- Volume 2 Issue 4
This study aims to suggest the method to enhance the value of public construction project during contract review process considering budget reduction for project profit and public interest enhancement simultaneously. The main results of this study are as follows: (1) Current method are considered to be improved from the point that cost reduction through current method could influence performance of the object of contract without conforming to user requirements or facilities' function. (2) In order to supplement current process, the method to evaluate the variation of performance and value was established based on facility type, participants on each phase, and their requirement. (3) Case study was conducted to verify suggested method, and showed the successful application in enhancing the value of construction projects on public sector.
Contract review;Value engineering(VE);Value;Performance;Cost reduction
- Dept. of Contract Review of Gyounggi Province (DCR of GP) (2009), "Regulations of contract review process in Gyunggi Province", Gyounggi Province.
- Ministry of Land, Transportation and Maritime Affairs (MLTM) (2008), Manual of cost reduction for public construction project, Ministry of Land, Transportation and Maritime Affairs.
- Kwon, T. S. (2004), A study on the methodology to select optimum choice for construction value engineering - focusing on multiplecriteria decision-making technique, Dissertation for Doctor Degree in Yonsei University.
- Dept. of Contract Review, Finance Bureau, Seoul City(DCR of SC) (2010). Regulations for contract review works process in Seoul City, Seoul City.
- Yoon, D. J., B. Shin, Y. Jeong and S. Lee (2005), "A study on the subject selection of VE using decision weights techniques", Journal of the Korea Institute of Building Construction, 5(3): 83-90. https://doi.org/10.5345/JKIC.2005.5.3.083
- Lee, J. S. and J. Jeon (2010), "A method for selection of optimal alternative and decision-making support process in construction VE", Journal of Architectural Institute of Korea, 26(3): 111-118.
- Jeong, H. G., J. Yan and S. Lee (2008), "Improved method for VE items selection by analyzing the required items of stakeholders on the apartment in design phase", Korean Journal of Construction Engineering and Management, 9(4): 111-119.
- Dong-Il Architectural Technology Architecture Office (2010), Theory and practical business of architecture VE, Kunsuldoseo.
- Dept. of Accounting Public Corporation, Ministry of Public Administration and Security (DAPC of MPAS) (2008), Guideline of contract review work process for local government, Ministry of Public Administration and Security.