• International conference on construction engineering and project management
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• 2005.10a
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• pp.908-912
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• 2005

Construction Cost Indices are values for measuring fluctuations in direct construction costs which include material costs, labor costs, and equipment costs for construction operations. In Korea, Korea Institute of Construction Technology (KICT) has been assessing and announcing these indices since January, 2004. The main goals of this paper are to look over the calculation process for those indices and then present the trend in construction costs according to the types of facilities with the past construction cost index data. Also, this paper traces the origin of the occurrence of significant changes on those indices through the further analysis of the trend. In addition, this paper shows the practicality of the indices and the way how to put them to practical use. An alternative estimate method using the indices is suggested for compensating the changes of construction costs caused by price fluctuations.

• Proceedings of the Korean Institute of Building Construction Conference
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• 2012.11a
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• pp.111-112
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• 2012

Korean government is planning to supply a half million public and permanent rental houses from 2013 to 2018 for settlement of non-homeowners. It is requested an objective criterion to appropriate the budget for the rental houses construction project cost. In this study, construction cost indices, which reflect the inflation trend of construction resources, were explorated to suggest a effective methodology for the construction cost estimation of therental houses. We figured out the future construction cost indices using several scientific methods, and seven estimated indices values were shown. It is required an additional research to select the proper value among the analyzed indices.

• Journal of Computing Science and Engineering
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• v.1 no.2
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• pp.177-194
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• 2007

Index selection is one of the most important decisions to take in the physical design of relational data warehouses. Indices reduce significantly the cost of processing complex OLAP queries, but require storage cost and induce maintenance overhead. Two main types of indices are available: mono-attribute indices (e.g., B-tree, bitmap, hash, etc.) and multi-attribute indices (join indices, bitmap join indices). To optimize star join queries characterized by joins between a large fact table and multiple dimension tables and selections on dimension tables, bitmap join indices are well adapted. They require less storage cost due to their binary representation. However, selecting these indices is a difficult task due to the exponential number of candidate attributes to be indexed. Most of approaches for index selection follow two main steps: (1) pruning the search space (i.e., reducing the number of candidate attributes) and (2) selecting indices using the pruned search space. In this paper, we first propose a data mining driven approach to prune the search space of bitmap join index selection problem. As opposed to an existing our technique that only uses frequency of attributes in queries as a pruning metric, our technique uses not only frequencies, but also other parameters such as the size of dimension tables involved in the indexing process, size of each dimension tuple, and page size on disk. We then define a greedy algorithm to select bitmap join indices that minimize processing cost and verify storage constraint. Finally, in order to evaluate the efficiency of our approach, we compare it with some existing techniques.

• International Journal of Quality Innovation
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• v.7 no.3
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• pp.1-14
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• 2006

Economic value added (EVA) is introduced on two levels: as index for evaluation of corporation and as index for evaluation of business unit. In the latter case, application of one and the same cost of capital to all business units of a business corporation may be possible, but it is a fundamental policy for EVA to apply different cost of capital to business units with different risks. Estimate of cost of capital of business units is a problem to be resolved. The author, focusing on the question of the estimate of cost of capital of business units, has conducted a demonstrative study on risk structure of cost of capital estimates by using financial indices of Japanese manufacturers (37 automotive industries, 141 electrical and electronic machinery industries, 63 food processing industries, 98 chemical industries, 125 general machinery industries) for a period of 5 years from 1995 to 1999. The author presumes that $\beta$ is explained by a regression formula ${\beta}=B_0+{\Sigma}B_iY_i+{\alpha}$ ($Y_i$: financial indices) and selects 40 explanatory variables from financial statements as risk components. Using their financial indices, the author concludes through a series of statistical analyses that there is a good likelihood of estimating cost of capital for Japanese industries and is convinced that it will lead to more reliable and practical results by assigning averages and variances to 40 primary financial indices for a period of 3 to 5 years selected in this demonstrative study.

• Proceedings of the Computational Structural Engineering Institute Conference
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• 1993.10a
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• pp.216-223
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• 1993

The safety factors of current standard code are considered to be not appropriate compared to design and construction practices, even this safety factors are not determined from probabilistic study but merely from experiences and practices. This study pripose the optimum safety indices based on expected total cost minimization using only three parameters, which are the level of the failure cost to the initial cost by improvement in safety, and the order of the initial cost function.

• The Transactions of the Korean Institute of Electrical Engineers A
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• v.48 no.9
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• pp.1073-1080
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• 1999

Optimal routing of distribution networks can be attained by keeping the line power capacity limit to handle load requirements, acceptable voltage at customer loads, and the reliability indices such as SAIFI, SAIDI, CAIDI, and ASAI limits. This method is composed of optimal loss reduction and optimal reliability cost reduction. The former is solved relating to the conductor resistance of all alternative routes, and the latter is solved relating to the failure rate and duration of each alternative route. The routing considering optimal loss only and both optimal loss and optimal reliability cost are compared in this paper. The case studies with 10 and 24 bus distribution networks showed that reliability cost should be considered as well as loss reduction to achieve the optimal routing in the distribution networks.

• International conference on construction engineering and project management
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• 2017.10a
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• pp.313-320
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• 2017

Price fluctuation contract is imperative and of paramount essence in the construction industry as it provides adequate relief and cushioning for changes in the prices of input resources during construction. As a result, several methods have been devised to better help in arriving at fair recompense in the event of price chang es. However, stakeholders often appear not to be satisfied with the existing methods of fluctuation evaluation, ostensibly because of the challenges associated with them. The aim of this study was to identify the challenges to usage of building construction cost indices in Ghana. Data was gathered from contractors and quantity surveying firms. The study utilized survey questionnaire approach to elicit responses from the contractors and the consultants. Data gathered was analyzed scientifically, using the Relative Importance Index (RII) to rank the problems associated with the existing methods. The findings revealed the following among others; late release of data; inadequate recovery of costs; and work items of interest not included in the published indices as the main challenges of the existing methods. This study will provide useful lessons for policy makers and practitioners in decision making towards the usage and improvement of available indices.

• International conference on construction engineering and project management
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• 2015.10a
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• pp.174-178
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• 2015

This paper presents a new method for forecasting construction project cost and time at completion or at any intermediate time horizon of the project duration. The method is designed to overcome identified limitations of current applications of earned value method in forecasting project cost and time. The proposed method usesfuzzy set theory to model uncertainties associated with project performance and it integrates the earned value technique and the contractors' judgement. The fuzzy set theory is applied as an alternative approach to deterministic and probabilistic methods. Using fuzzy set theory allows contractors to: (1) perform risk analysis for different scenarios of project performance indices, and (2) perform different scenarios expressing vagueness and imprecision of forecasted project cost and time using a set of measures and indices. Unlike the current applications of Earned Value Method(EVM), The proposed method has a numberof interesting features: (1) integrating contractors' judgement in forecasting project performance; (2) enabling contractors to evaluate the risk associated with cost overrun in much simpler method comparing with that of simulation, and (3) accounting for uncertainties involved in the forecasting project cost.

• Journal of Korean Society of Coastal and Ocean Engineers
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• v.23 no.6
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• pp.422-428
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• 2011

Optimal reliability indices were found by optimizing life cycle cost(LCC) of pier type quay walls. Failure probability of pier and shore bridge were calculated by response surface method. Then, they were used to obtain recovery cost after damage. Costs for initial construction and maintenance were also considered in finding optimal reliability indices. Target reliability indices which may be used in reliability based design were suggested by numerical examples under seismic load and ship load.

• Proceedings of the KIEE Conference
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• 2000.11a
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• pp.70-72
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• 2000

The basic function of a modern electric power system is to provide electric power to its customers at the lowest possible cost with acceptable reliability levels. The two aspects of economics and reliability often conflict and present power system managers, planners and operators with a wide range of challenging problems. Utilities may also be willing to provide higher reliability of power supply at no increased customer cost. Decision-making is a difficult task. In this paper, we present a method to calculate the optimal values of reliability indices for sectionalizing distribution line.