• Proceedings of the Korean Institute Of Construction Engineering and Management
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• 2007.11a
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• pp.41-47
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• 2007

The selection of the reasonable project delivery system (PDS) is crucial for a successful performance of a project, which means to achieve project objectives. Furthermore, the project performance has been tightly related to the selection of PDS appropriate to pertinent project characteristics. In this context, the ministry of finance and economy of Korea launched two new project delivery systems called "Best Value Contract (Design-Bid-Build)" and "Bridging Contract (Design-Build)" in October of 2007 by revising enforcement ordinances of "Act on Contracts to Which the State is a Party". For efficient operation of the new project delivery systems, this paper suggested a PDS selection model which supports decision making of the reasonable PDS for a pertinent project by assessing characteristics of the public construction projects, both quantitatively and qualitatively. In addition, a PDS performance evaluation model was proposed in order to get feedback on the result of the PDS selection and the operation for the succeeding project. The standard models suggested in this paper might be used as a tool to support the decision making of the public organizations.

• 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.

• Korean Journal of Construction Engineering and Management
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• v.5 no.2 s.18
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• pp.144-152
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• 2004

Defining value as a measure of how well the project value objectives are met, Value Management Process (VMP) is considered to be any management effort or process that can proactively pursue one or more project objectives (i.e., security/safety, cost effectiveness, schedule optimization, and risk containment). The collection of 44 VMPs has been established based on a rigorous effort conducted by Construction Industry Institute (CII). Because varying circumstances on each project determine the level of suitability, it is crucial to identify which VMP should be implemented on a particular project. The current VMP selection process is primarily based on human intuition. The main objective of this paper is to provide a systematic method to facilitate the usage of VMPs on a particular project. This paper identified and quantified the selection principles (i.e., targeted value objectives, timing of initiation, project characteristics, and relative impact). The data collected from industry practitioners and VMP experts characterized each VMP in terms of the magnitude of benefit. An automated selection tool by Visual Basic Application (VBA) on MS Excel TM, was developed and proved its validity. As a pioneering study, this paper provides a comprehensive and structured knowledge on the subject of VMPs. From the industry's perspective, the automated selection tool, the premier of this study, contributes the facilitation of the VMP implementations in the construction industry thereby maximizing the potential benefits to a particular project.

• Journal of Technology Innovation
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• v.13 no.2
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• pp.223-237
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• 2005

This paper explains that tacit knowledge is a critical component for the success of government-led R&D project selection, where rapid and accurate decision making need to be made under lack of information circumstances. It also explores ways to fully exploit the tacit knowledge of experts participating in the Korean government's R&D project selection process. Some of these include: (1) strategic attention from the top officials, (2) forming self-organizing teams, (3) establishing a horizontal and risk-taking culture, (4) encouraging a sense of responsibility in creating and sharing tacit knowledge, and (5) providing a seamless monitoring system and training.

• The Journal of the Korea Contents Association
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• v.17 no.1
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• pp.69-79
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• 2017

The purpose of this study was to investigate the effect of project selection procedures such as information provision and transparency and project application conditions such as required documents and conditions on the satisfaction of agricultural subsidy support policy and re-application intention to support pig farmers in Jeju. The results of analysis are summarized as follows. First Need to improve the satisfaction of the business selection procedure rather than to relax the business application conditions in order to improve the satisfaction of the subsidy support business. Second, Need to improve the satisfaction of the business selection procedure rather than to relax the business application conditions in order to increase the subsidy re-application intention through the income increase effect by the subsidy support project. It is shown that the efforts to improve the satisfaction of the selection process can improve the satisfaction of the subsidy support project as well as re-application intention at the same time. Therefore, It is necessary to focus on improving the satisfaction of the project selection process, such as providing information and reflecting opinions on the subsidy project.

• The Journal of Society for e-Business Studies
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• v.18 no.4
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• pp.327-338
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• 2013

Effective and efficient selection of IT projects is crucial for company's competitiveness. The selection of IT projects usually involves consideration of budget constraints but existing IT project selection models often neglect budget constraints. This paper presents an IT project selection model which considers budget constraints. AHP(Analytic Hierarchy Process) and Knapsack problem model have been combined to develop the proposed model, AHP-K model, where AHP is used to estimate weights of selection criteria and, then, a knapsack problem model is utilized to optimize selection of IT project while meeting the budget constraints. In this paper, a case study is provided to validate the effectiveness of the proposed AHP-K model. It has been shown that the proposed AHP-K model is better than the AHP model in terms of total utility of projects and investment efficiency.

• Journal of Construction Engineering and Project Management
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• v.5 no.2
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• pp.35-43
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• 2015

Project Management Consultant (PMC) plays a vital role in the overall performance of any project. Selecting right PMC for right project is the most crucial challenge for any construction owner. Thus, PMC selection is one of the main decisions made by owners at the early phase of construction project. It is not easy for the project owner to select a competent PMC due to the fuzziness, imprecision, vagueness, incomplete and qualitative criteria of the decision. This paper presents a model for selecting PMC contractor using the Fuzzy Analytical Hierarchy Process (FAHP). And a fuzzy number based framework is proposed to be a viable method for PMC contractor selection. A case study to illustrate the application of the model is also presented in this paper.

• Journal of the Korea Institute of Information and Communication Engineering
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• v.15 no.3
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• pp.501-509
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• 2011

In this paper, we offer a new strategic Portfolio Model for national IT R&D project selection in Korea. A risk and return (R-R) Portfolio Model was developed using an objectively quantified index on the two axes of risk and return, in order to select a strategic project and allocate resources in compliance with a national IT R&D strategy. We strategize using the R-R Portfolio Model to solve the non-strategy and subjectivity problems of the existing national R&D project selection Model. We also use the quantified evaluation index of the IT technology road map (TRM) and the technology level Survey (TLS) for the subjectivity of project selection, and try to discover the weights using the analytic hierarchy process (AHP). In addition, we intend to maximize the chance for a successful national IT R&D project, by selecting a strategic Portfolio project and balancing the allocation of resources effectively and objectively.

• Journal of Korean Institute of Industrial Engineers
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• v.43 no.1
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• pp.49-61
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• 2017

This paper proposes an R&D project selection methodology for green technology centered on developing country-oriented technology commercialization. Eight selection criteria are derived from the R&BD logic model : technology needs of developing countries, effectiveness of green technology, technological potentials, domestic technological capability, commercialization feasibility, economic benefits, business feasibility, and spillover effects of developing countries. 21 qualitative and quantitative indicators are then defined for each criterion. The analytic hierarchy process is conducted to produce relative importance of evaluation indicators and to set final priority scores of R&D project candidates. The working of the proposed methodology is provided with the help of a case study example of Green Technology Center. The proposed methodology is expected to be effectively utilized for policy practices of R&D project selection in the field of green technology.

• Journal of the Korean Operations Research and Management Science Society
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• v.10 no.1
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• pp.79-83
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• 1985

This purpose of this study is to suggest a tentative model for project selection of information system. In constructing a mathematical model, quantification of decision criteria is tried to lessen difficulties of measuring benefits of information system project. Suggested model enables us to select projects in the context of portfolio and information system policy.