• Land and Housing Review
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• v.11 no.4
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• pp.115-124
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• 2020

Incentive/Disincentive (I/D) contract is designed for minimizing any disruption of traffic flow in road construction projects. I/D contracting projects have been evaluated with regard to time and cost performance in various states, more than 35 states. However, construction project managers and planners have little understanding of the project factors that affect the project time and cost performance of highway construction projects using I/D regulations. Therefore, the purpose of this research is to find factors that affect I/D project success or failure to improve the decision-making process for the implementation of I/D projects. In order to achieve the objectives of this research, the researchers collected I/D road construction project data from FDOT and performed evaluation for each collected project. Then, project data analysis to identify key factors that affect I/D project performance was performed. In conclusion, five significant factors for project time performance and six significant factors for project cost perfornace were identified and summarized.

• Journal of Information Technology Services
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• v.14 no.2
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• pp.51-68
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• 2015

As interests in the quality of data in database systems are growing recently, analysis and improvement of data quality in databases have been an important issue. However, there has yet to be a clear agreement on how to reasonably calculate the total cost of such project. In this paper, based on real project data and budget statistics, we develop a model to estimate the cost for quality analysis and improvement project of a database. We first conduct statistical analysis to build our basic model. Throughout this analysis, we have identified factors that determine the scale of works required to conduct the project and eventually determine the cost. In addition, we have identified factors that determine the complexity of the project. These factors can adjusts the cost determined by the scale of works. Our model is verified and improved by surveys on experts. We apply our model to newly conducted projects and observe that our model estimates the cost of each project reasonably well.

• International conference on construction engineering and project management
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• 2009.05a
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• pp.676-684
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• 2009

Decision making at the early stages of a construction project has a significant impact on the project, and various scenarios created based on the owner's requirements should be considered for the decision making. At the early stages of a construction project, the information regarding the project is usually limited and uncertain. As such, it is difficult to plan and manage the project (especially cost planning). Thus, in this study, a cost model that could be varied according to the owner's requirements was developed. The cost model that was developed in this study is based on the case-based reasoning (CBR) methodology. The model suggests cost estimation with the most similar historical case as a basis for the estimation. In this study, the optimization process was also conducted, using genetic algorithms that reflect the changes in the number of project characteristics and in the database in the model according to the owner's decision making. Two optimization parameters were established: (1) the minimum criteria for scoring attribute similarity (MCAS); and (2) the range of attribute weights (RAW). The cost model proposed in this study can help building owners and managers estimate the project budget at the business planning stage.

• International conference on construction engineering and project management
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• 2015.10a
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• pp.70-71
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• 2015

Cost management always being the matters for project manager as well as other entities involved the construction projects. Vietnam is emerging country, many construction works were carried out and lot of construction projects will be developed in the near future with a huge investment capital come from outside and inside Vietnam. In recent years, international project management firms enter the Vietnam construction market, some issues emerged need to be solved. In which cost and schedule of the construction project was put in a thoroughly consider of not only project management team but also stakeholders. The research attempts to identify and assess the relationship of factors affecting the construction cost in construction phase in Ho Chi Minh City, Vietnam. Five main factor groups Owners/clients; Consultants; Contractors; Resource and Other were identified to propose the solution for cost management.

• Proceedings of the KSR Conference
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• 2002.10a
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• pp.376-381
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• 2002

In this study, we have analyzed the cost of korea high-speed rail project. The predicted cost in planning phase and adjustment data to 5th year are collected. Then, predicted cost is compared with adjustment in year/item/system base. We make a project history table for criteria to review project history and research ＆ development activity. We have developed CBS(cost breakdown structure) and allocated adjustment data to them. It is shown that cost prediction related to research St development activity in planning phase is relatively correct.

• Journal of the Korea Institute of Building Construction
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• v.7 no.1 s.23
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• pp.63-70
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• 2007

The aims of this study are to draw the project risk factors by grasping the relation especially between the construction preparation cost calculation and the project risk factors in the project's bidding stage, and to draw the cost estimate based on the risk when the orderer or the constructer performs the project and the main factors in calculating the most suitable construction cost by clarifying the understanding degree of the influence between the risk factors and the construction cost. In addition, this study can give a help to the proper decision -making through the prediction of the construction preparation cost, and this study is expected to give the basic data in developing the assessment tool for the most suitable construction cost of the project.

• International conference on construction engineering and project management
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• 2022.06a
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• pp.50-56
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• 2022

Change Orders generally impact cost and schedule performance of highway projects. However, highway projects that do not have any change orders also face cost growth and schedule delays. This study seeks to determine the cost and schedule performance of Texas DOT projects by collecting project data for 120 highway projects completed between 2016 to 2020. For the study, we selected project data that has zero or negative change orders which were then grouped and analyzed based on their Project Types i.e., maintenance works; structural works; restoration and rehabilitation works; and safety works. The study found that performance of Maintenance and Safety type projects had less cost and schedule growth among the data analyzed. Statistical tests also found that even though the projects have no change orders, Rehabilitation and Restoration type projects experienced significant schedule growth compared to others. However, the data did not show any significant cost and schedule growth for the projects when statistical tests were performed on overall data. The study concluded that highway projects are experiencing schedule growth even though the projects had no change orders. Results from the study can help planners, engineers, and administrators to gain better insight on how different types of highway projects are performing in terms of cost and schedule and eventually derive appropriate solutions to minimize cost and schedule growth in such projects.

• Management & Information Systems Review
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• v.5
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• pp.287-300
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• 2000

Project Managers want to reduce the cost and the completion time of the project simultaneously. But the project completion time tends to increase as the project cost is reduced, and the project cost has a tendency to increase as the project completion time is reduced. In this paper, the resource constrained project scheduling problem with multiple crashable modes is considered. An exact solution method for finding the efficient solution set and the computational results are introduced.

• Proceedings of the Korean Institute of Building Construction Conference
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• 2023.05a
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• pp.329-330
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• 2023

The performance of the construction project is to be evaluated within 60 days of completion, according to relevant laws. It evaluates cost, construction period, design change, re-construction, safety, etc. for each project stage. And the project owners are inputting the evaluation results of the construction work into the construction project information system(CALS). The post-evaluation result information entered in this way can be referred to in the basic design of the construction project by referring to the related contents if there is a similar construction in the future. And It can also be used to predict and respond to the required period and cost by analyzing the accumulated data. In this study, in order to provide reference data that can be used in similar projects in the future, the latest analysis methods are reviewed and the possibility of future application is considered. Accordingly, this study intends to focus on the construction cost part among the indicators such as construction cost, construction period, design change, and re-construction that are currently being dealt with in post evaluation.

• 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.