• International conference on construction engineering and project management
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• 2007.03a
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• pp.130-139
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• 2007

This paper presents a study on risk analysis in terms of contractor's costs in construction phase in which Crystal ball (software of Decisioneering, UK) has been utilized as a main tool. To realize it, a questionnaire survey has been carried out to identify the dominant factors that strongly influence contractor costs in Vietnam. Based on results of questionnaire investigation, the survey identified three factors which were duration of each construction task, costs of reinforcing steel, and cement. Then a spreadsheet model was created in order to analyze risks. The study also indicates that the cost of reinforcing steel and cement are the cause of risks for contractors. According to the suggested model, contractors may foresee the probability of completion within the approved budget, and the possibility of earning in accordance with owner's payment conditions.

• Proceedings of the KIEE Conference
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• 2008.07a
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• pp.223-224
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• 2008

In this paper, a comparison analysis is executed about costs and merits & demerits of medium and large air-conditioning systems which are gas absorbtion chillers and thermal energy storages. These results will be applied to B/C analysis to propose advanced load management subsidy policies in the electrical and gas field.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.22 no.49
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• pp.33-41
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• 1999

The original tolerances, which are assigned by designers on the basis of handbooks and experience, cannot always be expected to be optimal or feasible, because they may yield an unacceptable manufacturing costs. So the systematic tolerance design considering manufacturing costs should be done. Therefore, this research analyzes the tolerance within the tolerance design using Monte-Carlo simulation method and sensitivity analysis and using genetic algorithm by tolerance allocation method. The genetic algorithm was developed for allocation of the optimal tolerance under the manufacturing limitation cost.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.13 no.8
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• pp.3417-3426
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• 2012

This study aims to determine how ownership structure (share-holding ratio of insiders, foreigners) affects agent costs (the portion of asset efficiency or non-operating expenses) through empirical analysis. However, as existing studies on correlations between ownership structure and agent costs adopted Pooled OLS Model, this study focused on additionally formulating Fixed Effect Model and Random Effect Model aimed to reflect the time of data formation and corporate effects as study models based on verification results on the suitability of Pooled-OLS Model before comparative analysis for the purpose of improvement of credibility and statistical validity of the results of empirical analysis based on the premise that the Pooled OLS Model is not reliable enough to verify massive panel data. The data has been accumulated over 10 years from 1998 to 2007 after the IMF crisis hit the nation, from a subject 331 companies except for financial institutions. As a result of the empirical analysis, verification of the suitability of model has determined that the Random Effect Model is appropriate in terms of asset efficiency among agent costs items. On the other hand, the Fixed Effect Model is appropriate in terms of non-operating costs. As a result of the empirical analysis according to the appropriate model, no hypothesis adopted in the Pooled OLS Model has been accepted. This suggests that developing an appropriate model is more important than other factors for the purpose of generating statistically significant empirical results by showing that different empirical results are produced according to the type of empirical analysis.

• International Journal of Highway Engineering
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• v.15 no.5
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• pp.91-99
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• 2013

PURPOSES : This study aims at proposing the methodology for benefit evaluations in pavement maintenance methods and timings using KoPMS(Korean Pavement Management System) software which was developed for efficient pavement management. METHODS : This study classified pavement sections into 4 clusters considering AADT(Annual Average Daily Traffic) and ESAL(Equivalent Single-Axle Load) using cluster analysis and used the deterioration models in each cluster. Increased user costs due to pavement deterioration as time goes by and agent costs for maintenance were estimated. Based on deterioration model and KoPMS software, Methodology for benefit evaluation was proposed in pavement maintenance methods and with/without implementation using real pavement section data. RESULTS : This study verified that considering agent costs only would be constrained to decide pavement maintenance methods and timings, and ascertained that decision making with agent and user costs would be effective. In addition, this study revealed that pavement maintenance methods and timings can be affected by AADT and ESAL and frequent pavement maintenances can be more efficient for benefits in pavement sections with more AADT and ESAL. Also this study found that user costs would be more affected to decision making than agent costs. Moreover, Delay of conducting pavement maintenance caused increased vehicle operating costs and environmental costs because of poor conditions of pavements. CONCLUSIONS : This study proposed LCCA and benefit estimation methodology of pavement with considering agent and user costs. The results of this study can be used for baseline data of efficient pavement asset management.

• Korean Journal of Construction Engineering and Management
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• v.23 no.3
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• pp.25-35
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• 2022

The purpose of this study is to derive risk events that occurred during aircraft runway construction and analyze loss costs for project participants. For this purpose, design change data, contracted statement and completed statement were investigated. The results of this study are as follows: There were 12 risk events in the process of construction, 5 design errors and 7 construction errors. The increased construction costs due to such risk events were calculated as KRW 726 million. Of the KRW 726 million that was increased due to risk events, about 52.57% was spent by the ordering agency, and about 47.43% contractors. The increased construction costs due to such risk events are about 4.86% of the direct construction costs of KRW 14.9 billion. Based on the results derived from these case studies, a method for estimating reserve costs and construction costs considering risk events is presented.

• Korea Journal of Hospital Management
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• v.5 no.1
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• pp.129-155
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• 2000

This empirical study, activity-based costing, a newly introduced approach that has proved to be an improvement over the conventional costing system in product or service costing, is applied at department of clinical pathology in K university hospital. The study subjects were 233 test procedures done in clinical laboratory of K university hospital. Activity analysis was done by interview, questionnaires, and time study, and the amount of resources consumed by each activity and their costs are then traced and applied to the laboratory tests. The main purpose of this study were to compare the test costs of activity-bases costing with those of conventional costing, and test fees of medical insurance, and to provide accurate cost informations for the decision makers of hospital. The major findings of this study were as belows. 1. The cost drivers for application of activity-based costing at clinical laboratory were cases of sample collection, case of specimen, cases of test, and volume-related allocation bases such as direct labor hours and total revenue of each test. 2. The profits of each clinical laboratory fields analyzed by conventional costing were different from the profits analyzed by activity-based costing, especially in the field of Urinalysis(approximately over estimated 750%). 3. The standard full costs by conventional costing were quite different from the costs computed by using activity-based costing, and the difference is most significant with the tests of long labor time. 4. From the comparison between costs computed by using activity-based costing and medical insurance fees, some test fees were significantly lower than the costs, especially in the non-automated fields. As described in this study, activity-based costing provides more accurate cost information than does conventional costing system. The former approach is especially important in the health care industry including hospitals in which planning and controlling the costs services provided are the key to maintaining a healthy financial status for the organization. Despite the contribution of activity-based costing the economic as well as technical feasibilities of implementing such a cost accounting system in an organization must be evaluated. In the development of activity-based costing systems, an activity analysis has to be conducted to identify activities that consume resources. This involves a detailed study of the organization's logistics and accounting information systems, and it is an expensive project in itself. Besides, it can be quite difficult and time consuming to identify and trace resource consumption to a specific activity. Thus the activity-based costing system should be implemented only when the decrease in cost of error far exceeds the increase in cost of measurement. By combining activity-based costing with standard costing, health care administrators can better plan and control the costs of health services provided while ensuring that the organization's bottom line is healthy.

• Health Policy and Management
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• v.14 no.1
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• pp.89-120
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• 2004

The purpose of this empirical study is to test hypotheses in order to identify the cost drivers that drive indirect costs in general hospitals in Korea. In various cases' studies, it has been suggested that overhead costs are driven by volume and complexity variables, how they are structurally related and how the cost impacts of these variables can be A unique feature of the research is the treatment of complexity as an endogenous variable. It is hypothesized that level of hospital complexity in terms of the number of services provided(i.e., “breath" complexity) and the intensity of individual estimated in practice. overhead services(ie., “depth" complexity) are simultaneous determined with the level of costs needed to support the complexity. Data used in this study were obtained from the Database of Korean Health Industry Development Institute, Health Insurance Review Agency and analyzed using simultaneous equation model, path model. The results found those volume and complexity variables are all statistically signi-ficance drivers of general hospital overhead costs. This study has documented that the level of service complexity is a significant determinant of hospital overhead costs, caution should be exercised in interpreting this as supportive of the cost accounting procedures associated with ABC. with ABC.

• Journal of Information Technology Services
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• v.12 no.3
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• pp.1-21
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• 2013

This study attempts to explain the mechanism behind the migration from vertically integrated value chain architecture to an innovation ecosystem consisting of horizontally separated layers in value chain. We first present a comprehensive framework based on the theoretical analysis of the drivers for migration to an innovation ecosystem, which are standard (institution), capability distribution, and transaction costs. The theoretical framework suggests that the migration to an innovation ecosystem is explained by the influence of standard on the evolutionary change of capability distribution and transaction costs. In particular, when the new de-jure standard competes with the de-facto standard, the new de-jure standard has the greatest impact on the distribution capabilities and the transaction costs. Based on this theoretical framework, we analyze the latest SDN (Software Defined Networking) case of the network industry. SDN standard has transformed the industry from a vertically integrated value chain architecture to a horizontally separated one with its influence on the distribution capabilities and the transaction costs in the industry.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• 2004.11a
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• pp.510-514
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• 2004

This research is a preliminary one to investigate transitional problems of actual-cost-date-based contract cost estimation method and suggestions for counteracting them. As parts of it, in this paper, the brief background and methods of the new method and contract costs estimated by introducing it are presented. The results of five projects' contract costs are compared to those estimated by the conventional quantity-based method. Comparison of the both is conducted in terms of total contract costs and contract costs according to type of sub-contracts. Finally, the propositional differences of the later to the former are analysed.