| Title |
A Benchmarking Study on CM Fee Estimation |
| Authors |
Kim, Sang-Bum ; Lee, Jeong-Dae ; Kim, Jae-Wook |
| Keywords |
CM Fee Guidelines ; Benchmarking ; Cost Plust Fixed Fee |
| Abstract |
The Korean Construction Industry significantly contributed to the Korean economic development not only by preparing the domestic infrastructure but also by successfully conducting various international projects. However, major incidents such as the collapse of Sung-Su Bridge and Sam-Pung Department Store along with stagnation of Korean Economy have raised questions about underlying systematic problems of the Korean Construction Industry. As a solution to resurrect the Korean Construction Industry, the Construction Management (CM) system introduced in late 1990’s and increasingly utilized as an innovative delivery system. Despite of the fast growth of CM, the performance of CM has not been up to the hype and low CM fee has been identified as one of the main reasons of unsatisfactory CM performance. Therefore, this research attempted to propose ways of improving ‘CM Fee Guidelines’published by Korean Ministry of Construction and Transportation by conducting a benchmarking study on Global Standards of estimating CM Fee. International organizations benchmarked in this research include CMAA, ASCE, DOL, DOE, etc. Various investigation and analysis revealed that Korean‘ CM Fee Guidelines’need to significantly modified comparing to Global Standards. This research also tried to prepare recommendations to improve the CM deliver system focusing on the‘ Method of CM Fee Estimation’and‘ Selection of a CM firm as an owner’s agent. |