| Title |
Improvement of contract sum adjustment method caused by price fluctuation using construction cost index |
| Authors |
Cho, Hun-Hee ; Doe, Geun-Young |
| Keywords |
price fluctuation ; adjusted contract sum ; construction cost index ; cost management |
| Abstract |
Index adjusted ratio method has been widely utilized in public construction sector for contract sum adjustment by price fluctuation. In this method, the Production Price Index are used for the base ratio, but the PPI can't reflect the character of construction project in respect of the selected items and weight. In this research we prove the problem of using the index adjusted ration method in contract sum adjustment by price fluctuation, and improve it by using the construction cost index, which has the property of construction project. And we figure out the efficiency of the proposed method by case study. |