• Korean Journal of Construction Engineering and Management
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• v.15 no.5
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• pp.3-12
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• 2014

With the scale of program management getting larger and complexity, More accurate and precise method for management cost estimate is demanded. However, most of project management cost estimates are based on similar cases and hence can not reflect distinct features of each project. Cost estimate precision is also not up to the standards, and also troublesome to policy-making and budget allocation. Therefore, project typical model for cost estimate of Comprehensive Project Management is developed, and makes it easier to manage level of effort and allocate cost by applying characteristic factor of each project. This study categorized the project package by phase; planning, detailed design, and bid procurement, to develop typical model. And by designating specific level of effort required for each field and rank, the study aims to improve the method for calculating the detailed and objective program cost. Outcome of this study will prevent conflicts between client and contractor, accurately calculate program management contract cost for the client, and become a reference for the contractor to receive rational and practical payments for their work.

• Korean Journal of Construction Engineering and Management
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• v.10 no.4
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• pp.87-100
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• 2009

The quality of early cost estimates is critical to the feasibility analysis and budget allocation decisions for public capital projects. Various researches have been attempted to develop cost prediction models in the early stage of a construction project. However, existing studies are limited on its applicability to actual projects because they focus primarily on a specific phase as well as utilize restricted information while the amount of information collectable differs from one another along with the project stages. This research aims to develop two-staged cost estimation model for the schematic planning and preliminary design process of a construction projects, considering the available information of each phase. In the schematic planning stage where outlined information of a project is only available, the Case-Based Reasoning model is used for easy and rapid elicitation of a project cost based on the extensive database of more than 90 actual highway construction projects. Then, the representing quantity-based model is proposed for the preliminary design stage where more information on the quantities and unit costs are collectable based on the alternative routes and cross-sections of a highway project. Real case studies are used to demonstrate and validate the benefits of the proposed approach. Through the two-stage cost estimation system, users are able to hold a timely prospect to presume the final cost within the budge such that feasibility study as well as budget allocation decisions are made on effectively and competitively.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.22 no.1
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• pp.385-392
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• 2021

In general, earth retaining work in construction works enables the construction of structures, prevents the displacement of the surrounding ground to the maximum extent, and plays an important role in ensuring the safety of the surrounding structures and field workers. The earth retaining work and the construction method differ according to the various ground characteristics, surrounding topographical characteristics, repair environment, and design conditions. In particular, in the case of Seoul city, the environments and ground conditions differ according to the area. This study analyzed the earth retaining work cost mainly for the apartment construction project in Seoul and calculated the approximate earth retaining work cost at the project planning stage. A model was developed to predict the cost of earth retaining work that matches the characteristics of Seoul City and predict the construction cost for earth retaining work. This paper presents the predicted earth retaining work cost using a multiple regression model that applies 10 project outlines as independent variables. The error rate of the prediction result of the earth retaining work cost of the apartment construction project in Seoul using multiple regression models was 10.75%.

• Plant Journal
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• v.5 no.1
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• pp.51-59
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• 2009

The global plant construction market has grown dramatically since 2000. As the market grows, domestic EPC contractors are expanding to meet its needs and have made great strides in terms of economic indicators from a decade ago. Larger projects involve a number of risk factors, such as volatile oil prices, however, and thus require quantitative and elaborate project management techniques for the ultimate success of a project's profitability. In addition, many Korean companies face difficulties in predicting potential risks and problems due to a lack of experience in dealing with the global market trend toward projects based on the Cost-re(Cost Reimbursable) contract as opposed to those based on the LSTK(Lumpsum Turnkey) contract. This study will examine methods and types of man-hour management according to plant project contract types. Further, it will explore the man-hour management system for successful completion of projects by satisfying the client's needs and enhancing the convenience in engineers' using the system. Additionally, this study will analyze the current system and identify its problems to address potential problems.

• Journal of Construction Engineering and Project Management
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• v.4 no.1
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• pp.29-36
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• 2014

Tunnelling has become a preferred method of construction for road and highway projects in countries with a lot of hilly slope geological conditions such as found in Malaysia. However the construction works of a tunnelling project are usually complicated and costly, which consequently impose great risks to the parties involved. This paper identifies the key significant risks and sub-risks for tunnelling construction projects in Malaysia through a case study. Interview has been used as the solitary means to determine the significant risks from contractor's eleven key project personnel who were directly involved in the tunnelling construction such as consultant, construction manager and tunnel engineers. The importance of the risks identified is then prioritised and ranked via the Analytic Hierarchy Process (AHP)'s pairwise comparison approach to determine their criticality towards a successful delivery of project. As a result, three key risks have been identified as significant for the tunnelling case study project, namely health and safety, cost overrun in construction and time overrun in construction. Two sub-risks each of the latter categories, which are cost underestimation and unforeseen events (cost overrun in construction) as well as plant and machinery failure and delay in material delivery (time overrun in construction), have occupied the top five overall risk ranking.

• Proceedings of the KSR Conference
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• 2008.11b
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• pp.17-22
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• 2008

Construction project have extremely high risk in the process of construction owing to unexpected event, like as design amendment. As a result, owner have to endure enormous extra-cost to control the risk and continue to the project having more higher uncertainty. Also, if the structure is completed, it is needed that the structure is protected and maintained continuously during life cycle time to satisfying original aim of structure itself. LCC analysis to calculate cost of structure alternatives divides into two stage, one is design_LCC and the other is maintenace_LCC. But two stages all is needed in the transition deterioration model to calculate more reasonable LCC analysis. This paper developed the model using analysis of FMS contents and survey from professional about Prestressed concrete beam girder bridge(PC Beam bridge)in railway. The model is focused in project level of PC beam because any condition state information for element level analysis can not get up. This paper is intended to use the developed model in LCC analysis of PC Beam bridge in railway and constitute the foundation to perform more deep study in the near future.

• International conference on construction engineering and project management
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• 2024.07a
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• pp.1305-1305
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• 2024

Nomura Real Estate is not just an investor but is actively involved in project promotion. Before construction begins, we review all drawings and point out areas that may lead to defects, check process charts and propose more rational processes, inform how to manage cost increases and decreases due to changes during construction, and provide advice from the perspective of quality, process and cost management by entering the project to enhance property value. We also provide advice from the perspectives of quality, process, and cost management by entering projects to improve property value. Depending on the project, we also work with third parties such as general contractors, manufacturers, and academic experts to propose products and new technologies that are not available locally. We have built a promotion system in which teams are formed centered around staff from the head office, with the addition of local staff from each country and third parties for each project. In recent years, we have been working on activities (knowledge exchange, manuals, internal forums, etc.) to horizontally expand our knowledge by providing opportunities for local staff to interact with each other, rather than keeping the knowledge gained through overseas business at the head office or in each country. This cycle of knowledge accumulation, deployment, and application enhances the quality of our projects, which in turn leads to the trust of our partners in each country.

• Journal of Internet Computing and Services
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• v.9 no.6
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• pp.155-163
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• 2008

Project Monitoring and Control is one of the required activities in project management. This activity provides the information about whether a project is making a progress as it is planned. It is usually performed in weekly meetings or milestone meetings where the project manager checks the project's current status based on project measures such as schedule, cost and work performance. One of the popular method for project monitoring and control is EVM(Earned Value Management). The major characteristic of EVM is that it uses only one measure 'cost' for schedule and work performance so that it enables 2 independent graphs to be illustrated in one integrated graph based on cost. For applying EVM to a project, it is essential to break whole work to work packages and to assign value of cost to each work package at the initial stage of the project. Therefore EVM is well matched with the lifecycle which requires whole plan at the beginning of project. However, in XP(eXtreme Programming), whole customer requirements are difficult to define and to make a complete plan at the beginning and are more detailed in each Iteration. Therefore EVM is not comfortable method for XP. Therefore in this research we suggest 3 layer EVM which can be applied in XP, and develop a process guidelines based on CMMI(Capability Maturity Model Integration) PMC(Project Monitoring and Control) process area.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• 2007.11a
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• pp.607-612
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• 2007

Early cost estimation promote efficient budget plan by comparing alternatives and presenting cost information However it is hard to predict accurate cost because of vague cost standard and lack of available information in the early stage. The precious cost model has limitations in the accuracy because they are simple linear model which uses the unit cost per kilometer. This study presents the framework of early cost estimation for road construction projects to overcome the limitation of previous cost model. This study analyzed domestic and foreign cost model and cost data of previous road construction project to present method of cost model framework.

• International conference on construction engineering and project management
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• 2024.07a
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• pp.532-539
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• 2024

Among various risk factors that need managing in large scale complex infrastructure projects, geotechnical risk is one of the most prominent factor particularly for underground works like tunnels. Uncertainties in soil conditions cannot be avoided 100% even after extensive geotechnical investigations. Therefore, underground works face large delays and cost overrun especially for hydropower projects in developing countries. Its uncertainty ex ante and ex post directly cause increased transaction cost in terms of contract administration, claims, variation orders and disputes. It also reduces trust and increases opportunistic behaviors due to asymmetric information between the parties. Subsequently, parties are spending more time on claim management rather than handling the project execution. Traditional project management tools are becoming less effective under these conditions. FIDIC published the Conditions of Contract for Underground Works wherein a Geotechnical Baseline Report (GBR) sets out the allocation of risks between the parties for subsurface physical conditions determining the foreseeable and unforeseeable conditions. At the same time, Building Information Modeling (BIM) is being adopted for efficient design, quality control and cost management. In this study, soil classification along the tunnel alignment for on-going hydropower projects is modelled in the virtual environment of Autodesk Revit (2024). The actual soil encountered along the tunnel during construction stage can be compared with the baseline conditions. In addition, BIM serves as a central source providing symmetric information to the Parties to develop an environment of trust and coordination. It is anticipated that these tools will improve the project management skills for underground works through minimizing the opportunistic behavior and transaction cost.