• Proceedings of the Korean Institute Of Construction Engineering and Management
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• autumn
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• pp.119-126
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• 2001

This paper analyzes problems related to total cost changes in private investment projects, and then proposes an improvement measure for the control of cost changes within the framework of the project management, contract, human resource, project communication, cost, and time management. From the viewpoint of contract management, the basis of cost change ought to be cleared up with standardization of related provisions in the concession agreement, and potentiality of change ought to be excluded with prescription of the private investor's leading role from the design phase. Regarding human resource management, this paper proposes a standard work flow granting much sovereign rights to private parts by putting restriction on work scopes of the entrusted authority of government, and transferring the rights of assignment, contract, and control about the responsible supervisor to the concessionaire. With regard to project communication management the notification of changes on drawings and technical documents ought to be automated and the realtime database ought to be established with DMIS (Drawings & Documents Management Information System). From the cost management point of view, this thesis integrates the control of cost-change-approved items and disapproved items to one cost breakdown system, and then harmonizes the actual progress with EVMS in time management.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.29 no.5D
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• pp.627-634
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• 2009

The BTL (Build-Transfer-Lease) contract of construction project serves as a part for early establishment of industrial foundation for social overhead capital. However, project cost of BTL contract is focused on initial construction cost. Accordingly, operation cost is lowly evaluated because there is no standard criterion for estimating maintenance cost for the facility. The low operation cost can be a factor that reduces service quality of facility operation. This study suggests a resonable method for estimating cost and manpower in the operation phase by using the existing practical data for wastewater treatment plant by BTL contract. The results of the study can be used for evaluating rough operation cost and manpower of similar plant project by facility size.

• Journal of the Korean Society of Systems Engineering
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• v.4 no.2
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• pp.35-43
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• 2008

Application of system engineering should be realized on necessary condition being to propel National Defense R&D Program. But, these necessity is yet not realized easily to many project managers of Defense Acquisition Program Administration(DAPA). As one person of DAPA project manager, system engineering hard to approaches easily by the word itself. There are a lot of difficult sections where should apply how. This paper established DAPA Project Manager and Acquisition Point of Contact of demand Military by main customer (reader), and wished to make understood more easily and approach system engineering application to these. Also, this paper studied project management example that scientific project management techniques of Earned Value Management(EVM) and Cost As an Independent Variable(CAIV) etc. is taken abuzz in DAPA inside by Project management technique that become reform, arc Integrated in system engineering.

• International conference on construction engineering and project management
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• 2007.03a
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• pp.69-78
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• 2007

In real world, the project managers handle conflicting goals that govern the use of resources within the stipulated time and budget with required quality and safety. These conflicting goals are required to be optimized simultaneously by the project managers in the framework of fuzzy aspiration levels. The fuzzy linear programming model proposed herein helps project managers to minimize total project costs, completion time, and crashing costs considering indirect costs, contractual penalty costs etc by practically charging them in terms of direct cost of the project. A case study of bituminous pavement under construction is considered to demonstrate the feasibility of applying the proposed model for optimization of project parameters. Consequently, the proposed model yields an efficient compromise solution and the decision maker's overall degree of satisfaction with multiple fuzzy goal values. Additionally, the proposed model provides a systematic decision-making framework, enabling decision maker to interactively modify the fuzzy data and model parameters until a satisfactory solution is obtained. The significant characteristics that differentiate the proposed model with other models include, flexible decision-making process, multiple objective functions, and wide-ranging decision information.

• The Journal of Fisheries Business Administration
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• v.52 no.2
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• pp.1-31
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• 2021

This study is to evaluate the prior economic feasibility of the off-shore fisheries stock enhancement project. The main findings of this study can be summarized as follows: first, offshore fisheries stock enhancement project shall be implemented by dividing them into 1st·2nd·3rd projects for efficient promotion. The 1st·2nd·3rd projects will be conducted in a total of 50 locations (the eastern sea, the western sea, the southern sea, and the jeju sea areas), and the project period per unit will be five years, which will cost 1 trillion won. Second, according to the results of the survey on public awareness, the most consumed marine species in Korea over the past year were analyzed in the order of mackerel, hairtail, squid, yellow corvina, blue crab, and cod. The dominant response to the reason for consuming marine products in Korea was healthy well-being food and safe food. In addition, 67.9% of them have hesitated to purchase offshore fish species over the past year due to high prices, indicating that they are burdened by high prices. On the other hand, 79% of the respondents said that the government's policy was insufficient, according to a survey on whether the government's coastal marine resource creation policy was sufficient. Third, as a result of preliminary economic analysis of offshore fisheries stock enhancement project, the benefit-cost ratio is 4.01, net present price is 1,283.7 billion won, and internal rate of return is 91.7% per year, which means that the economic analysis ensures the feasibility of the projects. The results of this study provide useful information on securing or organizing budgets for offshore fisheries stock enhancement project by securing economic feasibility as a national infrastructure project that increases fishery income and public benefits such as consumption of marine products.

• Proceedings of the Korean Institute of Building Construction Conference
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• 2017.11a
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• pp.185-186
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• 2017

Even large construction projects of nuclear power plant construction and production data is increasing dramatically due to the introduction of ICT technologies, such as 3D scanning technology, wireless communication technology, virtual construction management technology. There are various attributes and types of data to be produced and managed because the documents generated by the contract method are different from the cost processing method. According to the requirements of the international nuclear bid, it is required to present the cost that is calculated based on resource quantity. This research considers ways in which the cost management based on the resource quantity.

• International conference on construction engineering and project management
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• 2005.10a
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• pp.892-896
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• 2005

This paper collected 132 schools reconstruction projects in central Taiwan, which received the most serious damage from the Chi-Chi Earthquake. Regression analysis was implemented to build the prediction model of the cost and the duration for the collected projects. It is found that the cubic regression models are capable for predicting the cost and the duration of the projects contracted by the central agency of which the contracting awarding approach was based on the most advantageous tendering (MAT) approach. On the other hand, power regression models are capable for predicting the cost and the duration of the projects contracted through the low bid tendering (LBT) approach. It is also found that the performance of the regression prediction model differs in accordance with organizations that contracted the reconstruction projects.

• International conference on construction engineering and project management
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• 2015.10a
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• pp.259-262
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• 2015

Due to the labor-intensiveness, high investment cost, long execution time, frequent change orders, and many stakeholders in a BIM project, a BIM manager is bound to face a lot of risks to make decisions in cost managing process. Since the productivity of a BIM team will affect the execution cost, this study investigates a simple method of assessing the productivity of a BIM team using the working timesheet records of the team. In this research, the productivity of a BIM team is defined as the effective working floor area (in square meters) of BIM uses per labor-time (in man-months) spent by the team. After the applicability of this method is tested by regression analysis using data from 5 real BIM projects in the construction phase, it is found that the simple productivity definition adopted in the method, although easy-to-implement, does not produce a statistically constant productivity value. More research is therefore needed in the future to devise better indicator(s) for assessing the productivity of a BIM team.

• International conference on construction engineering and project management
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• 2013.01a
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• pp.488-493
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• 2013

Accurate initial cost estimates are essential to effective management of construction projects where many decisions are made in the course of project management by referencing the estimates. In practice, the initial estimates are frequently derived from historical actual cost data, for which standard distribution-based techniques are widely applied in the construction industry to account for risk associated with the estimates. This approach assumes the same probability distribution of estimate errors for any selected estimates. This assumption, however, is not always satisfied. In order to account for the probabilistic nature of estimate errors, an alternative method for measuring the risk associated with a selected initial estimate is developed by applying the Bayesian probability approach. An application example include demonstrates how the method is implemented. A hypothesis test is conducted to reveal the robustness of the Bayesian probability model. The method is envisioned to effectively complement cost estimating methods that are currently in use by providing benefits as follows: (1) it effectively accounts for the probabilistic nature of errors in estimates; (2) it is easy to implement by using historical estimates and actual costs that are readily available in most construction companies; and (3) it minimizes subjective judgment by using quantitative data only.

• Korean Journal of Construction Engineering and Management
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• v.18 no.3
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• pp.105-116
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• 2017

In recent years, large Korean construction companies have suffered serious losses in their overseas business. Many practitioners and researchers have analyzed causes of cost overrun in these projects. However, these arguments have not been empirically verified based on acutal project cases. This study investigated cost overrun rate, contingency, allowance, predicted risk before bidding, and actual and residual risk after award in the 67 international infrastructure projects conducted by 13 large construction companies. The causes of cost overruns are derived as follows. First, they identified the possibility of cost overrun to some extent before the bidding, but did not reflect the enough risk money to bid price. In particular, this behavior was more severe in badly cost-overrun projects. Second, the causes of cost overrun were more influenced by external environmental risk than internal capability risk. However, the internal risk in badly cost-overrun projects was relatively high compared to cost-underrun projects. Third, badly cost-overrun projects failed to mitigate risk. However, cost underrun projects were affected more by low exterior risk conditions than by well mitigated risk. This study provides more informed knowledge in controlling project costs in international infrastructure projects.