• International conference on construction engineering and project management
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• 2013.01a
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• pp.479-487
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• 2013

State Highway Agencies (SHAs) have started utilizing cost-plus-time bidding (A+B bidding) since Federal Highway Agency (FHWA) declared it operational on May 4, 1995. Although this technique has successfully accelerated many projects by incorporating construction time in the bidding competition, a framework to illustrate the interactions of incentive/disincentive (I/D) rates on the competitiveness of contractors participating in the bid competition is yet to be developed. In a previous research, authors indicated that for each bid competition there is an efficient cap for I/D rates which are dictated by the capabilities of contractors in project acceleration. However, the results of previous study were based on the assumption that there is a statistically significant relationship between cost and time. In this study, the entire cost-plus-time projects implemented by the Oklahoma Department of Transportation (ODOT) were investigated. Then the significance of relationship between cost and time were analyzed for each contractor utilizing Analysis of Variance (ANOVA) technique, and the price-time function of each contractor was determined by regression analysis. The results of the analysis indicate that there is a significant relationship between cost and time for the majority of contractors. However, a quadratic relationship is not always significant and for some contractors a linear price-time relationship is significant. The results of this project can be used not only by ODOT to optimize the incentive/disincentive rates but also by contractors to determine the most competitive strategies of other bid participants.

• Korean Journal of Construction Engineering and Management
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• v.19 no.1
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• pp.3-11
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• 2018

In order to find methods to encourage active private participation for efficient road maintenance, this study examined the status of the road improvement project and the development of the private capital utilization improvement project. Based on this, the study conducted a case study and a financial feasibility study that applied the new business method and selected the applicable business method. As a result, it is analyzed that the method of using Crowd Funding is more advantageous than the private scheme of the private capital utilization improvement project. This is because it will be highly effective in raising funds from users of highway users, especially users of improvement projects. In addition, it can also mean that the road users who suffer from inconvenience due to the construction can return the toll profit of road construction to the user.

• Journal of Industrial Technology
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• v.27 no.B
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• pp.177-184
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• 2007

Project Financing(PF) was introduced from the way of banks' conditional financing that take buried oil as security and offer required money to oil explores which have weak loaning ability in the U.S. 1930s. After that PF has developed with financial market and it has been activated in the market of Korea since 'An Institution about Private Financing Invitation Promotion' was established. Started with I-Hwa Ryoung tunnel project, PF has been used in the Metropolitan Area Airport Highway and etc. But because of the risk that occurred by PF's complexity and uncertainty, PF has not been used fully and there are only few practical examples. The purpose of the present study is to investigate how to decrease, identify and extract the risky factors of project that being planned by PF.

• International conference on construction engineering and project management
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• 2007.03a
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• pp.563-572
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• 2007

Transportation infrastructure is critical to economic growth of a country such as China. Careful evaluation of investments in traffic infrastructure projects is therefore pertinent. As traditional evaluation methods do not consider the uncertainty of future cash flows and mobility during project execution, the real option approach is gradually gaining recognition in the context of valuing construction and infrastructure projects. However, many of the cases only evaluate individual options separately although multiple options often exist in a typical large infrastructure project. Using a highway project in China as a case study, this paper first evaluates a deferment option and a growth option embedded in the project. Subsequently, the values are combined using the fuzzy analytical hierarchy process. It is found that the combined value is less than the sum of the two option values. This finding is consistent with the theoretical observations given in past real option literature despite the use of a different approach.

• Korean Journal of Construction Engineering and Management
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• v.7 no.3 s.31
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• pp.138-148
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• 2006

The construction supervisors of the public companies are usually responsible for process management, quality management, safety management, and many other various tasks that occur during construction project. Public companies such as Korea Highway Corporation have developed a framework and manual for management and supervision of construction projects. But, there has been the change of business environment such as increase of private investment project and the introduce of construction management system recently. It has been necessary for construction supervisor to streamline the current project management system in the owner's aspect in order to cope with the expected new challenges. Accordingly, this research has been investigated and analyzed the operation system between Korean supervisor and foreign supervisor in their public corporation. This research has suggested the advanced project management in their public corporation. Especially, this study has proposed the construction management manual for supervisors such as inspectors training, supervisors construction manual, and supervisors training road map.

• Journal of the Korean Professional Engineers Association
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• v.43 no.4
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• pp.44-49
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• 2010

Th Rach Gia Bypass Project, to be implemented under EDCF Loan VNM-12, constitutes a strategically important part of the Greater Mekong Sub-region Southern Coastal Corridor Project(the GMS-SCCP). The main goal of the GMS strategy is to promote sustainable economic growth, improve employment, and achieve poverty reduction by tapping the comparative advantages of Vietnam, Cambodia and Thailand. As a project manager who once took a responsible position for the completion of RGBP's detailed design, I would like to briefly introduce what our design team including the local sub-contractors had performed for the D/Design of this Project last year, especially in the field of highway, bridge and soft soil treatment method widely used in Mekong Delta area. With the performance of nearly two Projects due to the V.O. in one year on the prescribed time, it was a hard year but a rewarding one. To expand our horizon more about overseas projects, several recommendations for the brighter future of overseas projects are shown herein this paper.

• Proceedings of the KSR Conference
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• 2008.06a
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• pp.1574-1586
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• 2008

Railway is the most effective transportation than any other traffic. But due to the its expensive maintenance fee and various components like roadbed, rail, rollingstock, electric and signal etc, the construction cost of the railway is usually higher than highway. Such a reason, a lot of cost and period are needed to complete the railway project. In addition that considering the decreasing of the SOC budget, the investment in the railway industry is getting hard than ever. This study analyzed the cost, term of work, freight & passenger transportation demand of the wide area railway electrification project and main line improvement project. And it compared the estimation value and real value of the projects like cost and period etc. And this study surveyed the economic feasibility including factors which are not considered in the feasibility study guide. With those results, This study suggest the project management and evaluation method to enlarge the efficiency of the railway construction project.

• Journal of Korea Multimedia Society
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• v.16 no.2
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• pp.180-189
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• 2013

The SMART Highway project combines road construction with advanced technology and vehicle telecommunications. Its expected outcome is a world-leading intelligent road that is green, fast, and comfortable. A vehicular ad-hoc network(VANET) is the core technology of the SMART Highway, whose transport operation is based on road vehicles. The VANET is a next-generation networking technology that enables wireless communication between vehicles or between vehicles and a road side unit(RSU). In the VANET system, a vehicle accident is likely to cause a serious disaster. Therefore, some information on safety is essential to serve as the key exchange protocol for communication between vehicles. However, the key exchange scheme of the general network proposed for a fast-moving communication environment is unsuitable for vehicles. In this paper, communication between multiple vehicles more efficient and secure key exchange at the vehicle certification by signcryption is proposed.

• Computers and Concrete
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• v.11 no.1
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• pp.51-61
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• 2013

This paper describes earthquake response of the Arhavi Highway Tunnel its geometrical properties, 3D finite element model and the linear time history analyses under a huge ground motion considering soil-structure interaction. The Arhavi Highway Tunnel is one of the tallest tunnels constructed in the Black Sea region of Turkey as part of the Coast Road Project. The tunnel has two tubes and each of them is about 1000 m tall. In the study, lineartime history analyses of the tunnel are performed applying north-south, east-west and up accelerations components of 1992 Erzincan, Turkey ground motion. In the time history analyses, Rayleigh damping coefficients are calculated using main natural frequency obtained from modal analysis. Element matrices are computed using the Gauss numerical integration technique. The Newmark method is used in the solution of the equation of motion. Because of needed too much memory for the analyses, the first 10 second of the ground motions, which is the most effective duration, is taken into account in calculations. The results obtained 3D finite element model are presented. In addition, the displacement and stress results are observed to be allowable level of the concrete material during the earthquakes.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.29 no.1D
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• pp.63-72
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• 2009

This study aims at establishing the decision-making support system for the highway assets, long-term performance presumption and evaluation of asset value, which are appropriate for Korea, and proposing the methods of the optimal engineering method and the timing decision for the preventive maintenance through the project evaluation, the optimization method and life-cycle analysis related to the highways. In order to supplement the current problem of the near-sighted budget management system, which chooses the maintenance place of the highway, depending on the level of the budget with fixed amount, the long-term required budget prediction system and the economy principle were introduced, so that the pavement agency can predict the level of the required budget, and it was aimed to develop the pavement asset evaluation system to maintain the performance of the highway with the minimum of the cost. In the use of the highway pavement asset evaluation system, to maintain the appropriate level of the pavement evaluation index, when the budget was efficiently established in the reference of the required maintenance budget for the chosen section of the highway in the year concerned, it was possible to analyze the most rational pavement maintenance budget. With this result, it is estimated to prevent the unnecessary waste of budget in advance, and through the development of the decision-making system for the long-term performance presumption and the asset value estimation of the pavement, it is expected to able to analyze the previous evaluation of the project related to the highway and the feasibility of introduction.