• International conference on construction engineering and project management
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• 2013.01a
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• pp.243-251
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• 2013

Cash management is a major concern for all contractors in the construction industry. It is arguable that cash is the most critical resource of all. A contractor needs to secure sufficient funds to navigate the project to the end, while keeping an eye on maximizing profits along the way. Past research attempted to address such topic via developing models to tackle the time-cost tradeoff problem, cash flow forecasting, and cash flow management. Yet, little was done to integrate the three aspects of cash management together. This paper, as such, presents a comprehensive model that integrates the time-cost tradeoff problem, cash flow management, and cash flow forecasting. First, the model determines the project optimal completion time by considering the different alternative construction methods available for executing project activities. Second, it investigates different funding alternatives and proposes a project-level cash management plan. Two funding alternatives are considered; they are borrowing and company own financing. The model was built as a combinatorial optimization model that utilizes ant colony search capabilities. The model also utilizes Microsoft Project software and spreadsheets to maintain an environment that incorporates activities, their durations, and other project data, in order to estimate project completion time and cost. Ant Colony Optimization algorithm was coded as a Macro program using VBA. Finally, an example project was used to test the developed model, where it acted reliably in maximizing the contractor's profit in the test project.

• Asia pacific journal of information systems
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• v.13 no.2
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• pp.199-217
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• 2003

Based on the IS literature on software project risk management, we developed an integrated model to investigate the risk factors and risk management factors in project development. We also analyzed the interrelation between project risk and project risk management. The questionaries are collected from 83 project leaders. We tested reliability and validity of the measure and analyzed the obtained data. The results support our risk-based hypothesis that shows the importance of risk management in reducing project risks and improving performance of project and process.

• International Journal of High-Rise Buildings
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• v.3 no.3
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• pp.199-204
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• 2014

W-Project is 70-story mixed-use residential building complex project in Busan, the second biggest city in South Korea. As it is a high rise building complex located at the coast, the residents have great ocean view from the height. Though, there were many difficult challenges to be solved to secure structural safety and meet the serviceability requirements. As it is located on the reclaimed land, securing the foundation bearing capacity on soft soil is the first issue to be solved for the stable structure. W-Project. Busan on the way usual track of typhoon, wind load on structure is also critical for structural safety and serviceability for occupants due to wind vibration. This paper will address process of lateral load resisting structural system of W-Project.

• Proceedings of the Korean Institute of Building Construction Conference
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• 2010.05a
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• pp.207-211
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• 2010

As mega-sized and complex building construction projects are increased, the importance of project scheduling and control is emphasized. Project scheduling and control technic is not used widely yet in Korea, but interests in it is progressively increased. By now, most research projects mainly have focused on scheduling issues. Project progress management is also as much important as project scheduling issues. Current state about project progress management in Korea is analysed and way for improvements are suggested in this paper. At first, research projects undergone and practice are analysed and fields experts are survey about current state about project progress management. This study suggests the progress management method for quantitative and qualitative project progress analysis.

• Journal of Construction Engineering and Project Management
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• v.5 no.2
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• pp.35-43
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• 2015

Project Management Consultant (PMC) plays a vital role in the overall performance of any project. Selecting right PMC for right project is the most crucial challenge for any construction owner. Thus, PMC selection is one of the main decisions made by owners at the early phase of construction project. It is not easy for the project owner to select a competent PMC due to the fuzziness, imprecision, vagueness, incomplete and qualitative criteria of the decision. This paper presents a model for selecting PMC contractor using the Fuzzy Analytical Hierarchy Process (FAHP). And a fuzzy number based framework is proposed to be a viable method for PMC contractor selection. A case study to illustrate the application of the model is also presented in this paper.

• Journal of KIBIM
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• v.8 no.2
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• pp.1-9
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• 2018

Nowadays Building Information Modeling (BIM) is a significant source of sharing project information in the construction industry. This method of sharing the information enhances the project understanding among stakeholders. Modeling of information using BIM is becoming an essential part of many construction projects around the globe. Despite rapid adoption of BIM in construction industry still, some sectors of the industry like earthwork have not yet reaped its full benefits. BIM has brought a paradigm shift through identification and integration of the roles and responsibilities of project participants on a single platform. BIM is a 3D model-based process which provides the insight into the efficient project planning and design. The 3D modeling can also be used significantly for the design of temporary structures in an earthwork project. This paper presents the quantity take-off methodology and parametric modeling technique for creating the temporary structures using 3D BIM process. A case study is conducted to implement the proposed temporary structure family design on a real site project. The study presented is beneficial for the earthwork project stakeholders to extract the relevant information using 3D BIM models in a project. It provides an opportunity to calculate the quantity of material required for a project accurately.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• autumn
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• pp.274-277
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• 2003

The Theory of Constraints (TOC) is an approach and a philosophy that is used to develop specific management techniques. It was first popularized by the novel, The Goal, that applied the principles to operations management. Since 1997 it has found application in two areas within project management. The first application is scheduling of a single project to reduce project duration and simplify project control. there is a further application to allocate resources that are shared by concurrent project. It is the objective of this paper to explore the fundamentals of critical chain and to pursue an application of critical chain method to construction project by a case study.

• The Journal of Fisheries Business Administration
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• v.50 no.3
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• pp.73-86
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• 2019

The purpose of this study is to provide logical and policy justification for the feasibility and sustainability of the project through analysis of economic ripple effects of the fishing village new deal 300 project. To do this, we applied the industry-related analysis, which is mainly used to analyze the economic ripple effects, to the fishing village new deal 300 project. The industry association analysis classifies the detailed project of the preliminary plan for the selection of the business into the software business such as the hardware business and the capacity enhancement in the construction field and analyzes the economic ripple effect through the inter-industry association. As a result, it is expected that the fishing village new deal 300 project will have a positive economic impact. When the total investment of 3 trillion won is invested in the project, it is estimated that the production inducement effect and the value added effect are 5,545.3 billion won and 2,102.7 billion won, respectively. In addition, 62,005 get job inducements, where 10,952 employment inducements were associated with job creation. The analysis of the above impacts seems to have secured the logical justification for the implementation of the fishing village new deal 300 project.

• International conference on construction engineering and project management
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• 2009.05a
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• pp.841-846
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• 2009

Recently, the construction industry is getting more complex and sophisticated having the characteristics of a mega project. Mega project pursues a value that can't be gained with an approach of seeing a project as just a simple sum of different parts but a mutual combination. However, the current manuals can't fulfill the needs for supporting, therefore, need a tool to support the decision making and an IETM is expected to take this role. Despite the a lot of expected advantages of IETM, it is still difficult to apply because of the frequent changes of information of detailed process and its complexity. In this research, as part of developing an IETM, we aim to propose a system frame which is based on the analysis of processes of a project. It is basic part of IETM to give information to users and IETM consists of normal mode that offers general information about the urban regeneration project and user-specified mode that gives classified and reorganized information to user. For supporting these functions, IETM should be stored in a form that can classify the information about urban regeneration project and be tagged with meaningful tags. Moreover IETM developers have to consider the interoperability of IETM because it ultimately should be coordinated with overall Project Management System like an iPMIS. We used XML for solution of interoperability because it stores information as just text-file that doesn't need a special form.

• International conference on construction engineering and project management
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• 2013.01a
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• pp.352-358
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• 2013

As amount of information in construction industry is growing, the role of information system in project management is becoming increasingly important. With the emerging IT application to the advancing construction industry, construction project management system with advanced technology has been progressed vigorously to improve construction productivity and management efficiency. Recently, a web-based Project Management Information System (PMIS) is developed to support decision-making process by efficiently managing project related information generated from various discipline. Many firms are in the process of developing the PMIS system or already have been applied the system to various projects. However, PMIS is still in its early stage of development to be applied at industrial plant construction projects that process management is significantly emphasized for the successful execution of the project. With the complexity of the industrial plant projects, the industry practitioners need to be able to visualize the construction schedule information to manage the project efficiently. This study suggests methodologies for improving PMIS specialized for industrial plant piping construction projects to estimate the baseline schedule and performance measurement more accurately by developing a framework for the piping construction projects. By using this developed system, the researchers expect that piping construction projects will be more efficiently managed on a real-time basis through measuring progress of piping at each and every state of progress milestone and provide management with opportunities to forecast the level of efforts required to execute the remaining work scope in a timely manner