Assessment of Project Cost Reduction Potential Adopting Cases-Synthetic Approach - Focused on the Apartment Building Construction Project -

The primary focus of this study has been directed towards assessing the potential impact of construction method improvement on a reduction in project cost. A total of 90 actual application cases were collected from a public organization and private construction firms, and 32 cases were used in analysis by adopting a synthetic approach. The level of cost reduction was measured in terms of material and labor cost by comparing the existing method and the improved method. An analysis of the results indicates that project cost can be reduced by up to 5.26 percent compared to a normal project by adopting a synthetic approach. Additional benefits include the assurance of uniform quality, savings in terms of labor and/or materials, and improved productivity. The potential of the applicability of this approach to other types of buildings and the implications of research findings were discussed in detail.