• Korean Journal of Construction Engineering and Management
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• v.6 no.6 s.28
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• pp.171-180
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• 2005

Public rental housing is constructed, owned, and managed by the public sector. The public institution for the public rental housing controls the whole building life cycle from the construction to the demolition. The construction company for the house built for sale is strongly interested in the cost for the initial investment, while the public institution is more focused on the maintenance cost for the preservation of the buildings Nevertheless, the maintenance cost of the public rental housing has been only managed as the accounting factor without the systemic research and analysis on the actual condition. This paper shows how expenses are related to the degree of obsolescence and presents the differences of the maintenance costs by the housing area and expenditure trends (vs time) of the maintenance costs, through analyzing time series data of public rental housing maintenance cost. Further, this paper helps understanding the causes of the differences of the maintenance costs by housing areas and characteristics of the expenditure trends. After all, this paper contributes to the improvement of the reliability and the practicality for the Life Cycle Cost modeling and the maintenance cost estimating.

• Korean Journal of Construction Engineering and Management
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• v.13 no.5
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• pp.103-112
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• 2012

Republic of Korea is recently becoming an advanced country with increasing standard of living. This is causing a lack of employment in the construction industry because of high labor costs and it is resulting rapid increase in foreign labors. Modular Method of Construction can be defined as 50%~90% of the entire process is completed in factory, and transferred to construction field to install. The main purpose of this process is to minimize the entire process that possibly can be done at construction field in order to maximize the quality. The current local usage of Modular Method of Construction started at Shin Ki Elementary School during 2003 and it is widely used for military facilities. It should be used more because it has strengths of spending short time period to complete and low production costs. It can make a change if Modular Method of Construction is applied. Toyota is currently producing vehicle with conveyor system and if Modular Method of Construction is applied, then it is possible to reduce the waste of labor, and automatic production time. Expansion of the modular Market can be expected by applying this method because it will improve producing costs, high quality, and enforced process. This research tried to solve the problem of factory's manufacturing production by applying local Modular Method of Construction to provide suggestions and analyze the profitability with applied conveyor system. It is depending on produced model, but this research's model will take 20 months including assessment of payback period.

• Journal of KIBIM
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• v.7 no.3
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• pp.40-48
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• 2017

It only takes one failed project to wipe out an entire year's profit, when the projects are not managed efficiently. Additionally, escalating costs of materials and a competitive local construction market make subcontractors a challenge. Subcontractors have finite resources that should be allocated simultaneously across many projects in a dynamic manner. Significant scheduling problems are posed by concurrent multi-projects with limited resources. The objective of this thesis is to identify the effect of productivity changes on the total cost resulting from shifting crews across projects using a descriptive model. To effectively achieve the objective, this study has developed a descriptive cost model for a subcontractor with multi-resources and multi-projects. The model was designed for a subcontractor to use as a decision-making tool for resources allocation and scheduling. The model identified several factors affecting productivity. Moreover, when the model was tested using hypothetical data, it produced some effective combinations of resource allocation with associated total costs. Furthermore, a subcontractor minimizes total costs by balancing overtime costs, tardiness penalties, and incentive bonus, while satisfying available processing time constraints.

• The Journal of Fisheries Business Administration
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• v.39 no.1
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• pp.63-85
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• 2008

The objective of this study is to review the methodology of economic analysis of fishing ports by examining the economical feasibilities of a national fishing port (Jeongja Port) in Ulsan. This study utilized market value evaluation method to measure the benefits and costs related to the development of ports. The benefit variables are income effects resulting from the developments while the cost variables are sum of construction costs and maintenance costs. The income effects are measured in two ways: (1) income from individual project resulting from the developments, (2) the income effects by utilizing investment multipliers. The results shows that the BC ratio (Benefits/Costs) of Jeongja port by using (1) income from individual project resulting from the developments was 1.07 while the BC ratio by using (2) the income effects by utilizing investment multipliers was 1.10 due to a relative short period of useful life for investment multipliers. However, the income variable utilizing investment multipliers is more sensitive to the period of duration than the income variable from individual project.

• The Transactions of The Korean Institute of Electrical Engineers
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• v.57 no.9
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• pp.1531-1535
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• 2008

In the past vertically integrated power system, the power utility forecasted power demand and invested new power plants to keep a system adequacy. However, in the competitive electricity markets, a principle part of the capacity investment is market participants who decided the investment to maximize their profit. Especially, one of the main factors in their long-term decision making is the retrieval of fixed costs (construction costs). This paper presents the capacity payment in electricity power markets. The capacity payment (CP) in Cost Based Pool (CBP) is needed to recover fixed costs. However, CP in CBP was applied not only recovering fixed costs but also ensuring supply reliability. In order to operate harmonious power markets, pool needs reasonable CP mechanism. This paper analysis CP using capacity proportion and Reliability Pricing Model (RPM).

• Proceedings of the Computational Structural Engineering Institute Conference
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• 1998.10a
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• pp.151-158
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• 1998

This paper presents an optimal decision model for minimizing the life-cycle cost of steel box girder bridges. The point is that it takes into account service life process as a whole, and the life-cycle costs include initial (design, testing, and construction) costs, maintenance costs and expected failure costs. The problem is formulated as that of minimization of expected total life-cycle cost with respect to the design variables. The optimal solution identifies those values of the decision variables that result in minimum expected total cost. The performance constraints in the form of flexural failure and shear failure are those specified in the design code. Based on extensive numerical investigations, it may be positively stated that the optimum design of steel box girder bridges based on life-cycle cost approach proposed in this study provides a lot more rational and economical design, and thus the proposed approach will propose the development of new concepts and design methodologies that may have important implications in the next generation performance-based design codes and standards.

• Journal of the Korean Institute of Educational Facilities
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• v.23 no.6
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• pp.27-34
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• 2016

Although the scale and number of university facilities have increased, the maintenance of these facilities has not been efficient as maintenance costs incurred during facility operation periods, as well as management time, have not been sufficiently considered. In this study, the maintenance record data of national universities was compared and analyzed to analyze factors that incur maintenance costs according to the uses and costs of the facilities. According to the results, the number of cases of maintenance and repair work for basic educational facilities was shown to be the largest, accounting for 79%. The number of maintenance and repair work occurred according to work type was examined. According to the results, the highest ratio of maintenance and repair work occurred in the field of construction, specifically, the maintenance costs required for facility supplementation accounted for the highest ratio. Maintenance costs per unit area decreased over time in the newer university facilities, while showing a tendency to increase in older university facilities. However, there were cases where maintenance costs did not show any trends due to factors such as the limited maintenance budgets owing to the characteristics of public service facilities and facilities in the stage of deterioration or destruction after the stage of stabilization. This study is considered to be helpful for efficient university facility maintenance plans and budget calculations.

• Proceedings of the Korean Institute of Building Construction Conference
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• 2018.05a
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• pp.298-299
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• 2018

The construction liability type CM has been introduced in the form of a pilot project through public institutions since 2017 since it was introduced in the term of construction responsibility type construction project management in the Basic Law of Construction Industry in 2011 with the aim of improving the constitution of the Korean construction industry and strengthening global competitiveness. Through the introduction of construction-responsible CM, the government intends to change the paradigm of the overall construction industry, including design and construction, construction costs, disputes between stakeholders, and transparency of business. In this regard, the study aims to compare and analyze the evaluation methods on the bidding guide that public institutions (LH) are currently using to select companies in order to lay the foundations for successful construction of construction-responsible CM ordering methods.

• Proceedings of the Korean Institute of Building Construction Conference
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• 2021.05a
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• pp.289-290
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• 2021

The PC system has advantages in terms of project management, such as shortening the construction period and reducing costs. However, it is difficult to activate the technology due to insufficient application of the technology. Therefore, there is a need for a strategy to expand and activate the PC system. This study is a basic research for PC construction project management, and its purpose is to derive the entire construction process from factory production of PC components to on-site construction. In this study, the construction process of the PC system was derived through literature review, and the main matters for the construction process management of PC system were confirmed in the analysis process. In the future, the results of this study are expected to be used as basic data for research for PC project management, such as deriving construction classification and calculating construction periods.

• Proceedings of the Korean Institute of Building Construction Conference
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• 2023.05a
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• pp.161-162
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• 2023

The construction inspection is conducted by the contractor or construction supervisor after a certain stage of work has been completed. As the consturction inspection task is dependant on construction schedule, however, it is difficult to plan inspection task systematically, resulting in increased supervision costs, delays in construction, and disputes. Therefore, this study aims to integrate inspection work with schedule management to systematize inspection procedures. Firstly, the inspection work is defined based on the construction supervision checklist. Then its relationship with the construction process, required time, and resources for inspection tasks are defined in construction schedule. Lastly, a process management program is used to assess the effects of applying the inspection work and examine changes in the overall construction period and process management. The proposed method in this study can support to plan construction inspection more systematically and to improve the effectiveness of construction quality management.