• International conference on construction engineering and project management
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• 2013.01a
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• pp.243-251
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• 2013

Cash management is a major concern for all contractors in the construction industry. It is arguable that cash is the most critical resource of all. A contractor needs to secure sufficient funds to navigate the project to the end, while keeping an eye on maximizing profits along the way. Past research attempted to address such topic via developing models to tackle the time-cost tradeoff problem, cash flow forecasting, and cash flow management. Yet, little was done to integrate the three aspects of cash management together. This paper, as such, presents a comprehensive model that integrates the time-cost tradeoff problem, cash flow management, and cash flow forecasting. First, the model determines the project optimal completion time by considering the different alternative construction methods available for executing project activities. Second, it investigates different funding alternatives and proposes a project-level cash management plan. Two funding alternatives are considered; they are borrowing and company own financing. The model was built as a combinatorial optimization model that utilizes ant colony search capabilities. The model also utilizes Microsoft Project software and spreadsheets to maintain an environment that incorporates activities, their durations, and other project data, in order to estimate project completion time and cost. Ant Colony Optimization algorithm was coded as a Macro program using VBA. Finally, an example project was used to test the developed model, where it acted reliably in maximizing the contractor's profit in the test project.

• International conference on construction engineering and project management
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• 2009.05a
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• pp.732-737
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• 2009

Due to various project delivery methods and the complexity of construction projects in the construction industry, developing the framework of construction management for critical, highly complex projects in the construction industry has become problematic. Currently, a set of construction manuals play a pivotal role in planning and managing construction projects as subcontractors try to complete their scope of work according to the instructions of a general contractor. It is challenging for general contractors to write a construction management procedure manual to cover various types of project delivery methods and construction projects. In construction, the construction procedure manuals describe specific actions to be taken through the project. In reality a few contactors own such manuals and their construction schedules include more construction operation activities. Thus, it is hard to estimate the workload and productivity of construction managers because the manual and the schedule do not present the amount of management efforts required to complete a project. This paper proposes a framework to present construction management tasks according to project delivery methods which can be applied to various construction projects. Actions for management tasks were mapped and were integrated with construction activities throughout the project life cycle. The framework can then be used to give specific instructions to project participants, collect management actions, and replicate management actions throughout the project life cycle. The framework can also be can used to visualize complete construction project to analyze and manage construction management activities in each phase of a project in order to enhance productivity and efficiency. The studies of existing construction manuals were carried out to identify construction managers' responsibilities. An artificial intelligence program, CLIPS (C-Language Integrated Production System) was used to search for appropriate actions for impending tasks from a set of predefined actions to be performed for a given situation. The framework would significantly help construction managers to understand interrelations among management tasks or actions within a project. Furthermore, the framework can be embedded into Building Information Modeling (BIM) or Facility Management Systems (FMS) so that designers and constructors would execute constructability review before construction begins.

• International conference on construction engineering and project management
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• 2009.05a
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• pp.1419-1425
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• 2009

Quantity Surveying Profession is a new breed with a history of only less than seven years in S. Korea' s Construction Industry. In this paper, the research aims to investigate the background of the market entrance of this profession in Korean Construction Industry, and the current market direction and future market demands. The research concludes that climate changes in Real Estate markets in relation to Project Financing practices caused by economic crisis of late 1997's, enabled the UK originated QSP sustainable in S. Korea. Moreover it was pointed out that the services of QSP current available in S. Korea's market attributed the different aspect compared to traditional quantity surveying services prevailed in UK. Finally it was apparent that the evolutional direction of the future quantity surveying market in S. Korea is most likely toward multidisciplinary skilled services profession processing not only broader architectural knowledges but cost consciousness, specialty in construction costs and construction contract aspects and transparency in ethical manner.

• International conference on construction engineering and project management
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• 2005.10a
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• pp.497-502
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• 2005

Needs of automation and computerization in the construction industry has been recognized but the implementation of e-business solutions with project management systems has not been fully explored. In order to cope with different management practices in home office and project sites, integration of two popular systems, Enterprise Resource Planning (ERP) and Project Management System (PMS) is essential. The objective of this study is to find ways to functionally and systematically integrate ERP and PMS. With the integration of ERP and PMS, a project will be managed much more efficiently and effectively. It is expected that this study will benefit system integrators and help them to understand construction management processes and integrate the solutions with minimized programming work.

• Journal of the Korean Society of Industry Convergence
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• v.25 no.6_3
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• pp.1303-1313
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• 2022

Modern cities need to revitalize the downtown area, which is declining due to population decline, economic recession, and deterioration of the residential environment, economically, socially, and physically by introducing and creating new functions. In addition, the hollowing out of the existing city center is getting worse due to the development of the outskirts of the city. Therefore, the discussion for the development of urban regeneration is the core task of modern cities. This study analyzed based on a basic understanding of urban regeneration projects, and through this, the problems of domestic urban regeneration projects were derived. In addition, the problem factors and major improvement plans of the urban regeneration project were analyzed from the expert's point of view using the AHP analysis technique. Based on this, the purpose is to present policy alternatives for the future development of urban regeneration projects. The problems derived to present the policy alternatives and improvement directions of the urban regeneration project were classified into problems related to goal achievement, problems related to the business itself, and problems related to project results. It was subdivided into sub-categories. This study analyzed the problem factors and major improvements from the expert's point of view by using the AHP analysis technique for the problems of the urban regeneration project. Based on the AHP analysis results and experts' opinions, five policy alternatives for the development of urban regeneration projects were presented.

• Architectural research
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• v.8 no.1
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• pp.57-68
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• 2006

Global competition and reduced project life cycle ultimately puts greater performance requirements on the capital project delivery systems used to maintain competitiveness. Despite continuing improvements in delivery cycle time, business owners of facilities continue to demand greater improvements in project delivery cycle time. Therefore, it is very important to investigate the various techniques and methods leading to reduction in project cycle time and also identify the applicability of identified techniques and methods. This paper introduces reduction techniques identified through literature review (i.e, Schedule Reduction Techniques (SRTs), Management Techniques (MTs), and Construction Institute Industry (CII) Best Practices (BPs). In order to collect applicability of these techniques under different project phases (Pre-project planning (PPP), Design (D), Material Management (MM), Construction (C), and Start-up (SU)), the Essence Applicability Matrices (EAM) is used.

• Journal of Construction Engineering and Project Management
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• v.6 no.2
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• pp.16-23
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• 2016

The use of inappropriate procurement methods to deliver construction projects has long been acknowledged as a major source of poor project performance and is particularly problematic for the Libyan Construction Industry. Poor procurement method selection has been recognised as a major contributory factor to frequent time and cost overruns. This paper offers a way of selecting specific procurement methods to maximize successful project performance. The methodology involves an intensive review of relevant literature, followed by a semi-structured questionnaire survey. The key findings of the study reveal that 11 out of its 12 common selection criteria exhibit a significant contribution to one or more project performance criteria (time, cost and quality). Project clients should therefore prioritise these criteria when selecting a design-bid-build method. Knowledge of the criteria that contribute positively to project performance will also enable clients to work out, prior to and during construction, the best measures and provisions for successful project outcomes.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.15 no.4
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• pp.121-133
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• 2020

This study aims to measure the result of R&D support projects on the beneficiary companies of the World Class 300 project, a representative domestic middle market enterprise incubation project. In particular, beneficiary companies were classified into industry groups(materials, components, equipment, modules, consumer goods) and the empirical study was conducted on how the result of R&D support project was differentiated by each industry group's characteristics. The analysis was performed on 272 companies selected as WC300 project during 2011 to 2017. The result of Panel regression Analysis confirmed that R&D support project had divergent influences on the performance (net profit) of companies depending on which industry group they belong. The samples of materials, components, equipment companies turned out not to have statistical significance. The samples of modules companies showed negative correlations, while those of consumer goods was observed to have positive correlations. This study demonstrates that it is essential to plan and implement policies suited to the characteristics of each industry groups to maximize the effect of R&D support projects henceforward.

• Korean Journal of Agricultural Science
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• v.43 no.2
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• pp.288-297
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• 2016

This study is to evaluate the 'Private antidesertification afforestation support project' in the Kubuqi Desert through a survey of local residents and interviews with relevant personnel. Based on this survey, gender, age, and occupational differences in perception of the project were analyzed. In addition, the project was evaluated based on the OECD/DAC criteria using survey results and in-depth interviews with the relevant personnel. The survey analysis results show that the participants answered most of the questions positively, claiming that they were receiving social, economic, and environmental benefits through the project. However, most of the participants answered negatively to questions regarding the understanding of the project and relevant information. Gender differences in perception of the project were not found, whereas, age and occupational differences in perception were found. Older age groups showed higher levels of perception. Participants in the agro-livestock industry and office workers showed higher levels of perception compared to middle/high school students, the unemployed and college students. Teenagers, in particular, showed the lowest level of perception of the project, and thus, promotional activities targeting teenagers should be conducted in the future. Results of this evaluation of the project based on the OECD/DAC's five criteria (relevance, effectiveness, efficiency, impact, and sustainability) showed that the project operated effectively for the most part.

• International conference on construction engineering and project management
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• 2009.05a
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• pp.841-846
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• 2009

Recently, the construction industry is getting more complex and sophisticated having the characteristics of a mega project. Mega project pursues a value that can't be gained with an approach of seeing a project as just a simple sum of different parts but a mutual combination. However, the current manuals can't fulfill the needs for supporting, therefore, need a tool to support the decision making and an IETM is expected to take this role. Despite the a lot of expected advantages of IETM, it is still difficult to apply because of the frequent changes of information of detailed process and its complexity. In this research, as part of developing an IETM, we aim to propose a system frame which is based on the analysis of processes of a project. It is basic part of IETM to give information to users and IETM consists of normal mode that offers general information about the urban regeneration project and user-specified mode that gives classified and reorganized information to user. For supporting these functions, IETM should be stored in a form that can classify the information about urban regeneration project and be tagged with meaningful tags. Moreover IETM developers have to consider the interoperability of IETM because it ultimately should be coordinated with overall Project Management System like an iPMIS. We used XML for solution of interoperability because it stores information as just text-file that doesn't need a special form.