• Korean Journal of Construction Engineering and Management
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• v.17 no.3
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• pp.90-97
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• 2016

Since Korean construction firms have steadily advanced into the international market, small and medium construction companies (SMCCs) have also advanced in such market. SMCCs's recent trend have clearly shown the changes of contract types from single subcontractor projects to multiple general contracting projects. However, among those multiple projects performed by SMCCs, 1 out of 3 projects were deficit projects that impact the overall pe rformance of the firm. To increase such performance, risk management for in international construction must be managed at the enterprise level for SMCCs. This research aims to create a multiple project management model for SMCCS that employs the concept of acceptable risk to assess the limit risk level for corporation to acceptable. Using the accumulated data from previous survey and International Construction Association of Korea (ICAK), integrated risk of each firm and their profitability of each project are analyzed. Through the analysis, each firm's acceptable risk level is derived. Through the two research steps, acceptable risk algorithm was developed based on corporate integrated risk and profit correlation. To prove the acceptable algorithm relevance, financial statement analysis of 3 corporation was derived that level of acceptable risk and financial statement were available. Through the approach, this research allows the firms to analyze the firm's capability and find projects that suits the firm's situation and capability.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• 2008.11a
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• pp.591-596
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• 2008

Success or failure highly depends on delivery method in construction projects. This paper mainly focused on operation model for technical proposal in Large construction projects. This operational model uses Technical Proposal-Based Tender. This project studied order and delivery method in large construction projects. And delivery systems of international and domestic market are researched, and then condition of delivery system and problems are derived from them. Especially, it researched that it is hard to reflect special feature in large construction projects. As a result of having referenced idea as describe above, this paper will be studied by this process. First, definition of delivery method and large construction projects is researched. Second, delivery systems of international and domestic market are checked. Third, problems and condition of delivery system in large construction projects are investigated. Fourth, application of operation model for technical proposal-based tender are presented in large construction projects.

• International conference on construction engineering and project management
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• 2005.10a
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• pp.744-747
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• 2005

The AEC (Architecture/Engineering/Construction) industry is facing a competitive world after it entered into the 21^st century. Due to improper planning and scheduling, the construction projects face severe delays in completion. Most of the present day construction organisations operate in multiple project environments where more than one projects are to be managed simultaneously. But the advantages of planning and scheduling as multiple projects have not been utilized by these organisations. Change in multi-project planning and scheduling is inevitable and often frequent, therefore the traditional planning and scheduling approaches are no more feasible in scheduling multiple construction projects. The traditional scheduling tools like CPM and PERT do not offer any help in scheduling in a resource-constrained environment. This necessitated a detailed study to model the environment realistically and to make the allocation of limited resources flexible and efficient. This paper delineates about the proactive model which will help the project managers for scheduling the multiple construction projects.

• International conference on construction engineering and project management
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• 2011.02a
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• pp.162-167
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• 2011

Construction projects are full of risks. This is particularly the case in civil construction projects that are often featured with large scale, complexity and involving a large number of participating parties. The eventuation of risks typically results in extended project durations leading to an increase in the total project budget. The consequence can be amplified considering the significant impacts of civil construction projects on the society, from economical, environmental and social perspectives. This research investigates the significance of risks within civil construction projects and approaches to deal with risks. Semi-structured interviews were undertaken with local industry practitioners in South Australia on this matter. It is found that the industry is fairly aware of risks associated with civil construction projects and subsequently has procedures in place to attempt to minimize the impacts of these risks on the project outcomes. The interview results also indicate that there is limited utilization of software for the risk management purpose from the cost estimation perspective.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.26 no.4D
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• pp.635-647
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• 2006

Korean construction companies first advanced to the international markets in 1960's and so far have brought more than 4,900 projects which account for 193 billion dollars approximately. With the large increase of national employment and income being followed by the achievement, Korea's construction industry has made an enormous contribution to the improvement of domestic economy for the last 40 years. However, recently the increased risk in international markets as well as the sharpening competition with foreign companies promising in terms of advanced technologies and low labor cost have been driving Korean construction away from the market shares. According to ENR (Engineering News Record, 1994~2003), it is revealed that 15.1% of top 225 global contractors are suffering from loss in international construction markets. This phenomenon is largely due to the highly uncertain characteristics of international projects, which are inherently exposed to various and complicated risky situations. Furthermore, especially for Korean construction companies, it is often the case that the failure in an international construction project cannot be offset by even a sufficient number of successful domestic achievements. Therefore, not only the selective screening among the nominated projects which have strong possibility of collapse but the systematic strategies for controlling potential risk factors are also considered indispensable in international construction portfolio management. The purpose of this study is to first analyze the causal relationships of the profit-influencing variables and the project success, and develop the profitability forecasting model in international construction projects.

• International conference on construction engineering and project management
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• 2015.10a
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• pp.70-71
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• 2015

Cost management always being the matters for project manager as well as other entities involved the construction projects. Vietnam is emerging country, many construction works were carried out and lot of construction projects will be developed in the near future with a huge investment capital come from outside and inside Vietnam. In recent years, international project management firms enter the Vietnam construction market, some issues emerged need to be solved. In which cost and schedule of the construction project was put in a thoroughly consider of not only project management team but also stakeholders. The research attempts to identify and assess the relationship of factors affecting the construction cost in construction phase in Ho Chi Minh City, Vietnam. Five main factor groups Owners/clients; Consultants; Contractors; Resource and Other were identified to propose the solution for cost management.

• International conference on construction engineering and project management
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• 2007.03a
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• pp.820-829
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• 2007

This paper presents an evaluation of feasibility studies conducted to justify investments in infrastructure projects. An analysis of a previous feasibility study for a highway construction project is presented in this paper with an emphasis on the estimates and forecasts presented in that study in order to weigh expected benefits from the project against expected costs. The forecasted numbers are compared with actual data collected during the operation phase about the usage of the facility. The comparison reveals a huge difference between estimated numbers and actual numbers. Based on the lessons learned from the analyzed case study, recommendations are presented to improve feasibility studies for infrastructure projects including: peer review of feasibility studies; before-and-after feasibility studies; and defined scope and methodology for feasibility studies. Decision makers are advised to take outcomes of feasibility studies for infrastructure projects with extreme caution as some studies may provide erroneous and misleading input to their decisions regarding investment in infrastructure projects.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• 2007.11a
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• pp.3-8
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• 2007

"The world is flat" as the popular author Thomas L. Friedman declares in his best belling book about the progress of business globalization in the $21^{st}$ century [3]. Construction projects and related businesses have been global since the 1800's, but it has never seen such rapid transformation in both scope and depth as in the past decade. Construction projects today often bring together international design talents, construction management firms, local and international labor forces, and global suppliers. On a visit to Dubai in the United Arab Emirates on the Persian Gulf, a person will experience the complexity of globalization of modern construction projects- with Arab owners, European engineering and design companies, American construction management teams, Korean general contractors, Jordanian subcontractors, and labor forces from Thailand, Indonesia, Turkey, and Sri Lanka. A count of material suppliers reveals over 60 countries involved, covering all continents. Indeed construction projects are getting more and more complex and competitive, as is the project execution. The trend toward globalization poses both challenges and opportunities to construction and engineering companies competing on a global scale. While global competition may be a threat to many companies, there are, however, many opportunities for synergistic collaborations that can create win-win scenarios for construction business, research, and education. This paper presents some of the opportunities between the U.S. and Asia in business integration, research collaboration on technologies, and educational development, which may mutually benefit countries on either side of the Pacific.

• International conference on construction engineering and project management
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• 2011.02a
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• pp.504-509
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• 2011

Recently, construction projects are very complicated and diverse such as high-rise buildings and big bridges, etc. These complicated projects call for a system which can effectively generate productive ideas and activities. Value Engineering (V.E.) activity within construction projects is a necessity for systematic design management and to improve construction ability. This need in the construction industry has required a regular implementation of VE into construction projects. For this reason; America, South Korea, and some other nations have adopted VE applications which control the baseline investments of the construction projects. The process of VE activity is a preferred system and a reasonable alternative. In particular, idea generation within these projects is an important stage in the VE job plan. In this study, VE idea patterns are extracted through best practice analysis from VE cases of road construction projects. Next, we suggest an idea hierarchy model to be used in conjunction with VE idea patterns. This model is supported by reasonable idea generation in VE activity of construction projects. Finally, this model could possibly be the outcome of successful VE results.

• International conference on construction engineering and project management
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• 2011.02a
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• pp.195-200
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• 2011

Construction materials usually constitute a major portion of the total cost in a building construction project. Despite the potential benefit of ICT, convincing construction organisations to embrace its use and implementation has proved a difficult task. This study seeks to identify the implementation of ICT for materials management processes in construction projects. The findings from the interviews reveal that the implementation of ICT in the materials management processes for construction projects in Malaysia is at early stage. Microsoft Excel Spreadsheet and handheld devices are found to be the common ICT tools adopted in the materials management processes. The main barrier is found to be the cost involvement at the initial stage or overall implementation of ICT in the materials management processes. Finally, this paper concludes the finding from interviews towards the ICT implementation of materials management in the construction projects.