• Title/Summary/Keyword: Project Delay

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Analysis of Delay Causation by Characteristics of Construction Projects (건설사업 특성에 따른 공기연장사유 분석)

  • Kim, Jong-Han;Kim, Kyung-Rai
    • Korean Journal of Construction Engineering and Management
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    • v.8 no.1 s.35
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    • pp.78-86
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    • 2007
  • Top priority to manage construction projects is given to the planning and scheduling in order to keep the project duration, which is one of the most important factors in construction management. However, recently most of public construction projects especially for civil projects are delays and preventive research, many efforts were made concerning construction delays and preventive management methods. But analysis of delay causation, which is a main key to solve the problems is not done, yet. Therefore, in this research causation delays are analyzed by characteristics of construction projects, which are type of projects, type of contracts, project participants, and general condition. As a result of the analysis, delay causation are proved to be different by characteristics of the projects. The research results will be used for prevention of time extension and dispute resolution.

A Study on a System of Resolving Claim according to the Delay of Construction Projects - Focus on Liquidated Damages - (공기지연에 따른 클레임 대응방안에 관한 연구 - 지체상금을 중심으로 -)

  • 이영민;이상범;김정길
    • Proceedings of the Korean Institute of Building Construction Conference
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    • 2002.11a
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    • pp.111-116
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    • 2002
  • The delay of the completion of the construction project occurs frequently because the origin schedule is affected by numerous factors that contribute to the overall delay in completing the project. But in our country. the dealing with a claim is not sufficient yet by reasons of fairl relation between owner and constructor, cognitive shortage in claim, and such. especially they have make a wrong application of baseless the rule. In this study. we make a rational model ; that includes calculating of dispute costs, and suggest the solution and the prevention for claim by considerating the law followed liquidated damages.

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Time to Invest in Real Asset with Option Pricing Theory - Focused on REITs - (옵션가격결정이론에 기반한 실물자산의 투자시기 결정 - 부동산투자신탁회사(REITs)를 중심으로 -)

  • Jun, Jae-Bum;Lee, Sam-Su
    • Korean Journal of Construction Engineering and Management
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    • v.11 no.6
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    • pp.54-64
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    • 2010
  • A firm decides to go to the project based on its investment analysis. However, the cash flows generated from the real project can not be always coincident with what expected as it follows uncertain behavior and the asymmetric payoff caused by the managerial flexibilities involved in the real asset affects the project value. Amongst various managerial flexibilities entailed in most of the real assets, although investment delay has been known to enhance the project value thanks to its ability to provide new market information to management, the related research to select the time to invest have been just few. Therefore, this research aims to show the theoretical framework to decide when to invest reflecting the behaviors of increasing project value and loss recovery cost due to investment delay with option pricing, related financial economic, and variational theories.

Causes of Construction Delays of Apartment Construction Projects: Comparative Analysis between Vietnam and Korea

  • Kim, Young-Mok;Kim, Soo-Yong;Luu, Truong-Van
    • Korean Journal of Construction Engineering and Management
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    • v.9 no.5
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    • pp.214-226
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    • 2008
  • Construction delay caused considerable losses to project parties. Avoiding construction delays is important to save costs for project stakeholders. The main objective of this paper is to identify major causes of construction delays of apartment construction projects in Vietnam. Sixteen causes of delay were identified through a questionnaire survey of 166 professionals. Factor analysis was employed to categorize these causes. The results of the survey revealed the main causes of delay of apartment projects in Vietnam are: (1) owner's and contractor'S financial difficulties; (2) lack of experienced contractors; (3) late delivery of materials; (4) late construction site handover; (5) owner's late payments for completed works; (6) low bid prices; (7) inappropriate construction method; and (8) defective works and unnecessary reworks. Factor analysis uncovered that causes of delay can be grouped under five categories labeled the five INs: incompetence, ineffectiveness, inadequateness, inapplicableness and inconceivableness. Comparative analysis between the Vietnam construction industry (VCI) and the Korea construction industry (KCI) has been performed to infer valuable lessons for researchers and practitioners in the VCI and the KCI. Comparative analysis indicated that main causes of delay in the VCI somewhat differ from main causes of delay in the KCI. However, "contractor'S financial difficulties", "late construction site handover", "unnecessary rework", "incapable designers", "site clearance difficulties" are common causes of delay in the VCI as well as the KCI. The findings of this research can be used as a guideline to overcome problems in the VCI as well as in other construction industries. Since Korea has emerged as the first largest foreign investor in Vietnam, the results of this study may be useful not only to practitioners and researchers in Vietnam but also to participants in Korea.

A Checklist for Assessment of Risks Involved in IT Service Project Contract (IT 서비스 프로젝트 계약서 위험 요인 평가 체크리스트)

  • Jeong, Eun Joo;Jeong, Seung Ryul
    • Journal of Internet Computing and Services
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    • v.15 no.4
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    • pp.57-65
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    • 2014
  • Risk factors are the reason behind cost overruns and delays in long-term large-scale IT service projects. Major risks originate from the integration of complex IT system components, including software, hardware, and solutions; the competitive bidding process; the turnkey and firm-fixed price nature of contracts; and the project execution environment. We have identified several risk factors such as delay in acceptance, low quality of deliverables, delay in payment, adding and changing requirements and scope, unclear definition of roles and responsibilities of the buyer and supplier, and unclear procedures of change and quality management during the project execution phase. One needs to manage risks proactively before signing the contract. In order to weed out or lower the risk factors well in advance, we need to identify and remove risk factors contained in contract clauses and attached contract documents. We propose a checklist for assessing IT service project contracts. To validate the checklist's utility, we applied it to an IT service project in the finance industry. The results show that the checklist is effective in identifying and removing risk factors pertaining to IT service projects.

Delay Factors in Building Construction Projects in Rwanda

  • Umuhoza, Esperance;An, Sung-Hoon
    • Journal of the Korea Institute of Building Construction
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    • v.19 no.5
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    • pp.467-475
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    • 2019
  • Delay is one of the most critical issues for construction projects and leads to huge losses in both developing and industrialized countries. The construction sector in Rwanda, a rapidly-developing nation, is no exception. Delays can be mitigated only once we have identify their primary causes, and these may not be the same in each region. This study aims to ascertain the main critical factors responsible for delays in building construction in Rwanda through an intensive literature review and questionnaire survey. A total of 40 delay causative factors were obtained from a literature review and were further classified into nine major categories. The questionnaire survey was distributed to about 80 respondents from clients, contractors, and consultants. From the list of 40 different factors, the top twelve most critical causes were identified as stoppage of work due to cash flow constraints, delay in approving design documents, confidentiality of physical plan, price fluctuations and delay in approving significant change, change orders, delay in performing inspections, Ineffective project planning, inadequate drawing details, unqualified labor, lack of materials on the market and dishonesty.

Impact Analysis of Construction Delay: The Case of Defects In the Top-down Construction Method

  • Suk, Janghwan;Kwon, Woobin;Soe, Jang-woo;Cho, Hunhee
    • International conference on construction engineering and project management
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    • 2022.06a
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    • pp.213-221
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    • 2022
  • Defects are the risk factors in the construction process of buildings. They cause damage, delaying the construction duration. They especially cause adverse effects on the top-down construction method. This study analyzed the degree of construction delay induced by each work type, focusing on defects in the top-down method. Then, we derived construction delay induction coefficient from different work types in order by using the severity of construction delay per defect and the occurrence probability of defect; this assessment model measures the impact of defects on construction delay for each work type. Furthermore, by comparing each work type based on the defect frequency and the construction delay induction coefficient, we found work types that need to be administered attentively. We identified that plastering work was easy to overlook, requiring caution in defect management. This study provides an efficient defect management system suitable for the buildings that are built using the top-down construction method.

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Analyzing Characteristics of Construction Complaints with Construction Project Type

  • Lee, Ju-Hui;Lee, Changjun;Yun, Sungmin
    • Korean Journal of Construction Engineering and Management
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    • v.24 no.3
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    • pp.52-61
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    • 2023
  • Conflicts in a construction project not only make negative impacts on project performance such as schedule delay or cost overrun but also require social cost to resolve the conflicts. Although the conflict needs a preemptive management because a conflict usually begins with a complaint, existing studies have focused on conflict resolution after it occurs. This study identifies and categorizes complaints which mainly appear in the construction projects. Those complaints were evaluated and quantified in terms of occurrence frequency and potential to conflict through a questionnaire survey with industry experts. Using the survey results, this study examines the characteristic of complaints in linear project and clustered project, and analyzes what kind of complaints occur by project type. As the results, this study derives the complaints with high potential to the conflicts that should be managed first during managing a construction project in each project type.

A Study on the Priority Analysis of Work Delay Factors in Steal-frame Work using FMEA (FMEA를 활용한 철골공사 작업지연요인의 중요도에 관한 연구)

  • Lee, Hyun-Chul;Lee, Jae-Hong;Go, Seong-Seok
    • Korean Journal of Construction Engineering and Management
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    • v.10 no.1
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    • pp.91-101
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    • 2009
  • The factors of uncertainty such as work delay could cause many problems, for example, increase of construction cost and terms of work, and the deterioration of quality. Because of these, the uncertainty risk is regarded as an important management factor to obtain the success of construction project. So, the systematic management plan about the uncertainty factors is needed because it plays an important role in the completion of entire project. And also analysis of some factors which can cause the work delay can be one way of improving construction project's certainty and making it competitive. In this reason, we have to make an effort to set a priority based on analysis of quantitatively numerical value about work delay factors to manage them effectively. Thus, this study aims to suggest the basic data for the effective management and prevention of work delay in steel-frame work which is progressive actively now, along with increasing of demand of high-rise buildings by analyzing each reasons of work delay factors and also by suggesting important management factors that are coded according to each construction work using FMEA method which could give a data about the importance of work delay factors through quantitatively numerical value.

Stakeholders' Perception of the Causes and Effect of Construction Delays on Project Delivery-A Review

  • Gandhak, Prajyot;Sabihuddin, Syed
    • Journal of Construction Engineering and Project Management
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    • v.4 no.4
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    • pp.41-46
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    • 2014
  • Indian Construction industry is large, volatile, and requires tremendous capital outlays. Typically, the work offers low rates of return in relation to the amount of risk involved. A unique element of risk in the industry is the manner in which disputes and claims are woven through the fibre of the construction process. Delay is generally acknowledged as the most common, costly, complex and risky problem encountered in construction projects. Because of the overriding importance of time for both the Owner and the Contractor, it is the source of frequent disputes and claims leading to lawsuits. The growing rate of delays is adversely affecting the timely delivery of construction projects. Presently construction industries are facing a lot of problems, considering that a paper assess construction stakeholder's perception to the causes of delays and its effects on project delivery. And also one case study is considered in this paper to elicit responses from construction stakeholders. The primary aim of this paper is to identify the perceptions of the different parties regarding causes of delays, the allocation of responsibilities and the types of delays, and method of minimizing the construction delays.