장기계속계약제도 하에서 고속도로공사 최적공사비 산출방안 정립에관한 연구

Translated title of the contribution: Formal Estimation Method for Optimal Budget Appropriation of Highway Construction Projects under Long-term Continuation Contracts

Research output: Contribution to journalArticlepeer-review

Abstract

In Korea, public infrastructure projects employ “long term continuation (LTC) contracts,” which require budgets to be reevaluated and re-appropriated annually throughout the multi-year life of the project. However, such contracts also make it susceptible to frequently changing government policies, in which budgets required for existing projects are allocated to new projects and thus does not provide a consistent stream of capital to multi-year projects. Each year, the KEC needs to attain government funds for construction of its multiple highway construction sites. Because it is difficult to know the amount that may be actually appropriated to KEC in a given year, it is in turn difficult to anticipate and provide sufficient funds necessary for construction to run smoothly and continuously. The lack of a good logic for appropriation has resulted in projects having a skewed distribution of capital. To get better budget appropriations from the central government, the KEC first needs a systemized approach that rationalizes the annual construction capital optimally required for its individual sites. The goal of this research was to devise a way that allows the KEC to determine and calculate the optimal construction costs that would be required for its individual construction sites on an annual basis. Both the optimal progress rate and the essential work types were assessed through a workshop with 24 professionals (KEC employees and contractors) who had extensive experience in KEC projects and also were currently working in these projects.
Translated title of the contributionFormal Estimation Method for Optimal Budget Appropriation of Highway Construction Projects under Long-term Continuation Contracts
Original languageKorean
Pages (from-to)1405-1412
Number of pages8
Journal대한토목학회논문집(국문)
Volume35
Issue number6
DOIs
StatePublished - Dec 2015

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