• Korean Journal of Construction Engineering and Management
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• v.6 no.1 s.23
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• pp.125-132
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• 2005

Domestic construction firms make every effort to save cost and, contrarily, enhance quality for competitive advantage in the market. Structural work of building construction takes chaise of the total cost and schedule, thus elaborate planning and management of the work help to lead the project into a successful way. Therefore, the idea to save time and cost and enhance constructability securing quality and safety of the work should be developed after analyzing the designed documents and site conditions comprehensively in the initial construction planning phase. Value Engineering (VE) technique is introduced in the substructural work in this paper to save cost creatively and systematically in the design and construction phase. A practical VE model that is applied to the underground building work systematically is proposed to save cost and it applies to the actual project to confirm the effectiveness of the model.

• Journal of Korean Institute of Industrial Engineers
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• v.42 no.4
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• pp.270-279
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• 2016

A glass product manufacturing company transports a large number of flat glass products from a manufacturing firm to a building construction site. The products are transported using specially designed racks, which assure fewer glass breakages during the deliveries. This study determines the sizes of the racks which minimize the total logistics cost including costs for rack purchasing, handling, transportation, and inventory costs. The determination of the rack size should consider tradeoff relationships between the amount of glasses piled in a rack and the number of racks loaded on a truck, and affects the required number of racks and the truck operational cost. A truck loading algorithm is proposed to maximize a high truck utilization, and an enumeration method is proposed to determine the optimal combination of rack sizes considering the total logistics cost. The numerical example is solved by using a real data.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.19 no.38
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• pp.189-197
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• 1996

It is in general reported that construction cost in an underground storage facility is less than that of the same capacity and features in an aboveground facility. Since these costs have a derivative with respect to facility size and fridging unit, the cost of construction and fridging unit are sensitive to location of storage, items to store, and rock quality of storage site. In this paper, to analyse an economic investment point for the underground food storage relative to aboveground storage, we compared these two models which have equivalent annual cost with the total cost that consists of initial facility investment cost and annual operation cost. Based on comparison of the economic investment in the underground with aboveground storage. an economic initial investment cost has been suggested for storing the agricultural and fish products.

• International Journal of High-Rise Buildings
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• v.6 no.4
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• pp.323-326
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• 2017

Sustainability is becoming more and more important in our everyday lives. Thus, it is apparent that more sustainable initiatives are incorporated in a building design concept to reduce operation costs and environmental impacts. However, will the construction cost go up if the building is going green - especially if it is a tall building? This is the question on everyone's mind. In the following paragraphs, we will look into a case study of a skyscraper in Nanning, China. That 411-metre skyscraper, Nanning China Resources Centre East Office Tower, is currently under construction. Designed to LEED-CS Gold standards, the building has adopted a number of sustainable design elements and operation practice, which indeed only accounts for a small percentage of the total construction cost.

• Proceedings of the KIEE Conference
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• 2004.05b
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• pp.183-185
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• 2004

Despite high cost, the underground power distribution system has been preferred by utilities and customers due to its stability and good living environment. Utilities, however, are burdened with the cost of installation as the service region of underground power system is getting enlarged. In this paper, a design method is proposed in order to reduce the construction cost of underground distribution system. That is an optimum algorithm, which can increase the total number of pipes in a limited space compared with a conventional design method. As a result, the proposed design method can reduce efficiently the construction cost of underground distribution system.

• Korean Journal of Construction Engineering and Management
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• v.1 no.1 s.1
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• pp.63-71
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• 2000

The paper considers two non-deterministic methods of analysing the risk exposure in a cost estimate The fist method(referred to as the 'conventional statistical' method) analyses cost data directly, to describe a probability distribution for total cost. The second method(referred to as the 'Monte Carlo simulation' method) interprets cost data directly, to generate a probability distribution for total costs from the descriptions of elemental cost distribution. The common practice of allowing for risk through an all-embracing contingency sum or percentage addition is challenged. Rather than excluding conventional, non-deterministic methods, they are here presented as possibly the only of effective foundation on which to risk management in cost estimating.

• International conference on construction engineering and project management
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• 2007.03a
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• pp.96-105
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• 2007

This paper presents a study on the impact of variation of construction material prices on the feasibility of building projects in Vietnam. The paper makes use of Monte-Carlo simulation for financial risk analysis of net present Value (NPV) and internal rate of return (IRR). To well illustrate the influencing, a case study is presented. The research results show that there is a strong correlation between steel prices, gold prices, and $US exchange rate. Outputs of statistics also reveal that the concurrent variation of prices of cement, steel, sand, brick, formwork and stone has strongly negative impact on NPV and IRR of building projects. The results also indicate that the proportion of steel cost to total construction cost is 17.95% which is the cause of risks for the feasibility of building project in Vietnam. The paper stresses that feasibility study of building project must integrate the impact of construction materials prices in order to mitigate risks in developing countries as Vietnam.

• Proceedings of the Korean Institute of Building Construction Conference
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• 2012.05a
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• pp.19-20
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• 2012

According to develop urban area, the depth and floor area of basement tend to become deeper and larger. Excavation work for basement floor work is very important because its cost take 20% of total construction cost. Therefore, many studies of developing retaining wall system have performed for feasibility and safety in deep excavation work. In this study, new supporting system used high-strength pipe for retaining wall is introduced to reduce the construction cost and improve the safety and constructability by analyzing case study.

• Journal of Construction Engineering and Project Management
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• v.2 no.4
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• pp.25-31
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• 2012

The growing rate of delays is adversely affecting the timely delivery of construction projects. This study therefore assesses construction stakeholders' perception of the causes of delays and its effects on project delivery in a bid to proffer solution in minimizing the occurrences of delays. Questionnaire was used to elicit responses from construction stakeholders; a total of thirty three causes of delays, seventeen resultant effects of delays and fifteen methods of minimizing construction delays were identified for the study based on literature reviews. The results suggest that client's cash flow related problems are the main causes of delays while time and cost overruns are the major identifiable effects of delays in construction projects. However, adequate project planning and budgeting were suggested as possible ways of minimizing the occurrences of delays.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• 2006.11a
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• pp.175-180
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• 2006

Total conceptual cost estimates and the assessment of the reliability of these estimates are critical in the early stages of a building construction project. The purpose of this study is to propose the method to clients or estimators for improving the reliability of conceptual cost estimates by evaluating the reliability of conceptual cost estimates. The data from 83 building construction projects were collected for this study. The results showed that the proposed method can propose alternatives to clients or estimators for improving the reliability of conceptual cost estimates with the process of evaluation, review and feedback. This process can assist clients in their evaluation of the reliability of the estimated cost and the probability of exceeding the target cost, and in their re-estimation after dealing with the elements that influence the conceptual cost estimate badly.