• Journal of Construction Engineering and Project Management
• /
• v.5 no.1
• /
• pp.20-25
• /
• 2015

Interface management problems inherent in construction projects hamper their successful delivery. Therefore, this study aimed at determining the most important project interfaces in construction works in Nigeria in terms of most significant potential impacts, so that management attention are objectively focused on potential highest impacting project interfaces. From a review of literature, 28 project interfaces management issues were identified and categorized. Structured questionnaires were used to collect data concerning the impact (estimated losses to the project in terms of cost) and probability of occurrence of the identified interfaces. The interfaces were ranked using their computed Matrix Scores (MS). The results reveal that "project-workers interfaces problem manifested in use of inappropriate mixes" is the highest impacting. A ranking of the interface categories also reveal that the interfaces at the execution phase of a project (MS = 1226.79) are those that could result in the highest losses to the project.

• Plant Journal
• /
• v.5 no.1
• /
• pp.51-59
• /
• 2009

The global plant construction market has grown dramatically since 2000. As the market grows, domestic EPC contractors are expanding to meet its needs and have made great strides in terms of economic indicators from a decade ago. Larger projects involve a number of risk factors, such as volatile oil prices, however, and thus require quantitative and elaborate project management techniques for the ultimate success of a project's profitability. In addition, many Korean companies face difficulties in predicting potential risks and problems due to a lack of experience in dealing with the global market trend toward projects based on the Cost-re(Cost Reimbursable) contract as opposed to those based on the LSTK(Lumpsum Turnkey) contract. This study will examine methods and types of man-hour management according to plant project contract types. Further, it will explore the man-hour management system for successful completion of projects by satisfying the client's needs and enhancing the convenience in engineers' using the system. Additionally, this study will analyze the current system and identify its problems to address potential problems.

• Korean Journal of Construction Engineering and Management
• /
• v.20 no.1
• /
• pp.141-150
• /
• 2019

In the overseas plant construction market, the domain construction firms' construction capability has been greatly improved, but the capability of project management is evaluated to be insufficient compared to the technical aspect. Project management capabilities from the initial planning stage of project execution are regarded as the core competence of advanced construction companies. Among them, it is urgent to improve the capacity of conceptual estimate for domestic companies. In this study, the researchers surveyed and analyzed the methodology of estimating project cost in the planning phase of the plant project and developed an estimation method by conducting a case study analysis. Based on the logic of the cost index and parametric estimation method among the existing estimation methodology, the estimation tool was developed by deriving the input and output variables tailored to the plant project. The validity of the proposed methodology was evaluated by comparing the accuracy between the project estimate amount of the case project and the actual project amount. In order to increase the utilization of the developed conceptual estimate methodology,for plant construction project, it is necessary to systematize the data of the historical project data. Increasing the accuracy of future project cost estimates is directly related to increasing project award and profitability of the domestic construction company.

• International conference on construction engineering and project management
• /
• 2015.10a
• /
• pp.114-116
• /
• 2015

This paper presents a Stochastic Time-Cost Tradeoff analysis system (STCT) that identifies optimal construction methods for activities, hence reducing the project completion time and cost simultaneously. It makes use of schedule information obtained from critical path method (CPM), applies alternative construction methods data obtained from estimators to respective activities, computes an optimal set of genetic algorithm (GA) parameters, executes simulation based GA experiments, and identifies near optimal solution(s). A test case verifies the usability of STCT.

• Korean Institute of Interior Design Journal
• /
• v.13 no.3
• /
• pp.197-204
• /
• 2004

This study aims at the development of a cost management system in building interior projects. Renovation and remodeling is activated and expanded much more being compared with new building construction at present. After Interior project proceeding must get out of simple estimate and assumption, then its be needed a formal work process and computerized cost management. Proceeding a building interior project management was proceed in the office and the field. Cost break down, especially, depend on the field manger and used fiend managing money because its not checked by cost manager in office manger. For this study, cost factors are defined in terms of cost break-down interior works which consist of materials and labors. A data model for cost factors was developed, and a relational database is used to realize cost data management based upon this data model. Data input and output are achieved by internet from both of wired PC and mobile phone. This system can timely display a number of needed reports for cost management that identifies cash flow and predicts budget for cost break-down works in interior projects.

• Journal of Korea Society of Digital Industry and Information Management
• /
• v.8 no.4
• /
• pp.53-62
• /
• 2012

U-City means the high-tech city that applied ubiquitous technology and information communication technology. U-City aims to intensify urban competitiveness and to improve the quality of residents' life through efficient management of the urban. Currently, 77 U-City projects is underway. The each project cost and scale estimate is not clear in the absence of the U-Service Standardization Model. So, many of the project are trouble about making a production the proper number of U-Service or the cost of project. The excessive service construction is reflected on the construction costs, which leads to the rise of sales price and passes onto the executor of a project as a burden of the project costs, and the problem of the delay of the change-over occurs due to supporting the operation costs for the operation of the constructed service and the demand for additional installation of facilities between a local autonomous entity and the executor of a project. In this paper, we suggested the U-Services Construction Standardization Methods and proposed the standardization services guideline of crime prevention services. U-City services in the future are able to maintain the consistency of the system through the utilization of the proposed standard model. As a result, the U-City project's pre-estimated cost and scale can be extracted.

• Journal of the Korean Society of Industry Convergence
• /
• v.26 no.5
• /
• pp.855-866
• /
• 2023

With the rapid advancement and sophistication of defense weapon systems, the government, military, and the defense industry have conducted various innovative attempts to improve the efficiency of post-logistics support(PLS). The Ministry of Defense has mandated RAM-C(Reliability, Availability, and Maintainability-Cost) analysis as a requirement according to revised Total Life Cycle System Management Code of Practice in May 2022. Especially, for the project budget forecast of new PBL(Performance Based Logistics) business contacts, RAM-C is recognized as an obligatory factor. However, relevant entities have not officially provided guidelines or manuals for RAM-C analysis, and each defense contractor conducts RAM-C analysis with different standards and methods to win PBL-related business contract. Hence, this study aims to contribute to the generalization of the analysis procedure by presenting a cost analysis case based on RAM-C for the supply of military depot maintenance PBL project. This study presents formulas and procedures to determine requirements of military depot maintenance PBL project for repair parts supply. Moreover, a sensitivity analysis was conducted to find the optimal cost/utilization ratio. During the process, a correlation was found between supply delay and total cost of ownership as well as between cost variability and utilization rate. The analysis results are expected to provide an important basis for the conceptualization of the cost analysis for the supply of military depot maintenance PBL project and are capable of proposing the optimal utilization rate in relation to cost.

• Journal of the Korean Operations Research and Management Science Society
• /
• v.38 no.2
• /
• pp.25-42
• /
• 2013

We consider a project time-cost tradeoff problem with two milestones, where one of the jobs has an uncertain processing time. Unless each milestone is completed on time, some penalty cost may be imposed. However, the penalty costs can be avoided by compressing the processing times of some jobs, which requires additional resources or costs. The objective is to minimize the expected total costs subject to the constraint on the expected project completion time. We show that the problem can be solved in polynomial time if the precedence graph of a project is a chain.

• Proceedings of the Korean Institute of Building Construction Conference
• /
• 2014.05a
• /
• pp.162-163
• /
• 2014

Operation and maintenance stage consists the largest portion of project life cycle cost. Appropriate management and analysis of such stages have massive effect on the total project cost. The effective prediction of optimized repair period is one of main factors in ㅌ management. However, it has been analyzed that the prediction of appropriate repair period revealed limitations in reliability. Therefore, this study suggests a methodology of repair period prediction by dividing finished projects into similar groups with same properties to be compared with the target project using quantitative variables.

• International conference on construction engineering and project management
• /
• 2007.03a
• /
• pp.653-661
• /
• 2007

Overseas construction projects tend to be more complex than domestic projects, being exposed to more external risks, such as politics, economy, society, and culture, as well as more internal risks from the project itself. It is crucial to have an early understanding of the project condition, in order to be well prepared in various phases of the project. This study compares a structural equation model and multiple regression analysis, in their capacity to predict cost performance of international construction projects. The structural equation model shows a more accurate prediction of cost performance than does regression analysis, due to its intrinsic capability of considering various cost factors in a systematic way.