• Korean Journal of Construction Engineering and Management
• /
• v.18 no.3
• /
• pp.84-94
• /
• 2017

Recently, domestic construction companies have increasingly engaged in international PPP projects a result of both uncertainties in the domestic construction market and low competitiveness in international EPC project business. These international PPP projects usually require long-term preparations and substantial sales costs, which make it important for decision-makers to select winning-award potential project in early stage of the projects. However, most previous research has analyzed success factors in terms of project development across all stages. Thus, this study investigated 28 success factors of 4 categories in the early stage of 31 international PPP projects. First, results indicate that unsolicited PPP projects require better implementation capabilities and financial conditions compared to solicited PPP projects. Second, implementation capability is important because it is not easy to improve as the project proceeds. Third, commercial conditions are identified as important even if conditions are not fixed in the early stage of PPP projects. Fourth, non-commercial conditions, strategy, and public interest are not found to be meaningful in the early stage of PPP projects because they can vary as the project proceeds. This study helps to improve selection criteria aimed towards more winning-award potential project in the early stage of international PPP projects.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
• /
• v.61
• /
• pp.273-302
• /
• 2014

Project finance ("PF") is a method of raising long-term debt financing based on lending against the cash flow generated by the project alone. Project finance is a nonrecourse or limited recourse financing structure against the sponsors(or the investors). The debt terms in a project finance are not based on the creditor's credit support or on the value of the assets of the project. Lenders rely on the future cash flow to be generated by the project for debt repayment and interest, rather than the value of the project or the credit ratings of the sponsors. The non-recourse or limited recourse financing usually prompt potential project finance lenders to assess carefully all possible risks that might arise in a project to ensure that those risks are mitigated and controlled. In this respect, project finance is a opposite financing method of corporate finance. Project finance has rapidly grown over the last 20 years due to the worldwide process of privatization of public sector and development of natural resources. Global project finance volume reached the record USD 406.5 billion in 2011. In 2012, however, Global project finance volume dropped 6% to USD 382.3 billion. Infrastructure overtook Energy to lead all sectors with USD 113.6 billion. It is generally recognized that there are more and higher risks in project finance compared with corporate finance. Project finance is exposed to commercial risks as well as political risks. The main commercial risks are completion risks, environmental risks, operating risks, input supply risks, revenue risks, etc, and the main political risks are currency convertibility and transfer risks, expropriation risks, war and civil disturbance risks, risks of breach of government concession agreement, etc. Completion risks include permits risks, risks relating to the EPC Contractor, construction cost overrun, delay in completion, inadequate performance on completion, etc.

• Journal of Korean Society of Industrial and Systems Engineering
• /
• v.34 no.4
• /
• pp.49-56
• /
• 2011

The Project of Jordan Research and Training Reactor (JRTR) officially launched in Aug. 2010. JRTR is the first made-in-Korea nuclear system to be built abroad by year 2015, and Korea Atomic Energy Research Institute (KAERI) is responsible for the design of major systems including the reactor core. While the PDCS (Project Document Control System) being operated by EPC company controls all the documents of the whole Project, KAERI is supposed to have its own system for KAERI documents. Meeting such a need; KAERI has implemented a document control for the JRTR Project into already existing ANSIM (KAERI Advanced Nuclear Safety Information Management) system. The documents of JRTR project to be controlled are defined in the PPM (Project Procedures Manual), QAP (Quality Assurance Procedure) and PEP (Project Execution Program). The ANSIM consists of the document management holder, document container holder and organization management holder. The document management holder, which is the most important part of ANSIM-JRTR, consists of the DDA (Document Distribution for Agreement), IOC (Inter-office Correspondence), PM Memo. (Project Manager Memorandum) and cover sheets of design documents. Other materials such as meeting minutes, sub-department materials and design information materials are stored in an independent COP (Community of Practice). This established computerized document control system, ANSIM, could lessen a burden for project management team and enhance the productivity as well.

• Plant Journal
• /
• v.5 no.1
• /
• pp.51-59
• /
• 2009

The global plant construction market has grown dramatically since 2000. As the market grows, domestic EPC contractors are expanding to meet its needs and have made great strides in terms of economic indicators from a decade ago. Larger projects involve a number of risk factors, such as volatile oil prices, however, and thus require quantitative and elaborate project management techniques for the ultimate success of a project's profitability. In addition, many Korean companies face difficulties in predicting potential risks and problems due to a lack of experience in dealing with the global market trend toward projects based on the Cost-re(Cost Reimbursable) contract as opposed to those based on the LSTK(Lumpsum Turnkey) contract. This study will examine methods and types of man-hour management according to plant project contract types. Further, it will explore the man-hour management system for successful completion of projects by satisfying the client's needs and enhancing the convenience in engineers' using the system. Additionally, this study will analyze the current system and identify its problems to address potential problems.

• International conference on construction engineering and project management
• /
• 2020.12a
• /
• pp.353-358
• /
• 2020

Recent efforts to develop a common standard for nuclear power plants (NPPs) with the aim of creating (1) a digital environment for a better understanding of NPPs life-cycle management aspect and (2) engineering data interoperability by using existing standards among different unspecified project participants (e.g., owners/operators, engineers, contractors, equipment suppliers) during plants' life cycle process (EPC, O&M, and decommissioning). In order to meet this goal, there is a need for formulating a standardized high-level physical breakdown structure (PBS) for NPPs project management office (PMO). However, high-level PBS must be comprehensive enough and able to represent the different types of plants and the new trends of technologies in the industry. This has triggered the need for addressing the issues of the recent operational NPPs and future technologies' ramification for evaluating the changes in the NPPs physical components in terms of structure, system, and component (SSC) configuration. In this context, this ongoing study examines the recent conventional NPPs and technological trends in the development of future NPPs facilities. New reactor models regarding the overlap of variant issues of nuclear technology were explored. Finally, issues on PBS for project management are explored by the examination of the configuration of NPPs primary system. The primary systems' configuration of different reactor models is assessed in order to clarify the need for analyzing the new trends in nuclear technology and to formulate a common high-level PBS. Findings and implications are discussed for further studies.

• Journal of the Korean Professional Engineers Association
• /
• v.42 no.1
• /
• pp.49-53
• /
• 2009

Wind energy development and wind farm construction request multi-disciplinary study and coordination to pursuit economically and technically feasible project that may deliver a viable business model. This paper is to provide the study and coordination procedure with key management factors about the wind energy resource assessment and engineering design for EPC(Engineering, Procurement and Construction) contract for the successful business development.

• Journal of the Korea Computer Industry Society
• /
• v.5 no.8
• /
• pp.801-810
• /
• 2004

It is only 2 ~ 3 years in the interior to be introduced as a Ubiquitous era after going through mainframe, PC and internet era on account of the advent of computer. This thesis intends to present a model device of an epoch-making cash management system using the RFID(Radio Frequency Identification) Tag and EPC (Electronic Product Code) Platform which are core technologies of the Ubiquitous Computing on the assumption that cable and wireless internet is constructed in university. Also this sets up a purpose to minimize the administrative procedure as well as the waste of time, people and cost which are problems of the cash management system operating now. Therefore as a research project hereafter, it will be able to present an imporvement device about the problems which cannot solve these days through the model of the proposing cash management system when the standardization, normalization and commercialization of advanced IT department are accomplished.

• Journal of Digital Convergence
• /
• v.16 no.6
• /
• pp.75-84
• /
• 2018

Although many logistics companies are interested in project logistics, the existing research has been limited to the growth potential of project logistics market and the high barrier and importance of project logistics. This study analyzes using DEA the operational efficiency of forwarding companies registered in major overseas construction EPC companies and performing logistics services for overseas plant construction projects. For efficiency analysis, Super-SBM analysis and Malmquist analysis are used among DEA analysis techniques. As a result of the Super-SBM analysis, DMU 5 ranked first at 1.807. DMU 5 is more efficient than the other large corporations because it has the stable supply of its parent company H and the smallest input and output variables among the large corporations. As a result of Malmquist analysis, TCI, which is a technological development, showed a fluctuation while TECI showed a relatively stable variation. In addition, there is a difference in scale between major companies and small and medium sized companies. So, it is necessary to identify the efficiency improvement strategy for each group and apply it to the practical work.

• Korean Journal of Construction Engineering and Management
• /
• v.16 no.3
• /
• pp.59-67
• /
• 2015

Overseas expansion of domestic construction over the past 10 years has been fast growing. But as a result of simple construction business practices and a focus on EPC, sales margins was reduced. Domestic construction companies have been trying to redirect business to high-value-added-areas but have faced difficulty because there areas are current monopolized by global leading companies in the field of PMC. They have recently carried out 16 PMC related project in order to expand their experience and increase their competitiveness. Most of these construction companies that do PMC overseas have been focusing on the civil engineering sector. analyzing the important and performance result 50 separate PMC tasks in detail using IPA, it became clear that domestic construction companies should also focus on tasks and were analyzed in order to advance to overseas architecture PMC sector overseas. There are large gaps in the importance and performance result of both the planning and pre-construction phase. Importance compared to the current performance levels in the planning phase gap is largest, pre-construction phase has been analyzed in the following order. In particular, one should strengthen detailed tasks in the planing phase. This study is expected to be used as a basic to determine the performance level and tasks items. It is expected strengthen the capacities of domestic companies in the PMC field, for especially in the high value-aded-areas as indicated in the results of the analysis from this study.

• 한국정보통신설비학회:학술대회논문집
• /
• 2007.08a
• /
• pp.151-154
• /
• 2007

This paper describes the project for constructing a traceability system for producing using RFID antenna in 900MHz frequency band and the consideration. In this project we reviewed analysis of properties classified by production process and RFID system through each frequency band, and designed a single unit RFID reader including antenna. The developed antenna is optimized to a field condition and this paper will show the test results. Also, we designed a single unit RFID reader by adding a reader to a designed antenna and explained the rule of tag memory allocation. Lastly, after running the system we could calculate visible and invisible effects of operation results and check up a wide possibility of application for RFID.