• Title/Summary/Keyword: Project cost

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A Study on the Agile Approach in Battlefield Management Information System R&D Project in Korea Military (국방 전장관리정보체계 연구개발사업의 애자일 적용 방안 연구)

  • Yun, SungHyun;Lim, GyooGun
    • Journal of Information Technology Services
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    • v.20 no.1
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    • pp.41-54
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    • 2021
  • The SW-centered battlefield management information system R&D project takes a long period of 5-10 years or more by applying a complex and rigid batch acquisition strategy. In order to solve this problem, it is necessary to institutionalize a rapid and flexible battlefield management information system R&D project management procedure applying agile development methodology, and a government project management organization and contract management method to support it In this study, we analyzed the case of applying the Agile development method centered on Scrum to the US SW-centered weapon system R&D project and the characteristics and problems of the battlefield management information system R&D project in Korea, and suggested improvement measures as follows. First, the battlefield management information system R&D model applies the hybrid development method, and the system requirements analysis and system structure design use the existing waterfall development procedure, and the agile method is applied from the SW requirements analysis to the system integration stage. Second, flexible adjustment of performance, schedule, and cost by organizing an Agile IPT in which military (requirements) - DAPA (project management) - developer - functional specialized organizations (test and evaluation, quality, government research institutes, etc.) participate. Third, improving the Basic Order Agreement so that it can be applied to agile R&D.

Multi-family Residential Construction Management Practice in the U.S.

  • Cho, Namho
    • International conference on construction engineering and project management
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    • 2022.06a
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    • pp.1254-1254
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    • 2022
  • The Multi-family Residential is one of the most famous building types for a rental property in the US. Often times it includes multiple residential buildings and some amenity facilities, including a clubhouse or leasing office, swimming pool, dog park, and garages. Since the building type is built for rental purposes, the construction planning is phased and it makes the project complicated. Detailed planning and execution are important for successful construction management. This paper provides some management practices that are applied to one of the multi-family residential construction projects in Phoenix, AZ. The Front End Planning (FEP) process performed by both owner and contractor is the first key to a successful construction project. Specifically, the early review of phased turnover strategy, grading, fire/Americans with Disabilities Act (ADA) compliance, and Mechanical/ Electricity/Plumbing/Technology (MEPT) will provide absolute benefit to the project. Second, using a scheduling method to control short-term schedules and long-term can provide the ability to manage the issues with agility. Third, material delivery and procurement dominate the both project schedule and cost. With this COVID-19 circumstance, it is hard to expect the material, equipment, and labor forces to be delivered on time with the contracted price. Managing floats are more than important to managing construction productivity. Risk management should work to share the risks fairly. Lastly, turnover is directly linked with the profit of the project for both owner and contractor. The communication between the owner and contractor to re-schedule the proper turnover schedule is important for the phased construction project.

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Life Cycle Cost Breakdown Structure Development of Buildings through Delphi Analysis

  • Jeong, Jae-Hyuk;Shin, Han-Woo;Ryu, Han-Guk;Kim, Gwang-Hee;Kim, Tae-Hui
    • Journal of the Korea Institute of Building Construction
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    • v.12 no.5
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    • pp.528-538
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    • 2012
  • With domestic construction projects becoming bigger, more specialized and more advanced, the construction industry is striving to improve quality and quantity, and is diversifying functions and shapes. Nevertheless, the process of a construction project causes problems when we estimate construction price, because the cost breakdown structures are different in each step. The primary aim of this study was to estimate building life cycle cost using the Delphi method. The cost breakdown structure for life cycle cost was classified into planning, design, construction, maintenance and waste disposal, and each detailed classification was determined by estimating life cycle cost. Moreover, the developed cost breakdown structure is verified by consulting with experts to secure objectivity and validity.

Global Project Finance Trends and Commercial Risk Analysis (글로벌 프로젝트 파이낸스 최근 동향 및 상업위험 분석)

  • Kim, Sang Man
    • THE INTERNATIONAL COMMERCE & LAW REVIEW
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    • v.61
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    • pp.273-302
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    • 2014
  • Project finance ("PF") is a method of raising long-term debt financing based on lending against the cash flow generated by the project alone. Project finance is a nonrecourse or limited recourse financing structure against the sponsors(or the investors). The debt terms in a project finance are not based on the creditor's credit support or on the value of the assets of the project. Lenders rely on the future cash flow to be generated by the project for debt repayment and interest, rather than the value of the project or the credit ratings of the sponsors. The non-recourse or limited recourse financing usually prompt potential project finance lenders to assess carefully all possible risks that might arise in a project to ensure that those risks are mitigated and controlled. In this respect, project finance is a opposite financing method of corporate finance. Project finance has rapidly grown over the last 20 years due to the worldwide process of privatization of public sector and development of natural resources. Global project finance volume reached the record USD 406.5 billion in 2011. In 2012, however, Global project finance volume dropped 6% to USD 382.3 billion. Infrastructure overtook Energy to lead all sectors with USD 113.6 billion. It is generally recognized that there are more and higher risks in project finance compared with corporate finance. Project finance is exposed to commercial risks as well as political risks. The main commercial risks are completion risks, environmental risks, operating risks, input supply risks, revenue risks, etc, and the main political risks are currency convertibility and transfer risks, expropriation risks, war and civil disturbance risks, risks of breach of government concession agreement, etc. Completion risks include permits risks, risks relating to the EPC Contractor, construction cost overrun, delay in completion, inadequate performance on completion, etc.

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Economic Impact Analysis of Disaster Mitigation Projects in Hazardous Areas (자연재해위험지구 정비사업의 투자효과분석)

  • Heo, Bo-Young;Yu, Soonyoung;Kim, Sung-Wook
    • Economic and Environmental Geology
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    • v.46 no.3
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    • pp.247-256
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    • 2013
  • In order to improve the quality assurance of the disaster mitigation projects, the economic effect of these projects in the hazardous areas was analysed. Eight project sites were selected for analyses based on the disaster data during the previous 10 years, and the investment effect was evaluated using a benefit cost ratio (B/C). The benefit was estimated using the historical disaster data and presumed to continue for 30 years, while the cost was assumed with the total project cost. Analysis results indicate the B/C ratio is larger than 1 in the difference range, depending on factors such as impact areas and discount rates. According to the analysis results, the average B/C of the eight projects is 4.1 with assuming the discount rate of 4% and the impact diameter of 5 km, which implies that a disaster management project in hazardous areas will give the positive investment effects.

The Study on the System to Estimate the Cost by Using Regression in the Early Stage of the Project (공사 초기단계에서의 회귀분석을 이용한 최종공사비(EAC) 추정 방법)

  • Lee, Youn-Mi;Lee, Man-Hee;Lee, Hak-Ki
    • Proceedings of the Korean Institute Of Construction Engineering and Management
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    • 2006.11a
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    • pp.274-277
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    • 2006
  • The EAC(Estimate at Completion) among existing methods, which estimate cost and time effectively, help managers anticipate changeable several results at the point of $15{\sim}30%$ in the project progress. However, this method may cause such some problems as not to consider the periodically changing circumstances caused by construction risks or uncertainties which can affect the cost and time in the project, and to regard collected and accumulated data only as a single value when predicting the results on the progress. Accordingly, it is very difficult to accept the even small range of variability based on the anticipation of EAC. Consequently, the study focuses on the possibility methodology to anticipate time and cost accurately on the way to utilize EVMS(Earned Value Management System), and also suggest the way to perform the right estimation of EAC as considering various risks and uncertainties in construction projects.

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