| Title |
A Study on the Risk Examination of the Unit Price of Public Housing Construction Projects |
| Authors |
Kim, Soon-Young ; Han, Choong-Hee ; Baek, Tae-Ryong ; Kim, Kyoon-Tai ; Lee, Junbok |
| Keywords |
Unit Price ; the bidding process ; turnkey projects ; the low bid price |
| Abstract |
Currently, the unit price of public construction projects are not being evaluated appropriately for several reasons. First, the evaluation of the unit price differ per nature of the bidding process and its estimation process. In fact, pricing is determined to meet the total price in turnkey projects and to pass the low bid price deliberation process in unit price projects, and thus, such prices cannot be said to be reasonable prices per public project. After the contract is awarded, however, the prices determined without taking into consideration the characteristic of each bidding process and price estimate process are used for the valuation of progress payment, design changes, and escalation. Furthermore, this is also being applied to other low bid deliberation process as actual public project unit price, thereby affecting other processes as well. In effect, this sytem increases the risks for both the owner and the bidder who have determined the unit price. This research examines the risk factor and its extent in order to properly manage it in preparation for the future. |