• International conference on construction engineering and project management
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• 2009.05a
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• pp.354-360
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• 2009

The demands for large-scale construction projects such as Mega-projects are largely increasing due to the rapid growth of increasing populations as well as the need to replace existing buildings and infrastructure. Increasing costs of materials, supplies, and labors require the first cost estimates at the preliminary planning stage to be as accurate as possible. This paper presents the results obtained from the survey on evaluating nine critical success factors that influence the accurate first cost estimates for large-scale projects from practical experiences. It then examines the current cost structures of construction companies for large-scale projects, followed by the causes for cost and schedule overrun. Twenty completed surveys were collected and the Analytic Hierarchy Process was applied to analyze the data. The results indicate that technology issues, the contract type, and social and environmental impacts are the significant leading factors for accurate first cost estimates of large-scale construction projects.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• autumn
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• pp.456-459
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• 2002

It is lately issued studies on EVMS(Earned Value Management System) throughout construction industry, which is management system integrating cost and schedule effectively. So identifying importance and circumstance of introducing EVMS, CPI(Cost Performance Index) and SPI(Schedule Performance Index), which are critical components on schedule introducing EVMS, calculate and it intends to analyze the trend and problem of cost and time throughout project management, applying various statistical data analysis method.

• International conference on construction engineering and project management
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• 2015.10a
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• pp.691-692
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• 2015

Several scholars in South Korea have predicted that maintenance costs of social infrastructure will sharply increase from the mid-2020s, and cause budgetary deficits among facilities management agencies. Interest in infrastructure asset management (IAM) is rising as a solution to such problem. In this study, an information system for asset valuation that reflects the salvage value and deferred cost of social infrastructure based on WBS (work breakdown structure) was developed in consideration of IAM. To reuse the construction cost information such as the acquisition cost, the interconnection between CBS (cost breakdown structure) and WBS was considered. Furthermore, asset valuation information was developed with XML schema to facilitate the exchange and reuse of the information among project participants.

• Management Science and Financial Engineering
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• v.22 no.1
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• pp.5-12
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• 2016

We consider a time-cost tradeoff problem with multiple milestones under a chain precedence graph. In the problem, some penalty occurs unless a milestone is completed before its appointed date. This can be avoided through compressing the processing time of the jobs with additional costs. We describe the compression cost as the convex or the concave function. The objective is to minimize the sum of the total penalty cost and the total compression cost. It has been known that the problems with the concave and the convex cost functions for the compression are NP-hard and polynomially solvable, respectively. Thus, we consider the special cases such that the cost functions or maximal compression amounts of each job are identical. When the cost functions are convex, we show that the problem with the identical costs functions can be solved in strongly polynomial time. When the cost functions are concave, we show that the problem remains NP-hard even if the cost functions are identical, and develop the strongly polynomial approach for the case with the identical maximal compression amounts.

• Korean Journal of Construction Engineering and Management
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• v.12 no.3
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• pp.131-139
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• 2011

In this Study, the Cost of Public Facility Construction in the VE Cost Model, and the Progress of the Construction Site Management, and Cost due to the Lack of Cpatial Information in Dispute Cost Work Type Recognize the limits of Historical Information, and to Overcome the Perception of Cost and Space Systems Unit In the Process of Transition that Began Seeking Ways to Improve Through this Study, Different Parts of the Proposed Area of Construction Work Unit System, the Core of Calculating Hourly and Detailed Engineering Information and Cost Information Generated Extension to Configure the Construction Unit in Every Space, Every Work Unit System, All Materials That Make Up Work Unit System, Unit Labor Costs, And All of the Configuration Items Enables Precise And Multidimensional Understanding is That.

• Journal of Construction Engineering and Project Management
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• v.2 no.4
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• pp.42-45
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• 2012

In construction industry, the term 'procurement' is considered as a project based job where clients and contractors are always keen to observe performance indicators. These indicators represent financial and non-financial efficiency of project activities. Among these, the monitoring of financial indicators such as cost monitoring is an ongoing process and its importance cannot be undermined during the project life cycle. It can be monitored by using traditional approach of direct reporting of actual cost against budget. However, the comparison of budget versus actual spending does not indicate the worth of the work which is completed at any given time. This approach does not represent the true cost performance of the project. Because of these limitations, this paper discusses the applications of Earned Value Analysis (EVA) for cost monitoring of construction projects in Malaysia. Besides traditional approach, EVA is a three-dimensional approach that compares three cost indicators i.e. the budgeted value of work scheduled with the earned value of physical work completed and the actual cost of work completed. Therefore, cost monitoring by EVA is an objective measure of actual work performed. This paper uses a case study, an example application of EVA as a cost monitoring tool. This case study reaffirms the benefits of using EVA for project cash flow analysis and forecasting.

• International conference on construction engineering and project management
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• 2009.05a
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• pp.203-211
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• 2009

Korean public owners who order public multi-family housing construction projects have yet to gain access to a model for predicting construction cost. For this reason, their construction cost prediction is mainly dependent upon historic data and experience. In this paper, a cost-prediction model based on Case-Based Reasoning (CBR) in the design phase of public multi-family housing construction projects was developed. The developed model can determine the total construction cost by estimating the different Building, Civil, Mechanical, Electronic and Telecommunication, and Landscaping work costs. Model validation showed an accuracy of 97.56%, confirming the model's excellent viability. The developed model can thus be used to predict the construction cost to be shouldered by public owners before the design is completed. Moreover, any change orders during the design phase can be immediately applied to the model, and various construction costs by design alternative can be verified using this model. Therefore, it is expected that public owners can exercise effective design management by using the developed cost prediction model. The use of such an effective cost prediction model can enable the owners to accurately determine in advance the construction cost and prevent increase or decrease in cost arising from the design changes in the design phase, such as change order. The model can also prevent the untoward increase in the duration of the design phase as it can effectively control unnecessary change orders.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• autumn
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• pp.48-57
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• 2003

BAT Korea's Factory is the one of the major projects that clearly confirms and demonstrates that Construction Management (CM), provided by a Korean CM Company to the foreign clients, enables them to successfully complete projects; with savings in time and reduction in cost, which it is $15\%$ lower than the cost of the overseas construction. Also, throughout the thorough schedule management, it was possible to commence with manufacturing one month after the completion date. The Key Success Factors was generated by the excellent construction management skills, and more importantly by the confidence gained by the client in giving a CM company full authority for the construction management of the project. This study has focus on elements of construction management applied to this project throughout the concept of 'One Stop Shop', including cost managements, contract management and value engineering etc. We hope that this study will provide useful data to enable public clients to take advantages of construction management, in a similar way to. the private clients, who have already implemented CM actively.

• Journal of the Institute of Electronics Engineers of Korea TC
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• v.42 no.7 s.337
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• pp.1-6
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• 2005

Now that the reduction of the cell size in order to serve the increasing subscribers has raised the frequency of the location update, it has increased the cost of location management. In this paper, we show that the location management strategy based on the call arrival probability(CAP) can reduce the cost of the location management by analyzing that cost in this strategy which was proposed in [1] to reduce the cost of the location management in mobile communication. And we compare the location management cost by analyzing with that by simulating.

• Journal of the East Asian Society of Dietary Life
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• v.24 no.5
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• pp.680-690
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• 2014

This study investigated the performance of hygiene management according to the capacity and food cost of foodservice in kindergartens as a measure of kindergartens foodservice hygiene management. Dietitians from the education office visited 50 kindergartens under the control of Dongbu District Office of Education during January, 2011. Kindergartens were 11 public and 39 private institutions. Over half of kindergartens (n=27) provided foodservice to 50~99 children. About 21 kindergartens had a foodservice cost per student per day of 2,000 won. Regarding personal hygiene, 'whether to wear an accessory or have a manicure' showed the best performance. 'Whether to have their health examined once every 6 months or keep their health records in 2 years' was rarely performed. For food materials, 'whether to buy food appropriate for the quality control standard of food materials' showed the highest performance. The highest performances for storage management of food materials and handling of food was 'whether to store goods within butlery at intervals more than 30 cm from the ground' and 'whether to heat and cook food more than $74^{\circ}C$', respectively. The highest performance for distribution of food and management of facilities was 'the hygienic management of cooking tools and facilities' and 'the proper installation of air-conditioning, heating and ventilation facilities', respectively. The results of this study show that capacity and food cost had the strongest effects on performance of personal hygiene. Especially, smaller facility size could increase performance of foodservice management.