| Title |
A Model of Time Dependent Design Value Engineering and Life Cycle Cost Analysis for Apartment Buildings |
| Authors |
Seo, Kwang-Jun ; Choi, Mi-Ra ; Shin, Nam-Soo |
| Keywords |
Time Dependent VE & LCC ; Fuzzy Logic Theory ; Performance Evaluation ; Value Engineering(VE) ; Life CycleCost(LCC) |
| Abstract |
In the resent years, the importance of VE (value engineering) and LCC (life cycle cost) analysis for apartment buildingconstruction projects has been fully recognized. Accordingly theoretical models, guidelines, and supporting software systemswere developed for the value engineering and life cycle cost analysis for construction management including large buildingsystems. However, the level of consensus on VE and LCC analysis results is still low due to the lack of reliable data onmaintenance. This paper presents time dependent LCC model based value analysis method for rational investment decisionmaking and design alternative selection for construction of apartment building. The proposed method incorporates a timedependent LCC model and a performance evaluation technique by fuzzy logic theory to properly handle the uncertaintiesassociated with statistics data and to analyze the value of alternatives more rationally. The presented time dependent VE andLCC analysis procedure were applied to a real world project, and this case study is discussed in the paper. The model and theprocedure presented in this study can greatly contribute to design value engineering alternative selection, the estimation of thelife cycle cost, and the allocation of budget for apartment building construction projects. |