• Proceedings of the Korean Institute of Building Construction Conference
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• 2009.05b
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• pp.131-135
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• 2009

Domestic construction industry is facing big difficulties by a worldwide financial crisis. Especially the deterioration of liquidity by the reject of banks for project financing and unsold housing project made a big problem on financing for the ongoing and new projects. To solve this, it is critical for construction companies. banking facilities and public organizations to cooperate and support each other. In this study, the methods which each part can do are investigated. Construction companies can do a price reduction, finance condition improvement for deposit and down payment, asset sale and cost reduction. And Public organizations can buy the assets of construction companies with proper price and ease the regulation to activate transactions of real estate. In the case of Banking facilities, they can support arrangement and liquidation of insolvent projects and so on.

• Korean Journal of Construction Engineering and Management
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• v.16 no.6
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• pp.84-91
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• 2015

Project Financing (PF) is a financing method, executed based upon the projected profitability from a project itself instead of relying on the credit rating of project sponsors or any type of collateral. However, most financial institutions of Korea lacks the long term profitability assessment capability, and they prefer to acquire credit reinforcement from the construction companies in the form of the guarantor or debt argument commitments. As a result, PF contingent liabilities as an indirect debt, are burdened to the construction companies. Even though the PF contingent liabilities are not supposed to be part of the financial statements, they became a mandatory disclosure items since 2009. In this study, PF contingent liabilities were studied to indicate how they were correlated with construction firms' financial ratios. Construction firms were grouped by their credit rating and each group was compared in order to analyze PF contingent liabilities' impact on the financial condition of the company in terms of liquidity, liability, and stability.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.3
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• pp.297-305
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• 2021

A contractor or a main contractor is a company with full capacity to construct all project's works for the owner. A subcontractor is an organization that works with the main contractor to execute and complete work packages for the project. Selecting an effective subcontractor will help the efficiency and success of any projects in the construction industry. Therefore, this study identified subcontractor evaluation factors in Vietnam by collecting questionnaire survey data from engineers and staffs in the construction industry project environment. An exploratory factor analysis (EFA) was then performed to identify the critical factors when evaluating and selecting the subcontractor in construction projects. Moreover, when considering the impact level in terms of the average value, the research results showed that the most critical concern was the subcontractor's reputation. Furthermore, the top five factors affecting the sub-contractor evaluation and selection are (i) reputation, (ii) price, (iii) construction techniques, (iv) ability to implement projects according to commitments, and (v) subcontractor competence (the team of workers, technician staff, engineers with full capacity according to regulations). These research results provide an overall perspective that will help main contractors develop suitable subcontractors' evaluation and selection factors in their projects in the construction industry.

• Korean Journal of Construction Engineering and Management
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• v.9 no.2
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• pp.136-145
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• 2008

Recently the Ministry of Finance and Economy of Korea launched two new project delivery systems called "Best Value Contract (Design-Bid-Build)" and "Bridging Contract (Design-Build)" in October of 2007 by revising enforcement ordinances of "Act on Contracts to Which the State is a Party". These project delivery systems require the bidders to submit technical proposal adjusted to the project characteristics and objectives for selecting the contractor by evaluating technical proposals. This research aimed to suggest guideline to effectively operate the project delivery systems described above. To reach the goal of the research, the framework of the operation model was developed, which includes the four categories: the standard bidding process, the technical proposal requirements, the technical proposal evaluation criteria, and the award methods. The contents of the four categories above were fulfilled throughout conferring with the advisory experts. In particular, the award methods, which are the important decision-making factor in the perspective of the owner, consist of four types: Low Bid-Fully Qualified, Weighted Criteria, Adjusted Bid, and Adjusted Score. The quantitative features and application criteria of these four types of award methods were suggested throughout the simulation using the virtual case.

• 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.

• The Journal of the Korea Contents Association
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• v.9 no.11
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• pp.192-200
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• 2009

Market in the 21st century innovative products is not the same as marketing traditional products and services. Whether for survival or to sustain market leadership, Design Marketing Strategy is the key in the new era of world competition. Design Strategies are also more critical issues in the future, because most business and firms depend on successful design project. In order to effectively bring creative professional output to market, design leaders who can use design intelligence to shape the future of their organizations and business must evidence marketing strategy technology, creative and managerial skill. Design Management links design and related business activities into a creative and coordinated strategy for creating value and sustainable advantage for the firm. Design education has focused primarily in the training of professional designers within their specific disciplines. But it dose not provide training in the management skills necessary to effectively lead a design project team. Most design colleges do not provide any integrated education in leadership and team building, strategy, finance, marketing or project management. This is the time that Design Management Program should be prepared to provide design students who want to manage design project in creative industry. The program has to be prepared to provide all the business skills and information that design students need to know in an upper-level undergraduate school. The Program's goal is to graduate design leaders able to strategically manage a design project for the challenge of managing in the 21st century.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.11
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• pp.347-356
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• 2020

Mechanization and automation constitute an essential stage in the production and operation of any company, as one of the determinants of increase in labor productivity and decrease in product price, while significantly contributing to shortening of the lead time. Businesses are, therefore, able to quickly put projects into operation, improving economic efficiency, quality, and aesthetics, which speeds up the national economic growth. For the construction industry to be the most effective, modern construction equipment is a necessity. It is one of the five main resources of a construction project. Thus, effective construction equipment management contributes to the success of a project and benefits the relevant construction companies economically. This paper presents the critical risk factors affecting equipment management and proposes suitable solutions. The questionnaire-based survey with experienced experts in the construction sector on the management of the likelihood and consequence of risk factors revealed thirty-two risks for equipment management in construction companies. These factors fell into six groups: (i) site organization-related risks; (ii) management-related risks; (iii) owner-related risks; (iv) supplier-related risks; (v) legal risks, and (vi) site condition-related and external risks. The results showed that management-related factors contributed to the most significant risks and problems for equipment management in construction companies.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.2
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• pp.309-315
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• 2021

Risks and uncertainty are unavoidable problems in management of projects. Therefore, project managers should not only prevent risks, but also have to respond and manage them. Risk management has become a critical interest subject in the construction industry for both practitioners and researchers. This paper presents critical risk factors of office building projects in the construction phase in Ho Chi Minh City, Vietnam. Data was collected through a questionnaire survey based on the likelihood and consequence level of risk factors. These factors fell into five groups: (i) financial risk factors; (ii) management risk factors; (iii) schedule risk factors; (iv) construction risk factors; and (v) environment risk factors. The research results showed that critical factors affecting office building projects are natural (i.e., prolonged rain, storms, climate effects) and human-made issues (i.e., soil instability, safety behaviors, owner's design change) and the schedule-related risk factors contributed to the most significant risks for office buildings projects in the construction phase in Ho Chi Minh City. They give construction management and project management practitioners a new perspective on risks and risk management of office buildings projects in Ho Chi Minh City and are proactive in the awareness, response, and management of risk factors comprehensively.

• Journal of Industrial Convergence
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• v.20 no.7
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• pp.1-11
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• 2022

In this paper, numerical values are derived using topic modeling among data-based evaluation methodologies discussed by various research institutes. In addition, we will focus on the ICT field to see if there is a difference in policy perception between the national R&D project and standing committee. First, we create model for classifying ICT documents by learning R&D project data using HAN model. And we perform LDA topic modeling analysis on ICT documents classified by applying the model, compare the distribution with the topics derived from the R&D project data and proceedings of standing committees. Specifically, a total of 26 topics were derived. Also, R&D project data had professionally topics, and the standing committee-discuss relatively social and popular issues. As the difference in perception can be numerically confirmed, it can be used as a basic study on indicators that can be used for future policy or project evaluation.

• The Journal of Asian Finance, Economics and Business
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• v.6 no.3
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• pp.295-304
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• 2019

The study aims to investigate the determinant factors in the organisation of a firm's innovative activities, and the impact of innovation capability on firm's performance of electronic firms in Ho Chi Minh city, Vietnam. How is the performance of electronic companies after delivering an innovation project? How will innovation capability affect firm's performance in electronic companies? This study aims to seek the answer of these questions. We employ a Structural Equation Model and the PLS technique in order to validate the theoretical model proposed in this study. With observation of 374 valid firms, based on Cronbach's Alpha analysis, EFA analysis, CFA analysis and SEM analysis, this study discovers 5 groups of factors including: (i) Institution factors; (ii) Attitude of leadership factors; (iii) Marketing factors; (iv) Technological resources factors; (v) Combination factors, which have direct impact on innovation capability of firms. There are 4 groups of factors that have positive impacts on financial performance of electronic firms, with descending order of importance as follows: (1) Attitude of leadership factors; (2) Quality of human resources factors; (3) Innovation capability; (4) Marketing activities factors. Research results are important implications for Government administrative agencies for business to consult and introduce effective support policies.