• Journal of the Korean Operations Research and Management Science Society
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• v.32 no.2
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• pp.163-175
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• 2007

[ $ulcorner$ ]Cost-Effectiveness Analysis$\lrcorner$ has been wifely used to evaluate economic efficiency of R&D projects, but most of cost-effectiveness evaluation systems have some problems such as systematic method for setting and evaluating cost factors, estimation of single effect on each R&D project, and estimation of cross effects among R&D projects. To solve these problems, we have designed a new evaluation indicator called a $ulcorner$Cost-Cross Effect Integration Indicator$lrcorner$ including cross effects developed in this research. The major research findings are summarized as follows : (1) $ulcorner$Coist Estimation Model$lrcorner$, which estimates the cost factors divided into two classes of assembly product and system product and then integrates the total cost values, has been designed. (2) A new method for estimating parameters of cross effects among R&D projects has been developed. (3) $ulcorner$Cross Effects Estimation Model$lrcorner$ to estimate multi-effects and cross effects by completion time among several projects has been designed. (4) $ulcorner$Integration Estimation Indicator$lrcorner$ for setting priority on a project group has been extracted by combination of total cost value and total effect value.

• Korean Journal of Computational Design and Engineering
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• v.20 no.4
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• pp.431-442
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• 2015

Currently, a BIM-based quantity takeoff (QTO) system is mainly focused on architectural projects. To perform this, diverse quantity takeoff methods such as an object-based automatic quantity takeoff, manual quantity and base functions of calculation have widely been utilizing. However, since BIM library for road projects includes structural elements associated with alignment, it is necessary to establish cost estimation system interlocked with historical cost using 3D library by each unit length. Accordingly, the aim of this study is to develop cost estimation model with using a historical cost approach so that it can be utilized in construction planning based on the BIM library for road projects. For this, based on the BIM library for road, the standardized quantity is estimated, and a process for calculating historical cost and a verification model with a 5D simulation was developed by mapping a WBS code with each BIM library object. This can be applied during the approximate cost estimation process in a project planning and an initial design phase for road projects. Besides, it is expected that these results will be utilized in constructing an optimal historical cost estimation process for project libraries.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.28 no.3D
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• pp.371-381
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• 2008

The systematic methodology for estimating construction cost approximately at planning and pre-design phase of a river facility construction project has not yet been established because of its unique characteristics including its relatively small project size in terms of cost. This research suggests a 4-level cost information structure and identifies critical factors affecting construction cost as a result of thorough analysis of accumulated historical cost data of river facility construction projects. Also, this research presents the framework of the approximate cost estimating methodology for river facility construction project a planning stage.

• International conference on construction engineering and project management
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• 2024.07a
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• pp.738-744
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• 2024

Cost measurement plays the fundamental role within the modern construction and project management models, where not only materials, labors and services are measured by cost but also programme delays, quality defects and project risks are converted to be measured as cost. However, the problems of cost measurement models have been analyzed only from the aspect of owners and contractors who construct the buildings, not from the aspect of users who use buildings. In this article, analysis of data surrounding the current high inflation of construction costs in England is conducted, to find out its route causes within the current and historical development of construction cost measurement models. The conclusion is that current cost measurement models are based on the aspect of owners and contractors, which is to assess buildings as monetary asset for short-term taxation purpose, without due regard how buildings are used by users for long-term. Alternative cost measurement models based on the aspect of users are proposed, which assess buildings as functional asset for its long life-cycle. Pros and cons of these two adverse models are discussed in details, and harmonization between owners, contractors and users are sought, in order to arrive at a more consistent cost measurement approach which can be equally applied to buildings and built-environment by all stakeholders involved.

• Architectural research
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• v.16 no.2
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• pp.75-80
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• 2014

Risks, uncertainties, and associated cost overruns are critical problems for construction projects. Cost contingency is an important funding source for these unforeseen events and is included in the base estimate to help perform financially successful projects. In order to predict more accurate contingency, many empirical models using regression analysis and artificial neural network method have been proposed and showed its viability to minimize prediction errors. However, categorical factors on contingency cannot have been treated and thus considered in these empirical models since those models are able to treat only numerical factors. This paper identified potential factors on contingency in transportation construction projects and evaluated categorical factors using the one-way ANOVA statistical method. Among factors including project work type, delivery method type, contract agreement type, bid award type, letting type, and geographical location, two factors of project work type and contract agreement type were found to be statistically important on allocating cost contingency.

• Korean Journal of Construction Engineering and Management
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• v.10 no.3
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• pp.130-138
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• 2009

Bromilow's time-cost (BTC) relationship was examined for building projects in Vietnam using actual construction time and total construction cost. Data set was collected from 77 historical building construction projects completed between 1999 and 2005 which were adjusted by consumer price index (CPI) to 2000 price. Time-cost equations were specified respected to two sectors, public and private, in Vietnamese construction industry and all cases. It is shown that a public funded building project has the longer construction duration than a similar budget private funded project. The resulting models are statistically significant. The adjusted R-square coefficients of all cases, public and private projects models are respectively 0.403, 0.436 and 0.377 mean that the BTC regression lines moderately fit the data set.

• 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 Construction Engineering and Project Management
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• v.7 no.3
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• pp.15-25
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• 2017

The existence of material price volatility in construction projects puts forward substantial risks for all parties involved. Depending on the parties involved in the project, type of contracts, and state of the market various risk management strategies are practiced by contracting parties to manage project risks related to price volatility. Unfortunately, in many cases companies fail to select an adequate approach to better manage volatilities of material prices due to the lack of a decision support system to aid in the selection of an appropriate strategy based on the project characteristics. The aim of this study is to identify critical project factors and align them to documented strategies to manage price volatility based on an extensive literature review and industry interviews. This study found Integrated Project Delivery (IPD) as the ideal strategy with respect to project duration; quantitative risk management methods with respect to the cost; and Price Adjustment Clauses (PAC) with respect to the risk allocation, as the top price volatility management strategies.

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

• Korean Journal of Construction Engineering and Management
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• v.6 no.6 s.28
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• pp.107-114
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• 2005

The time and cost is the most important information for the construction project management. Currently, a lot of studies have been done in order to clearly relate them with each other, but there have been some difficulties. Because of the characteristic of Korean government contract law, the construction project in Korea is managed by only cost and the time and cost information is distinctly separated. In order to manage all the major construction project information smoothly, the time and cost information should have relation with each other. This study suggest methods for relating the time and cost information, especially for road construction project of MOCT. Through the survey of construction field engineers and case study of the road construction project, several alternatives to improve the usability of construction information are suggested in this study. These alternatives can support relating other construction information.