• KSCE Journal of Civil and Environmental Engineering Research
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• v.34 no.1
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• pp.293-303
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• 2014

Recent historical unit price is presented by the Korea Institute of Construction Technology (KICT) and it is analyzed by data from large-scale projects. Therefore it has problem applying to small-scale projects. To indicate the problem, the study compared historical unit price of large-case project and small-case project in the case of civil engineering work, building construction, and mechanical facility work. As a result, average historical unit price of small-scale project was 26.6% higher than large-scale project. On the other hand, difference on the labor cost was 18.4%, difference on material cost and overheads were 8.18%. Moreover, the study proposed compensation method to correct to apply recent historical unit price to small-scale project.

• International conference on construction engineering and project management
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• 2015.10a
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• pp.77-81
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• 2015

The unit price contracting is the standard contracting method for highway projects in the U.S. As a result, state highway agencies have collected a large amount of historical bid data that they can use to determine engineer's estimates for future projects. The estimator must carefully consider various characteristics of a new project such as its location to determine an engineer's estimate as accurate as possible before bid letting. Higher cost estimates can result in the loss of the available budget and lower cost estimates may lead to deferral and delay of projects. The study uses the historical bid data obtained from Iowa Department of Transportation and develops a Geographic Information System (GIS) tool to visually show the variation of unit prices over the map using a spatial interpolation technique. The interpolation map can be used to estimate the unit price of the item at any location across Iowa. This noble method allows the estimator to effectively and fully utilize the historical bid data in a very time efficient manner and determine more accurate cost estimation.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.33 no.4
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• pp.1707-1718
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• 2013

Historical cost data estimating system has been introduced since 2004 in the construction industry. Based on contract prices of past projects, this estimating system estimates construction cost according to work types. The Korea Institute of Construction Technology (KICT) announces the historical cost data twice a year annually. The unit price of a small construction project is higher than large construction project due to the increase on production cost per work unit, equipment and labor cost, etc. However, the historical cost data estimating system is applied to project estimation uniformly regardless the construction project's size. This study compared and analyzed the historical cost data of large and small construction project to indicate the problem of historical cost date estimating system. The study derived that the unit price of a small construction project is 21.8% higher than that of large construction project.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• 2008.11a
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• pp.540-545
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• 2008

The purpose of this study is to suggest problems and improving plan of process of calculating escalation rate of the Historical Cost by price fluctuation. In order to implement this research, we analyzed problems by calculating the rate of price fluctuation with Historical Cost and measurement applying method making on-site with historical cost data were included as samples and suggested improving plan to the adjustment of contract cost. The results of research according to this are same as followings:1) Of all construction details, it is more appropriate to calculate price fluctuation by applying measurement method to the contents of historical cost unit. 2) To avoid confusion in calculating method, it was indicated that amendment in part should be achieved in order to calculate by measuring the part of calculating escalation rate of Historical Cost at related law and regulation.

• Korean Journal of Construction Engineering and Management
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• v.7 no.5
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• pp.167-176
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• 2006

It was found that Korean Standard of Estimate which has been used as the only basis of cost estimate of public construction projects had some side effects such as jerry-build construction and over-estimation because it failed to reflect the current price and the state-of-the-art construction methods in a changing construction environment. Therefore, the government decided to gradually introduce historical construction cost into cost estimate of public construction projects from 2004. This paper presents analytic criteria and a process model for deducing more current and reasonable historical construction cost for contract items from not only previous contract prices but also all of the other bid prices that were not contracted. The procedure of estimating actual unit cost proposed in this paper focuses on the removal of abnormal values including strategically too low or high prices and the time correction. In addition, basic research is conducted for the correction of actual unit cost through the analysis of fluctuation of bid price depending on bidding types and rates of successful bid. It is anticipated that the effective use of the proposed process model for estimating actual unit cost would make the cost estimation more current and reasonable.

• Korean Journal of Construction Engineering and Management
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• v.7 no.5
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• pp.159-166
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• 2006

It was found that Korean Standard of Estimate which has been used as the only basis of cost estimate of public construction projects had some side effects such as jerry-build construction and over-estimation because it failed to reflect the current price and the state-of-the-art construction methods in a changing construction environment. Therefore, the government decided to gradually introduce historical construction cost into cost estimate of public construction projects from 2004. This paper presents analytic criteria and a process model for deducing more current and reasonable historical construction cost for contract items from not only previous contract prices but also all of the other bid prices that were not contracted. The procedure of estimating actual unit cost proposed in this paper focuses on the removal of abnormal values including strategically too low or high prices and the time correction. In addition, basic research is conducted for the correction of actual unit cost through the analysis of fluctuation of bid price depending on bidding types and rates of successful bid. It is anticipated that the effective use of the proposed process model for estimating actual unit cost would make the cost estimation more current and reasonable.

• Journal of the Korea Institute of Building Construction
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• v.14 no.5
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• pp.477-485
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• 2014

Standard production unit system and historical cost data are the most typical data base for calculating budget price in construction. However, these construction cost estimation methods are difficult to calculate proper construction cost because definition, additional allowance or modification criteria is not clear in construction within one day. Therefore, this study identifies problems for standard production unit system and historical cost data and suggests the improvements for them. For the objectives, this study analyzes frequency after implementing survey for 44 specialty contractors in placing at kyeonggi-province. As the results of the study, labor costs in standard production unit system and equipment costs in historical cost data and in construction of pavement and maintenance by project type was exceeded at most high rate against construction cost estimation methods. Based on this result, standard production unit system and historical cost data need to be modified by three improvements such as classification by project scale. These will be baseline data for improvement of construction cost estimation methods for less than one day workload.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• 2007.11a
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• pp.499-502
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• 2007

The government abolished the existing method to calculate the construction price by the quantity take-off and pricing. It has introduced a new estimating system which uses the actual cost data on the basis of actual contract unit price. However, in the case of the current method to calculate the estimate price of BTL educational facilities, it is difficult to prepare an accurate ground for calculating unit prices due to a lack of standardized work breakdown structure (WBS) and guidelines for the detailed bidding documents. Thus, this research aims to establish WBS using the actual construction price on the basis of the actual bidding documents for the previous construction of BTL educational facilities. This specific WBS can be differentiated from the general WBS which is not suited for construction of the educational facility. It makes possible to build the construction information classification system and it helps to systemize the maintenance and repair cost items.

• Korean Journal of Construction Engineering and Management
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• v.10 no.4
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• pp.50-57
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• 2009

The Korea Standard of Estimate which has been used as the only basis of Cost estimate of public construction projects is failed to reflect the fluctuation of current construction cost. Therefore, the government decided to gradually introduce historical construction cost into cost estimate of public construction projects from 2004 and to reduce the use of Korean Standard of Estimate. This paper presents a series of process and the methodology for computing Actual Cost and analyzing the fluctuation patterns based on not only previous contract prices which made a successful bid but also all of the other bid prices. Also, this paper mainly handles a device for extracting strategic bid price such as low price bid for assuring reliable data and for predicting the construction cost which is built by Wavelet Analysis of Time series Analysis data and Neural Network. It is anticipated that the effective use of the proposed process for estimating actual unit cost would make the cost estimation more current and reasonable.

• ETRI Journal
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• v.42 no.4
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• pp.585-595
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• 2020

Integration of multiple communication technologies in a smart grid (SG) enables employing cognitive radio (CR) technology for improving reliability and security with low latency by adaptively and effectively allocating spectral resources. The versatile features of the CR enable the smart meter to select either the unlicensed or the licensed band for transmitting data to the utility company, thus reducing communication outage. Demand response management is regarded as the control unit of the SG that balances the load by regulating the real-time price that benefits both the utility company and consumers. In this study, joint allocation of the transmission power to the smart meter and consumer's demand is formulated as a two stage multi-armed bandit game in which the players select their optimal strategies noncooperatively without having any prior information about the media. Furthermore, based on historical rewards of the player, a real-time pricing adaptation method is proposed. The latter is validated through numerical results.