• Korean Journal of Construction Engineering and Management
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• v.15 no.6
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• pp.92-104
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• 2014

CM services have been increasingly practiced over the two decades in the Korean construction industry, and recent efforts focus on further development in advanced CM capabilities and expansion to overseas market. However, there has been lack of holistic research to investigate current status and future direction of CM industry in Korea. In this context, the purposes of this study are 1) to analyze current status of Korean CM industry in terms of owners, market, CM firms, contracts, and work scopes, 2) to define different types of CM practices, and 3) to propose growth models for Korean CM firms based on the defined CM project types. An extensive literature review and statistical analysis of 2012 CM contracts were performed in order to analyze the CM status. Based on the analyses, ten different CM types are defined, and growth paths of CM firms are illustrated. Implications and lessons learned during the statistical analysis and workshops are briefly introduced as well.

• Korean Journal of Construction Engineering and Management
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• v.8 no.4
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• pp.110-118
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• 2007

For deciding the owner's budget of the building construction in the predesign stage, the probabilistic methodologies for estimating the cost are often studied, however these parameter-based conceptual estimating methodology has limitation of applying it to the practical business because it hardly can link the design decision-making and the cost estimating and control. Besides if the result of detail estimating after detail design is over the budget, locally and arbitrarily control the level of interior design and fix the design. This research proposed the prototype-based cost estimating model for building interior construction which leads to estimate the interior cost easily linking with design decision-making and supports to evaluate the design alternatives in the schematic design and the design development stage for office buildings. The model divides the building on the design process by Element Breakdown Structure and presents the design alternative by selecting the elements of each room from the database accumulated the historical office buildings' prototypes and estimates the cost. The 2 case studies presented to validate the effectiveness of as the linking tool integrating the design and construction data and applicability to the practical design on the presented prototype-based model.

• Journal of Navigation and Port Research
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• v.43 no.1
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• pp.72-78
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• 2019

The second-hand ship market provides immediate access to the freight market for shipping investors. When introducing second-hand vessels, the precise estimate of the price is crucial to the decision-making process because it directly affects the burden of capital cost to investors in the future. Previous studies on the second-hand market have mainly focused on the market efficiency. The number of papers on the estimation of second-hand vessel values is very limited. This study proposes an artificial neural network model that has not been attempted in previous studies. Six factors, freight, new-building price, orderbook, scrap price, age and vessel size, that affect the second-hand ship price were identified through literature review. The employed data is 366 real trading records of Panamax second-hand vessels reported to Clarkson between January 2016 and December 2018. Statistical filtering was carried out through correlation analysis and stepwise regression analysis, and three parameters, which are freight, age and size, were selected. Ten-fold cross validation was used to estimate the hyper-parameters of the artificial neural network model. The result of this study confirmed that the performance of the artificial neural network model is better than that of simple stepwise regression analysis. The application of the statistical verification process and artificial neural network model differentiates this paper from others. In addition, it is expected that a scientific model that satisfies both statistical rationality and accuracy of the results will make a contribution to real-life practices.