• International conference on construction engineering and project management
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• 2005.10a
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• pp.474-479
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• 2005

Indicators measuring performance and the level of informatization of construction companies have recently been developed. Construction companies' investment in informatization, however, is still relatively low compared to that of other companies in different industries, since it has been difficult in quantifying the effect of informatization on total performance. This study, therefore, conducted an industry survey using indicators provided by previous studies, and used them to calculate performance and informatization indices for construction companies. Finally, it suggested a quantitative analysis of the effect of informatization on these companies' performance.

• International conference on construction engineering and project management
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• 2009.05a
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• pp.587-592
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• 2009

Construction companies in Korea have shown interest in BIM (Building Information Modeling) even if late, adopted it, and applied it to several projects. But, it is hard to figure out the status of BIM implementation. Thus, this study is to figure out the status of BIM implementation in Korea by surveying major construction companies in Korea and comparing with similar surveys abroad. The survey result shows that only 11 companies in Korean construction industry adopted BIM. The clash check (73%) was mostly used among various BIM functions and other functions were used less than 30%. As of 2008, only 8 construction companies have used BIM in 27 projects and thus, Korean companies are in the BIM introduction period. Therefore, successful introduction of BIM is required by benchmarking the BIM introduction process of overseas construction industries

• International conference on construction engineering and project management
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• 2005.10a
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• pp.1100-1105
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• 2005

To compete with large construction companies whose dominance in market share is deepening recently, the needs for improving field production system of mid-size construction companies have increased rapidly. The development of an adequate model that focuses on the organizational size and work process of the mid-size construction companies are needed to increase productivity through the informatization in the construction industry[0]. The authors of this study used case studies on the problems of the mid-size construction companies in procuring work and presented a method to solve such problems so that the managers in head office of those mid-size construction companies can effecitively deal with multiple sites[0].

• International conference on construction engineering and project management
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• 2022.06a
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• pp.336-343
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• 2022

Industrial robotic arms are widely adopted in numerous industries for manufacturing automation under factory settings, which eliminates the limitations of manual labor and provides significant productivity and quality benefits. The U.S. modular construction industry, despite having similar controlled factory environments, still heavily relies on manual labor. Thus, this study investigates the U.S., Canada, and Europe-based leading modular construction companies and research labs implementing industrial robotic arms for manufacturing automation. The investigation mainly considered the current research scope, industry state, and constraints, as well as identifying the types and specifications of the robotic arms in use. First, the study investigated well-recognized modular building associations, the Modular Building Institute (MBI), and renowned architecture design magazine, Dezeen to gather industry updates. The authors discovered one university lab and a few companies that adopted Switzerland-based robotic arms, ABB. Researching ABB robotics led to the discovery of ABB's competitor, Germany-based KUKA robotic arms. Consequently, research extended to the companies and labs adopting KUKA models. In total, this study has identified seven modular companies and four research labs. All companies employed robotic arms and gantry robot combinations in a production-line-like system for partial automation, and some adopted design standardization for optimization. The common goal among the labs was to achieve greater flexibility and full automation with robotic arms. This study will help companies better implement robotic arm automation by providing recommendations from investigating its current industry status.

• Korean Journal of Construction Engineering and Management
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• v.23 no.4
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• pp.36-46
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• 2022

It takes a relatively long time for construction companies that lack the ability to finance to adapt to construction policy in the construction industry. However, financial institutions rarely provide financial products to construction companies, particularly small and medium-sized construction companies, because their security capacity and credit rating are low. This study investigates the financial products needed for small and medium construction companies to adapt to policy changes. The demand of small and medium construction companies for financial products is analyzed by experts' advise and survey. And, when the investigated financial products for the construction industry are introduced, the legal systems in need of revision are analyzed. Based on the analyzed demand and the number of legal systems needing revision, the priority for the introduction of financial products to the construction industry is analyzed. Among the financial products investigated, the priority of "Expert consultation, such as accountant, tax accountant, lawyer, etc." is the highest. In future studies, the criteria and method of financial product development for high-priority financial products could be researched.

• Land and Housing Review
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• v.9 no.1
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• pp.1-9
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• 2018

As the government announced Real Estate Policies on August 02, most areas except for Seoul cities face increasing business risks. Moreover, the government control over financial sectors' loan leads to the highly possible contraction of new distribution markets. The market trend could bring about the reduction of new demand in PF (Private Financing) business that large construction companies mainly concentrate on, and even the business already obtained has a high risk of being distributed, which could result in substantially low profitability. The currently unstable financial structure of most construction companies is caused by the hike of the prime cost of foreign plants except for that of a few construction companies. If PF (Private Financing) business also faces a difficult situation in such a financial condition, even large construction companies come to have the high possibility of a deficiency in credit rating. Accordingly, the major business that large construction companies concentrate on needs the sufficient business review. It is desirable to make a bid for business guaranteeing stability rather than business solely in consideration of profitability, when participating in a competition for a new construction contract.

• International conference on construction engineering and project management
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• 2015.10a
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• pp.92-96
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• 2015

Due to unique characteristics of small construction companies, safety management is comprised of complex problems (e.g., resources constraints, a lack of formalized management structures, low level of management safety commitment etc.). In order to understand causal interdependencies between safety factors at different system levels (regulation, organization, technical and individual), this paper aims to develop a system dynamics (SD) model of safety management in small construction companies. The purpose of the SD model is to better understand why small construction companies have low level of safety performance. A causal loop diagram (CLD) was developed based on literature, with an attempt to map causal relationships between variables. The CLD was then converted into stock and flow diagram for simulation. Various tests were conducted to build confidence in the model's ability to represent the reality. A number of policies were analyzed by changing the value of parameters. The value of a system dynamics approach to safety management in small construction companies is its ability to address joint effects of multiple safety risk factors on safety performance with a systems thinking perspective. By taking into account feedback loops and non-linear relationships, such a system dynamics model provides insights into the complex causes of relatively poor safety performance of small construction companies and improvement strategies.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.17 no.8
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• pp.147-156
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• 2016

This study analyzed the impact of changes in the construction business on construction company insolvency according to their size using the vector error correction model. First, this study applied EDF (Expected Default Frequency), which was calculated by KMV (Kealhofer, McQuown and Vasicek) model, as a variable to indicate the insolvency of construction companies. This study set 30 construction companies listed to KOSPI/KOSDAQ for estimating the EDF by size and construction companies were divided into two groups according to their size. To examine the construction business cycles, the amount of construction orders according to the type-residential, non-residential, and civil work- was used as a variable. The serial data was retrieved from TS2000 established by the Korea Listed Companies Association (KLCA), Statistics Korea. The analysis period was between the second quarter of 2001 and fourth quarter of 2015. As a result of calculating the EDF of construction companies by size, as it is generally known, the large-sized construction companies showed lower levels of insolvency than relatively smaller-sized construction companies. On the other hand, impulse response analysis based on VECM confirmed that the level of insolvency of large-scaled companies is more sensitive to business fluctuations than relatively smaller-sized construction companies, particularly changes in the residential construction market. Hence it is a major factor affecting the changes in insolvency of large-sized construction companies.

• International conference on construction engineering and project management
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• 2015.10a
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• pp.354-356
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• 2015

As domestic recession has had an adverse impact on many Korean companies in Korea, financial soundness has become a critical issues. It is essential to identify financial risk factors to prevent workout as well as to improve the financial condition of domestic construction companies. Therefore, this study derived important management indicators and the financial ratios that belong to each indicator through a comparative analysis between healthy companies and workout companies with financial statement. As a consequence, key financial ratios are derived into 3 of 25 ratios; Equity Ratio in stability indicator, Total Asset Turnover Ratio in activity indicator, and Labor Equipment Ratio in productivity indicator. So, Korean construction firms are required close monitoring these critical financial ratios indicating variation between construction companies which have opposing statuses in finance in order to keep sound financial condition and increase productivity.

• International conference on construction engineering and project management
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• 2007.03a
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• pp.140-149
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• 2007

Indian construction companies have only 0.05% market share in the 3-4 trillion dollar global construction business and only two Indian construction companies figure in the ENR "Top 225 Global Contractors 2006" list. Hence, while enormous scope for growth exists, international construction experience is limited. This study explores the risks as perceived by Indian companies venturing abroad since risks in international construction differ from home market risks. Literature survey identified a number of risk factors that were evaluated by the experts, highlighting fourteen important risk factors. Interpretive Structural Modelling (ISM) was used to develop a hierarchical model showing the relationships between the different risk factors, thus helping to focus on the key risks for effective risk management. The study shows that poor project management is a key risk forming the hub of the system, while political instability has maximum influence. The results of the study can be used by managers to visualise the risks in perspective and prioritise the mitigation effort.