• Title/Summary/Keyword: Project cost

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Application of Construction Management techniques in Small Construction Projects (소규모 프로젝트의 효율적인 공사관리방안)

  • Lee, Sang-Beom;Lee, Dong-Un
    • Journal of the Korea Institute of Building Construction
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    • v.3 no.4
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    • pp.95-102
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    • 2003
  • A construction project's period is limited by the order manufacture. And a construction project is requested a specific place, and has the characteristic to be irregular. Today, construction is to be representative high-cost and low-efficiency. This kind of problems appears in small construction projects more often than large construction projects. According to this facts, we recognized necessity of making practical application in methods of construction management. Also, we suggest application and establishment of integrated responsibility management department, PMIS(Project Management Information System) and Data Base. From now on, methods of construction management could be good opportunities for small construction projects and local construction companies. Therefore, small and local construction companies should try to improve their abilities. Likewise, the countries systematize to constitute the relation laws.

Valuation of Benefits from the Adoption of Project Information Management System

  • Kyong Ju Kim;Kyoungmin Kim;Ki Yong Kang;Geon Hee Lee
    • International conference on construction engineering and project management
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    • 2009.05a
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    • pp.1548-1552
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    • 2009
  • In the construction industry, IT has been an alternative for the enhancement of productivity and technical advances through a paradigm shift. While it has been recognized that the IT system will have a substantial influence on the industry, a quantitative valuation has been very limited. This paper has chosen EVMS (Earned Value Management System), which supports the integrated management of cost and schedule by utilizing IT tools, and which is the largest trend in the construction IT industry in Korea, in order to suggest an analysis model for the valuation of IT. The CVM (Contingent Valuation Method) is used to quantitatively measure intangible value of IT application. Then, a valuation and analysis model were suggested for the quantitative valuation of the effect of IT adoption. In terms of willingness to pay for EVMS, the expected benefits from the adoption of EVMS were US$ 584.52 per man annually. This research should be helpful for construction companies evaluating their investment to Project Management Information System.

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USING PROCESS MAPPING IN CONSTRUCTION PROCESS TO REDUCE CHANGE ORDERS

  • Sang-Hoon Lee;Carolina Fuzetti;Lingguang Song;Kyungrai Kim
    • International conference on construction engineering and project management
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    • 2009.05a
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    • pp.616-621
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    • 2009
  • Change orders represent one of the largest sources of cost growth on construction projects, but an efficient change management control system can help the projects steer clear of the constant construction changes. This study was performed to achieve a better understanding of all changes and to develop a new set of Best Practices using process mapping techniques. The project data for this research were collected from case studies of aviation projects implemented in Houston, Texas at Bush Intercontinental Airport. The findings and contributions of this research should help owners and project managers determine and identify major causes that impact project budget and schedule and implement solutions prior to them surfacing.

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MEASURING AND COMPARING PROFIT PATTERNS OF TRADITIONAL CONSTRUCTION COMPANIES EXTENDING TO HIGH-TECH CONSTRUCTION

  • Jieh-Haur Chen;Chung-Fah Huang;S. C. Hsu
    • International conference on construction engineering and project management
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    • 2005.10a
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    • pp.360-365
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    • 2005
  • The need of constructing high-tech facilities is one of the important issues concerning the competitiveness by the high-tech companies. It, simultaneously, offers a magnificent opportunity for construction participants. Nevertheless, the high-tech construction is experience-based, resulting in little related construction knowledge that has been statistically analyzed and documented. This study measures and confers with the profit patterns causing the disparity between the traditional and high-tech construction. The database was the result of collecting detailed information of 65 construction projects from eight construction companies, including detailed records of over 20 main construction operations in each project. All of these were performed during the recent 10 years and encompassed in the project types of the high-tech construction, residential building, and commercial building. Rendering suggestions regarding profit management and expecting to economize cost of learning from inexperience while extending to the high-tech construction were both presented.

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A CP-BASED OPTIMIZATION MODEL FOR CONSTRUCTION RESCHEDULING PROBLEMS

  • Shu-Shun Liu;Kuo-Chuan Shih
    • International conference on construction engineering and project management
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    • 2005.10a
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    • pp.941-946
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    • 2005
  • It is essential for project managers to make schedule adjustment based on their professional experience, in terms of rescheduling action discussed in this paper. This paper discusses the topics of resource-constrained construction rescheduling by modifying the concepts of manufacturing rescheduling. Moreover, the influence factors of construction rescheduling problems are investigated and identified in this paper. According to initial schedule plan and present progress, a new rescheduling mechanism based on Constraint Programming (CP) techniques is developed to reschedule projects with the objective of minimizing total project cost or duration, under three rescheduling policies. Through case study, the behavior of three different rescheduling policies is analyzed and discussed in this paper.

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Development of Loss Model Based on Quantitative Risk Analysis of Infrastructure Construction Project: Focusing on Bridge Construction Project (인프라건설 프로젝트 리스크 분석에 따른 손실 정량화 모델 개발 연구: 교량프로젝트를 중심으로)

  • Oh, Gyu-Ho;Ahn, Sungjin
    • Proceedings of the Korean Institute of Building Construction Conference
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    • 2022.04a
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    • pp.208-209
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    • 2022
  • This study aims to analyze the risk factors caused by object damage and third-party damage loss in actual bridge construction based on past insurance premium payment data from major domestic insurers for bridge construction projects, and develop a quantitative loss prediction model. For the development of quantitative bridge construction loss model, the dependent variable was selected as the loss ratio, and the independent variable adopted 1) Technical factors: superstructure type, foundation type, construction method, and bridge length 2) Natural hazards: flood anf Typhoon, 3) Project information: total construction duration, total cost and ranking. Among the selected independent variables, superstructure type, construction method, and project period were shown to affect the ratio of bridge construction losses, while superstructure, foundation, flood and ranking were shown to affect the ratio of the third-party losses.

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Development of A Computerized Risk Management System for International EPCS Projects

  • Yoo, Wi Sung;Kim, Woo-young;Sung, Yookyung
    • International conference on construction engineering and project management
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    • 2015.10a
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    • pp.614-615
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    • 2015
  • In these days, global construction market is speedily increasing and domestic construction companies have a chance of new contracts. In the meantime, international projects have been increasingly forced to cope with potential risks, which seriously impacted achieving the targeted time and cost. In this study, we introduce a computerized risk management system for international EPCS projects, which is constructed on the needs of practitioners and decision makers as an aid to proactively control the potential risks and to monitor continuously their status and variation. The system is called the Project Risk Management System (PRiMS) is useful for furnishing project managers with warning signals as a project is progressing and helpful for producing the total risk score and tracking risk variation.

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A PROFIRABILITY MODEL BASED ON PRIMARY FACTOR ANALYSIS IN THE EARLY PHASE OF HOUSING REDEVELOPMENT PROJECTS

  • Kyeong-Hwan Ahn;U-Yeong Gim;Jong-Sik Lee;Won Kwon;Jae-Youl Chun
    • International conference on construction engineering and project management
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    • 2013.01a
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    • pp.497-501
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    • 2013
  • An important decision-making element for the success of housing redevelopment projects is a prediction of the profitability of redevelopment. Risk factors influencing profitability were deduced through a review of the literature about profitability and a risk analysis developed by a survey of maintenance projects. In addition, a profitability prediction depending on the analysis of risk factors is necessary to judge the business feasibility of a project in the planning stages. A profitability prediction model of management and disposal method, which is calculated by proportional rate and which helps estimate contributions to profitability, is proposed to prevent difficulties in business development. The proposed model has the potential to prevent interruptions, reduce the length of projects, generate cost savings, and enable rational decision-making during the project period by allowing a judgment of profitability at the planning stage.

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Investigating the Maintenance Cost of Rest Areas: A Case Study of Nevada

  • Shrestha, Kishor;Shrestha, Pramen P.
    • International conference on construction engineering and project management
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    • 2022.06a
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    • pp.624-631
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    • 2022
  • Highway Rest Areas are envisioned to provide an accessible space for rest and parking for travelers, especially those driving a long distance. In addition, modern highway Rest Areas provide many amenities to highway users, including wifi service, picnic tables, litter barrels, running water, public telephones, and sometimes even free coffee. Various studies were conducted in the domain of Rest Area facility design and their operating costs in different states; however, limited studies were conducted on the maintenance costs of these facilities. Therefore, this study's main objective is to compute the annual maintenance cost of Rest Areas in the state of Nevada. This study also analyzes the main cost categories of the maintenance works. The raw cost data of Nevada Rest Area maintenance from 1990 to 2012 were collected from the Nevada Department of Transportation (NDOT). Results show that the maintenance cost fluctuated over the study period; the maintenance cost decreased from 1991 to 2004 and then increased until 2012. The primary cost categories of maintenance work are labor, equipment, and material costs. Among these, labor cost was the largest category with 56 percent of the total maintenance cost, followed by equipment cost and material cost. The findings of this study may help NDOT and other transportation agencies plan their budget for future Rest Area maintenance activities.

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A Case Study on Resident Participative Primary Design of Integrated Rural Development Project with Master Planner - Onui Area in Hong Seong - (총괄계획가 시범사업에서 주민참여 기본계획 사례연구 - 홍성 오누이권역을 대상으로 -)

  • Jung, Nam Su
    • Journal of Korean Society of Rural Planning
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    • v.21 no.4
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    • pp.167-175
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    • 2015
  • The aim of this study is to establish resident-participative primary design of integrated rural development project with master planner by setting principals of open competition and transparent decision-making about village-to-village or business-to-business unit enterprise in Onui area, Hong-seong Gun. For effective processing, software projects such as residents education and rural landscape planning are simultaneously conducted for enhancing project understanding and comprehensive development plan including related post project. Above all, competition teams for individual project were organized to establish the resident-participative primary design using survey tables of residents demand. In 6 months resident-participative processing of primary design, continuous education and visiting to advanced area are conducted in team unit. Strengthened ability of team unit can be used in management and maintenance after project development. To do this, residents with the same opinions gathered as one competition team and identified business plans such as village asset, business location, size, program, and method for land securing. Favorable decision-making process by residents who are audience in project presentation of competition team has conducted. After selecting competition teams, continuos consulting are operated for establishing operation and management for developed or remodeled facilities through repetitive education and visiting advanced area. In this process, unit project suggested by competition team are completed. Preliminary selection was conducted by experts who were entrusted by residents. After residents agreement of project main stream such as major facilities and location, final detailed cost of projects are work out. Suggested process in this study which choose the final project by residents would improve residents' voluntary participation in integrated rural development project through open competition in establishing primary design.