• Title/Summary/Keyword: Cost monitoring

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The Cost Monitoring of Construction Projects through Earned Value Analysis

  • Waris, Muhammad;Khamidi, Mohd Faris;Idrus, Arazi
    • Journal of Construction Engineering and Project Management
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    • v.2 no.4
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    • pp.42-45
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    • 2012
  • In construction industry, the term 'procurement' is considered as a project based job where clients and contractors are always keen to observe performance indicators. These indicators represent financial and non-financial efficiency of project activities. Among these, the monitoring of financial indicators such as cost monitoring is an ongoing process and its importance cannot be undermined during the project life cycle. It can be monitored by using traditional approach of direct reporting of actual cost against budget. However, the comparison of budget versus actual spending does not indicate the worth of the work which is completed at any given time. This approach does not represent the true cost performance of the project. Because of these limitations, this paper discusses the applications of Earned Value Analysis (EVA) for cost monitoring of construction projects in Malaysia. Besides traditional approach, EVA is a three-dimensional approach that compares three cost indicators i.e. the budgeted value of work scheduled with the earned value of physical work completed and the actual cost of work completed. Therefore, cost monitoring by EVA is an objective measure of actual work performed. This paper uses a case study, an example application of EVA as a cost monitoring tool. This case study reaffirms the benefits of using EVA for project cash flow analysis and forecasting.

A Study on Analysis of Construction Monitoring Cost and Improvement Measures of Railway Tunnel Construction in Seoul (서울시 철도터널 건설공사의 공사계측비 분석 및 개선방안 연구)

  • Jong-Tae Woo
    • Journal of the Society of Disaster Information
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    • v.19 no.1
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    • pp.18-30
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    • 2023
  • Purpose: This study is to contribute to the development of monitoring technology through the increase of confidence in construction monitoring by deriving the analysis of construction monitoring cost and improvement measures of railway tunnel construction in Seoul. Method: It presents the status on design and contract of construction monitoring cost, status on application construction monitoring cost and its analysis, analysis on safety management cost and quality management cost, expansion of application of the price calculation standard for monitoring management services to improve this, and monitoring for direct order of ordering organization. Results: If the monitoring management service that was meanwhile ordered as included in the construction work is performed by the directly selected company of ordering organization through the preliminary screening for bidding qualification, then the improvement of monitoring quality and the accurate monitoring data can be secured. Conclusion: For the price calculation standard for monitoring management service, the application of actual cost addition method under the Engineering Promotion Act and the calculation standard of monitoring management cost for standard estimation for ground survey should be extended through the direct order of ordering organization, not the method to be included in the net construction cost where it is performed by a subcontractor via contractor.

Implementation of cost-effective wireless photovoltaic monitoring module at panel level

  • Jeong, Jin-Doo;Han, Jinsoo;Lee, Il-Woo;Chong, Jong-Wha
    • ETRI Journal
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    • v.40 no.5
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    • pp.664-676
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    • 2018
  • Given the rapidly increasing market penetration of photovoltaic (PV) systems in many fields, including construction and housing, the effective maintenance of PV systems through remote monitoring at the panel level has attracted attention to quickly detect faults that cause reductions in yearly PV energy production, and which can reduce the whole-life cost. A key point of PV monitoring at the panel level is cost-effectiveness, as the installation of the massive PV panels that comprise PV systems is showing rapid growth in the market. This paper proposes an implementation method that involves the use of a panel-level wireless PV monitoring module (WPMM), and which assesses the cost-effectiveness of this approach. To maximize the cost-effectiveness, the designed WPMM uses a voltage-divider scheme for voltage metering and a shunt-resistor scheme for current metering. In addition, the proposed method offsets the effect of element errors by extracting calibration parameters. Furthermore, a design method is presented for portable and user-friendly PV monitoring, and demonstration results using a commercial 30-kW PV system are described.

Full-scale bridge expansion joint monitoring using a real-time wireless network

  • Pierredens Fils;Shinae Jang;Daisy Ren;Jiachen Wang;Song Han;Ramesh Malla
    • Structural Monitoring and Maintenance
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    • v.9 no.4
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    • pp.359-371
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    • 2022
  • Bridges are critical to the civil engineering infrastructure network as they facilitate movement of people, the transportation of goods and services. Given the aging of bridge infrastructure, federal officials mandate visual inspections biennially to identify necessary repair actions which are time, cost, and labor-intensive. Additionally, the expansion joints of bridges are rarely monitored due to cost. However, expansion joints are critical as they absorb movement from thermal effects, loadings strains, impact, abutment settlement, and vehicle motion movement. Thus, the need to monitor bridge expansion joints efficiently, at a low cost, and wirelessly is desired. This paper addresses bridge joint monitoring needs to develop a cost-effective, real-time wireless system that can be validated in a full-scale bridge structure. To this end, a wireless expansion joint monitoring was developed using commercial-off-the-shelf (COTS) sensors. An in-service bridge was selected as a testbed to validate the performance of the developed system compared with traditional displacement sensor, LVDT, temperature and humidity sensors. The short-term monitoring campaign with the wireless sensor system with the internet protocol version 6 over the time slotted channel hopping mode of IEEE 802.15.4e (6TiSCH) network showed reliable results, providing high potential of the developed system for effective joint monitoring at a low cost.

Wave Modeling for Low-cost Wave Monitoring System (저가형 해파 모니터링 시스템을 위한 파형 모델링)

  • Lee, Jung-Hyun;Lee, Dong-Wook;Heo, Moon-Beom
    • The Transactions of The Korean Institute of Electrical Engineers
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    • v.63 no.3
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    • pp.383-388
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    • 2014
  • This paper describes a wave modeling method using low-cost sensors. Wave modeling is applied to the wave monitoring system for accurate measurement of ocean wave parameters. The observation of ocean wave parameters is necessary to improve the accuracy of forecast of ocean wave condition. However, the ocean wave parameters measured by a low-cost wave monitoring system suffer from several errors. Therefore we introduce a wave modeling method to compensate the ocean wave parameters corrupted by errors. The proposed method is analyzed using experiments within controlled environment. It is verified that the accuracy of low-cost wave monitoring system can be increased by the proposed method.

Development of Remote Control and Monitoring System for HID Street-lamp Based on Low Cost Zigbee Communication Network (저 가격형 Zigbee 통신 네트워크 기반 HID 가로등의 원격 제어 및 감시 시스템 개발)

  • Chung, Wan-Sup;Kim, Yang-Bae;Shon, Jin-Geun
    • The Transactions of the Korean Institute of Electrical Engineers P
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    • v.63 no.2
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    • pp.69-73
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    • 2014
  • In this paper, remote control and surveillance monitoring system of HID street-lamp using low-cost type of Zigbee communication module was developed. A plurality of capacitors with different capacity are attached to magnetic ballast for HID lamps. Changes in the amount of illumination can be adjusted by the changes in capacity so that the electric energy can be reduced. In Zigbee communication module, a ATmega128L microprocessor is used and in main CPU, ARM9 Core is used to construct a low-cost smart system. In surveillance monitoring systems, the system was configured to remote monitoring of presence of error in the lamp abnormalities, the status of leakage current and abnormalities of ballasts and capacitors and the validity of the proposed empirical experiment was confirmed.

A Combined Process Control Procedure by Monitoring and Repeated Adjustment

  • Park, Changsoon
    • Communications for Statistical Applications and Methods
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    • v.7 no.3
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    • pp.773-788
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    • 2000
  • Statistical process control (SPC) and engineering process control (EPC) are based on different strategies for processes quality improvement. SPC reduces process variability by detecting and eliminating special causes of process variation. while EPC reduces process variability by adjusting compensatory variables to keep the quality variable close to target. Recently there has been needs for a process control proceduce which combines the tow strategies. This paper considers a combined scheme which simultaneously applies SPC and EPC techniques to reduce the variation of a process. The process model under consideration is an integrated moving average(IMA) process with a step shift. The EPC part of the scheme adjusts the process back to target at every fixed monitoring intervals, which is referred to a repeated adjustment scheme. The SPC part of the scheme uses an exponentially weighted moving average(EWMA) of observed deviation from target to detect special causes. A Markov chain model is developed to relate the scheme's expected cost per unit time to the design parameters of he combined control scheme. The expected cost per unit time is composed of off-target cost, adjustment cost, monitoring cost, and false alarm cost.

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Cost-effective structural health monitoring of FRPC parts for automotive applications

  • Mitschang, P.;Molnar, P.;Ogale, A.;Ishii, M.
    • Advanced Composite Materials
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    • v.16 no.2
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    • pp.135-149
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    • 2007
  • In the automobile industry, structural health monitoring of fiber reinforced polymer composite parts is a widespread need for maintenance before breakdown of the functional elements or a complete vehicle. High performance sensors are generally used in many of the structural health monitoring operations. Within this study, a carbon fiber sewing thread has been used as a low cost laminate failure sensing element. The experimentation plan was set up according to the electrical conductance and flexibility of carbon fiber threads, advantages of preforming operations, and sewing mechanisms. The influence of the single thread damages by changing the electrical resistance and monitoring the impact location by using carbon thread sensors has been performed. Innovative utilization of relatively cost-effective carbon threads for monitoring the delamination of metallic inserts from the basic composite laminate structure is a highlighting feature of this study.

A Cost-Effective Pigsty Monitoring System Based on a Video Sensor

  • Chung, Yongwha;Kim, Haelyeon;Lee, Hansung;Park, Daihee;Jeon, Taewoong;Chang, Hong-Hee
    • KSII Transactions on Internet and Information Systems (TIIS)
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    • v.8 no.4
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    • pp.1481-1498
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    • 2014
  • Automated activity monitoring has become important in many applications. In particular, automated monitoring is an important issue in large-scale management of group-housed livestock because it can save a significant part of farm workers' time or minimize the damage caused by livestock problems. In this paper, we propose an automated solution for measuring the daily-life activities of pigs by using video data in order to manage the group-housed pigs. Especially, we focus on the circadian rhythm of group-housed pigs under windowless and 24-hour light-on conditions. Also, we derive a cost-effective solution within the acceptable range of quality for the activity monitoring application. From the experimental results with the video monitoring data obtained from two pig farms, we believe our method based on circadian rhythm can be applied for detecting management problems of group-housed pigs in a cost-effective way.

An Analysis on the Strategic Behaviors of the Bilaterally Monopolistic Firms under Uncertain Information

  • Jun, Iksu
    • Journal of agriculture & life science
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    • v.46 no.6
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    • pp.185-195
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    • 2012
  • The purpose of this paper is to analyze how strategically the bilaterally monopolistic firms, only-one-seller and only-one-buyer, behave in a situation in which each firm has uncertain information on its opponent firm's cost. Even though the two firms know that seeking integrated profit leads to the optimized profit for both firms, each firm has an incentive to opportunistically behave to increase its share of the integrated profit. These opportunistic behaviors of the firms are analyzed through a game theoretic approach especially finding Nash equilibrium mixed strategies for the strategic profiles such as true-report or not and monitoring or not. The comparative statics to the Nash equilibrium mixed strategies shows that as the profit share increases the probability of monitoring an opponent firm is decreased while the probability increases as the size of the overstated production cost increases. This study also shows that high penalty and low monitoring cost lead to high probability to tell the truth of the production cost.