• Title/Summary/Keyword: Project cost

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Analyzing Planning Performance of Road Construction Projects Using Preliminary Feasibility Analysis Data (예비타당성조사 결과를 활용한 도로건설사업의 계획단계 성과 분석 연구)

  • Mun, Junbu;Yun, Sungmin
    • Korean Journal of Construction Engineering and Management
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    • v.24 no.1
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    • pp.3-11
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    • 2023
  • According to the post evaluation scheme in Korea of a public construction project which is more than 30 Billion KRW, project performance is evaluated by investigating outcomes and effects of the construction after the completion of the project. The current post evaluation results can be used for planning and estimating a construction project in the future. However, it is not easy to utilized for an on-going project because the system does not provide the phase-based performance of a project. Although project planning performance is important for project initiation, few attempt has been made to evaluate planning performance in Korea. The purpose of this study is to provide a conceptual performance evaluation of planning performance using preliminary feasibility study conducted by Korea Development Institute. This study developed a planning performance database using data extracted from preliminary feasibility study reports of the completed 354 road construction projects. This study analyzed the performance of the planning stage of road projects by developing absolute metrics such as standard construction cost and standard construction schedule based on a Lane-Km. Using the standard construction cost and schedule metrics, the planning performance was analyzed by project characteristics. The results of this study can be used for phase-based performance evaluation from planning phase to construction phase.

A Compensation Method and Comparative Analysis of Historical Unit Price Considering Work Types for Large and Small-Scale Projects (공종별 특성을 고려한 대·소규모 공사의 실적공사비 비교 및 보정방안)

  • Hong, Sung Ho;Lee, Dong Wook
    • KSCE Journal of Civil and Environmental Engineering Research
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    • v.34 no.1
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    • pp.293-303
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    • 2014
  • Recent historical unit price is presented by the Korea Institute of Construction Technology (KICT) and it is analyzed by data from large-scale projects. Therefore it has problem applying to small-scale projects. To indicate the problem, the study compared historical unit price of large-case project and small-case project in the case of civil engineering work, building construction, and mechanical facility work. As a result, average historical unit price of small-scale project was 26.6% higher than large-scale project. On the other hand, difference on the labor cost was 18.4%, difference on material cost and overheads were 8.18%. Moreover, the study proposed compensation method to correct to apply recent historical unit price to small-scale project.

A Sensitivity Analysis for Risk Management of Private Investment Projects - Focused on BTL Projects - (민자유치사업의 리스크 관리를 위한 민감요인 분석 - BTL 사업을 중심으로 -)

  • Kim, Sun-Kuk;Park, Tong-Kyu
    • Korean Journal of Construction Engineering and Management
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    • v.7 no.1 s.29
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    • pp.168-175
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    • 2006
  • Since the partly changed 'Private Investment Act for Social Infrastructure Projects' set forth in January 2005, the number of BTL(Build-Transfer-Lease) projects offered to the market has rapidly increased. The scope of BTL projects offered covers not only legally defined facilities but several facilities for the private schools. A BTL project, by definition, is a way of project management that includes the entire process of development such as planning, design, construction and operation over the period of 20-30 years. As a result, various types of risk may happen at each stage of the project and it is extremely important to efficiently control the sensitive factors that affect the risk profiles of the project. The examples of the sensitive factors are construction cost, interest rate, discount rate, lease amount, rental fee, O&M cost and so on. This study examines the characteristics of these sensitivity factors, analyzes their impact on the project feasibility and suggests the alternatives to manage them efficiently.

Outcome of the Gynecologic Oncology Patients Surveillance Network Program

  • Suprasert, Prapaporn;Suwansirikul, Songkiat;Charoenkwan, Kittipat;Cheewakriangkrai, Chalong;Suwansirikul, Songkiat
    • Asian Pacific Journal of Cancer Prevention
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    • v.16 no.12
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    • pp.4901-4903
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    • 2015
  • The gynecologic oncology patients surveillance network program was conducted with the collaboration of 5 provincial hospitals located in the north of Thailand (Chiang Rai, Lamphun Nan, Phayao and Phrae). The aim was to identify ways of reducing the burden and the cost to the gynecologic cancer patients who needed to travel to the tertiary care hospital for follow up. The clinical data of each patient was transferred to the provincial hospital by the internet via the website www.gogcmu.or.th. All the general gynecologists who participated in this project attended the training course set up for the program. From January 2011 to February 2014, 854 patients who were willing to have their next follow-up at the network hospitals close to their home were enrolled this project. Almost of them were residents in Chiang Rai province and the most common disease was cervical cancer. After the project had been running for 1 year, 604 of the enrolled patients and 21 health-care personnel who had participated in this project were interviewed to assess its success. Some 85.3% of the patients and 100% of the health-care personnel were satisfied with this project. However, 60 patients had withdrawn, the most common reason being the lack of confidence in the follow up at the local provincial hospital. In conclusion, it is possible to initiate a gynecologic oncology patients' surveillance network program and the initiation could reduce the problems associated with and the cost the patients incurred as they journeyed to the tertiary care hospital.

An Analysis of The Critical Risk Factors in Failure Cases of Lifting Equipment Plans in High-rise Construction Project (초고층 프로젝트 양중 계획의 실패 유형별 핵심 리스크 요인 분석)

  • Kim, Nam-Gyun;Kim, Yea-Sang
    • Korean Journal of Construction Engineering and Management
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    • v.14 no.4
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    • pp.73-83
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    • 2013
  • Recently, not only around Korea but also other countries shows a pattern of arising high-rise building construction project which was delayed or aborted during global economic crises and recession. Although the market starts to stretch, It is getting competitive to win a contract in high-rise construction project between contractors due to lack of competitive advantage especially to Korea contractors. To get that, Korean contractors needs lifting equipment plan. But currently, they depend on the empirical methods and that cause schedule delay, not controlled cost management problem. Therefore, this research is to improve the accuracy of Lifting plan by analyzing the current issues of Lifting plan system and deducing the types of failures with planning factors, as well as analyzing the impact on schedule and cost control and safety management by each failure mode. Also, by analyzing detail risk factors per Lifting Equipment with FMEA, to infer the critical risk factor on high-rise construction project.

A Study on the Development of an Operation Risk Analysis Model in BTL Projects (BTL사업 운영리스크 분석 모형 개발에 관한 연구)

  • Lee, Jeong-Sun;Lee, Jeong-Hun;Oh, Se-Wook;Yoo, Hyun-Seok;Kim, Young-Suk
    • Proceedings of the Korean Institute Of Construction Engineering and Management
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    • 2008.11a
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    • pp.475-480
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    • 2008
  • In BTL project, the operation cost covering upcoming 20 years is usually alloted more than construction cost although its plan is made in short time. Therefore, it is a key issue to forecast and to analyze operation risks in the process of making contract in order to successfully finish the BTL project and to ensure the profitability of business. However, only a few domestic professional management companies are capable to carry out funding and facility management. To manage the potential risks efficiently in BLT project, it's essential to prioritize the risk factors by means of considering economical risk level, non-economical risk level and occurrence frequency. Thus, this study suggests risk analysis model for improving efficiency of BTL project from operation company's perspective by means of survey. The suggested risk analysis model is expected to establish a risk management strategy which can improve the efficiency of management affairs in BTL project.

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Feasibility Analysis on Slag Reprocessing Project in Lubumbashi, Democratic Republic of the Congo (DR콩고 루붐바시 슬래그재처리사업(再處理事業)의 경제성(經濟性) 평가(評價))

  • Kim, Yu-Jeong;Kim, Dae-Hyoung
    • Resources Recycling
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    • v.21 no.1
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    • pp.49-59
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    • 2012
  • One of the world's top resource-rich countries, the Democratic Republic of the Congo has ample reserves of cobalt, iron ore, copper and diamond in particular. Importing most of major mineral resources, the Republic of Korea has examined-together with the Congo government since 2008-the possibility of a project where it supports port construction in the Democratic Republic of the Congo and acquires useful minerals such as zinc, cobalt and copper in exchange through slag reprocessing in the local city of Lubumbashi. This study conducted feasibility analysis on the slag reprocessing project in Lubumbashi, Congo and found that the project's payback period stands at 6.7 years, net present value(NPV) at 34 million dollars and internal rate of return(IRR) at 17.4%. According to sensitivity analysis that takes into account uncertainties concerning taxation, fixed cost, operational cost and resource prices, the NPV of the project ranges from -24.8 million dollars to 92.7 million dollars.

Project Participants Cooperative Decision Making Model with QFD-based VE Technique (프로젝트 참여자의 협력적 의사결정이 가능한 QFD 기반 VE 모델)

  • Lim, Chulhee;Chun, Jaeyoul;Lee, Jongsik
    • Korean Journal of Construction Engineering and Management
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    • v.20 no.4
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    • pp.3-12
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    • 2019
  • VE analysis is a method to secure definite functions and performance by defining user's various requirements clearly and propose alternatives to reduce cost. However, the present domestic VE project has difficulty in defining design function analysis clearly due to time constraints as well as difficulty in effective and efficient communication between project stakeholder. Domestic results of VE were largely focused on reducing cost while maintaining the functions of the existing facility. Therefore, this study aims to secure the optimal functions for users according to the original intent of user requirements through QFD-VE model which project VE participants can make collective and cooperative decision making. QFD-VE is a technique that first, it can make collaborative decision making in defining and modifying of design function and setting the importance of requirement function. Second, it allow project VE participants to check design interference and conflict between neighbor systems. This study also provided a mathematical model for implementing the computer system using QFD-VE in the future.

The Impacts of Reduced Labor Hours on the Construction Period and Cost of Tunnel Project (근로시간 단축에 따른 터널 공사의 표준 공기 및 공사비 영향 분석)

  • Park, Taeil;Kim, Kyunghoon;Shin, Eun-Young
    • Korean Journal of Construction Engineering and Management
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    • v.20 no.2
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    • pp.37-43
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    • 2019
  • After the new standards for labor hours has been released, various problems come up in construction field, such as income reduction of employees, extension of construction period and increased construction cost. Although it is expected that the impact of the new standard on the construction industry is more worse than other industries form the view of productivity, not much works have been done to identify those impacts. Thus, this research proposes the standard construction processes, excavation cycle, and unit construction period for NATM tunnel project based on 'Construction Standard Production Rates.'The study also investigated the impact of reduced labor hours on the management of work crews, construction periods and costs of tunnel projects. The results showed that under the 52 labor hour standard, the construction periods for the excavation work and whole project was increased by 20% and 8.9%, respectively, but the construction costs for the excavation work and whole project was decreased by 1.4% and 0.6%, respectively.

Key Performance Indicators for Project Management Performance of Large Contractors in Developing Countries: A Case Study in Vietnam

  • Soo-Yong Kim;Troung-Van Luu
    • International conference on construction engineering and project management
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    • 2009.05a
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    • pp.1599-1607
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    • 2009
  • In order to deal with severe competition in the construction market of developing countries, large contractors must continually improve their own performance and operation. Performance measurement is the heart of ceaseless improvement in organizations. Key performance indicators (KPIs) play a key role in measuring project management performance (PMP) of large contractors in developing countries. The main objective of this paper is to identify KPIs, which can be used to measure PMP of contractors, and then analyze the underlying relationships of these KPIs in order to gain insight into PMP of large construction firms in Vietnam construction industry (VCI). Literature reviews and the pilot survey provided 30 KPIs. Fourteen KPIs, which have the mean values higher than 3.0, were considered as important KPIs through a questionnaire survey of 32 professionals. Factor analysis of these KPIs was employed to categorize them. The results of the survey revealed that top six KPIs are construction time and cost, owner satisfaction on services and products, and quality management and project team performance. Factor analysis uncovered that 14 top-ranked KPIs can be grouped under six categories, namely: (1) construction input management, (2) owner satisfaction, (3) cost and quality, (4) manpower management, (5) subcontractor performance and (6) equipment management. The findings of this research can be used as a guideline to measure PMP of contractors in Vietnam as well as in other developing countries. Since contractors from a country to the other country may have the same manner to manage construction projects, the results of this study may be useful not only to practitioners and researchers in Vietnam but also to participants in other developing countries.

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