• 국제학술발표논문집
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• The 6th International Conference on Construction Engineering and Project Management
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• pp.72-76
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• 2015

Capital project benchmarking requires an effective cost normalization process to compare cost performance of projects accomplished in different time and location. Existing cost normalization approaches have been established based on the assumption that all required information for cost normalization is fully identified once a project is completed. Cost normalization, however, is sometimes required to evaluate phase-level outcomes of an ongoing project where the required information is not fully available. This paper aims to provide a cost normalization procedure for phase-based performance assessment. The procedure consists of three normalization steps: currency conversion, location adjustment, and time adjustment considering various scenarios where the required information is not fully identified. This paper also presents how the cost normalization procedure has been applied to the 10-10 Performance Assessment Program, which is a phase-based performance assessment system developed by the Construction Industry Institute (CII). Both researchers and industrial professionals can apply the cost normalization procedure to studies and practices regarding to cost estimation, feasibility analysis, and performance assessment.

• 국제학술발표논문집
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• The 4th International Conference on Construction Engineering and Project Management Organized by the University of New South Wales
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• pp.330-334
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• 2011

Build-operate-transfer (BOT) projects are privatized infrastructure undertakings that face long-term investment risks and uncertainties. To ensure these projects can be completed on time and operated according to performance specifications, governments usually require BOT concessionaires to furnish performance bonds as a security. However, in order to attract investment, governments often provide abandonment rights for concessionaires to deal with investment risks and uncertainties. In the context of real options, these abandonment rights will increase project value, but the furnish of performance bonds will reduce this value. Currently in the BOT context, there is no real option model that can handle explicitly the impact of performance bonds on project value. In this paper, a real option valuation model is derived to deal with this important issue. The Taiwan high-speed rail project is used as a case study to show the applicability of the proposed model.

• 한국경영과학회지
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• 제31권4호
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• pp.157-179
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• 2006

Recently, as business becomes more dependent on information technology for their operations, SI project managers are under increasing pressure to implement SI projects on time and within budget, and to satisfy customer requirements. For the success of SI projects and customer satisfaction, SI project managers should master the critical shills and knowledge requirements and consider the proper leadership style to lead the team members and to manage SI projects. The leadership style includes four categories, such as directive leadership, supportive leadership, participative leadership, and achievement-oriented leadership. This study has examined the project managers' competency and suggests the three competency factors, which are technical, human, and conceptual shills, for the success of SI projects and customer satisfaction. The study suggests that SI project managers should master the three critical skills and knowledge requirements, and consider the proper leadership style for the successful implementation of SI projects. Also SI project managers should consider contingency factors such as project size and duration and outcome variables such as protect performance and customer satisfaction so as to enhance the leadership effectiveness.

• 농촌계획
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• 제19권2호
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• pp.139-148
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• 2013

This study verified for the necessity for the comprehensive analysis of outcomes resulting from the local industry promotion project in many respects. To analyze the operation planning for performance management of local industry promotion project, this study redesigns the so-called PDCA(Plan${\rightarrow}$Do${\rightarrow}$Check${\rightarrow}$Act) model which is also known as Deming Cycle and verifies some hypotheses. To accomplish study purposes, 169 response samples from 85 project groups which drive the local industry promotion project were verified using SPSS 12.0. The findings are as follows: First, there was a positive relationship between the planing phase and the implementation phase. Second, there was also a positive relationship between the implementation phase and completion of the project phase. Third, there was a positive relationship between the planing phase and completion of the project phase. Finally, the implementation phase was a partial mediator on the relationship between the planing phase and completion of the project phase. Based on these findings, the implications and the limitations of the research findings were discussed, and recommendations for future research were provided.

• 무역상무연구
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• 제50권
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• pp.215-250
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• 2011

Korean won overseas construction projects worth 71.6 billion US Dollars in 2010, which exceeded that of 2009 by 45.6%. An overseas construction project is a transaction of large scale, long term project, many parties participating, deferred payment, and of high-technology. It contributes to foreign currency earning, and also leads the nation's export restructuring work towards high value-added one. There are various kinds of risks towards the relevant parties respectively, which are key elements in successfully performing the overseas construction project. There are completion risk, financing risk, operating risk, revenue risk etc, in an employer's place. A contractor may be confronted with payment risk, issuance risk of performance bond, financing risk, performance risk of sub-contractors, and exchange rate risk. In lenders place there are repayment risk, completion risk, and political risk in the host country. In order to mitigate risks, the parties shall take relevant measures or require relevant securities. A contractor needs to evaluate the credibility of an employer in respect of payment risk, and can also request export insurance cover by the Korea Trade Insurance Corporation(the former 'Korea Export Insurance Corporation"). An employer can require a contractor to provide performance bond in respect of completion risk, and employ a well-known first class bank as a mandated arranger to arrange financing with regard to completion risk. Lenders needs to evaluate the credibility of an employer and accomplish feasibility study of the project. Lenders can request insurance cover from export credit agency. Once the parties assess the respective risks and obtain relevant securities, the project will be successfully completed. The success of the project will be sure to bring the parties involved enormous profits and another opportunity to participate in overseas construction project afterwards.

• Journal of Construction Engineering and Project Management
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• 제9권2호
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• pp.1-24
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• 2019

Poor project performance has been noted as the bane in the construction industry globally. This paper sought to investigate, by way of literature, the performance patterns of construction projects in Kenya since independence (1963-2018). This was informed by reports of undesirable project performance in the industry. This descriptive study used available studies previously done in this subject area. In sum, literature is replete with evidence on a myriad of challenges facing the execution of projects. The study established that generally, the project performance is poor and has assumed a chronic trajectory spanning over five decades. On average, the findings reveal that 35-60% of projects initiated in Kenya face cost overruns while time overrun is most severe with 35-73% projects overrunning their schedule. In addition, the findings problematize the issue of plurality of performance measurement regimes in the construction industry. Here, it was observed that no singular construct exists to objectively measure the various facets that constitute the 'health' of a project. This paper has contributed to the body of knowledge by examining the performance patterns in Kenya for over fifty years while at the same time identifying the bottlenecks inherent in projects execution. Importantly, the conceptual performance efficiency framework derived in the current study presents a paradigm shift in the monitoring and evaluation of projects. To this end, an in-depth analysis is recommended on the interaction of efficiency enablers in the buildup of performance efficiency index (PEI). Similarly, a further inquiry is recommended on the integration and impact of the proposed framework in the management of projects.

• Journal of Information Technology Applications and Management
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• 제19권1호
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• pp.61-83
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• 2012

PMO has gained much interest as an approach to lowering project failure rates. PMO implementation is, however, not an easy endeavor. Many studies have reported that a significant number of PMOs were seen as contributing little to project performance. Local organizations are more likely to be exposed to the failure risk as they tend to heavily depend upon outsourced PMO services. We believe that it is essential for ordering organizations to collaborate with the PMO service firm to come up with a proper PMO governance prior to its implementation. This study is to empirically investigate the effects of PMO governance upon PMO performance and the effects of ordering organization's project readiness upon PMO governance. The study result shows that a proper organizational structure and a properly defined role and responsibility may enhance the PMO performance. And, a correct awareness about PMO and a project management capability were found to be contributing to the appropriateness of PMO governance.

• Asia pacific journal of information systems
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• 제26권4호
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• pp.509-525
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• 2016

According to the dynamic changes in the business environment, the structural transformation of firms has had an observable trend. An increasingly large number of firms have been transforming into either project-based organizations or project expert groups. This study aims to investigate the antecedents required for the optimal level of empowerment with consideration of the project-based team environmental nature and job characteristic. Three factors are applied to measure the significant effects on psychological empowerment as the result variables. To determine the antecedents and consequent factors of psychological empowerment, employees' interviews and precedent studies are used. For the empirical study, four determinants of empowerment variables are modeled into a second-order reflective construct. This study finds that psychological empowerment significantly affects performance. Therefore, this study can serve as a guideline for development and operating methods for project success.

• 국제학술발표논문집
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• The 1th International Conference on Construction Engineering and Project Management
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• pp.377-382
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• 2005

The tools, methods and measures used for project control reflect underlying theories of management. Management theory has been neglected in the construction industry, which has rather focused on tools and neglected theory. This paper contributes to the theory of project management by introducing and developing two fundamental and competing conceptualizations of management: MBM (Managing-by-Means) and MBR (Managing-by-results). Current project control and performance measurement practice is based on MBR. However, project control based on MBR may not be appropriate for managing dynamic projects. The paper present the Last Planner^TM System (LPS) and Process Variance Control (PVC) as examples of methods reflecting the MBM view. It is argued first that the MBM view is appropriate for managing uncertain, complex and quick projects. The paper also explores how MBR tools and techniques may be appropriately used within an MBM framework.

• 한국건설관리학회논문집
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• 제14권1호
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• pp.82-90
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• 2013

건설 산업의 속성상 프로젝트의 성과를 정량적으로 분석하기 위해서는 다양한 영향인자에 대한 고려가 필수적이다. 프로젝트의 특성과 성과와의 관계를 파악하고, 프로젝트에 가장 적합한 관리기법을 적용시켜서 프로젝트의 성과를 향상시키기 위해서는 성과관련 정보를 축적시켜 관리하기 위한 시스템적인 접근이 요구되고 있다. 그럼에도 불구하고 많은 성과관련 시스템들은 성과결과의 분석에만 치중하여 프로젝트의 특성이나 관리기법 등 성과에 영향을 미치는 인자에 대한 심도 있는 분석방법과 접근방식에 대한 고려 부족으로 인해 성과시스템의 활발한 적용을 기대할수 없었다. 이에 본 연구는 건설 프로젝트의 특성을 고려하여 성과를 사전에 예측하고 성과체계를 정량적으로 모델링할수 있는 성과정보시스템을 개발하는 데 목적을 두었다. 이를 위해 실제 사례프로젝트의 성과관련 정보를 바탕으로 성과결과와 프로젝트 특성, 관리기법 간의 상관관계를 분석함으로써 해당 프로젝트에 가장 적합한 관리기법을 도출할수 있는 방안을 수립하였다. 그 결과, 성과영역별로 다양한 관점에서 프로젝트의 성과비교가 가능할 수 있는 정량화 방안을 정립하였고, 상관관계 분석을 통해 성과예측이 가능한 모델을 제안하였으며, 기존 데이터 분석을 통해 최적 관리기법을 선정할수 있는 시스템을 개발하였다. 웹기반 프로그램으로 구축된 시스템은 향후 데이터베이스의 지속한 관리와 보완을 통해서 성과정보의 양을 확대시킨다면 통계적으로 유의미한 결과를 바탕으로 신뢰성 있는 프로젝트 성과 관리를 도모할수 있을 것으로 사료된다.