• International conference on construction engineering and project management
• /
• 2013.01a
• /
• pp.338-343
• /
• 2013

Integrated Project Delivery (IPD) as a delivery method fully capitalizes on an integrated project team that takes advantage of the knowledge of all team members to maximize project outcomes. IPD is currently the highest form of collaboration available because all three core project stakeholders, owner, designer and contractor, are aligned to the same purpose. Compared with traditional project delivery approaches such as Design-Bid-Build (DBB), Design-Build (DB), and CM at-Risk, IPD is distinguished in that it eliminates the adversarial nature of the business by encouraging transparency, open communication, honesty and collaboration among all project stakeholders. The team appropriately shares the project risk and reward. Sharing reward is easy, while it is hard to fairly share a failure. So the compensation structure and the contingency in IPD are very different from those in traditional delivery methods and they are expected to encourage motivation, inspiration and creativity of all project stakeholders to achieve project success. This paper investigates the compensation structure in IPD and provides a method to determine the proper level of contingency allocation to reduce the risk of cost overrun. It also proposes a method in which contingency could be used as a functional monetary incentive when established to produce the desired level of collaboration in IPD. Based on the compensation structure scenario discovered, a probabilistic contingency calculation model was created by evaluating the random nature of changes and various risk drivers. The model can be used by the IPD team to forecast the probability of the cost overrun and equip the IPD team with confidence to really enjoy the benefits of collaborative team work.

• Korean Journal of Construction Engineering and Management
• /
• v.21 no.3
• /
• pp.76-84
• /
• 2020

The rate of application of the modular plant in the plant industry is increasing, and for the success of the modularization projects, it is essential to develop and implement a systemized methodology across all phases of the project. However, Korean EPC firms lack project management capability when it comes to apply standardized methodology. Therefore, it is important to establish and systematize the cost/schedule integrated management method which are the two core elements of project management technology. This study was conducted to develop a methodology and guidelines for integrated management process for modular plant projects. The researchers developed a methodology for planning and managing cost and schedule, and integrated by module unit. Integrated cost and schedule methodology and guidelines developed can be used for various EPC modular plant projects to enhance the efficiency of project management.

• Journal of Information Technology Applications and Management
• /
• v.11 no.4
• /
• pp.103-120
• /
• 2004

Identifying validated risk factors in software risk management is imperative for project managers. Although validated risk lists were provided by previous researchers, risk list associated with software project performance areas was not provided as yet. This paper represents a first step toward understanding risk lists by various project performance areas (time, cost, and quality) to help project managers alleviating the possibility of software project failure. Four simultaneous exploratory surveys were conducted with 29 experienced software project managers. Three different risk factor ranking sets for each project performance area were compared with, the risk ranking, which was provided without clarifying specific project performance areas. The risk lists and their corresponding perceived importance were different from previous research results. This implies that identifying risk factors for specific project performance areas can provide additional information for project managers. We concluded by discussing implications of our finds for both research and improving risk management practice.

• Journal of Information Technology Services
• /
• v.3 no.2
• /
• pp.53-64
• /
• 2004

For many reasons, SI(Systems Integration) projects can fail. Sometimes, they can result in considerable financial losses to the organizations that undertake them. These projects are abandoned or redirected. However, the cost of project abandonment or redirection can represent a tremendous waste of organizational resources. By managing failure factors carefully, project managers can prevent projects from failing. Types of project failure can be categorized into escalation and de-escalation. Project escalation is that, as projects progress, the project scopes keep increasing. Project de-escalation is that, as projects progress, the project scopes keep decreasing. This study examine relative importance of risk factors that cause project escalation and de-escalation.

• International conference on construction engineering and project management
• /
• 2015.10a
• /
• pp.6-9
• /
• 2015

Traditional project management theory is based on a three-dimensional life cycle approach where the project managerseeks to optimize the dimensions of cost-schedule-technical (quality or design). This paper reports the findings of a case study analysis of two complex mega-projects in Michigan which confirm the findings of previous research and illustrates the use of a framework for five-dimensional project management (5DPM) that is for conceptualizing a complex project's scope of work. The framework elevates the recognition that the project's social/political context and the financial arrangements create complexity adding two new dimensions. This paper also demonstrates a methodology to graphically display a project's complexity to better understand and prioritize the available resources. The result is a "complexity footprint" that may help a complex project manager identify the boundary between controllable and uncontrollable projects impacts. The paper finds that applying 5DPM to the two case study projects has given the project delivery team a tool which is actually adding value to the complex project management process.

• Journal of KIBIM
• /
• v.9 no.2
• /
• pp.1-10
• /
• 2019

In this research, schedule optimization is defined as balancing the number of workers while keeping the demand and needs of the project resources, creating the perfect schedule for each activity. Therefore, when one optimizes a schedule, multiple potentials of schedule changes are assessed to get an instant view of changes that avoid any over and under staffing while maximizing productivity levels for the available labor cost. Optimizing the number of workers in the scheduling process is not a simple task since it usually involves many different factors to be considered such as the development of quantity take-offs, cost estimating, scheduling, direct/indirect costs, and borrowing costs in cash flow while each factor affecting the others simultaneously. That is why the optimization process usually requires complex computational simulations/modeling. This research attempts to find an optimal selection of daily maximum workers in a project while considering the impacts of other factors at the same time through OPEN BIM based multiple computer simulations in resource leveling. This paper integrates several different processes such as quantity take-offs, cost estimating, and scheduling processes through computer aided simulations and prediction in generating/comparing different outcomes of each process. To achieve interoperability among different simulation processes, this research utilized data exchanges supported by building SMART-IFC effort in automating the data extraction and retrieval. Numerous computer simulations were run, which included necessary aspects of construction scheduling, to produce sufficient alternatives for a given project.

• International conference on construction engineering and project management
• /
• 2022.06a
• /
• pp.42-49
• /
• 2022

In recent years, Owner, Architects, and Contractor are increasingly collaborating with each other from pre construction phase in construction projects, which is called Early Contractor Involvement (ECI). In Japan, the ECI method has been introduced in several public building projects since 2015. The purpose of this study is mainly to clarify the characteristics of the ECI method in Japan and to compare the contract clauses of the ECI method in the UK and the USA. The results of the survey are as follows. (1) the ECI method was supposed to make it possible to achieve appropriate quality, cost, and construction period by reflecting Contractor's technology and know-how in the design documents and specifications. (2) According to the database, there were 27 cases of the ECI method in Japan from 2015 to 2021, of which 13 cases for which bidding information could be obtained had a variety of technical proposals, mainly VE proposals, depending on the project characteristics. (3), Japan's ECI method has very much in common with SBC + PCSA in the UK. On the other hand, ECI Method in Japan differs from in the UK in that Owner, Architect, and Contractor enter into a partnership agreement, which is similar to ConsensusDocs CD541 in the USA. (4) The ECI method in Japan has the following problems: Owner depends on Contractor for cost control, the division of roles among project members is complicated, and more work from Owner than the DBB method are required.

• International conference on construction engineering and project management
• /
• 2013.01a
• /
• pp.141-144
• /
• 2013

This paper presents a system called a Cash-flow based Construction Schedule Optimization system(CfSO). The existing CPM effectively handles schedule and cost management. However, funding strategy should be considered to obtain maximum profit and to progress a project favorably. One of measures is to coordinate the contract terms between owner and subcontractors (or suppliers). Contractor may decrease the interest cost attributed to project financing by adjusting the timing of cash-inflows and cash-outflows. It is an excellent method maximizing profits. This paper presents a method to estimate the amount of a cash-flow occurred periodically by integrating the terms of contract into scheduling. The proposed method is implemented as a system prototype in Microsoft Excel. This system provides a user an automated tool that identifies an optimal schedule that secures maximum profit by adjusting start and finish times of non-critical activities' free-floats without affecting on the project completion time. This system supports a project manager to establish an optimum project schedule and identifies profitable contractual conditions against to a construction owner.

• Korean Management Science Review
• /
• v.19 no.2
• /
• pp.191-204
• /
• 2002

As the portion of information systems (IS) budget to the total government budget becomes greater, the cost estimation of IS development and maintenance projects is recognized as one of the most important problems to be resolved for scientific and efficient management of IS budget. Since IS budget makes much effect on the delivery time, quality and productivity of IS projects, the exact cost estimation is also necessary for the successful accomplishment of IS projects. The primary concern in the cost estimation of IS projects is software cost estimation, which requires the measurement of the size of softwares. There are two methods for sizing software : line-of-code approach, function point model. In this paper, we propose a function-point-based model for estimating software cost. The proposed model is derived by collecting about fifty domestic IT projects in public sector and analyzing their relationship between cost drivers and development effort. Since the proposed model is developed by simplifying the function point model that can be used only when detailed user requirements are specified, it can be also applied at project planning and budgeting phase.

• Journal of Construction Engineering and Project Management
• /
• v.1 no.1
• /
• pp.37-43
• /
• 2011

Labor productivity is a significant factor associated with controlling time, cost, and quality. Many researchers have developed models to define methods of measuring the relationship between productivity and various parameters such as the size of working area, maximum working hours, and the crew composition. Most of the previous research has focused on estimating productivity; however, this research concentrates on estimating labor productivity and developing time and cost data for repetitive concrete pouring activity. In Korea, "Standard Estimating" only entails the average productivity data of the construction industry, and it is difficult to predict the time and cost spent on any particular project. As a result, errors occur in estimating duration and cost for individual activities or projects. To address these issues, this research sought to collect data, measure productivity, and develop time and cost data using labor productivity based on field conditions from the collected data. A probabilistic approach is also proposed to develop data. A case study is performed to validate this process using actual data collected from construction sites. It is possible that the result will be used as the EVMS baseline of cost management and schedule management.