• Proceedings of the Korean Institute of Building Construction Conference
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• 2014.11a
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• pp.98-99
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• 2014

Construction equipment cost is critical to estimate the total construction costs, particularly in large and complicated projects. Despite its importance, the construction equipment cost may not reflect the current market value since the equipment database is being updated every 6 years at most. To keep construction equipment cost up to date, it is highly recommended to use the standard market price that is reported each year by the Ministry of Security and Public Administration (MOSPA). However, there is still a gap to adopt the standard market price system for the construction equipment cost computing system. Therefore, this paper suggests an effective way to develop a construction equipment cost estimation system.

• Proceedings of the Korean Institute of Building Construction Conference
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• 2014.05a
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• pp.50-51
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• 2014

Although price of construction equipment affects overall cost of a construction projects, the cycle of updating them presented in the Poom-Saem in Korea is more than six years. Recently there is a demand of using the 'Standard Market Price of Construction Equipment', published by the ministry of Security and Public Administration, for estimating equipment operating and ownership cost. It is urgent to introduce an advanced system for updating the prices which can timely reflect market changes.

• Journal of the Korea Institute of Building Construction
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• v.15 no.4
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• pp.397-404
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• 2015

Construction equipment cost is critical to estimate the total construction costs, particularly in large and complicated projects. Public construction projects are typically estimated using the Poom-Saem which includes hourly rates for workers and equipments. Despite its importance, the construction equipment cost may not properly reflect the current market value because it is being updated every six years at most. To keep the data for construction equipment cost estimation up to date, it is highly recommended to use the standard market price that is reported each year by the Ministry of Security and Public Administration (MOSPA). However, there is still a wide gap to directly adopt the standard market price for updating the construction equipment prices. Therefore, this paper suggests an effective way to develop an ordinary management systems for updating construction equipment prices in the Poom-saem based on the standard market price.

• Journal of the Korea Institute of Building Construction
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• v.12 no.6
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• pp.624-635
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• 2012

Construction projects, including housing, are carried out over long periods of time. According to changes to the construction period, the cost of input materials and wages also changes. Therefore appropriate management is important in order to minimize cost risks caused by fluctuations in prices. In Korea, housing units are usually sold in lots prior to construction completion. Therefore, careful management of input elements such as materials and equipment that are sensitive to price fluctuations is very important. This study deals with how the price fluctuation of materials, labor, and equipment influences the change of housing cost and seeks a way for cost management through identifying key resources sensitive to price fluctuation. As a result, a change to the housing cost index multiplies depending on cost changes of materials and labor together. Labor costs are a major factor on the housing cost index. In addition, certain types of materials and labor input to housing construction greatly influence price fluctuations. Thus, it is found that managing those main cost factors is the key for effective cost management.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.32 no.4D
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• pp.357-366
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• 2012

Construction equipment has applied to depreciation over the years, however, the price index for construction equipment is not properly reflected in existing quantity per unit and the local tax law. Thus, this study shows the analysis of the corporate tax law, the local tax law and business accounting standards, characteristics of the domestic depreciation system and depreciation methods, and the capital recovery factor of construction equipment applying the theory for economic efficiency. It also presents cases of depreciation on the basis of quantity per unit and tax law using straight-line depreciation method and declining balance method. It is proposed that the relations of the application system of permissible period for construction equipment and the existing system be explained and the application system of permissible period for construction equipment be imposed. Furthermore, it proposes the development of depreciation tables of construction equipment monthly expenses based on the domestic price index and applications. In addition of that, it proposes the analysis of pros and cons of the methods suggested and application limits of the study and subsequent improvement plans. This study should reflect more rational and objective reality in quantity per unit and tax law.

• International conference on construction engineering and project management
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• 2005.10a
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• pp.908-912
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• 2005

Construction Cost Indices are values for measuring fluctuations in direct construction costs which include material costs, labor costs, and equipment costs for construction operations. In Korea, Korea Institute of Construction Technology (KICT) has been assessing and announcing these indices since January, 2004. The main goals of this paper are to look over the calculation process for those indices and then present the trend in construction costs according to the types of facilities with the past construction cost index data. Also, this paper traces the origin of the occurrence of significant changes on those indices through the further analysis of the trend. In addition, this paper shows the practicality of the indices and the way how to put them to practical use. An alternative estimate method using the indices is suggested for compensating the changes of construction costs caused by price fluctuations.

• Proceedings of the Korean Institute of Building Construction Conference
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• 2019.11a
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• pp.50-51
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• 2019

Globally, South Korea is a country that has a lot of $CO_2$ emissions and has steadily increased its total greenhouse gas emissions since the 1990s. With the recent implementation of the carbon emission trading system in Korea, the importance of calculating $CO_2$ emissions of construction equipment is increasing, hence the need for accurate calculation of environmental penalties through allocating carbon emission rights. This study presents a methodology to predict the price of carbon credits using big data analysis method. This methodology is based on correlating and regression analysis of trends in carbon emission prices and search volumes. This study aims to support faster and more accurate budget calculations in the planning of the construction process based on the predicted price of carbon emission rights.

• 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.

• Proceedings of the Safety Management and Science Conference
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• 2007.04a
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• pp.133-141
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• 2007

Aerial working platform is recently used broadly in heavy industry and construction field and also the utilization of it is growing. However, the raise of critical incident caused by unskilled operator is increasing gradually. To reduce and prevent such incident, the training for operating is essential. It's not easy to cover the requirements for the training with real platform because of the high price of it, safety and weather condition. This paper proposes a simulator for the training based on virtual reality to give the training safely regardless to the weather condition and the simulator is deliverable in lower price than real one. The simulator proposed in this paper is available to be set according to the level of trainee managing the assessment level and be also applied for the design of general heavy equipment training simulator based.

• Journal of the Korea Safety Management & Science
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• v.9 no.4
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• pp.57-62
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• 2007

Aerial working platform is recently used broadly in heavy industry and construction field and also the utilization of it is growing. However, the raise of critical incident caused by unskilled operator is increased gradually. To reduce and prevent such incident, the training for operating is essential. It's not easy to cover the requirements for the training with real platform because of the high price of it, safety and weather condition. This paper proposes a simulator for the training based on virtual reality to give the training safely regardless to the weather condition and the simulator is deliverable in lower price than real one. The simulator proposed in this paper is available to be set according to the level of trainee's skill managing and be also applied for the design of general heavy equipment training simulator.