• Journal of the Korean Institute of Landscape Architecture
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• v.43 no.6
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• pp.150-159
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• 2015

This study was conducted for the purpose of presenting basic data for calculating a more reasonable landscaping project cost in the future through the construction cost calculation ratio of scenic planting and facilities and their time series trend analysis targeting 'J' corporation, a representative Korean public institution that creates apartment complexes. This study targeted scenic planting and the facility construction costs of 37 apartment complexes in the capital area from 2004 to 2012, using statistical analysis methods such as technical analysis, correlation analysis, and regression analysis to analyze the characteristics of the time series change. The conclusion was drawn as follows. First, breaking down the cost of overall landscaping projects to scenic planting and facility construction, the ratio of the average cost of scenic planting to that of facility construction showed 56.1% to 43.9% from 2004 to 2012. Second, the costs of planting construction and facility construction both showed a fluctuation range of about ${\pm}3%$, implying relatively steady costs considering the inflation rate. Third, the landscape construction cost for each type of construction resulted in a fluctuation range from minimum ${\pm}3%$(exercise facility) to maximum ${\pm}5%$(packing facility), reflecting that among the landscaping projects, the facility construction costs tended to show relatively large fluctuations in accordance with the change of time series. Fourth, the comprehensive indication of the ratio of landscaping project costs by time series and landscaping construction type implies that the regional characteristics and positional condition of the apartment complexes were not reflected sufficiently. Fifth, the high level of correlation of landscaping construction types and landscaping construction elements imply that the entire construction costs were controlled through partial adjustment of cost components within the overall frame of construction cost. These results reveal the problems of standardized landscaping cost irrespective of user satisfaction or environmental traits such as the conditions of the apartment complexes.

• Proceedings of the Korean Institute of Building Construction Conference
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• 2022.11a
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• pp.215-216
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• 2022

Profit, the performance of an apartment development project, is directly affected by the sales ratio, unit sale price, financial costs, land costs and construction costs. However, these factors fluctuate in response to changes in the environment, including various stake holders, and the profits fluctuate as a result. In order to ensure that profits are managed within target levels, these factors must be able to be predicted, controlled and monitored and managed up to the start, sale, and end stages of the project. The purpose of this study is to develop a profit risk management model for apartment development projects. The results of this study will contribute to the establishment of academic basis for the dynamic management of project profits that fluctuate with time and environment. And in practice, it will help project developers manage their business revenue to the proper level. In addition, the risks that occur from time to time can be identified quantitatively and visually, and it is expected that it will be easier to derive consensus points for smooth business progress by reducing conflicts of interest among stakeholders.

• Journal of Construction Engineering and Project Management
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• v.4 no.4
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• pp.33-40
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• 2014

Maximizing the profitability and minimizing the duration of construction projects in extreme weather regions is a challenging objective that is essential for project success. An optimization model is presented herein for the time-profit trade-off analysis of construction projects under extreme weather conditions. The model generates optimal/near optimal schedules that maximize profit and minimize the duration of construction projects in extreme weather regions. The computations in the model are organized into: (1) a scheduling module that develops practical schedules for construction projects, (2) a profit module that computes project costs (direct, indirect, and total) and project profit, and (3) a multi-objective module that determines optimal/near optimal trade-offs between project duration and profit. One example is used to show the impact of extreme weather on construction time and profit. Another example is used to show the model's ability to generate optimal trade-offs between the time and profit of construction projects under extreme weather conditions.

• International conference on construction engineering and project management
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• 2005.10a
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• pp.575-586
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• 2005

This paper presents an approach to quantifying the costs and benefits of integrating ERP systems with project management systems, including potential time and cost savings. To properly identify the costs and the benefits, the paper shows the relevant construction information flows and the desired milestones in the integration process. The proposed benefit analysis model should allow construction firms considering the integration of their ERP systems with legacy systems or commercial project management software make informed decisions in regard to the existing alternatives in the early stages of decision making.

• International conference on construction engineering and project management
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• 2005.10a
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• pp.606-614
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• 2005

This paper deals with new realizations of research, scientific development, managerial and economic optimizations for prefabricated building systems. In the literature, all scientific fields are worked out based on the efficiencies, costs, benefits, choice of execution design, technical demands, aesthetical point of view, as well as the total economics. In the present example of a school-building for communities in the third world, the following criteria have been regarded: The optimal superstructure of prefabricated concrete building systems; the particularity of countries of the Third World (e.g. the climate, the political and the economic conditions); the time for construction and necessary innovative developments for an economically optimized superstructure. Added to this are alternative construction-methods and costs for a simple but variable system which can be adapted to changing functions, where variability should be the main point. For example, a school building that is to be adapted by varying number of rooms to cater for the growing number of pupils.

• Journal of the Korea Institute of Building Construction
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• v.3 no.4
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• pp.129-134
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• 2003

The purpose of this study is to evaluate efficiency by the Life Cycle Cost(LCC) analysis of floor covering materials for remodeling. This study has been performed as a case study. The LCC analysis is a technique which takes account into both initial-future costs and benefits of an investment over some period of time. LCC is important in commercial decision making because it provides improved assessment of the living-term cost effectiveness of construction projects as well as alternative economic methods that focus on initial costs. For LCC analysis and comparison, the present value technique is used. The results of this study are summarized as follows; (1) A LCC analysis model of floor covering materials is suggested through a case study (2) As a result of LCC case study, the type of sheet is analysed more economical than that of tile in floor covering materials.

• Journal of the Korea Institute of Building Construction
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• v.11 no.1
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• pp.91-99
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• 2011

Bayesian network is a form of probabilistic graphical model. It incorporates human reasoning to deal with sparse data availability and to determine the probabilities of uncertain cases. In this research, bayesian network is adopted to model the problem of construction project cost. General information, time, cost, and material, the four main factors dominating the characteristic of construction costs, are incorporated into the model. This research presents verify a model that were conducted to illustrate the functionality and application of a decision support system for predicting the costs. The Markov Chain Monte Carlo (MCMC) method is applied to estimate parameter distributions. Furthermore, it is shown that not all the parameters are normally distributed. In addition, cost estimates based on the Gibbs output is performed. It can enhance the decision the decision-making process.

• International conference on construction engineering and project management
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• 2022.06a
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• pp.952-959
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• 2022

Active construction work zones will result in longer travel time and/or longer travel distances for road users because of reduced speed limits and/or detours. This results in increased fuel consumption and increased emissions of harmful gases such as Carbon Monoxide (CO), Nitrogen Oxides (NOx), and Sulfur Oxides (SOx), which causes discomfort to the environment and road users around the work zone. The impact of such emissions should be considered while designing work zones or determining the number of days the roadway will be allowed to be closed partially or fully. This study develops a methodology to compute additional road user costs associated with such work zones. To achieve this goal, a) an extensive literature review is conducted, b) a framework to compute emission cost is developed, c) emission rates are computed for all counties (95) of the state of Tennessee, and d) a case study is conducted to demonstrate the use of the framework to estimate the additional impact of emission because of the work zone. For the case study conducted, the emission cost was computed to be $10,653.60 for the duration of the project. State DOTs can account for such road user costs while selecting contractors using A+B bidding. Accounting for such impact of emission will also indicate the agency's willingness to consider sustainability as a part of the business practices.

• International conference on construction engineering and project management
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• 2009.05a
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• pp.237-241
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• 2009

Automation and robotic technology (ART) has been successfully applied in the manufacturing and allied industries to achieve on-time delivery of quality products at increasingly reduced costs. Meeting time, quality and cost targets still remains a big challenge in the global construction industry with prevalence of time and cost overruns. Application of ART in the construction industry could contribute to significant improvement in the efficient and effective delivery of projects to meet and exceed client expectations. However, the uptake of ART is still low in the construction industry. This study investigates the various ways in which ART could be applied to improve construction project delivery, potential areas of applications, and constraints to the uptake of the technology in the construction industry. Recommendations are made for improving the uptake of ART in the construction industry.

• International conference on construction engineering and project management
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• 2009.05a
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• pp.493-498
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• 2009

Recently, the number of complex construction projects, such as high-density development and long-span mega structure construction, has been increasing globally. Therefore, the construction duration has become an even more important factor for success. Nevertheless, in domestic residential construction projects, it usually takes more time than twice as much as North American cases. The long construction duration causes a number of problems, for example growth of financial costs, fall in productivity, and weakness of competitiveness. If the framework construction duration can be shortened to 3 ~ 4 days, then it is also expected to complete the finish work of building in shorter duration, be led to reduce the entire construction duration, and eventually to save a great deal of indirect costs. For shortening the construction duration, previous researches pointed out that the development of simplified plan design should precedes. But, in reality, lack of experience of new design and innovative techniques tends to be the obstacle to wide adoption of the simplified plan design in construction fields. In this paper, a simplified structural plan design is proposed, and the construction cost is quantitatively compared between when traditional construction technique is applied to the traditional plan and when the duration-shortening key technique is applied to the developed plan.