• International conference on construction engineering and project management
• /
• 2005.10a
• /
• pp.935-940
• /
• 2005

This paper presents the results of a statistical analysis using historical data of cost contingency. As a result, a model that predicts and estimates an accurate cost contingency value using the least squares estimation method was developed. Data such as original contract amounts, estimated contingency amounts set by maximum funding limits, and actual contingency amounts, were collected and used for model development. The more effective prediction model was selected from the two developed models based on its prediction capability. The model would help guide project managers making financial decisions when the determination of the cost contingency amounts for multiple projects is necessary.

• Korean Journal of Construction Engineering and Management
• /
• v.17 no.5
• /
• pp.35-44
• /
• 2016

Various risk factors are known to be the nature of construction project execution process. These factors lead to potential claims, dispute mediation, arbitration, and litigation which can result in huge loss of money and time. Therefore, it is necessary for construction companies in Korea to improve overall project management capability through the evaluation before entering into the overseas construction market. Also, after examination of the claim and dispute caused by construction project risks, a substantial degree of influence and active preparation for the claim and dispute management should be confirmed via the effect analysis of the each factors. Main claim causes were derived through claim and dispute cases involved with domestic construction projects. As a prediction result of the main claim, 16.1% of the construction change claim, 5.7% of the bad faith claim and 2.7% for the construction delay claim were found to be the portion of the total construction cost. As a result of this analysis, risk management methodology was suggested to improve a project management capability for domestic construction companies through analysis result of the main factors of construction claims.

• Korean Journal of Construction Engineering and Management
• /
• v.17 no.3
• /
• pp.61-70
• /
• 2016

Construction enterprises have performed various projects such as buildings, infrastructure and plant projects in the international market. Among these, the plant project's amount of orders accounted for about 68.9% of all. However, because of the enterprises won a contract with a low-budget for plant project in the last 10 years, the profit has dropped dramatically. And it is forecasted that there are extreme competition for bid award of plant projects because of the current falling oil prices and raising interest rates. In this circumstance, the comprehending of enterprises strength and weakness must be a priority to get a sustainable competitive advantage. Therefore this research suggests the enterprises's capability assessment framework and it is in order to diagnose the korean construction enterprises capabilities. The framework is based on the VRIO model that is on the basis of resource based theory. First, the capability assessment indices and their importance and priority that based on the life-cycle of plant project is deducted by literature review and survey. Second, the 5 point likert score applied VRIO survey is conducted to diagnose the enterprises and quantified the survey result using the fuzzy theory. Lastly, the competitvie implication and capability assessment are deducted.

• International conference on construction engineering and project management
• /
• 2015.10a
• /
• pp.169-173
• /
• 2015

The linear scheduling method or line-of-balance (LOB) is a popular choice for projects that involve repetitive tasks during project execution. The method, however, produces deterministic schedule that does not convey a range of potential project outcomes under uncertainty. This results from the fact the basic scheduling parameters such as crew production rates are estimated to be deterministic based on single-point value inputs. The current linear scheduling technique, therefore, lacks the capability of reflecting the fluctuating nature of the project operation. In this paper the authors address the issue of how the variability of operation and production rates affects schedule outcomes and show a more realistic description of what might be a realistic picture of typical projects. The authors provide a solution by providing a more effective and comprehensive way of incorporating the crew performance variability using a Monte Carlo simulation technique. The simulation outcomes are discussed in terms of how this stochastic approach can overcome the shortcomings of the conventional linear scheduling technique and provide optimum schedule solutions.

• International conference on construction engineering and project management
• /
• 2011.02a
• /
• pp.534-541
• /
• 2011

Risk evaluation approaches for bidding on international construction projects are typically partitioned into three stages: country selection, project classification, and bid-cost evaluation. However, previous studies are frequently under attack in that they have several crucial limitations: 1) a dearth of studies about country selection risk tailored for the overseas construction market at a corporate level; 2) no consideration of uncertainties for input variable per se; 3) less probabilistic approaches in estimating a range of cost variance; and 4) less inclusion of covariance impacts. This study thus suggests a three-staged risk evaluation model to resolve these inherent problems. In the first stage, a country portfolio model that maximizes the expected construction market growth rate and profit rate while decreasing market uncertainty is formulated using multi-objective genetic analysis. Following this, probabilistic approaches for screening bad projects are suggested through applying various data mining methods such as discriminant logistic regression, neural network, C5.0, and support vector machine. For the last stage, the cost overrun prediction model is simulated for determining a reasonable bid cost, while considering non-parametric distribution, effects of systematic risks, and the firm's specific capability accrued in a given country. Through the three consecutive models, this study verifies that international construction risk can be allocated, reduced, and projected to some degree, thereby contributing to sustaining stable profits and revenues in both the short-term and the long-term perspective.

• Proceedings of the Korean Institute Of Construction Engineering and Management
• /
• autumn
• /
• pp.208-213
• /
• 2001

The current progress in computer and electrical engineering has enabled the construction industry to implement innovative technologies in design and engineering. However, the construction segment is still largely based on experience, and this makes it difficult to meet the recent rigorous specifications, especially in the highway construction. This paper describes the current progress and the findings in the development of the computer integrated asphalt paving system, which is expected to assist the equipment operators to construct the quality pavement. The technologies to collect the required information, preferably in real-time, were reviewed comprehensively, and the selected technologies are proposed for the future development. Positional and thermal data were collected at the sample project in real-time to verify the capability of the available technologies. The collected data was analyzed using multiple regression method to confirm the significant factors for the compaction of the sample project, and to develop the empirical model, which can be adopted in the future system.

• KSCE Journal of Civil and Environmental Engineering Research
• /
• v.42 no.4
• /
• pp.549-557
• /
• 2022

Due to harsh conditions of construction site, understanding of current feature of terrain and other infrastructures is critical issue for site managers. However, because of difficulties in acquiring the geographical information of the construction sites such as large sites and limited capability of construction workers, comprehensive site investigation of current feature of construction site is not an easy task for construction managers. To address these circumstances of construction sites, this study deduce difficulties and applicabilities of unmanned aerial vehicle in the area of construction site management. To confirm applicability of UAV in civil construction project, case study have been conducted on the road construction project. The result of case study proved that the developed system is one of promising technologies that has been studied in construction site management. To improve applicability of UAV for construction and process management information, law and technical issues will be an important area of future study.

• Korean Management Science Review
• /
• v.16 no.1
• /
• pp.75-85
• /
• 1999

In recent, an unfaithful construction bring about many social problems. The bidding process considering bidding price firstly is one of the reasons raising an unfaithfull construction work. Thus, we should consider many other criteria including bidding price in the bidder selection process. This paper suggests an analytic hierarchy process(AHP) model for selecting the best bidder of a large construction project. A questionnaire was used to obtain domain experts' opinion about criteria to be considered in the bidding process. A hierarchical structure of the AHP model is formed using criteria obtained in the survey. The model consists of bidding price, construction capability, financial status, faith, and their 17 sub-attributes. The relative importance of bidders are judged by pairwise comparison or absolute measurement. An illustrative example is given to show the process selecting the best bidder using the suggested AHP model.

• Korean Journal of Construction Engineering and Management
• /
• v.17 no.3
• /
• pp.98-107
• /
• 2016

An information system in a construction project has been typically used for drawing, document management, and administration process. And it has limitations to support real-time communication and collaboration among project stakeholders. The objective of this research is to improve communication, information share, and task management by developing a collaboration platform among project stakeholders supporting various communication methods and contents. The platform developed in this research, named as CCP, aims to support communication and collaboration related activities beyond the scope of legacy systems at construction sites. CCP was validated through pilot test and user survey, and it was found to be very helpful for sharing and distributing information, tracking and recording, and improving a user's work capability.

• Journal of the Korean Operations Research and Management Science Society
• /
• v.5 no.1
• /
• pp.61-72
• /
• 1980

This paper is an attempt at developing a method for the analysis and estimation of the effects of project disruptions due to uncertainties. Such uncertainties may result from design changes in large-scale, complex, research and development, or construction projects. An entropical risk analysis method is developed. The method is able to estimate the project capacity to handle equivocation due to design changes and the effects of project disruptions. In an attempt to evaluate the predictive capability of the method, it is compared with the results obtained by a computer Monte Carlo simulation program. It is shown that the entropical risk analysis method may be suggested as an expedient means of evaluating project status for management in the different stages of project execution.