate a probability distribution for total costs from the deficient elemental experience cost distribution. The Monte Carlo method is popular method for incorporating uncertainty relative to parameter values in risk assessment modelling. Non-deterministic methods, they are here presented as possibly effective foundation on which to risk management in cost estimating. The objectives of this research is to develop a computerized algorithms to forecast the probabilistic total construction cost and the elemental work cost at the planning stage.

• Korean Journal of Construction Engineering and Management
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• v.9 no.3
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• pp.65-74
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• 2008

Public institutions recognize the importance of cost management from the planning stage but they do not have an organized construction cost estimation and management system. Thus, at the stage of planning a new public construction project and estimating the cost, those in charge of budgeting estimate construction cost based on existing data and experiences, compare construction cost estimated after the basic design stage and the execution design stage with budgets, and then decide whether to continue the project or change the design according to the budgets. Therefore, we would develop the cost prediction model through regression analysis that can predict construction cost in Schematic Design Phase of the Public Multi-Family housing. Accordingly, if public institutions have a construction cost prediction model and management system that can estimate the optimum construction cost, they can make and execute budgets in a more efficient way than they do at present.

• Journal of Construction Engineering and Project Management
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• v.2 no.3
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• pp.40-47
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• 2012

Construction management is essential for a achieving any pre-determined objective. It is however seen that in spite of construction management, majority of the project do not keep up their original time schedule and their completion cost is also higher as compared with the estimated cost The main reason for overrun in time and cost is that the planning at the outset of the project was not adequate or method of planning was not a refined one. In this research work, I showed the overall conditions of construction work and management in Sylhet city of Bangladesh and found many drawbacks in the construction management after completing my research. I found several factors affecting proper construction management and I have provided brief results. I have also provided some recommendations after my research work.