• Title/Summary/Keyword: Total Project Cost Management System

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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 Simple Interactive 3D Interior Design Application for Living Room - Cost Management

  • Winnie, Chin;Hui, Saw Seow;Gee, Yap Seok
    • Journal of Multimedia Information System
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    • v.4 no.3
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    • pp.157-162
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    • 2017
  • The title of this project is "A Simple Interactive 3D Interior Design Application for Living Room - Cost Management", focusing on developing an application that enables costing and designing to be executed concurrently in interior design phases. This is because any changes made at costing phase after design phase is completed, it will potentially lead to unnecessary increase in cost and time. Therefore, the objective of this project is aimed to devise a cost management module to be included in the proposed application, allowing interior designer to make cost-based decision at the designing phase itself. This can be achieved through its proposed functions which include total cost update, budget management, cost estimator calculator and material list generation. The methodology being proposed in this project is Prototyping Development, categorized under Rapid Application Development (RAD), by starting off with planning, analysis, design and implementation phases are performed concurrently and repeatedly in a cycle to produce a prototype until the application is completed. In the end of this project, the developed prototype is expected to contribute a better solution towards cost management in interior design.

A Study on the Improvement of Total Cost Change Control in Private Investment Projects (민간투자시설사업에 있어 총사업비 변경관리의 개선방안 연구 - 고속도로 민간투자시설사업을 중심으로)

  • Kim Se-Jong;Kim Yong-Su
    • Proceedings of the Korean Institute Of Construction Engineering and Management
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    • autumn
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    • pp.119-126
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    • 2001
  • This paper analyzes problems related to total cost changes in private investment projects, and then proposes an improvement measure for the control of cost changes within the framework of the project management, contract, human resource, project communication, cost, and time management. From the viewpoint of contract management, the basis of cost change ought to be cleared up with standardization of related provisions in the concession agreement, and potentiality of change ought to be excluded with prescription of the private investor's leading role from the design phase. Regarding human resource management, this paper proposes a standard work flow granting much sovereign rights to private parts by putting restriction on work scopes of the entrusted authority of government, and transferring the rights of assignment, contract, and control about the responsible supervisor to the concessionaire. With regard to project communication management the notification of changes on drawings and technical documents ought to be automated and the realtime database ought to be established with DMIS (Drawings & Documents Management Information System). From the cost management point of view, this thesis integrates the control of cost-change-approved items and disapproved items to one cost breakdown system, and then harmonizes the actual progress with EVMS in time management.

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An Exploratory Study of EVMS Environment Factors and their Impact on Cost Performance for Construction and Environmental Projects

  • Aramali, Vartenie;Sanboskani, Hala;G. Edward Jr., Gibson;Asmar, Mounir El
    • International conference on construction engineering and project management
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    • 2022.06a
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    • pp.170-178
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    • 2022
  • A high-performing Earned Value Management System (EVMS) can influence project success and help stakeholders meet project objectives. Although EVMS processes are well-supported by technical guidelines and standards, project managers often face challenges related to the project culture, team, resources, and business practices that make up the project environment within which an EVMS is being used. A comprehensive literature review revealed a lack of a data-driven and consistent assessment frameworks that can gauge the environment surrounding EVMS implementation. This paper will discuss the EVMS environment of construction and environmental projects, and examine its impact on cost performance. The authors used a multi-method approach to identify 27 environment factors that make up the EVMS environment, assessing them on 18 construction and environmental projects worth over $2 billion of total cost. Research methods employed include: (1) a literature review of more than 300 references; (2) a survey of 294 respondents; and (3) remote research charrettes with more than 60 participating expert practitioners. Culture (one of the identified environment categories) was found to be relatively more important in terms of its impact on the EVMS environment, followed by people, practices, and resources. These exploratory results show statistically significant differences in cost performance between completed projects with either a good or poor environment, for the sample projects. Key environment factors are outlined, and guidance is provided to practitioners around how to set up an effective EVMS environment in a construction or environmental project to inform decision-making and support achieving the project cost objectives successfully.

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A Study on the Space Size Analysis in the Multifamily Housing in aspect of management cost. -Focused on the Central Heating System using the diesel, kerosene- (공동주택 관리비용에 따른 적정공간규모 산정에 관한 연구 -경유, 등유를 사용하는 중앙집중난방방식을 중심으로 -)

  • 이강희;양재혁
    • Journal of the Korean housing association
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    • v.13 no.5
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    • pp.89-99
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    • 2002
  • The multifamily housing has various advantages in construction cost, land-use intensity. KRIHS(1997) recommended the proper scale of th multifamily housing as 800 households in constructability, 1,000 households in facility compactability, 500 households in social aspect. At the early planning stage of project, the size of the multiftmily housing has, until now, been maximizingly considered under the regulation on which has been emphasized at the building volume ratio, land area, etc., except for the expenditure during the maintenance stage. This paper aimed at providing the proper size of multifamily housing in aspect of area and household number with maintenance cost at the early stage of project. For these, it took 곧 average cost function which is made from the 3-rd quardratic form and analyzes the unit increasing rate of the average cost. It surveyed in nationwide focused on the central heating system using diesel and kerosene. The number of samples is 88 and items of management cost is 11. The results are as follows ; first, 3rd-order quadratic function is proper at explaining the cost variation, considering the multicollinearity and statistics. Second, the proper size of multifamily housing is recommended with 83,000 $m^2$ on management area, 820 or over the 2,630 household number in aspect of total management cost.

A Study on Development of Maintenance Cost Estimation System for BTL Project of Education Facilities Using Optimization Methodology (최적화기법을 활용한 교육시설물 BTL 사업 운영관리비용 비용예측 시스템 개발 기초연구)

  • Cho, Chang-Yeon;Son, Jae-Ho;Kim, Jea-On
    • Korean Journal of Construction Engineering and Management
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    • v.10 no.1
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    • pp.45-57
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    • 2009
  • BTL (Build-Transfer-Lease) Project for Education Facilities are contracted as a package which consists of several education facilities. The general maintenance period of BTL project for education facilities is 20 years. Thus, total cost variation largely depends on the accuracy of the maintenance cost forecasting in the early stage in the life cycle of the BTL Project. This research develops a cost forecasting system using complete linkage algorithm and branch & bound algorithm to help in finding optimal bundling combination. This system helps owner's decision-making to estimate the total project cost with various constraints changing. The result of this research suggests more reasonable and effective forecasting model for the maintenance facilities package in the BTL project.

Quantitative estimation system development for project similarity (주요 건물군의 유사도 정량화 측정 시스템)

  • Lee, Eun-Ji;Choi, Byoung-Il;Ko, Yong-Ho;Han, Seung-woo
    • Proceedings of the Korean Institute of Building Construction Conference
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    • 2014.05a
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    • pp.162-163
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    • 2014
  • Operation and maintenance stage consists the largest portion of project life cycle cost. Appropriate management and analysis of such stages have massive effect on the total project cost. The effective prediction of optimized repair period is one of main factors in ㅌ management. However, it has been analyzed that the prediction of appropriate repair period revealed limitations in reliability. Therefore, this study suggests a methodology of repair period prediction by dividing finished projects into similar groups with same properties to be compared with the target project using quantitative variables.

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Research on RAM-C-based Cost Estimation Methods for the Supply of Military Depot Maintenance PBL Project (군직 창정비 수리부속 보급 PBL 사업을 위한 RAM-C 기반 비용 예측 방안 연구)

  • Junho Park;Chie Hoon Song
    • Journal of the Korean Society of Industry Convergence
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    • v.26 no.5
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    • pp.855-866
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    • 2023
  • With the rapid advancement and sophistication of defense weapon systems, the government, military, and the defense industry have conducted various innovative attempts to improve the efficiency of post-logistics support(PLS). The Ministry of Defense has mandated RAM-C(Reliability, Availability, and Maintainability-Cost) analysis as a requirement according to revised Total Life Cycle System Management Code of Practice in May 2022. Especially, for the project budget forecast of new PBL(Performance Based Logistics) business contacts, RAM-C is recognized as an obligatory factor. However, relevant entities have not officially provided guidelines or manuals for RAM-C analysis, and each defense contractor conducts RAM-C analysis with different standards and methods to win PBL-related business contract. Hence, this study aims to contribute to the generalization of the analysis procedure by presenting a cost analysis case based on RAM-C for the supply of military depot maintenance PBL project. This study presents formulas and procedures to determine requirements of military depot maintenance PBL project for repair parts supply. Moreover, a sensitivity analysis was conducted to find the optimal cost/utilization ratio. During the process, a correlation was found between supply delay and total cost of ownership as well as between cost variability and utilization rate. The analysis results are expected to provide an important basis for the conceptualization of the cost analysis for the supply of military depot maintenance PBL project and are capable of proposing the optimal utilization rate in relation to cost.

Methods of Reviewing Constructability of Nuclear Power Plants Utilizing a Data-based Technology

  • Kim, Woo Joong;Lim, Byung Ki;Byon, SuJin
    • International conference on construction engineering and project management
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    • 2015.10a
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    • pp.147-149
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    • 2015
  • A nuclear power plant construction project normally involves a large construction work of which the total project cost is over 5 trillion Won, Such a large-scale construction project has the risks of schedule delay and quality degradation due to increase in project cost, because designs are changed due to design errors. The reasons for design changes during installation are 1) insufficient engineering capability of the owner, 2) information discontinuance due to the multiple package method, and 3) inefficient constructability review processes. Accordingly, this study proposes, through problem analysis, a method of developing a constructability review system that utilizes constructability review processes and a data-based technology (3D modeling) that are optimized for nuclear power plant construction projects. It also presents a method of establishing a system for reviewing constructability in which constructability review processes and a Database (3D model, Schedule, Design change Items) are linked each other.

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A Case Study on Sensitivity Analysis of KHP Total Ownership Cost (KHP 총소유비용의 민감도 분석 사례 연구)

  • Byun, Hyung-Kyun;Lee, Sang-Woo;Kwon, Moon-Won;Kim, Joo-Kyun;Choi, Young-Hwan
    • Journal of Applied Reliability
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    • v.11 no.2
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    • pp.187-212
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    • 2011
  • KHP project sets total ownership cost as the target cost by applying CAIV and administrates total ownership cost through compromise analysis, a periodical estimate and management of design alternatives for each development. Based on expected cost results, sensibility of total ownership cost is analyzed complying with the change of reliability, availability, maintainability and other related factors. By considering potential total ownership cost saving methods, first of all, this paper identifies total ownership cost changing effects for each related factor, secondly, suggests total ownership cost and maintenance and operating cost saving methods via finding components that affect total ownership cost and lastly, suggests total ownership cost saving directions that may be applied to other projects in the future.