• Title/Summary/Keyword: Project Cost Performance

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ROADWAY PERFORMANCE EVALUATION USING FUNCTION ANALYSIS METHOD OF VALUE ENGINEERING

  • Jong-Hyun Park;Yong-Jang Lee;In-Su Jung;Chan-Sik Lee
    • International conference on construction engineering and project management
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    • 2009.05a
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    • pp.1528-1533
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    • 2009
  • Infrastructure is provided to the user through long-term project period and large-scale working expenses. Existing facilities are getting old as time goes by. Accordingly, proper maintenance is required and generally more maintenance cost than initial invested cost is needed during life cycle. Therefore, a specific plan that just increases the value of facilities is required by evaluating performance of facilities and inputting minimum maintenance cost. Value engineering that increases the value of object by systemically analyzing Life Cycle Costs and function is actively promoted at the design phase of construction. These efforts can increase the performance of facilities at the maintenance phase of infrastructure. This study is to search how to evaluate the performance of Roadway by utilizing function analysis, as a core part of VE in the maintenance phase. In order to this a new evaluation criteria were proposed by adding an evaluation items to the existing criteria through the research of old documents, status of roadway maintenance and function analysis of VE. The results of this study may promote the effective performance evaluation to determine a resolution of roadway congestion in future. A succeeding study using the proposed evaluation criteria will be required.

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Development of Evaluation Methodology on the Performance of BTL Sewer Rehabilitation Projects (하수관거정비 BTL사업의 효과분석 및 방안 수립 연구)

  • Song, Ho-Myeon;Cho, Jeong-Il;Ahn, Choong-Hee
    • Journal of Korean Society of Water and Wastewater
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    • v.24 no.6
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    • pp.743-751
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    • 2010
  • It requires an interim performance assessment for BTL business of the sewerage rehabilitation which continues from 2005 till now. Means, It is necessary to make an interim performance assessment and an analysis of an business effect of the sewerage rehabilitation BTL projects which still continues, and we presented an improvement method of the new sewerage rehabilitation project in future. This paper has conducted an analysis of the business effect for 3 local government BTL projects which are completed and under operation as of now in Jincheon-Gun, Cheongju-Si and Gangjin-Gun. As a method of business effect analysis, we conducted a business effect of the 3 places using the index set which we previously set for the business effect analysis. The index set in this research was sectionalized to an improvement effect of operating wastewater treatment plant, an benefit effect of the direct cost, an benefit effect of the indirect cost and an environment friendly effect. We, in this paper, conducted an business effect analysis for 3 sewerage rehabilitation BTL projects which are completed or under operation recently as a demonstration, however we judge that an business effect analysis shall be conducted in a stage that a significant time for operation has passed since the completion of the construction in order to induce an actual business effect of the sewerage rehabilitation BTL project.

Developing Measurement System for Key Performance Indicators on Building Construction Projects (건설 프로젝트 효율적 성과관리를 위한 핵심 지표 체계 구축)

  • Cha, Hee-Sung;Kim, Tae-Kyoung
    • Korean Journal of Construction Engineering and Management
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    • v.9 no.4
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    • pp.120-130
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    • 2008
  • In construction industry, project performance should be evaluated in terms of project value objectives, i.e., cost, time, quality, safety, and environment. However, there have been few, if any, systematic approaches in assessing comprehensive performance level which encompasses the whole spectrum of project value objectives. It is non trivial to establish the standardized performance metric system due to the project individualities. This study provides a new approach in assessing the wide variety of project performance types by collecting the real industry project data. In addition, the proposed system has been validated through industry survey on project practitioners. It is concluded that the developed quantitative project performance measurement system would be effectively useful in indicating the level of current status of a particular project and furthermore, to provide a meaningful strategy for the future project in a more sustainable way.

Generation of Pareto Sets based on Resource Reduction for Multi-Objective Problems Involving Project Scheduling and Resource Leveling (프로젝트 일정과 자원 평준화를 포함한 다목적 최적화 문제에서 순차적 자원 감소에 기반한 파레토 집합의 생성)

  • Jeong, Woo-Jin;Park, Sung-Chul;Yim, Dong-Soon
    • Journal of Korean Society of Industrial and Systems Engineering
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    • v.43 no.2
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    • pp.79-86
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    • 2020
  • To make a satisfactory decision regarding project scheduling, a trade-off between the resource-related cost and project duration must be considered. A beneficial method for decision makers is to provide a number of alternative schedules of diverse project duration with minimum resource cost. In view of optimization, the alternative schedules are Pareto sets under multi-objective of project duration and resource cost. Assuming that resource cost is closely related to resource leveling, a heuristic algorithm for resource capacity reduction (HRCR) is developed in this study in order to generate the Pareto sets efficiently. The heuristic is based on the fact that resource leveling can be improved by systematically reducing the resource capacity. Once the reduced resource capacity is given, a schedule with minimum project duration can be obtained by solving a resource-constrained project scheduling problem. In HRCR, VNS (Variable Neighborhood Search) is implemented to solve the resource-constrained project scheduling problem. Extensive experiments to evaluate the HRCR performance are accomplished with standard benchmarking data sets, PSPLIB. Considering 5 resource leveling objective functions, it is shown that HRCR outperforms well-known multi-objective optimization algorithm, SPEA2 (Strength Pareto Evolutionary Algorithm-2), in generating dominant Pareto sets. The number of approximate Pareto optimal also can be extended by modifying weight parameter to reduce resource capacity in HRCR.

Analysis on Performance Assessment Framework of Construction Phase for Road Construction Projects (도로건설사업 시공단계 성과평가 프레임워크 연구)

  • Mun, Junbu;Lee, Kangwook;Yun, Sungmin
    • KSCE Journal of Civil and Environmental Engineering Research
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    • v.43 no.6
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    • pp.801-809
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    • 2023
  • Road construction projects have a long duration so cost overruns and schedule delays are occurred. However, performance assessment system that can manage and prepare for this in advance is insufficient. In addition, road construction are affected by many factors during under construction. Therefore it is necessary to conduct performance assessment considering the characteristics of roads and prepare for similar projects in the future. The purpose of this study is to provide a framework to evaluate construction phase performance and present a performance management plan using road construction information. Also, This study conducted time adjustment between the start and the finish of the project and developed performance metrics based on absolute and relative indicator. This study analyzed the cost, schedule, and changes of the road project construction process, showing the possibility of advancement of performance assessment and how to use it when planning new road construction projects.

SEOUL TOLL PLAZA VALUE ENGINEERING STUDY CONSIDERING PERFORMANCE MEASUREMENT AND LIFE-CYCLE COSTS

  • Jong-Kwon Lim;Min-Jae Lee ;George Hunter;Sung-il Kim
    • International conference on construction engineering and project management
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    • 2005.10a
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    • pp.621-626
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    • 2005
  • Recent increases in construction costs on Korean public works projects, largely due to change orders caused by poorly elaborated design, become a motivation of applying VE process in Korean construction industry. The Seoul Toll Plaza project, recently value analyzed by four VE teams, demonstrates how value management helps save time, money and increase functional performance. The objective of this project is to upgrade and expand existing pay and ticket booths system on "Kyungboo Express Highway", the main artery for the Korean peninsula linking Seoul to Pusan. The value management study generated several innovate alternatives capable of saving up to 50% of project cost from the baseline project plan.

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PROJECT COMPLEXITY AS A MODERATOR OF PERFORMANCE BIAS TOWARDS OVERRUN

  • Li liu;Andrew Nguyen;James Arvanitakis
    • International conference on construction engineering and project management
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    • 2011.02a
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    • pp.38-45
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    • 2011
  • Studies have shown that infrastructure projects have continued to experience significant delays and cost overrun over an extended period of time and no evidence of learning ever have happened [1] [2]. Various causes contribute to the bias towards overrun [3]. This study contributes to literature by developing and subsequently validating a set of hypothesized relationships between project complexity and project performance. The results show that project complexity is associated with both the magnitude and variance of overrun. Further, the extent and magnitude of the positive bias towards overrun are moderated by project complexity.

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Development of 3 layer EVM(Earned Value Management) Guideline for XP(eXtreme programming) based on CMMI (CMMI기반의 XP를 위한 3단계 EVM 적용 지침 개발)

  • Jeong, Mi-Seo;Han, Hyuk-Soo
    • Journal of Internet Computing and Services
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    • v.9 no.6
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    • pp.155-163
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    • 2008
  • Project Monitoring and Control is one of the required activities in project management. This activity provides the information about whether a project is making a progress as it is planned. It is usually performed in weekly meetings or milestone meetings where the project manager checks the project's current status based on project measures such as schedule, cost and work performance. One of the popular method for project monitoring and control is EVM(Earned Value Management). The major characteristic of EVM is that it uses only one measure 'cost' for schedule and work performance so that it enables 2 independent graphs to be illustrated in one integrated graph based on cost. For applying EVM to a project, it is essential to break whole work to work packages and to assign value of cost to each work package at the initial stage of the project. Therefore EVM is well matched with the lifecycle which requires whole plan at the beginning of project. However, in XP(eXtreme Programming), whole customer requirements are difficult to define and to make a complete plan at the beginning and are more detailed in each Iteration. Therefore EVM is not comfortable method for XP. Therefore in this research we suggest 3 layer EVM which can be applied in XP, and develop a process guidelines based on CMMI(Capability Maturity Model Integration) PMC(Project Monitoring and Control) process area.

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Efficient Application of Multi-Trade Contract Method to Public Construction Project (공공건설사업 직할시공제 적용의 문제점 및 효율적 적용 방안)

  • Chang, Chul-Ki
    • Korean Journal of Construction Engineering and Management
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    • v.14 no.2
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    • pp.35-44
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    • 2013
  • Multi-trade Contract Method was introduced as a means of cutting down construction cost of public housing for low income people. Before a specific project delivery method is applied to large public construction project, it is necessary to discuss all the issues raised up from all the parties in construction industry and all the issues which can impact project performance. Thus the interviews were conducted with industrial professionals from diverse organizations and previous studies were investigated to figure out how this newly introduced project delivery method may impact owner's role and responsibility and project performance in terms of cost, schedule, quality and risk. Under the Multi-trade Contract Method, project owner's management tasks will be highly increased, so it should be checked out if the owner can do its role and responsibility. Public owner's organization also needs to be changed and proper project management procedure and system need to be established. In addition, for efficient application of Multi-trade Contract Method, public owner should consider diverse management approach to deliver the project, and how to select and maintain qualified specialty trades.

A Study on Optimal Lead Time Selection Measures of the Construction Materials (건설자재의 적정 리드타임 산정에 관한 연구)

  • Lee, Sang-Beom
    • Journal of the Korea Institute of Building Construction
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    • v.4 no.1
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    • pp.105-110
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    • 2004
  • Resource procurement is an important management area because cost of resource covers 40% of total construction project cost and resource delivery has direct relationship with project performance. Integration of cost provides various potentials for effective and efficient project control. This study investigates the usefulness of time in resource procurement management focused on materials. These days, construction projects have characterized manufacture because of industrialization and component. Therefore, application of systematic resource planning has been requested in the construction. There are many companies conducting procurement of resource on the web by applying MRP, ERP etc. in the construction. However, in applying them in the construction yet, there is obstruction. MRP has the character doing its function under accurate cost prediction of resource. But prediction of resource is difficult in industry mechanism of the construction. If accurate cost prediction of resource is possible in the construction, it will be expected to reduce cost of procurement of resource substantially by applying successful resource planning model in the manufacture. On the basis of recent current, the purpose of study is to present procurement of resource system that period observance of construction and minimization of stock is possible by reflecting accurate lead-time to apply proactive thought to be able to cope with alteration of construction schedule efficiently in analyzing resource planning of the construction site.