• Journal of KIBIM
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• v.11 no.1
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• pp.1-10
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• 2021

Blockchain is a secure technology that enables transactions between parties without risking data corruption. Besides cryptocurrencies, blockchain technology is being widely adopted in various forms by diverse industries. One promising application is construction contracts. Given that construction projects are executed under strict contractual requirements, blockchain technology-based contracts can ensure that contractual requirements are executed among parties to the contract. The objective of this study is to apply blockchain technology to smart construction contracts and determine their potential feasibility in construction management. In this study, a prototype smart construction contract is presented and its applicability is explored. We conclude that smart construction contracts can be effective as a contractual tool to enhance payment flows in the construction process.

• International conference on construction engineering and project management
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• 2005.10a
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• pp.699-704
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• 2005

Normally, monetary penalties for breach of agreement will be stipulated in the contract. The contractor parties, who fail to fulfill the agreement, are required to pay the other parties a certain amount or proportion of money as a fine. However, it is worth our study - whether or not the scope of monetary penalty implementation and bases for determination of a fine will cover the losses of social and administrative costs incurred by the interruption of the contract. This research is about the best timing for government to cancel the freeway repair work contracts. Under the goal of the maximum social welfare, the limitation of government spending for the social and administrative costs invoked by interruption of contracts will have to be considered to attain the best timing of contracts' suspension or deferment. According to the factors of social and administrative costs, the best time point is calculated to reduce the loss of the aforesaid costs, which can also be used as theoretical basis for the future road-widening construction at home.

• Korean Journal of Construction Engineering and Management
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• v.14 no.2
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• pp.35-44
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• 2013

Multi-trade Contract Method was introduced as a means of cutting down construction cost of public housing for low income people. Before a specific project delivery method is applied to large public construction project, it is necessary to discuss all the issues raised up from all the parties in construction industry and all the issues which can impact project performance. Thus the interviews were conducted with industrial professionals from diverse organizations and previous studies were investigated to figure out how this newly introduced project delivery method may impact owner's role and responsibility and project performance in terms of cost, schedule, quality and risk. Under the Multi-trade Contract Method, project owner's management tasks will be highly increased, so it should be checked out if the owner can do its role and responsibility. Public owner's organization also needs to be changed and proper project management procedure and system need to be established. In addition, for efficient application of Multi-trade Contract Method, public owner should consider diverse management approach to deliver the project, and how to select and maintain qualified specialty trades.

• 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.

• Asia-Pacific Journal of Business
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• v.11 no.1
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• pp.27-44
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• 2020

Purpose - This study examines the factors that influence the performance of contract farming by agricultural cooperatives from the agency theory and resource-based view of the firm. Design/methodology/approach - This study collected 1,090 data related to a sample of contract information between agricultural cooperatives and producers from national agricultural cooperatives federation. In order to examine the performance of contract farming, we use the multiple regression analysis. Findings - Incentives may reduce agency problems by increasing producers' motivation and discouraging their opportunistic behavior. Total asset size and education expenses function like resources that lessen the risks coming from environment uncertainty, and also facilitate the contract farming between producers and agricultural cooperatives. Research implications or Originality - By analyzing the factors that influence on the performance of contract farming between producers and agricultural cooperatives, we propose that incentives, and resources may improve the performance of contract farming between agricultural cooperatives and producers. Overall, the contract farming can co-create the economic efficiency and effectiveness while minimizing risks and uncertainty.

• Journal of Distribution Science
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• v.20 no.6
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• pp.125-135
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• 2022

Purpose: The revenue sharing contract has been used in various industries and it is expected to coordinate the individual companies' operations in a way to improve the whole supply chain performance. This study evaluates the performance of the revenue sharing contract to find out whether this contract achieves its original goal, the supply chain coordination. Research design, data, and methodology: The profit optimization models are developed to represent two stage supply chain system with a supplier and a buyer. By using the numerical examples of the proposed mathematical models, this study examines whether this supply chain contract coordinates the supply chain system. Results: The numerical examples show that the revenue sharing contract does not make the same supply chain profit as the centralized system does. With the proper combination of the wholesale price discount rate and revenue share ratio, both manufacturer and retailer can obtain increased profits from the revenue sharing contract. Conclusions: The outcomes of the numerical analysis imply that the revenue sharing certainly improves the supply chain performance but it does not fully coordinate the supply chain system. By controlling the wholesale price and revenue share ratio, every supply chain member can be beneficiaries of this supply chain contract.

• Korean Journal of Construction Engineering and Management
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• v.8 no.2
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• pp.155-163
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• 2007

Multiple parties-owners, engineering and construction contractors, and suppliers involve the delivery process of capital facility projects in the construction industry, and each party obtains or provides their workforce, material, equipment, or service tied into specific contracts. Considering that construction projects are based on the contracted relationship between the parties and that contract types are one of the significant factors determining project success. it is critical for project stakeholder to select appropriate contract types for successful deliveries of projects. With these considerations, this paper assesses impacts of different contract types on project cost, schedule, safety, change, or rework. Analyzing data from real construction projects, the differences in project performance between two contract types, Cost Reimbursable and Lump Sum are measured and statistically tested to investigate if the differences are significant. For this analysis, performance metrics developed by Benchmarking and Metrics program, the Construction Industry Institute are used.

• International conference on construction engineering and project management
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• 2015.10a
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• pp.704-705
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• 2015

Recent research has been ongoing for modular buildings in the country, and interest increases. However, in accordance with legal restrictions in the country with regard to Project Delivery system of Modular Building, the activation of modular buildings industry is obstructed. In Korea, in accordance with national contract law, the construction contract is apply to the project delivery system of modular buildings, and in accordance with Framework Act on the Construction Industry, The project delivery system of modular buildings has to be a separate order. The definition of separate order in contract as defined in the law is that the electric work and Communication work and digestion facility work has to be separate each contract in order to be ensured professionalism. In accordance with law, the project delivery system of modular buildings is that the contract for construction is concluded with the Owner and the Construction Contractor and the contract for goods is concluded with the construction Contractor and modular manufacturer. Due to these project delivery system, the domestic factory production rate when making a modular unit is significantly reduced compared to the rate of factory production abroad and the domestic factory production rate is estimated to 10-20%. Due to the factory production rate is also low, despite what can be done at the factory the workload in construction field increases. According to the workload in field increases, the effect of the schedule reduction can be reduced. It resolved to form a consortium with a modular manufacturer and construction companies or the contract is concluded with Owner, modular manufacturer and construction companies in each. In this paper, we propose a specific project delivery system for modular building to solve the problem of the low factory production rate and the problem of schedule reduction. Through this paper, due to the variety of project delivery system on modular buildings is expected to contribute to the activation of modular buildings.

• The Journal of the Korea Contents Association
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• v.12 no.5
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• pp.331-345
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• 2012

The main purpose of this study is to investigate the effects of operational practices of contract foodservice management company on relationship quality and recontract intention. To verify research model, 126 data were collected from client companies of E contract foodservice management company and analyzed using structural equation modeling and multiple regression. The results of this study can be summarized as follows. First, direct factors such as operational costs, menu management, and service management had significant influences on food service quality. On the other hand, indirect factors such as operational supportability, brand image, and capacity of sales management were not important to food service quality. Second, indirect operational practices had significant effects on trust. That is, when operational supportability was increased, brand image was enhanced, and capacity of sales management was strengthened, client company's trust on contract foodservice company was increased. Among them, brand image showed the highest effect. Also, direct practices such as operational costs, menu management, and sanitary/facilities management significantly influenced on trust. Third, food service quality significantly affected trust. Finally, only trust had significant effect on recontract intention but food service quality did not. This means that food service quality alone is not enough to earn recontract intention. Relationship marketing efforts to form trust should be made between contract foodservice company and client company.

• Journal of the military operations research society of Korea
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• v.35 no.3
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• pp.157-176
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• 2009

The main purpose of this study is to investigate the relationships among individual career management behavior, organizational career management help and organizational commitment based on psychological contract. The research model takes multi-dimensional perspective. The empirical study has been done using data collected from 360 military officers. The research findings are as follows: First, individual career management behavior is directly linked to the experience of organizational career management help. Second, both individual and organizational career management behaviors are connected to organizational commitment. Especially, career help from military organizations is closely related to affective commitment. Third, psychological contract fulfillment plays a key role in mediating the relationship between organizational career management help and affective commitment. These findings provide some support for the dimensional effects of individual career management behavior on organizational career management, psychological contract fulfillment and organizational commitment in military sector.