| Title |
Risk based Value Index Evaluation Model for Modular Design Alternatives in Plant Construction Projects |
| DOI |
https://dx.doi.org/10.6106/KJCEM.2022.23.5.098 |
| Keywords |
Modular Plant Construction; Modular Design; Risk Events; Risk Reserve; Risk based Value Index |
| Abstract |
The purpose of this study is to suggest a model for evaluation of a risk based value index for modular design alternatives in plant construction projects. Accordingly, 1) Setting the basic project cost and the scope to apply the module, 2) Evaluating the importance, easiness, and effectiveness index for Engineering, Procurement, Fabrication, transportation, and construction work, 3) Estimating the total project cost by analyzing the risk reserve Step, 4) Comparing the effectiveness index and total project cost for each modular design alternative, it was composed of the steps of deriving RVI. To verify such a model, Plan-A, which applied a module to one process, and Plan-B, which applied a module to three processes, were composed to evaluate RVI. |