| Title |
A Study on the Optimal Project Process Method for Remodeling Construction Projects |
| Authors |
Yun Dae-Jung ; Kim Sang-Chul ; Paek Joon-Hong |
| Keywords |
Remodeling ; Construction time-saving ; Value-added ; Contract & Bid ; Cost+Time |
| Abstract |
Remodeling construction clients are increasingly requesting value-added planning, delivery, and bids that require bidders to submit both the bid price and project duration. Ultimately, the clients are struggling to improve their building's value. In these situations, contractors face the challenge of deciding not just the bid price but also the optimal combination of these multiple factors. An important consideration is the cost of time involving the Net Operating Income(NOI) for the client. This varies from contract to contract and is usually expressed in terms of unit time value such as liquidated damages rate or, for remodeling, Daily Building User Cost(DBUC). In order for remodeling to be optimal, several factors must be considered. First, the value of a building must increase, which means the pre-planning stage must take on a bigger role. Second, various delivery methods must be applied in order to fill the needs of each individual projects. Lastly, when in the bidding phase, one must not only take into consideration the cost factor, but the time factor as well. This study is expected to be used as an optimal project process method for remodeling project so that the clients can be better equipped with the combined concept of value, price and time. |