Time-cost relationships of building construction project in Korea

摘要

Purpose - Time is an important factor in any project, especially in construction projects. Althoughrnusing detailed scheduling techniques is unavoidable, a model to predict or benchmark time performancernhas interested many researchers. For an exploratory purpose, this paper aims to investigate the time-costrnrelationship proposed by Bromilow with data from construction projects in Korea.rnDesign/methodology/approach - The data are collected from 34 historical building projects inrnKorea. Construction cost is adjusted using a building price index. Analysis is carried out on variety ofrnproject characteristics.rnFindings - It is shown that a time-cost relationship is applicable to the Korean construction industry.rnFurther analysis indicates that the original Bromilow time-cost model is not the best fit regressionrnform, and alternative models are proposed.rnResearch limitations/implications - The data are limited to a small sample of 34 buildingrnprojects. This limitation arises because of the data collection approach, which is direct contact withrnhistorical project documents supplied by construction firms.rnOriginality/value - Models from this study can serve as a reference tool for practitioners in thernearly stages of building projects in Korea. The results from this study are not intended to reject orrnreplace detailed construction scheduling techniques.