• International conference on construction engineering and project management
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• 2007.03a
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• pp.625-634
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• 2007

Energy-saving is one of important issues in multi-family housing projects in South Korea. According to the study by Yu et al. (2002), the balcony conversion causes energy loss approximately one and a half times. Therefore, it is important to select the economical glass type in the balcony window. In order to identify the most economical glass type of balcony conversion in multi-family housing projects, the most typical type of the multifamily housing projects in the metropolitan area was selected as a candidate project. The selected candidate project has been simulated using ENERGY-10 program to estimate the heat load by the different five types of glasses as well as their life cycle cost analysis (LCCA) using present worth method. Finally, sensitivity analysis has been conducted to determine the most economical glass types under a different discount rate (interest rate) and service life of building.

• International conference on construction engineering and project management
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• 2009.05a
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• pp.800-807
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• 2009

The limited public funds available for infrastructure projects have led governments to consider private entities' participation in long-term contracts for finance, construction, and operation of these projects to share risks and rewards between the public and the private. Because these projects have complicated risk evolutions, diverse contractual forms for each project member to hedge risks involved in a project are necessary. In light of this, Build-Operate-Transfer(BOT) model is considered as effective to accomplish Public Private Partnerships(PPPs) with a characteristic of an ownership-reversion. In BOT projects, the government has used such an incentive system as minimum revenue guarantee(MRG) agreement to attract the private's participation. Although this agreement turns out critical in success of BOT project, there still exist problematic issues in a financial feasibility analysis since the traditional capital budgeting theory, Net Present Value(NPV) analysis, has failed to evaluate the contingent characteristic of MRG agreement. The purpose of this research is to develop real option model based on option pricing theory so as to provide a theoretical framework in valuing MRG agreement in BOT projects. To understand the applicability of the model, the model is applied to the example of the BOT toll road project and the results are compared with that by NPV analysis. Finally, we found that the impact of the MRG agreement is significant on the project value. Hence, the real option model can help the government establish better BOT policies and the developer make appropriate bidding strategies.

• International conference on construction engineering and project management
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• 2009.05a
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• pp.1414-1418
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• 2009

International construction projects typically manifest difficult, complex, and varied types of risk exposures; because of this, there is a need for accurate evaluation of risk-integrated performances during the timeframe of project execution. Given the financial crisis currently affecting the world economy recession, risk management has become a more crucial part for the success of international project management. However, the majority of risk management approaches, particularly for overseas projects, are focused primarily on simple forms of checklists, formalization of risk variables affecting project performance for a specific phase, or more complicated computational methods that restricting practical utilization in real-world projects; moreover, these methods lack the conceptual basis to broadly visualize the level of risk over all phases of a project. This study suggests an efficient, yet simple risk-integrated total index to successfully assess the risk levels of overseas construction projects. To this end, this paper first investigates the life cycles and key processes of decision-making for a given project and then derives formulas to represent the total risk index (TRI) along the key decision-making processes. In addition, the study examines the relationships between TRI and performance levels based on the analysis of 126 real-world project samples. Validations using the proposed TRI showed a high correlation to project performance, signifying the usefulness of the proposed approach for construction firms when investigating the level of risks and key areas for management focus.

• International conference on construction engineering and project management
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• 2009.05a
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• pp.856-863
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• 2009

The problem of urban decay in Hong Kong has drawn much attention of both practitioners and academics. Poorly managed buildings not just give a negative image to the Pearl of the Orient in the region, but also pose potential risk hazards to the health and safety of the general public. While it is necessary to devise a comprehensive plan on redevelopment and urban planning, preserving the existing buildings to maintain their conditions for habitation can be a short-term option to safeguard quality standard. With the increasing number of ageing buildings in Hong Kong, a lot of research efforts have been devoted to managing repair and maintenance projects properly (for example those initiated and funded by the Construction Industry Institute, Hong Kong; and the current study financially supported by The Hong Kong Polytechnic University). Given the short duration and more diversified nature of work, building repair and maintenance works are found to be more difficult to monitor and regulate when compared with new works. This paper aims to provide a comprehensive analysis on the problems of running building maintenance projects. An extensive review of contemporary literature was firstly conducted, which forms a solid basis for developing an empirical study on the problems and difficulties of running building maintenance projects from the viewpoints of industrial practitioners with a view to formulating effective strategies for managing maintenance projects successfully.

• International conference on construction engineering and project management
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• 2009.05a
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• pp.1209-1215
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• 2009

Recently, Construction Projects are being much bigger and more complex. So the importance of Construction Planning and Management is increasing and increasing because of the Construction Projects is involved in a variety of construction-related subjects. Competitive of the Construction Industry decided Cost, Construction Duration and Productivity. But they were just focused on Cost Saving instead of Construction Duration and Productivity. However, they have to finish construction projects using minimum cost and duration with quality and function of required level for successful Construction projects. Thus, current high exchange rate and high period, it is clear to decrease construction cost and to do economic construction in huge Construction Projects and it means more advanced Construction Schedule Management needs for economic construction. But Construction Scheduling Planning, basic of Construction Schedule Management, adjusted contract period without Pre-Planning, just depending on experience and ability of Construction Engineer. Because of that, this study suggests new Duration Estimate Method using Stochastic Model in BIM Environment for advanced Construction Schedule Management. Existing Duration Estimate Methods are just modified wrong points of them or analyzed effective factors of construction schedule. However, New Duration Estimate Method is just consists of Stochastic Model and BIM Environment without existing Duration Estimate Methods. So, new method has creativity and specialty. After this research, it would be a great model in construction industry field.

• International conference on construction engineering and project management
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• 2022.06a
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• pp.984-991
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• 2022

The use of the sustainability rating systems in infrastructure construction projects is not as common in comparison to building construction projects. While the sustainability rating systems share some commonalities, they differ from one another in certain ways. Thus, project teams cannot make reliable decisions when choosing the best sustainability rating tools for a given infrastructure projects. The Department of Transportation (DOT) in several states are developing its own rating system to address the infrastructure sustainability, but not in the case of California. Therefore, this paper presents the statistical results on the important sustainability determinants that affects the success of meeting sustainability goals of infrastructure construction projects. The authors conducted an online survey using the structured questionnaires. The categories considered include site, water/wastewater, energy, materials/resources, environmental, and others. The statistical analyses such as Kruskal-Wallis and ANOVA are conducted using a total of 25 valid and complete data out of 59 surveys collected. The results demonstrate several factors under each of six major sustainable categories have received higher ranks than other factors. The results also show that a statistically significant difference can be found from water, energy, and environmental categories against the other category based on the pairwise comparisons.

• International conference on construction engineering and project management
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• 2022.06a
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• pp.284-291
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• 2022

Historical data from comparable projects can serve as benchmarking data for an ongoing project's planning during the project scoping phase. As project owners typically store substantial amounts of data generated throughout project life cycles in digitized databases, they can capture appropriate data to support various project planning activities by accessing digital databases. One of the most important work tasks in this process is identifying one or more past projects comparable to a new project. The uniqueness and complexity of construction projects along with unorganized data, impede the reliable identification of comparable past projects. A project scope document provides the preliminary overview of a project in terms of the extent of the project and project requirements. However, narratives and free-formatted descriptions of project scopes are a significant and time-consuming barrier if a human needs to review them and determine similar projects. This study proposes an Artificial Intelligence-driven model for analyzing project scope descriptions and evaluating project similarity using natural language processing (NLP) techniques. The proposed algorithm can intelligently a) extract major work activities from unstructured descriptions held in a database and b) quantify similarities by considering the semantic features of texts representing work activities. The proposed model enhances historical comparable project identification by systematically analyzing project scopes.

• Journal of Environmental Science International
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• v.31 no.12
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• pp.1089-1102
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• 2022

Recently, urbanization has become a serious issue, as there is imbalance between regions and various environmental problems occur intensively in cities. Therefore, cities all over the world are promoting the Green New Deal and trying to realize carbon neutrality. Accordingly, the European Union is leading the creation of carbon-neutral cities by promoting policies aimed at rapidly realizing carbon neutrality. In Korea, projects such as U-City and Smart City have also been promoted continuously for many years, and recently, the projects Smart Green City and Carbon Neutral Green City have been introduced. Therefore, this study aimed to derive directions and implications for future projects based on policies to address climate change by analyzing the guidelines for the Smart Green City project and the project plans of Gimhae-si and Gangjin-gun, which are the leading projects in the Smart Green City business model and are equipped with an extensive budget.

• International conference on construction engineering and project management
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• 2022.06a
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• pp.74-82
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• 2022

Improving long-term performance in highway projects is an imperative goal for public administrations. Project delivery and procurement methods might provide an opportunity to align design and construction processes with this goal. Previous studies have explored whether project delivery methods impact the long-term performance of highway projects. However, these studies did not focus specifically on how core elements within the procurement might relate to long-term performance. Thus, this research aims to fill this gap by exploring to what extent and how long-term evaluation criteria are considered in design-build best-value procurement of highway projects. To this end, content analysis was conducted on 100 projects procured between 2009 and 2019 by 19 DOTs across the U.S. The analysis of 365 evaluation criteria found that (1) roughly 11% of them related to long-term performance. (2) The weight given to these criteria in the overall technical proposal was lower than 30%. (3) Sixty-five percent (65%) of long-term evaluation criteria focused on design while 15% related to materials and technology, respectively. The results of this study are a first steppingstone to initiate a deep exploration of the relationship between procurement practices and actual project performance. Currently, with sustainability and life cycle assessments being top concerns in infrastructure projects, this line of research might be of particular interest to DOTs and highway agencies across the U.S. and worldwide.

• International conference on construction engineering and project management
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• 2020.12a
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• pp.103-113
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• 2020

The construction industry is undergoing a digital transformation in which Building Information Modelling (BIM) is a key technology. The potential of BIM in several areas such as design optimization, time management, cost management, and asset management/facility management (AM/FM) is widely acknowledged by the AECO (Architecture, Engineering, Construction, and Operation) industry around the world. However, BIM implementation in construction projects is faced with problems such as project delay and cost overruns. The lack of identification of risks in BIM projects and standard guidelines on mitigation techniques furthers poor performance, dissatisfaction, and disputes between employers and project participants, which results in low BIM adoption rates. Therefore, the objective of this paper is to identify the potential risks in BIM implementation under the primary categories - (1) technical, (2) contractual, (3) management-related, and (4) personnel-related risks in BIM projects and present solutions to reduce, manage, and mitigate risks. To meet the objective of this paper, a survey was designed and conducted in the Hong Kong construction industry in which over 140 respondents from different disciplines, with experience in BIM projects, have participated. Based on the analysis of the survey data, the most severe and frequently occurring BIM risks and their potential mitigation strategies were identified and discussed in this paper.