Pub Date : 2016-01-31DOI: 10.6106/KJCEM.2016.17.1.066
Suji Kim, Min Kim, Yunsub Lee, Youngsoo Jung
Abstract : As the demands for traditional Korean housing has been increased in recent years, modernized Korean traditional housing (Hanok) was developed as a way of providing Hanok for the public. Modernized Hanok attempts to remedy the shortcomings of the traditional hanok (i.e., high unit cost of building and low energy performance). In the previous researches, standardization and productivity improvement for modernized Hanok dissemination have been intensely developed. Above all, cost estimating for modernized Hanok is also an important factor. In an effort to provide effective system for Hanok construction, this paper developed ‘standard cost data’ for modernized Hanok. Distinct characteristic of modernized Hanok construction were analyzed first. Then, basic structure was identified, and major items were selected for Hanok standard cost data. However, this set of cost data was developed based on two mock-up Hanok projects actually constructed. Accordingly, this standard cost data will be further updated and modified by continuously accumulating real-world Hanok projects.
{"title":"Estimating Standards and Cost Data for Modernized Korean Hosing (Hanok)","authors":"Suji Kim, Min Kim, Yunsub Lee, Youngsoo Jung","doi":"10.6106/KJCEM.2016.17.1.066","DOIUrl":"https://doi.org/10.6106/KJCEM.2016.17.1.066","url":null,"abstract":"Abstract : As the demands for traditional Korean housing has been increased in recent years, modernized Korean traditional housing (Hanok) was developed as a way of providing Hanok for the public. Modernized Hanok attempts to remedy the shortcomings of the traditional hanok (i.e., high unit cost of building and low energy performance). In the previous researches, standardization and productivity improvement for modernized Hanok dissemination have been intensely developed. Above all, cost estimating for modernized Hanok is also an important factor. In an effort to provide effective system for Hanok construction, this paper developed ‘standard cost data’ for modernized Hanok. Distinct characteristic of modernized Hanok construction were analyzed first. Then, basic structure was identified, and major items were selected for Hanok standard cost data. However, this set of cost data was developed based on two mock-up Hanok projects actually constructed. Accordingly, this standard cost data will be further updated and modified by continuously accumulating real-world Hanok projects.","PeriodicalId":220018,"journal":{"name":"Korean Journal of Construction Engineering and Management","volume":"27 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-01-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133010335","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2016-01-31DOI: 10.6106/KJCEM.2016.17.1.010
Namjoon Kim, Youngsoo Jung, Seunghee Kang, Dongwoo Shin
Abstract : Domestic CM market has continued to grow since the enactment of CM policies in 1996. In addition, future CM market is forecasted to have potential high growth. Therefore, it is necessary to apply various CM business models reflecting the owner’s requirements and characteristics in order to improve in the CM industry and to strengthen the competitiveness in the overseas construction market. In this context, the purpose of this study is to suggest strategies of various CM applications based on comparison of 4 cases analyzed by ‘business weight’ and ‘business depth’ in terms of business function as well as by the types of ‘CM market’ and ‘CM practice’. Result of this comparative analysis shows that each case presents differences in terms of type, business weight, and business depth of CM practice. However, domestic public CM services are currently being challenged to strengthen capability throughout the project life-cycle against the limitation of government’s CM policies focused on the construction supervision. In order to address this problem, this study proposes the strategies of various CM applications from several different perspectives.
{"title":"Strategy for Various CM Applications based on Comparative Case Analysis","authors":"Namjoon Kim, Youngsoo Jung, Seunghee Kang, Dongwoo Shin","doi":"10.6106/KJCEM.2016.17.1.010","DOIUrl":"https://doi.org/10.6106/KJCEM.2016.17.1.010","url":null,"abstract":"Abstract : Domestic CM market has continued to grow since the enactment of CM policies in 1996. In addition, future CM market is forecasted to have potential high growth. Therefore, it is necessary to apply various CM business models reflecting the owner’s requirements and characteristics in order to improve in the CM industry and to strengthen the competitiveness in the overseas construction market. In this context, the purpose of this study is to suggest strategies of various CM applications based on comparison of 4 cases analyzed by ‘business weight’ and ‘business depth’ in terms of business function as well as by the types of ‘CM market’ and ‘CM practice’. Result of this comparative analysis shows that each case presents differences in terms of type, business weight, and business depth of CM practice. However, domestic public CM services are currently being challenged to strengthen capability throughout the project life-cycle against the limitation of government’s CM policies focused on the construction supervision. In order to address this problem, this study proposes the strategies of various CM applications from several different perspectives.","PeriodicalId":220018,"journal":{"name":"Korean Journal of Construction Engineering and Management","volume":"41 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-01-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126905489","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2016-01-31DOI: 10.6106/KJCEM.2016.17.1.083
Hyeon Park, I. Park, M. Son, Yongwoon Cha, Chang-taek Hyun
In the past, the domestic construction industry mainly comprised quantitative investment through the supply of labor force, however, there have recently been opinions that there is a need for qualitative investment in the workers in order to obtain competitiveness in construction markets. Accordingly, there are much re-education courses for workers in the construction industry, but there is much negative awareness as to the efficiency of the current re-education course due to many problems. This study aimed to examine the problems o f currently executed re-education courses and proposed an improvement plan for the qualitative enhancement of domestic construction re-education. Thus, a multiple regression analysis was conducted to deduce two core problems an improvement plan. The improvement plan for the problems comprised the NCS/CDP-based integrative education program through an AHP. The contribution of this paper will result in the execution of a more effective construction industry re-education program, and the result of such program to achieve qualitative growth in the workers in the construction industry
{"title":"Improvement of Domestic Construction Re-Education through Status Analysis","authors":"Hyeon Park, I. Park, M. Son, Yongwoon Cha, Chang-taek Hyun","doi":"10.6106/KJCEM.2016.17.1.083","DOIUrl":"https://doi.org/10.6106/KJCEM.2016.17.1.083","url":null,"abstract":"In the past, the domestic construction industry mainly comprised quantitative investment through the supply of labor force, however, there have recently been opinions that there is a need for qualitative investment in the workers in order to obtain competitiveness in construction markets. Accordingly, there are much re-education courses for workers in the construction industry, but there is much negative awareness as to the efficiency of the current re-education course due to many problems. This study aimed to examine the problems o f currently executed re-education courses and proposed an improvement plan for the qualitative enhancement of domestic construction re-education. Thus, a multiple regression analysis was conducted to deduce two core problems an improvement plan. The improvement plan for the problems comprised the NCS/CDP-based integrative education program through an AHP. The contribution of this paper will result in the execution of a more effective construction industry re-education program, and the result of such program to achieve qualitative growth in the workers in the construction industry","PeriodicalId":220018,"journal":{"name":"Korean Journal of Construction Engineering and Management","volume":"37 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-01-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115276112","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2016-01-31DOI: 10.6106/KJCEM.2016.17.1.048
Sin-Gil Kang, Seung-Chul Kim
Risk management is an important element for successful management of overseas construction projects. This study reports a case study in which we proposed a risk management planning and procedure for plant construction which can be applied throughout the project life cycle. We analyzed the risk management practices of Korean construction companies by applying the concept of the PRINCE2 method developed in the UK, and proposed a risk management planning and procedure with organizational structure and working process. The suggested risk management planning and procedure was applied to an overseas plant construction project, and produced good results. It is believed that the procedure suggested here can also be aplied to other companies to enhance the competency in the global construction market.
{"title":"A Study on Composition and Application of Risk Management Planning and Procedure for Successful Overseas Construction Projects - Based on the PRINCE2 Methodology in the UK -","authors":"Sin-Gil Kang, Seung-Chul Kim","doi":"10.6106/KJCEM.2016.17.1.048","DOIUrl":"https://doi.org/10.6106/KJCEM.2016.17.1.048","url":null,"abstract":"Risk management is an important element for successful management of overseas construction projects. This study reports a case study in which we proposed a risk management planning and procedure for plant construction which can be applied throughout the project life cycle. We analyzed the risk management practices of Korean construction companies by applying the concept of the PRINCE2 method developed in the UK, and proposed a risk management planning and procedure with organizational structure and working process. The suggested risk management planning and procedure was applied to an overseas plant construction project, and produced good results. It is believed that the procedure suggested here can also be aplied to other companies to enhance the competency in the global construction market.","PeriodicalId":220018,"journal":{"name":"Korean Journal of Construction Engineering and Management","volume":"30 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-01-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115461388","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2016-01-31DOI: 10.6106/KJCEM.2016.17.1.018
Kyujin Kim, Byung-Sun 理쒕퀝 Choi, J. Chun
The purpose of this study is to classify main risk factors on a construction phase of a plant project and analyze importance by the risk factors. Plant Industry is continuing boom and the increase in overseas plant orders in 2014 has showed a performance increase of 61% of the total orders, as the plant industry are risk factors for the construction phase, safety management target recognition and variety of accident prevention and safety factors by importance, etc. a situation that requires the development and introduction of management. So, it is performed that collected disaster conditions data on a construction phase of a plant project, is questioned by plant construction professional and is classified by 4M. Then, it is performed that is questioned by plant construction and safety professional in order to apply AHP method, and is presented from analyzing the risk factors, which are results of the survey, by importance and priority. This study will recognize from identifying the main risk factors in advance and will be utilized as a basic data is to prevent the risk factors.
{"title":"Safety Management Factor Analysis of Expert Perceptions Based on 4M Method for Plant Construction Phase","authors":"Kyujin Kim, Byung-Sun 理쒕퀝 Choi, J. Chun","doi":"10.6106/KJCEM.2016.17.1.018","DOIUrl":"https://doi.org/10.6106/KJCEM.2016.17.1.018","url":null,"abstract":"The purpose of this study is to classify main risk factors on a construction phase of a plant project and analyze importance by the risk factors. Plant Industry is continuing boom and the increase in overseas plant orders in 2014 has showed a performance increase of 61% of the total orders, as the plant industry are risk factors for the construction phase, safety management target recognition and variety of accident prevention and safety factors by importance, etc. a situation that requires the development and introduction of management. So, it is performed that collected disaster conditions data on a construction phase of a plant project, is questioned by plant construction professional and is classified by 4M. Then, it is performed that is questioned by plant construction and safety professional in order to apply AHP method, and is presented from analyzing the risk factors, which are results of the survey, by importance and priority. This study will recognize from identifying the main risk factors in advance and will be utilized as a basic data is to prevent the risk factors.","PeriodicalId":220018,"journal":{"name":"Korean Journal of Construction Engineering and Management","volume":"31 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-01-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125437663","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2016-01-31DOI: 10.6106/KJCEM.2016.17.1.119
Eunbae Kim, Hyun-soo Lee, Moonseo Park, Bosik Son
Abstract : Since May 23, 2014, the Construction Technology Promotion Act has been effect through the entire reform of the Act. Despite the extensive reform, the previous penalty articles remain intact. According to the article 85 ①, especially, if a service provider or an engineer has caused death or injury by violating the duty of good faith and by damaging the principal parts of facilities, the person should be sentenced for lifetime imprisonment or imprisonment for no less than three years. The article has been controversial in its clarity and adequacy. This study is to verify the characteristics and the scope of the article and to suggest the theoretical backgrounds by analyzing the article based on the principle of legality, which enables to set forth the possibility to improve the article. To achieve the goal, the provision has been analyzed in accordance with the basic laws in Korea including the constitutional law and the criminal law, the related cases have been collected, and the comparison of the relevant acts has been executed. The detailed discussion about the articles in laws and acts on construction and the long-term and integrated study are expected to vitalize through this research.
{"title":"Analyzing Article 85(Penalty) in the Construction Technology Promotion Act based on the Principle of Legality","authors":"Eunbae Kim, Hyun-soo Lee, Moonseo Park, Bosik Son","doi":"10.6106/KJCEM.2016.17.1.119","DOIUrl":"https://doi.org/10.6106/KJCEM.2016.17.1.119","url":null,"abstract":"Abstract : Since May 23, 2014, the Construction Technology Promotion Act has been effect through the entire reform of the Act. Despite the extensive reform, the previous penalty articles remain intact. According to the article 85 ①, especially, if a service provider or an engineer has caused death or injury by violating the duty of good faith and by damaging the principal parts of facilities, the person should be sentenced for lifetime imprisonment or imprisonment for no less than three years. The article has been controversial in its clarity and adequacy. This study is to verify the characteristics and the scope of the article and to suggest the theoretical backgrounds by analyzing the article based on the principle of legality, which enables to set forth the possibility to improve the article. To achieve the goal, the provision has been analyzed in accordance with the basic laws in Korea including the constitutional law and the criminal law, the related cases have been collected, and the comparison of the relevant acts has been executed. The detailed discussion about the articles in laws and acts on construction and the long-term and integrated study are expected to vitalize through this research.","PeriodicalId":220018,"journal":{"name":"Korean Journal of Construction Engineering and Management","volume":"162 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-01-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132531739","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2016-01-31DOI: 10.6106/KJCEM.2016.17.1.003
Sang-Tae Kim, J. Shim, Heung-Rae Kim
This study proposes a approximate cost estimation system based on Excel with VBA using weighted CBR(Case Based Reasoning). One characteristic of this system is that it generates the sheet automatically as many as the number of similar case and new estimation when it performs a case learning and a new estimate and cell formula is automatically entered into each sheet. User can be free to compose a combination of attribute factors because they can select up to ten attribute factors. This paper presents an applicability of estimation model for estimating the soil remediation cost when it use a landfarming method. When compared to a estimation model by using average unit cost and optimum multiple regression, this model shows a better result. This study was aimed at landfarming method, but it is expected that a cost estimation model using CBR will be more likely to apply in soil remediation technologies which various remediation technologies and pollutant species exist.
本文提出了一种基于Excel和VBA的基于加权案例推理(Case based Reasoning, CBR)的近似成本估算系统。该系统的一个特点是在进行案例学习时，根据相似案例和新估计的数量自动生成表格，并自动将新的估计和单元格公式输入到每个表格中。用户可以自由地组合属性因子，因为他们可以选择多达十个属性因子。本文提出了估算模型在土地耕作法土壤修复成本估算中的适用性。与使用平均单位成本和最优多元回归的估计模型相比，该模型具有更好的效果。虽然本研究针对的是土地耕作方式，但希望基于CBR的成本估算模型更适用于多种修复技术和污染物种类存在的土壤修复技术。
{"title":"Development of Approximate Cost Estimation System Based on CBRT echnique; Applicability Study for Landfarming Soil Remedation Technology","authors":"Sang-Tae Kim, J. Shim, Heung-Rae Kim","doi":"10.6106/KJCEM.2016.17.1.003","DOIUrl":"https://doi.org/10.6106/KJCEM.2016.17.1.003","url":null,"abstract":"This study proposes a approximate cost estimation system based on Excel with VBA using weighted CBR(Case Based Reasoning). One characteristic of this system is that it generates the sheet automatically as many as the number of similar case and new estimation when it performs a case learning and a new estimate and cell formula is automatically entered into each sheet. User can be free to compose a combination of attribute factors because they can select up to ten attribute factors. This paper presents an applicability of estimation model for estimating the soil remediation cost when it use a landfarming method. When compared to a estimation model by using average unit cost and optimum multiple regression, this model shows a better result. This study was aimed at landfarming method, but it is expected that a cost estimation model using CBR will be more likely to apply in soil remediation technologies which various remediation technologies and pollutant species exist.","PeriodicalId":220018,"journal":{"name":"Korean Journal of Construction Engineering and Management","volume":"37 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-01-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132974148","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2016-01-31DOI: 10.6106/KJCEM.2016.17.1.101
Seunghak Lee, Jaeho Son, Jaeho Pyeon, Seunghak Lee
During road construction, minimizing haul and return distances as well as keeping a balance between cut and fill quantities are two of the key tasks for earthmoving operation planning. The result of the earthwork planning has a significant impact on the construction cost and duration. Although there have been research efforts regarding optimized earthwork planning using linear programming, the current practice of selecting earthwork planning methods typically depends on a field manager`s intuitive and/or experimental knowledge. Furthermore, there is no system considering earthwork influential field factors including the transportation distance, the earthwork quantity, and the recycling ratio of earth volume. Therefore, this research focuses on the development of such a model for planning the optimized earthwork to increase the efficiency of a road construction. The proposed model is developed based upon the transportation problem method which is a part of Linear Programming. The application result of optimization model on a case study shows that the duration and cost for earthwork ha sbeen reduced approximately 19% and 11% respectively
{"title":"Developing an Optimization Model and Program for Planning the Earthwork Based Upon Transportation Theory","authors":"Seunghak Lee, Jaeho Son, Jaeho Pyeon, Seunghak Lee","doi":"10.6106/KJCEM.2016.17.1.101","DOIUrl":"https://doi.org/10.6106/KJCEM.2016.17.1.101","url":null,"abstract":"During road construction, minimizing haul and return distances as well as keeping a balance between cut and fill quantities are two of the key tasks for earthmoving operation planning. The result of the earthwork planning has a significant impact on the construction cost and duration. Although there have been research efforts regarding optimized earthwork planning using linear programming, the current practice of selecting earthwork planning methods typically depends on a field manager`s intuitive and/or experimental knowledge. Furthermore, there is no system considering earthwork influential field factors including the transportation distance, the earthwork quantity, and the recycling ratio of earth volume. Therefore, this research focuses on the development of such a model for planning the optimized earthwork to increase the efficiency of a road construction. The proposed model is developed based upon the transportation problem method which is a part of Linear Programming. The application result of optimization model on a case study shows that the duration and cost for earthwork ha sbeen reduced approximately 19% and 11% respectively","PeriodicalId":220018,"journal":{"name":"Korean Journal of Construction Engineering and Management","volume":"126 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-01-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132046914","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2015-11-30DOI: 10.6106/KJCEM.2015.16.6.144
Jong-Kwon Park, J. Jun
: This paper is to understand investment's efficiency and performance of commercial real estate assets diversified by use and district. To do so, this paper divides two different commercial real estate markets(office build market and retail real estate market) in Seoul city by district into "GBD(Gangnam Business District), YBD(Yeouido Business District), and CBD(Central Business District)" and "GBD(Gangnam Business District), SBD(Shinchon Business District), and CBD(Central Business District)" respectively, configures these districts each other to structure portfolios as its portion varies based on Markowitz's Mean-Variance principle, and looks at risk-return relationship of portfolios to find out efficiency, performance, and optimal investment chosen based upon Sharpe's Performance Index. As a result, the portfolio configured by "10 to 30% of office building asset at CBD" and "70 to 90% of retail real estate asset at CBD" is shown to be the most optimal, suggesting the highest quarterly Sharpe's performance index of 2.7118~2.7776 with quarterly rate of return of 1.826%~1.838% and quarterly standard deviation of 0.573~0.589. Furthermore, it is obvious that diversified portfolio configured by use(office-retail) shows better investment performance than that by district with same type of asset(office-office or retail-retail). Finally, results driven from this research will play an important role to stimulate real estate and construction markets through enlarging ideas as to diversified investment by use and district on real estate indirect investment products.
{"title":"Diversified Investment of Commercial Real Estate Assets - Focused on Office Building and Retail Real Estate Markets in Seoul -","authors":"Jong-Kwon Park, J. Jun","doi":"10.6106/KJCEM.2015.16.6.144","DOIUrl":"https://doi.org/10.6106/KJCEM.2015.16.6.144","url":null,"abstract":": This paper is to understand investment's efficiency and performance of commercial real estate assets diversified by use and district. To do so, this paper divides two different commercial real estate markets(office build market and retail real estate market) in Seoul city by district into \"GBD(Gangnam Business District), YBD(Yeouido Business District), and CBD(Central Business District)\" and \"GBD(Gangnam Business District), SBD(Shinchon Business District), and CBD(Central Business District)\" respectively, configures these districts each other to structure portfolios as its portion varies based on Markowitz's Mean-Variance principle, and looks at risk-return relationship of portfolios to find out efficiency, performance, and optimal investment chosen based upon Sharpe's Performance Index. As a result, the portfolio configured by \"10 to 30% of office building asset at CBD\" and \"70 to 90% of retail real estate asset at CBD\" is shown to be the most optimal, suggesting the highest quarterly Sharpe's performance index of 2.7118~2.7776 with quarterly rate of return of 1.826%~1.838% and quarterly standard deviation of 0.573~0.589. Furthermore, it is obvious that diversified portfolio configured by use(office-retail) shows better investment performance than that by district with same type of asset(office-office or retail-retail). Finally, results driven from this research will play an important role to stimulate real estate and construction markets through enlarging ideas as to diversified investment by use and district on real estate indirect investment products.","PeriodicalId":220018,"journal":{"name":"Korean Journal of Construction Engineering and Management","volume":"64 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-11-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130565182","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2015-11-30DOI: 10.6106/KJCEM.2015.16.6.112
Jae-yong Cho, Junggon Kim, Hyeonggeun Park, Young-Suk Kim, Bok-Nam Lee
Abstract : Many disputes are happened with various causes in overseas construction projects. One of major disputes is closely related with nominated subcontractors (NSC). This paper investigates 30 judical precedents for Singapore, Malaysia and Hongkong to analyze the detailed disputes related with the NSC, and then the judical precedents are classified into 6 categories: Delay and Defect Trouble (T1), Contract Relation (T2), Payment Trouble (T3), Set-off (T4), Liquidation (T5) and so forth (T6). According to the analytical results, the frequency of occurrence of disputes is considerably related with social and economical changes, and the dispute between NSC and employer for residential and commercial building projects is the most frequently happened case. As the results of analysis, therefore, it is concluded that the employer needs to response aggressively to the problems related with NSC, and it is also important to make the council for communication among related bodies. Furthermore, the institutional reform that make the role and the responsibility of employer consistent under considering contract terms and conditions is considered as the most important and fundamental issue.
{"title":"Investigation of Disputes for Nominated Sub-contractor(NSC) -Focused on the Judicial Precedent of NSC issues in Singapore, Malaysia and Hong Kong-","authors":"Jae-yong Cho, Junggon Kim, Hyeonggeun Park, Young-Suk Kim, Bok-Nam Lee","doi":"10.6106/KJCEM.2015.16.6.112","DOIUrl":"https://doi.org/10.6106/KJCEM.2015.16.6.112","url":null,"abstract":"Abstract : Many disputes are happened with various causes in overseas construction projects. One of major disputes is closely related with nominated subcontractors (NSC). This paper investigates 30 judical precedents for Singapore, Malaysia and Hongkong to analyze the detailed disputes related with the NSC, and then the judical precedents are classified into 6 categories: Delay and Defect Trouble (T1), Contract Relation (T2), Payment Trouble (T3), Set-off (T4), Liquidation (T5) and so forth (T6). According to the analytical results, the frequency of occurrence of disputes is considerably related with social and economical changes, and the dispute between NSC and employer for residential and commercial building projects is the most frequently happened case. As the results of analysis, therefore, it is concluded that the employer needs to response aggressively to the problems related with NSC, and it is also important to make the council for communication among related bodies. Furthermore, the institutional reform that make the role and the responsibility of employer consistent under considering contract terms and conditions is considered as the most important and fundamental issue.","PeriodicalId":220018,"journal":{"name":"Korean Journal of Construction Engineering and Management","volume":"142 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-11-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134423498","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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