• International conference on construction engineering and project management
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• 2013.01a
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• pp.488-493
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• 2013

Accurate initial cost estimates are essential to effective management of construction projects where many decisions are made in the course of project management by referencing the estimates. In practice, the initial estimates are frequently derived from historical actual cost data, for which standard distribution-based techniques are widely applied in the construction industry to account for risk associated with the estimates. This approach assumes the same probability distribution of estimate errors for any selected estimates. This assumption, however, is not always satisfied. In order to account for the probabilistic nature of estimate errors, an alternative method for measuring the risk associated with a selected initial estimate is developed by applying the Bayesian probability approach. An application example include demonstrates how the method is implemented. A hypothesis test is conducted to reveal the robustness of the Bayesian probability model. The method is envisioned to effectively complement cost estimating methods that are currently in use by providing benefits as follows: (1) it effectively accounts for the probabilistic nature of errors in estimates; (2) it is easy to implement by using historical estimates and actual costs that are readily available in most construction companies; and (3) it minimizes subjective judgment by using quantitative data only.

• Composites Research
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• v.19 no.5
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• pp.34-39
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• 2006

The mechanical properties and durabilities of fiber advanced composites make them ideal for widespread applications in construction worldwide. However, one of the problems of fiber reinforced advanced composites has expensive initial costs. So the efforts for lowering the initial cost have to be needed. There has been hardly assessment results of life cycle cost for fiber reinforced advanced composites in construction field, but some papers showed that total life cycle cost could be profitable, if the initial cost could be reduced. The purpose of this paper is to report assessment results of LCC(Life Cycle Cost) for application of FRP(Fiber Reinforced Plastic) in construction field.

• Journal of the Korean GEO-environmental Society
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• v.8 no.3
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• pp.11-18
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• 2007

This paper studied the economical efficiency of ground source heat pump system under various conditions in apartments which have important effects on the housing market. And this study analysed the initial cost increase, saved managing cost and recovery time of initial cost. Analysis result showed as time of heating-cooling and water heating increases, the amount of saved managing cost increased much than the initial construction cost, so recovery time shortened. And as the net area of apartment increases, the recovery time increased. The study of the relation between the installation type and recovery time of initial construction cost showed when heat-cooling system adapted ground source heat and water heating system adapted waste heat, the initial construction cost was recovered most quickly. When Ground Source Heating system was used for the heating-cooling and water heating system, ground source heating system was used for the heating-cooling and waste heat used for water heating, and ground source heating system was used for the heating-cooling and LNG used for water heating, the construction cost increased 72,000, 66,900 and 62,300 won each per $m^2$ compared to the current system (package air-conditioner, heating and water heating using LNG).

• Proceedings of the Korean Institute of Building Construction Conference
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• 2021.05a
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• pp.329-330
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• 2021

The calculation of the correct construction value in the construction should be investigated after the quantity is calculated. In order to calculate the quantity requires a lot of cost and time, and the initial accurate quantity calculation is not possible. Therefore, in the planning step in order to successfully complete the project to demonstrate the practicality of the difference between the construction cost by the construction design by presenting a method for calculate the quantity through the estimate with the construction open, floor plan, surface view, section.

• Composites Research
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• v.19 no.1
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• pp.43-48
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• 2006

High performance fiber reinforced cement composites have better performances than traditional cement based materials, therefore, have been expected as new construction applications such as the materials for construction & bridge structure, repair and rehabilitation applications, anti-collapse applications, anti-noise applications etc. However, they have lots of the problems such as material design, fabrication method and structural analysis. Also, the most serious problems of High performance fiber reinforced cement composites have been expensive initial cost, lack of long-term exposure data. As a result, it is needed that the efforts for lowering the initial cost and accumulation of long-term exposure. There has been hardly assessment results of life cycle cost for HPFRCC in construction field, but some papers showed that total life cycle cost could be profitable if the initial cost could be reduced.

• Proceedings of the KSR Conference
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• 2011.10a
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• pp.400-405
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• 2011

The total length of Korean urban railways reaches 1,200km. Urban railway used to be installed with ballasted tracks by reason of low cost at the time of construction, slab tracks are now being installed due to the reasons of the improvement in safety, lengthening service life and more economical method in terms of maintenance. The length rate of slab tracks has exceeded 70% of the domestic urban railways with the methods ranging from STEDEF, LVT, ALT, Eidan-type, B2S to RHEDA. This study surveyed the share of domestic slab tracks, and compared and evaluated the input cost at the initial stage by the types of slab tracks. Construction processes have been standardized by the existing design documents and calculated the initial input cost for the length of 1km of a hypothetical straight line. Cost breakdown structure was evaluated as materials cost, construction cost, equipment cost, indirect cost, etc. It is expected that this study will be used in selection & evaluation which is considering the economic feasibility of slab tracks.

• International conference on construction engineering and project management
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• 2009.05a
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• pp.1242-1247
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• 2009

The sudden changes in the construction market and the progressively intensifying price wars have amplified the importance of the construction cost estimation in the initial and planning phases of construction projects. However the methodologies and process of estimating construction cost in the planning and design phase are not standardized in the domestic market, in contrast to the markets of more developed countries. Therefore this paper proposes a new approximate estimation model to be used from the initial stages of construction projects. This methodology that extracts, modifies and synthesizes comparable elements of previous cases. This will introduce the foundation for the implementation of systems with improved usability and applicability.

• Proceedings of the Korean Institute of Building Construction Conference
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• 2016.05a
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• pp.87-88
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• 2016

In order to assess the design value of engineering work from the point of view of LCC (Life Cycle Cost) in Korea, it is mandatory for all construction works that the total construction costs are over 10 billion won. The LCC includes initial construction costs, maintenance & operation costs, energy costs, end-of-life costs, and so on. Among these, the portion for maintenance & operation costs for a building is sizeable, as compared to the initial construction costs. Furthermore, the paradigm for construction industry has rapidly shifted from 2D to BIM, which includes design planning and data management. However, the study of BIM-based LCC analysis is not adequate today, even though all domestic construction projects ordered by the Public Procurement Service have to adopt BIM. Therefore, this study suggests a methodology of BIM-based LCC analysis that is particularly focused on repair and replacement (R&R) cost. For this purpose, we defined requirements of calculating R&R cost and extracted X from the relevant IFC data. Thereafter, we input them to the ontology of calculating the initial construction costs to obtain an objective output. Finally, in order to automatically calculate R&R cost, mapping with R&R criteria was performed. We expect that our methodology will contribute to more efficiently calculate R&R cost and, furthermore, that this methodology will be applicable to all range of total LCC. Thus, the proposed process of automatic BIM-based LCC analysis will contribute to making LCC analysis more fast and accurate than it is at present.

• International conference on construction engineering and project management
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• 2009.05a
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• pp.417-424
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• 2009

For a construction project to progress smoothly, effective cost estimation is vital, particularly in the conceptual and schematic design stages. In these early phases, despite the fact that initial estimates are highly sensitive to changes in project scope, owners require accurate forecasts which reflect their supplying information. Thus, cost estimators need effective estimation strategies. Practically, parametric cost estimates are the most commonly used method in these initial phases, which utilizes historical cost data (Karshenas 1984, Kirkham 2007). Hence, compilation of historical data regarding appropriate cost variance governing parameters is a prime requirement. However, precedent practice of data mining (data preprocessing) for denoising internal errors or abnormal values is needed before compilation. As an effort to deal with this issue, this research proposed a statistical methodology for data preprocessing and verified that data preprocessing has a positive impact on the enhancement of estimate accuracy and stability. Moreover, Statistically Preprocessed data Based Parametric (SPBP) cost models are developed based on multiple regression equations and verified their effectiveness compared with conventional cost models.

• Korean Journal of Construction Engineering and Management
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• v.17 no.5
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• pp.54-61
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• 2016

The initial planned annual cost is frequently adjusted under the construction process in construction projects. If the annual cost is reduced than the initial planned cost, the number of possible activities is also reduced from initial planned progress schedule. In such cases, project manager need to replan the progress schedule with possible activities within changed annual cost. However, most project manager will proceed as planned schedule without any change. After the project cost has been exhausted, there are many cases to stop the operation of the construction site. This study developed active 5D CAD system that can replan the progress schedule within changed annual cost and simulate the cost status according to the changed schedule for cost visualization. This system can be used as a decision-making tool in the replaning progress schedule and will be able to increase the practical usability of 5D CAD system.