• 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.

• International conference on construction engineering and project management
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• 2022.06a
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• pp.823-830
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• 2022

The risk of project execution increases due to the enlargement and complexity of Engineering, Procurement, and Construction (EPC) plant projects. In the fourth industrial revolution era, there is an increasing need to utilize a large amount of data generated during project execution. The design is a key element for the success of the EPC plant project. Although the design cost is about 5% of the total EPC project cost, it is a critical process that affects the entire subsequent process, such as construction, installation, and operation & maintenance (O&M). This study aims to develop a system using machine-learning (ML) techniques to predict risks and support decision-making based on big data generated in an EPC project's design and construction stages. As a result, three main modules were developed: (M1) the design cost estimation module, (M2) the design error check module, and (M3) the change order forecasting module. M1 estimated design cost based on project data such as contract amount, construction period, total design cost, and man-hour (M/H). M2 and M3 are applications for predicting the severity of schedule delay and cost over-run due to design errors and change orders through unstructured text data extracted from engineering documents. A validation test was performed through a case study to verify the model applied to each module. It is expected to improve the risk response capability of EPC contractors in the design and construction stage through this study.

• Journal of the Korean Operations Research and Management Science Society
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• v.38 no.2
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• pp.25-42
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• 2013

We consider a project time-cost tradeoff problem with two milestones, where one of the jobs has an uncertain processing time. Unless each milestone is completed on time, some penalty cost may be imposed. However, the penalty costs can be avoided by compressing the processing times of some jobs, which requires additional resources or costs. The objective is to minimize the expected total costs subject to the constraint on the expected project completion time. We show that the problem can be solved in polynomial time if the precedence graph of a project is a chain.

• 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.

• Ecology and Resilient Infrastructure
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• v.9 no.3
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• pp.174-182
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• 2022

The existing cost calculation standard for the implementation project to manage total maximum daily loads calculates cost by considering the area scale and the population based on the basic cost. This method renders it difficult to calculate cost when the detailed characteristics of a business are considered. Therefore, in this study, we proposed a costing method that applied the standard fee calculation, reflecting the area scale, a number of human and livestock, wastewater discharge facilities, etc. And, through the review of related order cases, the suitability of factors affecting the implementation project is verified and the appropriateness of the cost calculation method is verified.

• 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.

• International conference on construction engineering and project management
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• 2009.05a
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• pp.1183-1188
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• 2009

Estimating project costs during the early stage of conceptual planning is very important when deciding whether to approve the project and allocate an appropriate budget. However, due to greater uncertainties involved in a project, it is challenging to estimate costs during this initial stage within a reasonable tolerance. This paper attempts to develop a cost-estimate model for public road projects under these circumstances and limitations. In the conceptual planning stage of a road project, there is only limited information for cost estimation, for example, such input data as total length of the route, origin and destination, number of lanes, general geographic characteristics of the route, and other basic attributes. This implies that the model should individuate suitable but restricted information without considering detailed features such as quantity of earthwork and a detailed route of a given condition. With these limited facts, this paper applies a case-based reasoning (CBR) method to solve a new problem by deriving similar past problems, which in turn is used to estimate the cost of a given project based on best-fitted previous cases. To develop a CBR cost-estimate model, the authors classified 8 representative variables, including project type, the number of lanes, total length, road design grades, etc. Then, we developed the CBR model, primarily by using 180 actual cases of public road projects, procured over the last decade. With the CBR model, it was found that the degree of error in estimation can be reasonably reduced, to below approximately 30% compared to the final costs estimated upon the completion of detailed design.

• 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.

• Archives of design research
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• v.12 no.3
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• pp.227-234
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• 1999

We paid attention to the fact that a project will always tend to increase in size even if its scope is narrowing. The complexities and multidisciplinary aspects of projects require that the many parts should be put together so that the prime objectives- performance, time, and cost- are met. These aspects lead to the use of teams to solve problems that used to be solved by individuals. Firstly, We surveyed the design companies and their clients on the design projects, and categorized the design task into 5 phases, that are marketing, planning, idea development, presentation, and follow-up. Among the phases, the presentation has the most difficult task, longest processing time, and highest cost, whereas idea development phase has relatively low cost, longer processing time, and more difficult task. Most of the companies used to be faced several bottlenecks on their design projects - time control, budget control, and resource control. Secondly, for improving the project managing process, we adopted that dividing and analyzing the sub critical paths may help in the effective managing.(Badiru, Adedeji B., 1995) Some critical paths require almost as much attention as the critical path since they have a high potential of becoming critical when changes occur in the network. Therefrom we suggest the Total task weight(Gt) as a management formula for the design project management.${Gt=\mathrm{T}\ast\leftthreetimes\ast1/100}$<\TEX> ( Gt = Total task weight, mathrm{T} = Task Weight, \leftthreetimes= Criticality ) Thirdly, In order to support to managing for the design projects, we set up an application system, which is graphically planning and implementing a complex undertaking. It is helpful to make the control of a project easy. The DPMS(Design Project Management System), which has two sub system. One is Project Screening System(PSS), and another Project Managing System(PMS). In PMS, we divided the design project into three modules; Project Planning, Project Implementation, and Project Evaluation. As a result, the DPMS will contribute to supply the control of a project easily and effectively. Also teams are used for making decisions and taking action with the DPMS. But we need to get further studies on the relationships between the whole project and its tasks.

• 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.