• International conference on construction engineering and project management
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• 2007.03a
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• pp.711-720
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• 2007

Apartment housing in the Korean domestic construction industry has had various and high-quality finishing work since the enforcement of price deregulation in 1998. Before the enforcement of price deregulation, feasibility studies of housing projects have not had particular difficulties as uniform description of finishing work items were reflected and finishing work cost also was equalized. However, the recent distinction of finishing work based on the same floor plan brings about project cost variation, along with many effects on construction management due to project cost increment. Accordingly, this paper suggests the improved plan of cost management to control the feasibility study result consistently during the life cycle of a project through an analysis based on cost management phase due to cost blackout, appearing at the commencement of a project, cost gradation caused by high-quality finishing work item, and cost reduction due to the degradation of finishing work after analysis of current apartment construction process focused on finishing work using the IDEF process analysis technique.

• International conference on construction engineering and project management
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• 2009.05a
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• pp.1170-1175
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• 2009

When managers estimate exact construction cost at early stage and design phase, they can reduce construction cost in a more efficient way than to predict at construction stage. But, the current of public construction cost estimation and management is concentrated almost after detailed design phase. Therefore, construction cost management in design development phase to generally use approximate estimating is not correct. Also, the existing construction cost used the method that estimated by gross floor area-based cost estimates at design development phase. So, it is difficult to show the specific amount of materials and basis about the estimated cost of the construction. This study derived problems and limits of construction management at design development phase in case of public office building project through review of literature and current survey, and suggested estimating process model process of structural construction cost go improve these matters.

• Journal of Korean Society for Quality Management
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• v.33 no.3
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• pp.135-148
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• 2005

This paper considers a six sigma project for reducing the project costs through project risk management. The project follows a disciplined process of five phases: define, measure, analyze, improve, and control. A risk management process map is used to identify process input and output variables. Seven key process input variables are selected by using C&E diagram and X-Y matrix and finally four vital few input variables are selected by the related statistical analysis. The optimum alternatives of the vital few input variables are obtained by the method of PUGH matrix. The process is running on control plan and we obtained substantial project cost reductions in early stage of the control phase.

• Journal of the Korea Institute of Military Science and Technology
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• v.10 no.3
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• pp.100-108
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• 2007

The purpose of the research is to propose an integrated project planning process and its implementation method. Although there is increasing interest in the application of the Earned Value Management(EVM) method in the project management area, the progress and maturity of the technical performance have not been included in assessing the Earned Value. The main concept of the planning process is to use cost, schedule, as well as the technical performance in the assessment of the Earned Value Management for Military R&D project management practices. The resulting process can enhance the efficiency of the project work by eliminating the currently duplicated activities between traditional project planning process and the newly implemented Earned Value Management process and by shortening the early planning process duration of projects adopting EVM practices.

• International conference on construction engineering and project management
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• 2022.06a
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• pp.1106-1113
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• 2022

Cost segregation helps reduce tax liabilities by reclassifying real property to personal property and accelerates tax depreciation of a property. A typical cost segregation study requires much time and high costs. This study proposed a BIM integrated cost segregation process that can be applied to any commercial building project. The proposed BIM-based cost segregation process was verified in a new commercial construction project. It approved that this approach can: (1) increase the cash flow for the owner and provide assistance to tax-paying enterprises; (2) enable the contractor to use it as an added value in the bidding process; (3) realize data sharing in a common platform to improve the cost segregation study efficiency and reduce costs and errors; (4) contribute to the asset management in the life cycle of buildings while filling in the blank of cost segregation process. Future studies will focus on the automation of cost segregation and asset management in building construction's life cycle.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.44 no.4
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• pp.76-84
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• 2021

Military aircraft R&D projects require large-scale investment in cost and time, and involve a complex coordination process in decision-making. The R&D project manager should determine the development management priorities as accurately as possible and focus on R&D capabilities, thereby reducing the risks of the aircraft R&D project. To this end, this study aims to reduce R&D risk by prioritizing cost, schedule, and performance, which are basic management factors used in R&D project management in defense project management regulations. Analytic Hierarchy Process (AHP) is applied using a questionnaire for managers in charge of aviation R&D under the Defense Acquisition Program Administration. As a primary result, the importance of the factors that the aircraft R&D project manager should consider was derived in the order of performance, cost, and schedule, and the priorities of performance and cost in the lower layer were also identified. In addition, in order to provide practical risk management measures to aircraft R&D project managers, the results of analyzing 28 cases of US National Transportation Safety Board accidents were compared and analyzed with the AHP analysis results, and management measures suitable for the situation were specified.

• Korean Journal of Construction Engineering and Management
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• v.21 no.2
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• pp.30-38
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• 2020

Inadequate cost management has widely been recognized as one of the most problematic areas in the Korean construction industry as many believes that public cost references are not reasonably reflecting the market conditions. 'Total Project Cost Management Guideline' developed by Ministry of Economy and Finance(MOEF) to govern public budget control has been identified as one of the main reasons for this problem. This study attempts to thoroughly review 'Total Project Cost Management Guideline' itself and quantitatively analyze the impact of it on project cost during procurement process. Different procurement methods are considered including turnkey & alternative, private contract, qualification examination, and lowest price bidding system in this quantitative impact analysis of 'Total Project Cost Management Guideline'. Analysis results shows that this governmental process works mainly as a constant cost-cutting tool throughout the procurement process.

• Journal of Construction Engineering and Project Management
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• v.10 no.1
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• pp.16-32
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• 2020

Cost and time control of projects is important in preventing project failure. However, achieving effective cost and time control in practice is often challenging. The challenges of project cost and time control in practice are investigated by carrying out a questionnaire survey on the top 150 construction contractors in the UK followed by in-depth semi-structured interviews of practitioners from 15 construction companies in the country. Quantitative analysis reveals that design change is the most important factor inhibiting the ability of UK contractors from effectively controlling both the cost and time of construction projects. Four of the top five factors inhibiting effective cost control are also the top factors inhibiting effective time control albeit in a different order. These top factors-design changes, inaccurate evaluation of project time/duration, risk and uncertainty, non-performance of subcontractors and nominated suppliers were also found to be endogenous factors to the project. Additionally, qualitative analysis of the interviews reveals 16 key challenges to prevent for effective project cost and time control in practice. These are classified into four categorised based on where they stem from as follows; from the organisation (1. Lack of integration of cost and time during project control, 2. lack of management buy-in, 3. complicated project control systems and processes, 4. lack of a project control training regime); from the construction management/project management approach (5. Lapses in integration of interfaces, 6. project control not being implemented from the early stages of a project, 7. inefficient utilisation and control of labour, 8. limited time devoted to planning how a project will be controlled at the outset); from the client; (9. Excessive authorisation gates, 10. use of adversarial and non-collaborative forms of contracts, 11. communication problems within client set-up, 12. obstructive client representatives) and; from the project team (13. Lack of detailed/complete design, 14. lack of trust among the project partners, 15. limited time devoted to project control on site, 16. non-factual reporting). The study posits that knowledge of these project control inhibiting factors and challenges is the first step at ensuring they are avoided and enable the implementation of a more effective project cost and time control process in practice.

• Journal of KIBIM
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• v.11 no.2
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• pp.1-16
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• 2021

Since entering the 21st century, the construction industry has developed faster and faster, and more and more technologies have been applied in the construction industry. BIM technology (Building Information Modeling) was born in this environment. The application of BIM technology can greatly improve the efficiency of cost management and help achieve the goal of cost management. But through BIM to realize project cost management, there is still no good solution. In order to solve this problem, this paper puts forward the concept of WBS structure applied to construction projects by studying the BoQ (Bill of Quantities) list based on BIM, and proposes the numbering method of the structure. The WBS (Work Breakdown Structure) structure proposed in this paper divides more than 5000 cost objects into 133 projects according to the type of work and project schedule. This structure helps to realize the application of BIM in project cost management. Although this article has studied more than 5000 data of three projects, it does not think that it can cover all cost objects in the existing construction industry. The purpose of this article is to propose a solution for cost and Process Control using BIM-based BoQ data.

• Journal of the Korea Safety Management & Science
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• v.11 no.1
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• pp.121-130
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• 2009

This paper considers a six sigma project for reducing the cost copper of the cable materials in a electric wire company. The project follows a disciplined process of five macro phases: define, measure, analyze, improve, and control (DMAIC). A process map is used to identify process input variables. Three key process input variables are selected by using an input variables are selected by using an input variable evaluation table: large cable, plating, and a twisted pair. DOE is utilized for finding the optimal process conditions of the three key process input variables. The implementing result of this six sigma project is enable for reducing of the 2.8% copper materials.