The need for Optimum Value benefit realization on Road Projects in developing countries has become topical. While the traditional Cost Control project management process only aligns actual costs with budgeted costs, V...The need for Optimum Value benefit realization on Road Projects in developing countries has become topical. While the traditional Cost Control project management process only aligns actual costs with budgeted costs, Value Engineering (VE) is a sustainable and systematic innovative methodology for establishing the best functional balance among desired features of a project. A Value Engineering (VE) study was conducted with the aim of examining the benefits associated with its use on Road Projects in Ghana. This study employed a two-stage research procedure: desk study and field research. The literature review identified the Optimum Value benefits associated with VE road project management technique as increased Confidence Level in Contract Compliance, reliable Implementation Level of Construction Delivery and enhanced Effectiveness Level of Project Sustainability. A quantitative survey research design based on a purposive sampling technique of selecting respondents was adopted. Employing closed-ended questions, 40 sets of questionnaires were issued to professionals in Road Infrastructure and Support Agencies (RISA) under the Ministry of Roads and Highways (MRH) in the Eastern Region of Ghana. At a response rate of 85%, descriptive statistical analysis (Means, Standard Deviations and Variances) and inferential statistical analysis of variance (ANOVA) test were used to process the data and determine whether there was any significant difference between VE benefit parameters and the groups of respondents. The results revealed that road professionals are familiar with the VE process but solely use Cost Control project management technique. Road professionals recognized the high Optimum Value benefits of professionally ethical Contract Compliance, efficient Construction Delivery and functionally viable Project Sustainability on VE road project management process.展开更多
At present,with the rapid development of China's economy,the development of the construction industry has made a new breakthrough.Project management requires the construction industry to continuously play its role...At present,with the rapid development of China's economy,the development of the construction industry has made a new breakthrough.Project management requires the construction industry to continuously play its role and value in improving the ability of project management.Earned value method,which is an important way in the field of project management,enables whole project management to rise to a new height.The specific principle of earned value method will be elaborated by fully introducing the specific role of earned value method in engineering projects to provide a reference and basis for practitioners to improve their management ability.展开更多
With the advent of the fourth industrial revolution,the construction industry has undergone a paradigm shift.The smart construction technology market is expected to grow 12%annually in developed countries due to advan...With the advent of the fourth industrial revolution,the construction industry has undergone a paradigm shift.The smart construction technology market is expected to grow 12%annually in developed countries due to advanced technology investments.It is expected that businesses requiring highly sophisticated technology,for instance companies that need their old facilities upgraded,will become the main focus of the market.As building information modeling(BIM)design is becoming mandatory,such as in the Korea Public Procurement Service,researches regarding building automation,construction,and operation integration management systems based on BIM are conducted.In addition,for construction projects of over 10 billion won,design value engineering(Design VE)implementation,including life cycle cost(LCC)analysis,is mandatory at the design stage to improve quality and reduce the lifetime costs of buildings.In this study,we propose an improvement plan for LCC analysis at the design stage using the KBIMS library,which is an open BIM library developed by the Korean government and research groups.We analyze the existing LCC method,KBIMS library,and attribute information,and model the process that is applied in the LCC analysis system.This is expected to complement the LCC analysis system and improve work productivity.展开更多
Value is the scale that appraises whether the comparison between a certain thing and its realization which we need to consume is rational. The paper appraises the investment value and incomes of human capital by apply...Value is the scale that appraises whether the comparison between a certain thing and its realization which we need to consume is rational. The paper appraises the investment value and incomes of human capital by applying value engineering method. It elaborates the investment structure and contents of human capital first, and then analyzes and summarizes various functions of enterprise's human capital. It educes the production function and the optimum equilibrium solution of human capital on this basis. Finally, it appraises the investment value of human capital by applying VE method. Thus we will apply a new method in the human capital field.展开更多
Product cost is one of the most important factors affecting product market share. Traditionally, product costs are estimated after they are manufactured. However, in this way, the best opportunity to control product c...Product cost is one of the most important factors affecting product market share. Traditionally, product costs are estimated after they are manufactured. However, in this way, the best opportunity to control product cost is lost. In this paper, a method trying to reduce product cost at the design stage is proposed. This method is called Design to Cost (DTC). According to this method, product structure can be optimized with the application of value engineering and Design for Manufacturing/Assembly (DFMA) criteria in the conceptual stage of product design. During embodiment design, products are evaluated economically on the basis of the product model which includes manufacturing, assembly and test cost information. According to the results, products are redesigned before manufacture, and the production cost is reduced.展开更多
Urban transportation is closely related to land use. The changes of transportation cost and accessibility have a direct impact on land use and land prices. Land exploitation and land use play a role of redistributing ...Urban transportation is closely related to land use. The changes of transportation cost and accessibility have a direct impact on land use and land prices. Land exploitation and land use play a role of redistributing traffic flow in the urban districts. Real property values are regarded as a sole comprehensive index representing all the benefits generated by transport investment. We have applied the theory of time value on transportation to land price model to evaluate the increased value of real estate resulting from improved accessibility. Agency responsible for the development of urban transport infrastructure can capture part of the financial benefit gained by real estate development through a variety of value capture. This enables us to transfer indirect benefit of transport infrastructure construction to transport enterprise and achieve a benign cycle between urban transport investment and land exploitation.展开更多
文摘The need for Optimum Value benefit realization on Road Projects in developing countries has become topical. While the traditional Cost Control project management process only aligns actual costs with budgeted costs, Value Engineering (VE) is a sustainable and systematic innovative methodology for establishing the best functional balance among desired features of a project. A Value Engineering (VE) study was conducted with the aim of examining the benefits associated with its use on Road Projects in Ghana. This study employed a two-stage research procedure: desk study and field research. The literature review identified the Optimum Value benefits associated with VE road project management technique as increased Confidence Level in Contract Compliance, reliable Implementation Level of Construction Delivery and enhanced Effectiveness Level of Project Sustainability. A quantitative survey research design based on a purposive sampling technique of selecting respondents was adopted. Employing closed-ended questions, 40 sets of questionnaires were issued to professionals in Road Infrastructure and Support Agencies (RISA) under the Ministry of Roads and Highways (MRH) in the Eastern Region of Ghana. At a response rate of 85%, descriptive statistical analysis (Means, Standard Deviations and Variances) and inferential statistical analysis of variance (ANOVA) test were used to process the data and determine whether there was any significant difference between VE benefit parameters and the groups of respondents. The results revealed that road professionals are familiar with the VE process but solely use Cost Control project management technique. Road professionals recognized the high Optimum Value benefits of professionally ethical Contract Compliance, efficient Construction Delivery and functionally viable Project Sustainability on VE road project management process.
文摘At present,with the rapid development of China's economy,the development of the construction industry has made a new breakthrough.Project management requires the construction industry to continuously play its role and value in improving the ability of project management.Earned value method,which is an important way in the field of project management,enables whole project management to rise to a new height.The specific principle of earned value method will be elaborated by fully introducing the specific role of earned value method in engineering projects to provide a reference and basis for practitioners to improve their management ability.
文摘With the advent of the fourth industrial revolution,the construction industry has undergone a paradigm shift.The smart construction technology market is expected to grow 12%annually in developed countries due to advanced technology investments.It is expected that businesses requiring highly sophisticated technology,for instance companies that need their old facilities upgraded,will become the main focus of the market.As building information modeling(BIM)design is becoming mandatory,such as in the Korea Public Procurement Service,researches regarding building automation,construction,and operation integration management systems based on BIM are conducted.In addition,for construction projects of over 10 billion won,design value engineering(Design VE)implementation,including life cycle cost(LCC)analysis,is mandatory at the design stage to improve quality and reduce the lifetime costs of buildings.In this study,we propose an improvement plan for LCC analysis at the design stage using the KBIMS library,which is an open BIM library developed by the Korean government and research groups.We analyze the existing LCC method,KBIMS library,and attribute information,and model the process that is applied in the LCC analysis system.This is expected to complement the LCC analysis system and improve work productivity.
文摘Value is the scale that appraises whether the comparison between a certain thing and its realization which we need to consume is rational. The paper appraises the investment value and incomes of human capital by applying value engineering method. It elaborates the investment structure and contents of human capital first, and then analyzes and summarizes various functions of enterprise's human capital. It educes the production function and the optimum equilibrium solution of human capital on this basis. Finally, it appraises the investment value of human capital by applying VE method. Thus we will apply a new method in the human capital field.
文摘Product cost is one of the most important factors affecting product market share. Traditionally, product costs are estimated after they are manufactured. However, in this way, the best opportunity to control product cost is lost. In this paper, a method trying to reduce product cost at the design stage is proposed. This method is called Design to Cost (DTC). According to this method, product structure can be optimized with the application of value engineering and Design for Manufacturing/Assembly (DFMA) criteria in the conceptual stage of product design. During embodiment design, products are evaluated economically on the basis of the product model which includes manufacturing, assembly and test cost information. According to the results, products are redesigned before manufacture, and the production cost is reduced.
文摘Urban transportation is closely related to land use. The changes of transportation cost and accessibility have a direct impact on land use and land prices. Land exploitation and land use play a role of redistributing traffic flow in the urban districts. Real property values are regarded as a sole comprehensive index representing all the benefits generated by transport investment. We have applied the theory of time value on transportation to land price model to evaluate the increased value of real estate resulting from improved accessibility. Agency responsible for the development of urban transport infrastructure can capture part of the financial benefit gained by real estate development through a variety of value capture. This enables us to transfer indirect benefit of transport infrastructure construction to transport enterprise and achieve a benign cycle between urban transport investment and land exploitation.