Fig. 1. Research Methodology
Fig. 2. Concept of adjustment by item adjustment rate(Kim, W.Y. & Kim, Y.J., 2008)
Fig. 3. Concept of adjustment by index adjustment rate (Kim, W.Y. & Kim, Y.J., 2008)
Table 1. Example of Item Adjustment Method and Index Adjustment Method
Table 2. Index Adjustment Method and Item Adjustment Method Comparison
Table 3. Existing Expenditure Item Group of Construction Cost and Suggested New Item Group.
Table 4. Example of Estimation of Material De/Escalation Rate in Suggested New Method
Table 5. The part that needs to be regulated regarding the adjustment of contract amount due to price de/escalation
References
- Jang, H.G. (2015). "Explanation of the latest public contract system." Sam-il Book.
- Ministry of Strategy and Finance (2018). "Act on Contracts to Which the state is a Party."
- Lee, J.S., and Shin, Y.C. (2011). "Improvement on the Managerial Method of Price Fluctuation System." Korean Journal of Construction Engineering and Management, KICEM, 12(2), pp. 3-11. https://doi.org/10.6106/KJCEM.2011.12.2.3
- Na, S.H. (2005). "A Study on Improvement of Escalation Criteria based on Subcontract Dispute Cases." Chung-Ang University.
- Choi, M. S. (2014). "A Study on the Policies to improve the Escalating Regulations of Construction Price : With a Focus on Results of a Delphi Survey" Korean Journal of Construction Engineering and Management. 5(6). pp.203-211.
- Kim, S.H. (2011). "The Rationalization of Contract Sum Adjustment through Case Study of Price Fluctuation Adjustment based on Index Adjustment Method." Korean Journal of Construction Engineering and Management, KICEM, 12(4), pp. 70-79. https://doi.org/10.6106/KJCEM.2011.12.4.70
- Cho, H. H. and Doe, G. Y. (2005). "Improvement of contract sum adjustment method caused by price fluctuation using construction cost index" Korean Journal of Construction Engineering and Management. 6(1). pp.162-168.
- Ministry of Strategy and Finance (2018). "State Conctract Act"
- Kim, W.Y., and Kim, Y.J. (2008). "Improved contract amount adjustment based on price fluctuation-Focusing on the main item index adjustment (plan)." The Construction & Economy Research Institute of Korea (CERIK).
- Ji, Y.I. (2012). "Problem Analysis and Improvement Schemes to the Application of Producer Price Index for Construction Price Fluctuations." Chung-Ang University.
- Procurement Agency (2017). "Escalation Price Review Practice and Q/A."