• Journal of KIBIM
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• v.11 no.2
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• pp.1-16
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• 2021

Since entering the 21st century, the construction industry has developed faster and faster, and more and more technologies have been applied in the construction industry. BIM technology (Building Information Modeling) was born in this environment. The application of BIM technology can greatly improve the efficiency of cost management and help achieve the goal of cost management. But through BIM to realize project cost management, there is still no good solution. In order to solve this problem, this paper puts forward the concept of WBS structure applied to construction projects by studying the BoQ (Bill of Quantities) list based on BIM, and proposes the numbering method of the structure. The WBS (Work Breakdown Structure) structure proposed in this paper divides more than 5000 cost objects into 133 projects according to the type of work and project schedule. This structure helps to realize the application of BIM in project cost management. Although this article has studied more than 5000 data of three projects, it does not think that it can cover all cost objects in the existing construction industry. The purpose of this article is to propose a solution for cost and Process Control using BIM-based BoQ data.

• Korean Journal of Construction Engineering and Management
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• v.4 no.3 s.15
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• pp.146-152
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• 2003

In the construction project, construction supervisor influences greatly the construction managements such as process management, quality management, safety management, and cost management. Therefore, from the first stage of the project, the managing activities of the supervisor are consistently needed. But the assesment of supervisor's work and cost has not been made enough in the public construction project. And there have been doubts as to whether a supervisor can take a consistent managing activity from the early stage of the project. Accordingly, the works between Korean supervisor and foreign supervisor in their public corporations are analyzed and compared in this paper. And the evaluation is made each of the cost for supervisor and the cost for engineer as a substitute of supervisor in construction project. This study is believed to contribute to improving the supervisor's work and reducing the personnel expenses and construction indirect cost.

• Korean Journal of Construction Engineering and Management
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• v.8 no.5
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• pp.191-200
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• 2007

This paper introduces a tool for predicting potential cost overrun during project execution and for quantifying the uncertainty on the expected project cost, which is occasionally changed by the unknown effects resulted from project's complications and unforeseen environments. The model proposed in this stuff is useful in diagnosing cost performance as a project progresses and in monitoring the changes of the uncertainty as indicators for a warning signal. This model is intended for the use by project managers who forecast the change of the uncertainty and its magnitude. The paper presents a mathematical approach for modifying the costs of incomplete work packages and project cost, and quantifying reduced uncertainties at a consistent confidence level as actual cost information of an ongoing project is obtained. Furthermore, this approach addresses the effects of actual informed data of completed work packages on the re-estimates of incomplete work packages and describes the impacts on the variation of the uncertainty for the expected project cost incorporating Multivariate Probabilistic Analysis (MPA) and Bayes' Theorem. For the illustration purpose, the Introduced model has employed an example construction project. The results are analyzed to demonstrate the use of the model and illustrate its capabilities.

• International conference on construction engineering and project management
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• 2005.10a
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• pp.575-586
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• 2005

This paper presents an approach to quantifying the costs and benefits of integrating ERP systems with project management systems, including potential time and cost savings. To properly identify the costs and the benefits, the paper shows the relevant construction information flows and the desired milestones in the integration process. The proposed benefit analysis model should allow construction firms considering the integration of their ERP systems with legacy systems or commercial project management software make informed decisions in regard to the existing alternatives in the early stages of decision making.

• Asia pacific journal of information systems
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• v.6 no.1
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• pp.241-267
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• 1996

The problems like exceeding estimated cost, late due-date, expensive maintenance, insuffiency of experts and low productivity are becoming emphasized related with the software development. In order to overcome these problems and to develop the highly qualified software within the limited resources, a project management tool is used. The purpose of this study is to develop a conceptual model of the project management system which can plan, analyze and control the software development projects effectively. The model is constructed with plan and track management system, cost management system and operation management system for the efficient project management. It is named by LSD-PMS : Large-scale Software Development Project Management System. We reviewed 5 cases of project management. LSD-PMS is evaluated and reviewed by the project managers in the field. It is proved that LSD-PMS is a tool which can help project managers develop software successfully given budget and time schedule. In the future, this system should be further developed as an integrated model with system implementation tools such as CASE products.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.44 no.4
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• pp.76-84
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• 2021

Military aircraft R&D projects require large-scale investment in cost and time, and involve a complex coordination process in decision-making. The R&D project manager should determine the development management priorities as accurately as possible and focus on R&D capabilities, thereby reducing the risks of the aircraft R&D project. To this end, this study aims to reduce R&D risk by prioritizing cost, schedule, and performance, which are basic management factors used in R&D project management in defense project management regulations. Analytic Hierarchy Process (AHP) is applied using a questionnaire for managers in charge of aviation R&D under the Defense Acquisition Program Administration. As a primary result, the importance of the factors that the aircraft R&D project manager should consider was derived in the order of performance, cost, and schedule, and the priorities of performance and cost in the lower layer were also identified. In addition, in order to provide practical risk management measures to aircraft R&D project managers, the results of analyzing 28 cases of US National Transportation Safety Board accidents were compared and analyzed with the AHP analysis results, and management measures suitable for the situation were specified.

• Korean Journal of Construction Engineering and Management
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• v.21 no.2
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• pp.30-38
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• 2020

Inadequate cost management has widely been recognized as one of the most problematic areas in the Korean construction industry as many believes that public cost references are not reasonably reflecting the market conditions. 'Total Project Cost Management Guideline' developed by Ministry of Economy and Finance(MOEF) to govern public budget control has been identified as one of the main reasons for this problem. This study attempts to thoroughly review 'Total Project Cost Management Guideline' itself and quantitatively analyze the impact of it on project cost during procurement process. Different procurement methods are considered including turnkey & alternative, private contract, qualification examination, and lowest price bidding system in this quantitative impact analysis of 'Total Project Cost Management Guideline'. Analysis results shows that this governmental process works mainly as a constant cost-cutting tool throughout the procurement process.

• International conference on construction engineering and project management
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• 2022.06a
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• pp.179-187
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• 2022

The project performances can be measured in terms of meeting the project schedule, budget, and conformance to functional and technical specifications. Numerous studies have been conducted to examine the causes and effects of change orders for both vertical and horizontal construction, respectively. However, these studies mainly focus on a single project type, so this paper examines the impact of change order for cost growth and schedule overruns using four different building types to close the gap in the change order research area. A total of 211 building projects are collected from four building types: healthcare, residential, office, and education. Statistical analyses using ANOVA tests and linear regression models are used to examine the created metric $CO/day on the cost and schedule impacts. The results found that mean $CO/day values were not statistically different among building types, and that the sum of change orders is a statistically significant predictor of $CO/day. The results will help project stakeholders mitigate the negative change orders effects can be a challenge for project managers and researchers alike.

• International conference on construction engineering and project management
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• 2015.10a
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• pp.72-76
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• 2015

Capital project benchmarking requires an effective cost normalization process to compare cost performance of projects accomplished in different time and location. Existing cost normalization approaches have been established based on the assumption that all required information for cost normalization is fully identified once a project is completed. Cost normalization, however, is sometimes required to evaluate phase-level outcomes of an ongoing project where the required information is not fully available. This paper aims to provide a cost normalization procedure for phase-based performance assessment. The procedure consists of three normalization steps: currency conversion, location adjustment, and time adjustment considering various scenarios where the required information is not fully identified. This paper also presents how the cost normalization procedure has been applied to the 10-10 Performance Assessment Program, which is a phase-based performance assessment system developed by the Construction Industry Institute (CII). Both researchers and industrial professionals can apply the cost normalization procedure to studies and practices regarding to cost estimation, feasibility analysis, and performance assessment.

• Journal of Korean Society for Quality Management
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• v.33 no.3
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• pp.135-148
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• 2005

This paper considers a six sigma project for reducing the project costs through project risk management. The project follows a disciplined process of five phases: define, measure, analyze, improve, and control. A risk management process map is used to identify process input and output variables. Seven key process input variables are selected by using C&E diagram and X-Y matrix and finally four vital few input variables are selected by the related statistical analysis. The optimum alternatives of the vital few input variables are obtained by the method of PUGH matrix. The process is running on control plan and we obtained substantial project cost reductions in early stage of the control phase.