• Journal of the Korea Institute of Building Construction
• /
• v.14 no.6
• /
• pp.591-596
• /
• 2014

This study investigates the perception of the sunken costs of an urban development project, which is currently a social problem through a questionnaire survey. The results indicate that local and federal governments, political authorities, association members, landowners, etc. partially recognize their responsibility in bearing the sunken cost. It is also found that all stakeholders who participated in the maintenance project felt shared responsibility of bearing the sunken costs and exchanging solutions to mitigate the same, rather than making one party deal with the same. This study also suggests that with regard to reducing these sunken costs, the public sector should offer indirect support (by bearing the cost of infrastructure, tax benefits, regulation relaxation, etc.) rather than direct support so that the association members can make a reasonable choice on the project execution.

• The KIPS Transactions:PartD
• /
• v.10D no.7
• /
• pp.1127-1136
• /
• 2003

Estimation of software project cost, effort and duration in the early stage of software development cycle is a difficult and key problem in software engineering. Most of models estimate the development effort using the function point that is measured from the requirement specification. This paper presents optimal team size and duration prediction based on function point in order to provide information that can be used as a guide in selecting the most Practical and productive team size for a software development project. We introduce to productive metrics and cost for decision criteria of ideal team size and duration. The experimental is based on the analysis of 300 development and enhancement software project data. These data sets are divide in two subgroups. One is a development project; the other is a maintenance project. As a result of evaluation by productivity and cost measured criteria in two subgroups, we come to the conclusion that the most successful projects has small teams and minimum duration. Also, I proposed that predictive model for team sire and duration according to function point size based on experimental results. The presented models gives a criteria for necessary team site and duration according to the software size.

• Journal of Energy Engineering
• /
• v.21 no.2
• /
• pp.179-186
• /
• 2012

A climate change by increase of greenhouse gas is coming to the front by a large issue, and oxy-combustion demonstration project is coming to the attention to one plans for the reduction of carbon dioxide in power generation sector that used a fossil energy in points of time. This paper estimates benefit of electric generation, benefit of greenhouse gas reduction, benefit of environmental pollutant decreasing and domestic and foreign market value-added benefit caused by oxy-combustion demonstration project. Furthermore, this paper attempts to cost-benefit analysis, using NPV, B/C ratio, IRR techniques for oxy-combustion demonstration project. The results indicate that NPV is 681,620million KRW, B/C ratio 1.69 and IRR 21.4%. Accordingly, oxy-combustion demonstration project ensures economic feasibility that the three indicators have exceeded 0, 1.0 and 5.5%. Moreover, uses of the result is useful for the reduction of carbon dioxide in thermal power generation sector of policy decision.

• Korean Journal of Agricultural Science
• /
• v.29 no.1
• /
• pp.55-65
• /
• 2002

The most representative fruit in Yanbian area is Applepear(Ping Guo Li). It has been a important resource of farm income. According to the economic growth and income Increase of individual consumers, food consumption pattern will be changed from grain to high value cash crops such as Applepear and vegetables. The globalization and adapt ion of free market oriented economic policy of China government have led to change the collective farming system to individual farm management system. The institutional transformation have brought about high productivity of farm products and incomes of farmers. Therefore the plantation area of Applepear and requirement of investment cost for establishment of Applepear farms have increased rapidly since the 1980's, the time of perestroika and glasnost in Chinese economy. In prosperity of Chinese agriculture, individual farmer's decision making as free selection of farmland use, selection of high pay-off crops, free sale of the products in free market and credit support for the project might be the most important factors. In case of Applepear farm development, net present value of the project net benefit was estimated at 55.518won per hectare and financial rate of return was 21%. The benefit/cost ratio of the project was 2.11. Considering 10% of discounting rate or the opportunity cost of capital in China the Applepear farm development project showed us economically feasible in the light of the above efficiency indices. The Chinese government has to support Applepear farm development project financially and institutionally considering the high-payoff benefit of the fruit and farmer's in come increase in the future.

• International conference on construction engineering and project management
• /
• 2009.05a
• /
• pp.1564-1569
• /
• 2009

Project managers play a key role in cost, time, and quality of a project. Selection of an appropriate project manager, therefore, is considered as one of the most important decisions in any construction project. It should be noted that most important decision makings are carried out by the project manager throughout the project. Traditionally, project manager selection in construction companies in Iran is through organizing an interview with candidates and selecting the most appropriate choice in accordance with the capabilities, potentials and individual specifications coupled with the requirements of the project. In the same direction, organizing interview on selection of appropriate candidate is usually carried out by senior managers of companies. Determination of the most important criteria for selection of project managers and also identification of significance coefficient of each criterion can highly help senior managers of companies to make sound selection decisions. In this paper, a numerical model has been considered for determination of significance of each criterion, details of which are submitted for selection of project manager in Iranian petrochemical, oil and gas sector companies. For this reason, all criteria- considered by senior managers of the companies under study- are first determined. Then, information obtained through 38 interviews, conducted by senior managers of the mentioned companies while selecting project manager, is analyzed. Significant coefficient of each criterion is calculated through the accumulated data using fuzzy curves method.

• International conference on construction engineering and project management
• /
• 2022.06a
• /
• pp.25-32
• /
• 2022

As a project delivery method, Design-Build (DB) has provided owner, architect, and contractor groups with a process of early design and rapid construction for the past three decades. Although there are many benefits to using standard DB, dissatisfaction has arisen due to limitations to innovate, limited owner involvement during design, and often lengthy procurement. Progressive Design-Build (PDB) has become an appealing alternative providing benefits not seen with standard DB. This paper investigates how PDB impacts a project and how it compares against standard DB; it also presents a proposed framework for evaluating the owner's responsibility and assessment of a project, which we named the "Four Pillars of Project Success". The four pillars are defined with respect to an owner's responsibility and assessment of a project, including project predictability, project risk, project schedule, and project cost. We conducted a literature review, examined several public project case studies, analyzed PDB project information collected by the Design-Build Institute of America (DBIA), and held stakeholder interviews with owners, contractors, and architects who have used both PDB and standard DB. This paper offers insight into PDB's structure and outcomes so an owner group can make an informed decision when considering PDB as their next construction contracting method.

• Proceedings of the Korean Institute Of Construction Engineering and Management
• /
• autumn
• /
• pp.187-192
• /
• 2001

High-Rise Building Construction Project which has high uncertainty and complexity, causes lots of problems under construction. In particular, the integration between design phase and construction phase highly affects a construction project in terms of cost and time. To possibly make the flexible response and preliminary verification against the construction planning problems in high rise building project, this paper proposes the Engineering-Construction Management System based on 4D CAD that put the time factor together with 3D CAD. The usefulness of this system has been verified through the actual project. It could helps the reducing trials and errors during construction phase by catching the factors on problems of project. Ultimately it will allow users to save project cost and duration by field application.

• Korean Journal of Construction Engineering and Management
• /
• v.22 no.1
• /
• pp.90-97
• /
• 2021

Saemangeum Development is the largest national project in South Korea, which has been developed for an agricultural, economic and tourist area for 30 years from 1987. In order to convert power sources that used to depend on nuclear and thermal power to eco-friendly for carbon reduction, the government plans to construct a 2.1GW floating photovoltaic project by investing 4.6 trillion won, as a public-private project. For success of the Saemangeum floating photovoltaic project, economic feasibility should be checked. This study defined the factors (construction cost, electricity selling price, power generation and maintenance cost) that give a effect to the volatility of the floating photovoltaic payoffs, and analyzed the volatility of payoffs during 20 years operation period. NPV and option value of the project were calculated by applying an option to abandon. According to NPV analysis, it is determined that projects are difficult to invest. But this project has economic feasibility through real options analysis. This study is expected to help decision-makers in the economic analysis of floating photovoltaic projects by using the real options analysis.

• International conference on construction engineering and project management
• /
• 2020.12a
• /
• pp.425-432
• /
• 2020

In order to improve the sustainability and smart construction, it is discussed arguably that developing and applying consistent "standard model" to plan business, design, construct and operate a building is considered to be one of the effective and efficient approach. The scope of this article is to examine, from the international developer's perspective, the "standard model" approach of a hotel brand to building projects in the UK, and also to explore potential role of project team to mitigate any local difference at the project level. These projects are developed by the same developer adopting the same business plan, design and operation to each project. In order to clarify the actual and likely difference in construction results, reference is also made to those building projects located in other geographical markets including Japan, Germany and USA, and focus is given on the analysis of its programme and cost. Principle findings are that there exists geographical difference especially in environmental and planning system, and that major local difference is found at least in the programme at the design stage. In contrast, the difference in the building cost itself may not be necessarily considered major if currency exchange rate being taken into account appropriately. It is also observed that there were cases where any difference in the programme was mitigated by taking different approach to procuring and defining roles of management and professional team at the project level. In conclusion, from the international developer's perspective, the geographical difference of the "construction system" surrounding building projects can typically lead to major prolongation of programme, however, these different construction results could be mitigated at least to a certain extent by introducing appropriate changes to the role of project team.

• Journal of Environmental Impact Assessment
• /
• v.4 no.2
• /
• pp.151-156
• /
• 1995

Public participation in Environmental Impact Assessment (EIA) process has been implemented since the introduction of EIA project on August 1 1991, followed with Environmental Policy Act promulgation on August 1 1990. Though public participation has room for improvement. This study compared before and after the introduction of public participation on EIS preparation cost, project cost, EIS preparation term and project term through 293 EISs analysis. Also public opinions in EIS after introduction of public participation were analyzed. The results are expected to be contributed to the system improvement of public participation.