• Journal of Construction Engineering and Project Management
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• v.6 no.2
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• pp.16-23
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• 2016

The use of inappropriate procurement methods to deliver construction projects has long been acknowledged as a major source of poor project performance and is particularly problematic for the Libyan Construction Industry. Poor procurement method selection has been recognised as a major contributory factor to frequent time and cost overruns. This paper offers a way of selecting specific procurement methods to maximize successful project performance. The methodology involves an intensive review of relevant literature, followed by a semi-structured questionnaire survey. The key findings of the study reveal that 11 out of its 12 common selection criteria exhibit a significant contribution to one or more project performance criteria (time, cost and quality). Project clients should therefore prioritise these criteria when selecting a design-bid-build method. Knowledge of the criteria that contribute positively to project performance will also enable clients to work out, prior to and during construction, the best measures and provisions for successful project outcomes.

• Journal of the Korea Institute of Building Construction
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• v.5 no.1 s.15
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• pp.97-103
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• 2005

Building costs means capital costs which include cost of land, costs of acquiring and preparing the site, construction costs, professional fees, furnishings, cost of financing the project. and cost of management required to run and maintenance the building for use. There are several phases that determine the building costs : design phase, construction phase, and operation & maintenance phase. So, the cost of work could be set against the examining the full range of complexities that a building program might contain. To solve this problem, it needs to compute building cost systematically. This is still in the development stage, awaiting the organization of rational cost data base. The method of cost saving by cost control could be constituted by detailed knowledge of building costs for all possible combinations of components and subsystems that can be assembled into integration model of cost factor on each phase of project development. The model of cost saving in each building phase is available for procedures of cost control of building systems.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• autumn
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• pp.419-422
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• 2002

The features of modem construction industry can be summarized as specialization, complexity, and large-scale. Therefore, increasing uncertainty of construction project can not be effectively dealt with traditional method used for construction cost management. Cost overrun affects on successful execution of managing construction project in a negative way. Therefore, accurate estimation is a priori for effective cost management. First, this work analyzes the previous cost estimation model for the effective cost management. Then, a standard structure required for developing the cost estimation model for site development was presented. In addition, the cost estimation model which can be used in planning and design phases was introduced by analyzing real site development projects.

• International conference on construction engineering and project management
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• 2022.06a
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• pp.1106-1113
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• 2022

Cost segregation helps reduce tax liabilities by reclassifying real property to personal property and accelerates tax depreciation of a property. A typical cost segregation study requires much time and high costs. This study proposed a BIM integrated cost segregation process that can be applied to any commercial building project. The proposed BIM-based cost segregation process was verified in a new commercial construction project. It approved that this approach can: (1) increase the cash flow for the owner and provide assistance to tax-paying enterprises; (2) enable the contractor to use it as an added value in the bidding process; (3) realize data sharing in a common platform to improve the cost segregation study efficiency and reduce costs and errors; (4) contribute to the asset management in the life cycle of buildings while filling in the blank of cost segregation process. Future studies will focus on the automation of cost segregation and asset management in building construction's life cycle.

• Korean Journal of Construction Engineering and Management
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• v.5 no.3 s.19
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• pp.106-113
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• 2004

Most construction project managers should focus on the reasonable cost-down with same quality and function-enhancement with same cost for the value-added construction project delivery in construction industry. Especially, a building structure construction is one of the most important processes to affect the total cost and schedule in building construction project. It means that the process has the possibility of project cost-down or quality-enhancement among the whole project life-cycle. This research focuses on the importance of underground structure of building project by increasing underground use ratio in the urban building construction projects nowadays. This research adopts VE method for the improvement of cost and time by process and analysis dimension modeling on the underground building structure construction, and verifies it throughout the case study, This research is the basic study on the improvement of underground building works through the value engineering method in construction industry.

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

• Korean Journal of Construction Engineering and Management
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• v.10 no.1
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• pp.45-57
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• 2009

BTL (Build-Transfer-Lease) Project for Education Facilities are contracted as a package which consists of several education facilities. The general maintenance period of BTL project for education facilities is 20 years. Thus, total cost variation largely depends on the accuracy of the maintenance cost forecasting in the early stage in the life cycle of the BTL Project. This research develops a cost forecasting system using complete linkage algorithm and branch & bound algorithm to help in finding optimal bundling combination. This system helps owner's decision-making to estimate the total project cost with various constraints changing. The result of this research suggests more reasonable and effective forecasting model for the maintenance facilities package in the BTL project.

• Journal of Environmental Policy
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• v.11 no.3
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• pp.67-96
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• 2012

The Ministry of Environment in Korea has been promoting the urban stream restoration project for paved streams in cities as the restored Cheonggyecheon. As an elementary study for suggesting policy implications for the project, cost and benefit criteria for an ex-post analysis on the Cheonggyecheon project is suggested in this study. The ex-ante analysis were reviewed critically by focusing on the cost and benefit criteria. Ex-post analysis plan in this study is developed considering the standard guideline of pre-feasibility, the theory of cost-benefit analysis, and the review results. The costs for compensating lands, amending conflicts, researching rivers, and maintaining water quantity were also included. For the benefits, this study proposes to estimate the benefits with the assessment on naturalness of stream. The results are expected to contribute to increase the efficiency of the urban stream restoration project and evaluate the project to match better with the meaning of the river restoration.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.43 no.2
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• pp.79-86
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• 2020

To make a satisfactory decision regarding project scheduling, a trade-off between the resource-related cost and project duration must be considered. A beneficial method for decision makers is to provide a number of alternative schedules of diverse project duration with minimum resource cost. In view of optimization, the alternative schedules are Pareto sets under multi-objective of project duration and resource cost. Assuming that resource cost is closely related to resource leveling, a heuristic algorithm for resource capacity reduction (HRCR) is developed in this study in order to generate the Pareto sets efficiently. The heuristic is based on the fact that resource leveling can be improved by systematically reducing the resource capacity. Once the reduced resource capacity is given, a schedule with minimum project duration can be obtained by solving a resource-constrained project scheduling problem. In HRCR, VNS (Variable Neighborhood Search) is implemented to solve the resource-constrained project scheduling problem. Extensive experiments to evaluate the HRCR performance are accomplished with standard benchmarking data sets, PSPLIB. Considering 5 resource leveling objective functions, it is shown that HRCR outperforms well-known multi-objective optimization algorithm, SPEA2 (Strength Pareto Evolutionary Algorithm-2), in generating dominant Pareto sets. The number of approximate Pareto optimal also can be extended by modifying weight parameter to reduce resource capacity in HRCR.

• 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.