• Proceedings of the Korean Institute Of Construction Engineering and Management
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• autumn
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• pp.120-125
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• 2003

The estimated construction costs derived at the Planning stage of a project are utilized as important data determining the feasibility of overall project. Therefore the clients usually expect to have estimations of the construction cost as precise as possible and there has been extensive studies carried out by the cost specialists worldwide to satisfy this client's specific need whereas the local estimators still heavily rely on producing quantities and detail quotations only. This paper is to introduce a case study where elemental/functional area cost analysis is incorporated into a database system for the improved accuracy in cost estimations.

• Proceedings of the Korean Institute of Building Construction Conference
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• 2019.11a
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• pp.184-185
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• 2019

The purpose of this study is to suggest the improved methods for cost sharing in apartment remodeling projects. Case studies on apartment remodeling projects with different plan type were analyzed and compared. Cost sharing estimated by 'proportional rate method' shows similar results estimated by 'return on investment method' in case of similar area ratio of existing plan to remodeling plan. Otherwise cost sharing estimated by 'proportional rate method' shows great differences comparing the results estimated by 'return on investment method'. Although return on 'proportional rate method' is widely used, it is not proper to estimate cost sharing when each householder's contribution for the project varies, such as considerable differences area ratio of existing plan to remodeling plan. Improved cost sharing method is needed taking into account project contribution and characteristics.

• Journal of Construction Engineering and Project Management
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• v.4 no.4
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• pp.47-59
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• 2014

Client organization inadequate project planning before awarding the contract and insufficient monitoring and control system among the parties involved create severe problems. Ultimately, large-scale projects go beyond the expected cost and time control limits. This paper discusses the major issues involved with a large-scale Hydropower Project in Pakistan Public Sector environment. The latest approved Baseline Plan of project was reviewed and analyzed using Variance Analysis and Trend Analysis techniques in Primavera project management software to assess the efforts made of the parties involved. It was found that Project is 202% Cost overrun and 25% time delays from original contract award. After analysis of baseline plan and quantification of various variance issues in impacted activities, the questionnaire survey was conducted to identify the impact of causative factors. There were almost 17 most significant causative factors identified among 60 identified factors and responsibilities are assigned accordingly. At the end recommendations are made for strategic decisions as lessons learned during project evaluation.

• Land and Housing Review
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• v.2 no.4
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• pp.355-365
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• 2011

Construction duration is very important as a factor which comprises three axises of construction management with quality and cost in construction project. In general project condition, construction duration is optimized while minimizing construction cost and securing required quality. However, in case of insufficient project time duration or delayed projects, project progress management is different from those of normal projects. These project areas need solutions to complete work within a given completion day. To time shortening the current duration of each typical floor of structural framework in apartment construction is investigated, and a basic time schedule planning for typical floor of structural framework in normal projects is planned. This study proposed 3 ways for time shortening of urgent project or insufficient construction duration project. Also, This study proposed detailed time shortening method and technical solution conditions while time is shortened.

• Journal of Information Technology Services
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• v.21 no.5
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• pp.51-64
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• 2022

Companies are planning and executing IT projects using information technology as a means to secure external competitiveness. However, IT projects have high risks and uncertainties due to the invisibility of outputs (systems, services, products), and changes in plans frequently occur during project execution. As a result, most IT projects are closed without achieving the target performance. This can lead to a waste of resources and money for the company, which in turn leads to the loss of opportunities to enter new markets. This study intends to analyze the effect of changes in the project plan on customer satisfaction, which is the project performance. Also, we want to find the importance of project planning so that the target performance of the IT project can be achieved. For the empirical analysis of this study, about 500 actual project data were collected. As for the analysis method, statistical analysis such as simple and multiple regression analysis and control effect was performed. Looking at the results of the analysis, it was found that the scope change affects the cost change and the schedule change. Also, changes in scope and cost were found to affect project performance. The theoretical performance of this study proved the theoretical fact that good project performance comes out if the IT project is executed as planned. The practical performance suggested the need for a change in project management by proving that thorough execution of the project planning stage can improve the project performance in the Korean project management culture, where the project planning stage is poorly performed for the rapid implementation of the IT project.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• autumn
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• pp.423-426
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• 2002

The foundation for developing a cost estimation system based on historical data has been being prepared in Korea. Historical data is a priori of developing a cost estimation model. Cost Index, one of the historical data, is used to estimate construction cost and to adjust the amount of contract money in the foreign country, whereas it is not used in domestic except for the road construction project in Korea. Construction cost indices can be used by an estimator in tender analysis, pricing, price adjustment, cost planning, and forecasting. In this regards, this paper identified the problems in developing Cost Index evaluation process by comparing the standard of framing Cost Index used in British to the one used in Korea. Then, the scheme for improving a Cost Index required for Site Developing Construction was proposed. Twenty-two cases of engineering estimate data were used to compare the domestic standard to the foreign one in deriving a Cost Index.

• Journal of KIBIM
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• v.8 no.3
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• pp.31-42
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• 2018

This study focuses on the BIM request for information(RFI) processing performance and quantitatively analyzes the performance of the BIM coordinator and the loss due to the waiting of the project participants. For these purposes, a method to quantitatively evaluate the performance of the BIM coordinator was proposed using a queueing model. For the verification, two projects in which BIM was applied in the construction phase were selected, and the BIM RFI data were collected through the analysis of the BIM monthly report and BIM coordinator work log of each project. In addition, the BIM input personnel, labor cost, and productivity data were collected through interviews with the experts of the case projects. The analysis of the BIM RFI processing performance of the BIM coordinator using the queueing model exhibited on a probabilistic basis that the waiting status of the project participants could vary depending on the preliminary BIM application to the design verification as well as the input number and level of the BIM coordinator personnel. In addition, the loss cost due to the waiting of the project participants was analyzed using the number of BIM RFIs waiting to be processed in the queueing system. Finally, the economic feasibility analysis for the optimal BIM coordinator input was performed considering the loss cost. The results of this study can be used to make decisions about the optimal BIM coordinator input and can provide grounds for the BIM return on investment (ROI) analysis considering the waiting cost of the project participants.

• Korean Journal of Community Nutrition
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• v.23 no.5
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• pp.385-396
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• 2018

Objectives: This study aims to evaluate the economic efficiency of a nutrition management program for children under 5 years of age in Kenge, Kwango District, Democratic Republic of the Congo (DR Congo) from 2014 to 2016. Methods: The economic efficiency of a nutrition management program for children under 5 years of age who have recovered from malnutrition status was evaluated using a cost-benefit analysis. The costs were analyzed according to the executed budget incurred during the project period. The benefits were estimated as the monetary value of the saved lives of children under 5 years of age. The economic efficiency of the program was determined by the Benefit-Cost Ratio (BCR). The BCR was calculated by dividing the total discounted benefit by the total discounted costs. The project is economically efficient when the BCR is greater than 1. Results: The costs of the nutrition management program were calculated as 1,677,609,648 Korean Won (KRW). A total of 2,466 children survived with improved malnutrition status through this program. The benefit for the reduction of mortality for children under 5 years of age was estimated to be 6,814,354,467 KRW, the estimated value of life for 2,466 children. The BCR was 4.06. Conclusions: The nutrition management program for children under 5 years of age in DR Congo was found to be a cost-effective project. Successful and efficient Official Development Assistance (ODA) for a health project requires integrated and comprehensive strategies and specialized international development consulting to improve efficiency. Future nutrition management programs should take into account the national health program to maintain the sustainability of the project.

• Korean Journal of Construction Engineering and Management
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• v.5 no.2 s.18
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• pp.153-161
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• 2004

The systematic material and labor management planning should be established on accomplished EVM data. The matrix method of integrated cost and schedule was used with common category concept according to the construction project control system. The construction project control system was suggested through analyzing process and data modeling based on integrated cost, schedule and material. Information of construction project can be developed the relationship between the field data and the integrated cost, schedule database. Process and data modelling is provide a standard data format which are related to the material, labor management based on integrated cost, schedule database.

• Journal of Convergence for Information Technology
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• v.11 no.6
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• pp.113-119
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• 2021

Since the weapon system project has a large ripple effect on the country by investing a huge budget, analysis of acquisition methods that secured economic feasibility is required in the planning stage to promote the weapon acquisition project. In response to this demand, economic analysis for acquisition method is preformed in the research stage of previous studies, but the analysis on economic analysis for acquisition alternative is imperfect at the present. In this research, we identify the limitations of the effect analysis and propose an additional cost-benefit analysis method to analyze the economic feasibility of the acquisition alternative. It is possible to present the universal results of economic feasibility analysis for not only multiple alternatives but also single alternatives by presenting benefit/cost ratio. It is applied to research on acquisition project of OO guided rocket, and the result of economic analysis for each alternative is presented.