• Proceedings of the KIEE Conference
• /
• 1987.11a
• /
• pp.133-136
• /
• 1987

This paper presents a new algorithm of optimal measurement system by using band matrix characteristic respectively for state estimation. A performance index of measurement system is established to reflect relation among measurement sets, probability of measurement failure and cost of individual meter installation. Selection ranking in the candidates of measurement sets is composed to guarantee the observability for any any single meter outage. Performance index sensitivity is introduced and recursive formula which based on the matrix inversion lemma used for selection. The proposed algorithm is composed of successive addition algorithm, successive elimination algorithm and combinatorial algorithm. The band matrix characteristic could save in memory requirements and calculate the performance index faster than earlier.

• Journal of Korean Society of Industrial and Systems Engineering
• /
• v.35 no.3
• /
• pp.129-135
• /
• 2012

Companies strive for quality improvement and use process data obtained through measurement process to monitor and control the process. Measurement data contain variation due to error of operator and instrument. The total variation is sum of product variation and measurement variation. Gage R&R is for repeatability and reproducibility of measurement system. Gage R&R study is usually conducted to analyze the measurement process. In performing the gage R&R study, several parameters such as the appropriate number of operators (o), sample size of parts (p), and replicate (r) are used. In this paper we propose how to determine the optimal combination of number of operators (o), sample size of parts (p), and replicates (r) considering measurement time and cost by statistical method.

• Proceedings of the Korean Institute of Building Construction Conference
• /
• 2013.05a
• /
• pp.160-161
• /
• 2013

Progress measurement is one of key tasks for cost and schedule management in construction management. However, there has been shortage of effort to implement for automated progress measurement. This paper proposes to use a face recognition (FR) technology for automated progress measurement and management in construction sites. The FR technology can acquire detailed progress data that includes the in and out information of labors by location. The expected effectiveness of the proposed system is to provide accurate labor information for progress measurement by utilizing automated data acquisition technology (DAT) with high-speed reading face. In addition, it could be applied to real-time safety and quality management by using the camera images.

• Wind and Structures
• /
• v.20 no.6
• /
• pp.739-749
• /
• 2015

Field measurement of wind characteristics is of great significance for the wind engineering community. High-frequency anemometers such as ultrasonic anemometers are widely used to obtain the high-frequency fluctuating wind speed time history. However, conventional instrumentation systems may suffer from low efficiency, non-real time transmission and higher maintenance cost, and thus are not very appropriate in the field measurement of strong winds in remote areas such as mountain valleys. In order to improve the field measurement performance in those remote areas, a wireless high-frequency anemometer instrumentation system for field measurement has been developed. In this paper, the architecture of the proposed instrumentation system, and measured data transmission and treatment will be presented firstly. Then a comparison among existing instrumentation systems and the proposed one is made. It shows that the newly-developed system has considerable advantages. Furthermore, the application of this system to the bridge site located in the mountain valley is discussed. Finally, typical samples of measured data from this area are presented. It can be expected that the proposed system has a great application potential in the wind field measurement for remote areas such as the mountainous or island or coastal area, and hazardous structures such as ultra-voltage transmission tower, due to its real-time transmission, low cost and no manual collection of data and convenience.

• Korean Journal of Construction Engineering and Management
• /
• v.11 no.1
• /
• pp.160-169
• /
• 2010

In domestic public works, there are several problems in the measurement of payments based on the bill of quantity, which doesn't match with the activity progress rate, heavy paper works and complicated procedures. It can be classified formal and simplified method. By using the simplified method, it can be solved many problems by summarizing the procedure, but is not generally used. This paper proposes a payment method by progress measurement for specified activity based on WBS(Work Breakdown Structure) verifying efficiency which reduced cost account and advanced work on payment compare to method of domestic public works using the data about construction of eco-river. This method will be an important contribution on being a base for cost-schedule integrated management which were verified and also improving efficiency on measuring payment.

• The Journal of Asian Finance, Economics and Business
• /
• v.9 no.8
• /
• pp.71-80
• /
• 2022

This study aims to investigate the effects of fair value valuation of biological assets and bearer plants measured at historical cost on the cost of third-party capital. The study contributes to the agricultural sector and the International Accounting Standard - IAS 41, which has been modified to remove the requirement to apply fair value for bearer plants, one of the primary biological assets with no active market. For this, 182 companies from 39 countries were studied in the years 2020 and 2021, with information taken from the Thomson Reuters Eikon platform. The methodology involves regression by the ordinary least squares method based on the model of Daly and Skaife (2016). The results show that the biological asset at fair value does not influence the cost of debt and that the measurement of bearer plants at historical cost has no effect on the cost of debt. Fair value did not change the perceived cost of debt of the analyzed companies in the studied period, contrary to Daly and Skaife (2016). Finally, the cost of third-party capital can be influenced by other aspects related to profit quality, which were not examined in this paper, such as profit management.

• International conference on construction engineering and project management
• /
• 2013.01a
• /
• pp.488-493
• /
• 2013

Accurate initial cost estimates are essential to effective management of construction projects where many decisions are made in the course of project management by referencing the estimates. In practice, the initial estimates are frequently derived from historical actual cost data, for which standard distribution-based techniques are widely applied in the construction industry to account for risk associated with the estimates. This approach assumes the same probability distribution of estimate errors for any selected estimates. This assumption, however, is not always satisfied. In order to account for the probabilistic nature of estimate errors, an alternative method for measuring the risk associated with a selected initial estimate is developed by applying the Bayesian probability approach. An application example include demonstrates how the method is implemented. A hypothesis test is conducted to reveal the robustness of the Bayesian probability model. The method is envisioned to effectively complement cost estimating methods that are currently in use by providing benefits as follows: (1) it effectively accounts for the probabilistic nature of errors in estimates; (2) it is easy to implement by using historical estimates and actual costs that are readily available in most construction companies; and (3) it minimizes subjective judgment by using quantitative data only.

• Korean Management Science Review
• /
• v.19 no.2
• /
• pp.191-204
• /
• 2002

As the portion of information systems (IS) budget to the total government budget becomes greater, the cost estimation of IS development and maintenance projects is recognized as one of the most important problems to be resolved for scientific and efficient management of IS budget. Since IS budget makes much effect on the delivery time, quality and productivity of IS projects, the exact cost estimation is also necessary for the successful accomplishment of IS projects. The primary concern in the cost estimation of IS projects is software cost estimation, which requires the measurement of the size of softwares. There are two methods for sizing software : line-of-code approach, function point model. In this paper, we propose a function-point-based model for estimating software cost. The proposed model is derived by collecting about fifty domestic IT projects in public sector and analyzing their relationship between cost drivers and development effort. Since the proposed model is developed by simplifying the function point model that can be used only when detailed user requirements are specified, it can be also applied at project planning and budgeting phase.

• Proceedings of the Korean Institute of Building Construction Conference
• /
• 2023.05a
• /
• pp.389-390
• /
• 2023

To improve the cost performance of construction sites, various systems and standards are constantly being developed and implemented. Although legal requirements for these system and standard improvements have been increasing, the cost efficiency performance of construction sites remains stagnant. We have digitized documents generated through construction supervision work at 39 building construction sites and proposed a model that can support decision-making in cost efficiency evaluation. This model selects key keywords that are considered to be highly related to cost efficiency by identifying the patterns and relationships of keywords through associated rule analysis and social network analysis using keywords derived from documents. In addition, it is expected to be used as a decision-making aid to determine the cost efficiency of a specific building construction site by establishing a logistic regression model using core keywords. As a systematic database of construction supervision documents and an integrated system of massive data generated by digital technology are established in the future, the accuracy and reliability of the cost efficiency evaluation model are expected to be reinforced.

• Journal of Korean Academy of Nursing Administration
• /
• v.8 no.2
• /
• pp.323-334
• /
• 2002

Purpose: This study was designed to analyse economical efficiency of home care service by comparing a cost-effectiveness ratio(CER) between hospitalization and home care service. Method: The analytic framework of this study was constructed in 5 stages; perspective of the analysis, measurement of costs, measurement of effects, analysis of CER, and sensitivity analysis. The SAS program was utilized for the general characteristics of the subjects, descriptive statistics, homogeneous test, normality test and difference test. Result: The results were as follows; 1) CER was 35,248,256 of ADL, 7,996,026 of nursing satisfaction, 6,144,946,000 of QALY of patients in the hospital and 11,168,863 of ADL, 2,322,239 of nursing satisfaction, 3,674,556,000 of QALY of patients in the home care center. ICER was 438,067,932 of ADL, -190,044,176 of nursing satisfaction, 8,615,336,000 of QALY. 2) In the sensitivity analysis of sex, age and discount rate, the CER of patients in the home care center was lower than the CER of patients in the hospital. Conclusion: With these findings, it affirmed that home care service had an economical efficiency compared with hospitalization in cerebrovascular disease patients. Therefore, these results will be used to develop governmental policy or expansion of the home care service.