• Korean Journal of Construction Engineering and Management
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• v.7 no.4 s.32
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• pp.177-183
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• 2006

Risk-based estimation has been successfully introduced into the construction industry. By incorporating historical data associated with probability analysis, risk-based estimate is an effective decision support aid in considering whether to launch a particular project. The industry challenges, however, especially related with management issues, such as labor shortage, wage growth, and supply chain complexity, have often resulted in poor cost performance. The insufficient assessing the project characteristics (i.e., resource availability, project complexity, and project delivery method) can be the main reasons in the poor cost performance. Because the accuracy level of cost performance prediction can be enhanced by extensive evaluation of the subject project characteristics, a new approach for predicting cost performance in an earlier stage of a project can improve the Industry substantiality, in other words, value maximization. The purpose of this paper is to develop a new methodology in developing a risk-based estimate tool by incorporating extensive project characteristics. To do this, an extensive industry survey was conducted from both private and public sectors in building industry in Korea. In addition, significant project characteristics were identified in terms of cost performance indicator. Although the data collection is limited to Korean industry the suggested approach provides the industry with a straightforward methodology in risk management. As many researchers maintained that front-end planning efforts are crucial in achieving the successful outcome in building projects, the new method for risk-based estimation can Improve the cost performance as well as enhance the fulfillment in terms of business sustainability.

• Journal of the Korea Institute of Building Construction
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• v.23 no.4
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• pp.497-508
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• 2023

Manual estimation of rebar quantities by contractors often yields discrepancies between projected and actual amounts used in the construction phase, leading to cost inaccuracies and potential logistical challenges. To address these issues, there is a clear need for a method that allows precise estimation of rebar quantities during the design phase. Such a method would enhance contractor competitiveness during project bids, promote accurate cost calculations, and avert superfluous rebar purchases on-site. Given that columns are the primary structural components in reinforced concrete(RC) buildings and necessitate considerable amounts of rebar, this study focuses on creating an automated algorithm for estimating column rebar quantities. An analysis of the accurate quantities obtained via the study and those derived from manual estimation reveals a discrepancy of 0.346 tons or 2.056%. This comparison affirms the proposed algorithm's efficacy in eliminating errors from overestimation or underestimation of rebar quantities. The practical implications of this study are significant for construction companies as it fosters efficient and precise estimation of rebar quantities, ensuring compliance with related specifications and governing regulations.

• Journal of the Korea Institute of Building Construction
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• v.15 no.3
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• pp.307-316
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• 2015

As there are a lot of differences in the public building construction cost depending on the construction scale of actual construction cost system, a lot of problems occur in the estimation of the cost. So, the development of a predictive model depending on the construction scale shall be used in a way that it is applied to the case selectively and differently. This study drew a cost estimating model through a regression analysis. For this, 42 construction sites which were ordered during 2011 to 2012 by Public Procurement Service data were selected as a historical data. Based on the application of the model to new construction and the verification of its effect, the reasonable model for estimating the construction cost has been suggested.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• 2008.11a
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• pp.212-215
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• 2008

When managers predict 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 present of public construction cost estimation and management almost after the construction documents design phase. Therefore, construction cost management in the early stage and schematic design phase to generally use approximate estimating is not correct. Accordingly, this study analyze problem of current cost estimating method and a concrete cost plans make using case information of actual cost to analyze in schematic design phase. Possible to check going on the suitable design, this study conducts the preliminary research for the development of cost estimating model.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.40 no.5
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• pp.527-534
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• 2020

A significant factor in construction work is cost. At early- and advanced-stage design, costs should be calculated to derive realistic cost estimates according to unit price calculation. Based on these estimates, the economic feasibility of construction work is assessed, and whether to proceed is determined. Through the Korea Institute of Civil Engineering and Building Technology, the construction cost index has been calculated by indirect methods after both the producer price index and construction market labor have been reprocessed to easily adjust the price changes of construction costs in Korea, and the Institute has announced it since 2004. As of January 2000, however, the construction cost index was released, and this has a time constraint on the correction and use of past construction cost data to the present moment. Variables were calculated to compute a rough construction cost that utilized past construction costs through surveys of the producer price index and the construction market labor force consisting of the construction cost index. After significant independent variables among the many variables were selected through correlation analysis, the construction cost index from 1970 to 1999 was calculated and presented through multiple regression analysis. This study therefore has prominent significance in terms of proposing a method of calculating rough construction costs that utilize construction costs that pre-date the 2000s.

• Proceedings of the Korean Institute of Building Construction Conference
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• 2009.11a
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• pp.261-264
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• 2009

Construction projects are managed by focusing on the results of projects. Moreover, cost and schedule are managed separately even though the efficiency of integrated management is very high. This paper proposes existing and progress control research of existing quantity the integrated information uses WBS-CBS. Schedule and cost are most important in construction projects. Specially, progress and cost are relationship of the managing integrated in many construction management. The quantity of materials for the works of construction is the base to create activities and a network. The quantity of materials of materials for the elemens of a building is a base of cost estimation and resource. allocation. This study suggest method for relating the schedule and cost information through the case study of construction field engineers.

• Proceedings of the Korean Institute of Building Construction Conference
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• 2021.05a
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• pp.315-316
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• 2021

The proportion of maintenance work has been increasing due to the recent aging of the infrastructure, but the standardized construction cost estimation standards are insufficient for this. In particular, reinforced concrete structures are being applied to many structures such as buildings and bridges, and various construction methods for maintenance of reinforced concrete structures are being developed and applied. In this study, we surveyed about the current status of the construction method for the maintenance work of reinforced concrete structures and analyze the factors of the revision of the construction cost estimate standard for the reinforced concrete structure maintenance.

• Journal of the Korea Institute of Building Construction
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• v.11 no.6
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• pp.597-608
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• 2011

It has been often noted as a problem that as there are no objective and clear criteria for the repair cost estimate of persistent defects, when a claim arises in relation to an apartment construction, significantly different amounts of compensation may be given for similar defects based on the experience and tendencies of the construction experts asked to make a judgment. For this reason, this research aims to present defect managers with a more reasonable and objective estimation criteria and a system to determine the repair cost of defects based on an analysis of relevant factors. The research findings show that the historical cost system is applied first, and then a standard of estimation is used to estimate the cost for the items that are not included in the historical cost system. The criteria for the repair cost for each defect is as follows: the repair cost for defects arising from a regulation violation is determined by calculating the reconstruction cost of the parts in question after demolishing them; the repair cost for progressive defects is determined based on a contribution ratio proportional to the age of the building; the repair cost for repetitive defects is calculated by considering an alternative to maximize the intended function of the defective parts; and the repair cost for value depreciation defects is determined based on the ratio of the warranty period to the lapsed years. However, repair cost estimation for dual value depreciation defects should be studied in future research.

• Journal of the Korea Institute of Building Construction
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• v.5 no.1 s.15
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• pp.111-121
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• 2005

This study purposed to derive a model to estimate appropriate construction costs for the application of the estimation system based on historical construction data. For this purpose, it analyzed data ($1999\sim2004$) on the construction costs of reinforced concrete apartments (Long-Lamina-type apartments), which have been highly standardized and have a lot of relevant objective data using statistical analysis techniques and developed an estimation model.

• Korean Journal of Construction Engineering and Management
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• v.4 no.4 s.16
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• pp.220-226
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• 2003

The Residential Building Cost Index which presents price variation of construction resources required in a residential building project in single value, has been compiled to evaluate appropriate level of the price variation. This research reviewed the compilation methodology for Residential Building Cost Index based on comparative analysis on domestic statistics and proposed the Residential Building Cost Index through a variety of case studies. It would facilitate monitoring the price variation of a residential building cost and contributes to enhancing the applicability of construction cost data.