• Title/Summary/Keyword: Return of Investment (ROI)

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Empirical Evaluation of BIM Coordinator Performance using Queuing Model in Construction Phase (대기행렬 모형을 활용한 시공단계 BIM 코디네이터 업무 성과 분석)

  • Ham, Nam-Hyuk;Yuh, Ok-Kyung;Ji, Kyu-Hyun
    • Journal of KIBIM
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    • v.8 no.3
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    • pp.31-42
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    • 2018
  • This study focuses on the BIM request for information(RFI) processing performance and quantitatively analyzes the performance of the BIM coordinator and the loss due to the waiting of the project participants. For these purposes, a method to quantitatively evaluate the performance of the BIM coordinator was proposed using a queueing model. For the verification, two projects in which BIM was applied in the construction phase were selected, and the BIM RFI data were collected through the analysis of the BIM monthly report and BIM coordinator work log of each project. In addition, the BIM input personnel, labor cost, and productivity data were collected through interviews with the experts of the case projects. The analysis of the BIM RFI processing performance of the BIM coordinator using the queueing model exhibited on a probabilistic basis that the waiting status of the project participants could vary depending on the preliminary BIM application to the design verification as well as the input number and level of the BIM coordinator personnel. In addition, the loss cost due to the waiting of the project participants was analyzed using the number of BIM RFIs waiting to be processed in the queueing system. Finally, the economic feasibility analysis for the optimal BIM coordinator input was performed considering the loss cost. The results of this study can be used to make decisions about the optimal BIM coordinator input and can provide grounds for the BIM return on investment (ROI) analysis considering the waiting cost of the project participants.

Analysis of BIM Impact on Preventing Rework in Construction Phase (시공단계 BIM 적용에 의한 재시공 방지 효과분석)

  • Lee, Myung-Do;Cha, Min-Su;Lee, Ung-Kyun
    • Journal of the Korea Institute of Building Construction
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    • v.18 no.2
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    • pp.169-176
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    • 2018
  • The purpose of this study is to analyze the effects of applying BIM to the construction phase on preventing rework. Previous studies have presented the contribution of BIM in various ways, but a more practical and reliable analysis methodology are required. In this study, a BIM effect analysis methodology was proposed after collecting requirements on BIM effect analysis from field professionals. In the case study, the rework prevention effect was analyzed based on the proposed methodology. As a result, it was found that BIM application produced the rework prevention effect of approximately KRW 370,519,593. In addition, a consultation with field professionals on the suitability of the proposed methodology and effect analysis results were revealed that the results were sufficiently reliable. The results of this study can be used as efficient basic materials for research on BIM performance measurement in the future.

A Study of Design for the Integrated Architecture of SOA and WOA (SOA와 WOA의 통합 아키텍처 설계에 관한 연구)

  • Park, So-Hyun;Yoo, Hae-Young
    • The KIPS Transactions:PartD
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    • v.17D no.5
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    • pp.317-326
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    • 2010
  • Service Oriented Architecture (SOA), which supports various features such as interoperability and reusability of IT resources, comes into the spotlight as an effective approach for adapting new business environmental changes. SOA, however, has some problems including the high realization complexity and low Return on Investment (ROI). To solve these problems, Web Oriented Architecture (WOA) has gained attention. However, it also has some drawbacks about security concerns and unstable message transmissions. In this paper, we design a novel integrated architecture that classifies services into inside and outside ones and applies SOA for the former and WOA for the latter, respectively. By converging the advantages of SOA and WOA simultaneously, the proposed architecture becomes more simple and service-oriented, and can satisfy diverse requirements of customers. The usefulness evaluation of the proposed architecture is conducted through the Analytic Hierarchy Process (AHP) scheme.

Component-Based Systematic Reengineering Process (컴포넌트 기반의 체계적인 재공학 프로세스)

  • Cha Jung-Jun;Kim Chul Hong;Yang Young-Jong
    • The KIPS Transactions:PartD
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    • v.12D no.7 s.103
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    • pp.947-956
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    • 2005
  • Software(S/W) reengineering is one of the effective technologies to produce a business worth and en and the S/W ROI continuously. In spite of, S/W reengineering has been recognized a cost-consumptive works with inefficient productivity. In fact we have used to transform to confusion system with destructive system architecture by extending and updating legacy system in a temporary expedients. Moreover it is impossible to provide the time-market products for coping with rapid changeable system environment and meeting to complicated customer's requirements. Therefore, we need a systematic reengineering methodology to fulfill the changeable environment, as appearance of new IT techniques, various alteration of business information model, and increment of business logic. Legacy systems can be utilized as the core property in business organization through reengineering methodology. In this paper, we target to establish the reengineering process, proposed MaRMI-RE consisting of initial Planning phase, reverse engineering and component transformation phase. To describe the MaRMI-RE, we presented the concrete tasks and techniques and artifacts per individual phase in process, and the case study is showed briefly.

The Effects of e-Business on Business Performance - In the home-shopping industry - (e-비즈니스가 경영성과에 미치는 영향 -홈쇼핑을 중심으로-)

  • Kim, Sae-Jung;Ahn, Seon-Sook
    • Management & Information Systems Review
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    • v.22
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    • pp.137-165
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    • 2007
  • It seems high time to increase productivity by adopting e-business to overcome challenges posed by both external factors including the appreciation of Korean won, oil hikes and fierce global competition and domestic issues represented by disparities between large corporations and small and medium enterprises (SMEs), Seoul metropolitan and local cities, and export and domestic demand all of which weaken future growth engines in the Korean economy. The demands of the globalization era are for innovative changes in businessprocess and industrial structure aiming for creating new values. To this end, e-business is expected to play a core role in the sophistication of the Korean economy through new values and innovation. In order to examine business performance in e-business-adopting industries, this study analyzed the home shopping industry by closely looking into the financial ratios including the ratio of net profit to sales, the ratio of operation income to sales, the ratio of gross cost to sales cost, the ratio of gross cost to selling, general and administrative (SG&A) expense, and return of investment (ROI). This study, for best outcome, referred to corporate financial statements as a main resource to calculate financial ratios by utilizing Data Analysis, Retrieval and Transfer System (DART) of the Financial Supervisory Service, one of the Korea's financial supervisory authorities. First of all, the result of the trend analysis on the ratio of net profit to sales is as following. CJ Home Shopping has registered a remarkable increase in its ratio of net profit rate to sales since 2002 while its competitors find it hard to catch up with CJ's stunning performances. This is partly due to the efficient management compared to CJ's value of capital. Such significance, if the current trend continues, will make the front-runner assume the largest market share. On the other hand, GS Home Shopping, despite its best organized system and largest value of capital among others, lacks efficiency in management. Second of all, the result of the trend analysis on the ratio of operation income to sales is as following. Both CJ Home Shopping and GS Home Shopping have, until 2004, recorded similar growth trend. However, while CJ Home Shopping's operating income continued to increase in 2005, GS Home Shopping observed its operating income declining which resulted in the increasing income gap with CJ Home Shopping. While CJ Home Shopping with the largest market share in home shopping industryis engaged in aggressive marketing, GS Home Shopping due to its stability-driven management strategies falls behind CJ again in the ratio of operation income to sales in spite of its favorable management environment including its large capital. Companies in the Group B were established in the same year of 2001. NS Home Shopping was the first in the Group B to shift its loss to profit. Woori Home Shopping has continued to post operating loss for three consecutive years and finally was sold to Lotte Group in 2007, but since then, has registered a continuing increase in net income on sales. Third of all, the result of the trend analysis on the ratio of gross cost to sales cost is as following. Since home shopping falls into sales business, its cost of sales is much lower than that of other types of business such as manufacturing industry. Since 2002 in gross costs including cost of sales, SG&A expense, and non-operating expense, cost of sales turned out to have remarkably decreased. Group B has also posted a notable decline in the same sector since 2002. Fourth of all, the result of the trend analysis on the ratio of gross cost to SG&A expense is as following. Due to its unique characteristics, the home shopping industry usually posts ahigh ratio of SG&A expense. However, more than 80% of SG&A expense means the result of lax management and at the same time, a sharp lower net income on sales than other industries. Last but not least, the result of the trend analysis on ROI is as following. As for CJ Home Shopping, the curve of ROI looks similar to that of its investment on fixed assets. As it turned out, the company's ratio of fixed assets to operating income skyrocketed in 2004 and 2005. As far as GS Home Shopping is concerned, its fixed assets are not as much as that of CJ Home Shopping. Consequently, competition in the home shopping industry, at the moment, is among CJ, GS, Hyundai, NS and Woori Home Shoppings, and all of them need to more thoroughly manage their costs. In order for the late-comers of Group B and other home shopping companies to advance further, the current lax management should be reformed particularly on their SG&A expense sector. Provided that the total sales volume in the Internet shopping sector is projected to grow over 20 trillion won by the year 2010, it is concluded that all the participants in the home shopping industry should put strategies on efficient management on costs and expenses as their top priority rather than increase revenues, if they hope to grow even further after 2007.

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A Study on Setting Up Work Conditions for Improving Productiviyt of BIM-based Cost Estimation (BIM 견적 작업 생산성 향상을 위한 업무 환경 조성에 관한 연구)

  • Kim, Seong-Ah;Park, Gweon;Song, Byeong-Seob;Choi, Chel-Ho;Chin, Sang-Yoon
    • Korean Journal of Construction Engineering and Management
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    • v.17 no.1
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    • pp.56-65
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    • 2016
  • Many cases have mentioned the effect by applying BIM on the media such as at conferences, workshops, reports, ect. These cases reported that costs could be saved directly by prevention the need to re-do and reconstruct caused by using BIM. BIM users mentioned that using BIM has potential value in saving costs. The benefits of the BIM include intangible value that cannot be estimated in costs, such as reducing work time and improving productivity. However, the financial value of using BIM, such as Return on Investment, has not yet been exposed, and BIM users have a negative view of the financial value of BIM in Korea. Therefore, this study has researched the effects of applying BIM on construction estimate services in view of business productivity, not finance. This study compared the traditional and BIM based estimation, and verified the effect of estimating BIM through work sampling. This study investigated a precondition for getting the effects of BIM based estimation. The results show a need for BIM education, 3D Modeling standards, and database on quantity in order to improve product ivity and reduce work time on BIM based estimation

A Study on the Born Global Venture Corporation's Characteristics and Performance ('본글로벌(born global)전략'을 추구하는 벤처기업의 특성과 성과에 관한 연구)

  • Kim, Hyung-Jun;Jung, Duk-Hwa
    • Journal of Global Scholars of Marketing Science
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    • v.17 no.3
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    • pp.39-59
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    • 2007
  • The international involvement of a firm has been described as a gradual development process "a process in which the enterprise gradually increases its international involvement in many studies. This process evolves in the interplay between the development of knowledge about foreign markets and operations on one hand and increasing commitment of resources to foreign markets on the other." On the basis of Uppsala internationalization model, many studies strengthen strong theoretical and empirical support. According to the predictions of the classic stages theory, the internationalization process of firms have been recognized and characterized gradual evolution to foreign markets, so called stage theory: indirect & direct export, strategic alliance and foreign direct investment. However, termed "international new ventures" (McDougall, Shane, and Oviatt 1994), "born globals" (Knight 1997; Knight and Cavusgil 1996; Madsen and Servais 1997), "instant internationals" (Preece, Miles, and Baetz 1999), or "global startups" (Oviatt and McDougall 1994) have been used and come into spotlight in internationalization study of technology intensity venture companies. Recent researches focused on venture company have suggested the phenomenons of 'born global' firms as a contradiction to the stages theory. Especially the article by Oviatt and McDougall threw the spotlight on international entrepreneurs, on international new ventures, and on their importance in the globalising world economy. Since venture companies have, by definition. lack of economies of scale, lack of resources (financial and knowledge), and aversion to risk taking, they have a difficulty in expanding their market to abroad and pursue internalization gradually and step by step. However many venture companies have pursued 'Born Global Strategy', which is different from process strategy, because corporate's environment has been rapidly changing to globalization. The existing studies investigate that (1) why the ventures enter into overseas market in those early stage, even in infancy, (2) what make the different international strategy among ventures and the born global strategy is better to the infant ventures. However, as for venture's performance(growth and profitability), the existing results do not correspond each other. They also, don't include marketing strategy (differentiation, low price, market breadth and market pioneer) that is important factors in studying of BGV's performance. In this paper I aim to delineate the appearance of international new ventures and the phenomenons of venture companies' internationalization strategy. In order to verify research problems, I develop a resource-based model and marketing strategies for analyzing the effects of the born global venture firms. In this paper, I suggested 3 research problems. First, do the korean venture companies take some advantages in the aspects of corporate's performances (growth, profitability and overall market performances) when they pursue internationalization from inception? Second, do the korean BGV have firm specific assets (foreign experiences, foreign orientation, organizational absorptive capacity)? Third, What are the marketing strategies of korean BGV and is it different from others? Under these problems, I test then (1) whether the BGV that a firm started its internationalization activity almost from inception, has more intangible resources(foreign experience of corporate members, foreign orientation, technological competences and absorptive capacity) than any other venture firms(Non_BGV) and (2) also whether the BGV's marketing strategies-differentiation, low price, market diversification and preemption strategy are different from Non_BGV. Above all, the main purpose of this research is that results achieved by BGV are indeed better than those obtained by Non_BGV firms with respect to firm's growth rate and efficiency. To do this research, I surveyed venture companies located in Seoul and Deajeon in Korea during November to December, 2005. I gather the data from 200 venture companies and then selected 84 samples, which have been founded during 1999${\sim}$2000. To compare BGV's characteristics with those of Non_BGV, I also had to classify BGV by export intensity over 50% among five or six aged venture firms. Many other researches tried to classify BGV and Non_BGV, but there were various criterion as many as researchers studied on this topic. Some of them use time gap, which is time difference of establishment and it's first internationalization experience and others use export intensity, ration of export sales amount divided by total sales amount. Although using a mixed criterion of prior research in my case, I do think this kinds of criterion is subjective and arbitrary rather than objective, so I do mention my research has some critical limitation in the classification of BGV and Non_BGV. The first purpose of research is the test of difference of performance between BGV and Non_BGV. As a result of t-test, the research show that there are statistically efficient difference not only in the growth rate (sales growth rate compared to competitors and 3 years averaged sales growth rate) but also in general market performance of BGV. But in case of profitability performance, the hypothesis that is BGV is more profit (return on investment(ROI) compared to competitors and 3 years averaged ROI) than Non-BGV was not supported. From these results, this paper concludes that BGV grows rapidly and gets a high market performance (in aspect of market share and customer loyalty) but there is no profitability difference between BGV and Non_BGV. The second result is that BGV have more absorptive capacity especially, knowledge competence, and entrepreneur's international experience than Non_BGV. And this paper also found BGV search for product differentiation, exemption strategy and market diversification strategy while Non_BGV search for low price strategy. These results have never been dealt with other existing studies. This research has some limitations. First limitation is concerned about the definition of BGV, as I mentioned above. Conceptually speaking, BGV is defined as company pursue internationalization from inception, but in empirical study, it's very difficult to classify between BGV and Non_BGV. I tried to classify on the basis of time difference and export intensity, this criterions are so subjective and arbitrary that the results are not robust if the criterion were changed. Second limitation is concerned about sample used in this research. I surveyed venture companies just located in Seoul and Daejeon and also use only 84 samples which more or less provoke sample bias problem and generalization of results. I think the more following studies that focus on ventures located in other region, the better to verify the results of this paper.

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