• Title, Summary, Keyword: cost-benefit analysis

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A study on the Dynamic Cost-Benefit Analysis with System Dynamics: Modeling and Economic Feasibility (시스템 다이내믹스 기법을 활용한 동태적 비용편익분석 모델구축과 사업성 평가에 관한 연구)

  • 최남희;전재호
    • Korean System Dynamics Review
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    • v.3 no.2
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    • pp.113-140
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    • 2002
  • The cost-benefit analysis is a technique for assisting with decision about the use of society's scare resources. There exists no detailed assessment like cost-benefit analysis. But recently, many policy analysts criticized the merit of cost-benefit analysis. As it is, it can be said that partial or approximate estimates of benefit and cost may be more dangerous than helpful. The purpose of this study is to overcome the limit of traditional cost-benefit analysis. For this purpose, we use the system dynamics approach for setting up new cost-benefit analysis, which we named that ‘Dynamics Cost-Benefit Analysis'. The usefulness of ‘Dynamics Cost-Benefit Analysis' is as follows; finding structural causal relationship between cost factors and benefit factors, understanding the long-term behavior of systems economic feasibility. In this study, we apply 'Dynamic Cost-Benefit Analysis' to case that is construction investment of funeral house by local government sector.

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Cost , Benefit Analysis of Operation System Change in the Hospital Foodservice (대학병원 영양부서 운영체계 변경의 비용.편익분석)

  • Kim, Hyeong-Mi;Yang, Il-Seon;Park, Eun-Cheol;Im, Hyeon-Suk
    • Journal of the Korean Dietetic Association
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    • v.6 no.1
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    • pp.33-43
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    • 2000
  • Environmental pressures from such sources an economic condition, the government and inter-institutional competition create managerial challenges. Economic pressures may be forcing dietetic dept, in hospital to utilize cost∙benefit analysis to assist them in their problem solving. Cost∙benefit analysis have been widely used in business, industry and many other fields with only limited application to foodservice. Due to the lack or this information the purposes of this study were to identify use of cost∙benefit analysis in hospital foodservice system to evaluate the economic efficiency of alternatives, and to make recommendation for operation system change. Using the cost∙benefit method, cash flows are separated into cost and benefits. For an alternative to be selected, indicators, such as NPV, benefit-cost ratio (B/C ratio) with 5% discount rate per annum. The sensitivity analysis was also conducted with difference rate 3%, 7% respectively and reduced employee payroll change. The result of this study can be summarized as follows : 1. The total cost of investment for operation system change was 390,570 thousand won and the total benefit through operation system change was 865,808 thousand won. 2. Net present value(NPV) for 5 years was 475,239 thousand won and benefit-cost ratio was 2.22. 3. In sensitivity analysis with different discount rate 3%, 7%, benefit-cost ratio was 2.25, 2.18 respectively, with total reduced employee payroll change, benefit-cost ratio was 2.86. In conclusion, total benefits were exceeded total costs. Therefore, the project of operation system change in hospital foodservice was found to be economically efficient.

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A Study on the Benefit-Cost Analysis of Photovoltaic System in the Greenhome (그린홈 적용 태양광 발전시스템의 편익비용분석에 관한 연구)

  • Jung, Soon-Sung
    • Journal of the Korea Society For Power System Engineering
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    • v.18 no.3
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    • pp.112-117
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    • 2014
  • The purpose of this study is to suggest the benefit-cost analysis for photovoltaic system in greenhome. Perspectives of benefit-cost analysis for photovoltaic system in greenhome is participant, non-participant, administrator and nation. This study identifies the cost and benefit components and benefit-cost calculation procedures from four major perspectives : participant, non-participant, administrator and nation. The results of benefit-cost analysis from each perspective can be expressed in a variety of ways, but in all cases it is necessary to calculate the net present value of photovoltaic system impacts over the lifecycle of those impacts.

Cost-Benefit Analysis for Safety Management Cost using Quantitative Risk Analysis (정량적 위험성 평가에 의한 안전관리 투자의 비용-편익분석)

  • 장서일;조지훈;김태옥
    • Journal of the Korea Safety Management and Science
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    • v.4 no.4
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    • pp.15-26
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    • 2002
  • The quantitative evaluation method of the safety management cost was suggested to prevent a gas accident as a major industrial accident. In a gas governor station, process risk assessments such as the fault tree analysis(FTA) and the consequence analysis were performed. Based on process risk assessments, potential accident costs were estimated and the cost-benefit analysis(CBA) was performed. From the cost-benefit analysis for five classification items of safety management cost, the order of the cost/benefit ratio was estimated.

Cost-Benefit Analysis of Electrical Safety Speed-call Service Using Electrical Fire Statistics Analysis and Outcome Analysis Logic Model (전기화재 통계 및 성과 분석 모델을 이용한 전기안전 긴급출동 고충처리 서비스의 비용 편익 분석)

  • Jeon, Jeong Chay;Yoo, Jae-Geun
    • The Transactions of The Korean Institute of Electrical Engineers
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    • v.65 no.11
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    • pp.1943-1947
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    • 2016
  • Korea Electrical Safety Cooperation(KESCO) have provided the electrical safety speed-call service from 2007 year. Purpose of the service is to reduce discomfort of electricity use and to prevent electrical accident like as electrical fire and shock accident by providing emergency treatment service on fault of the residential electrical facilities notified in the specific house like as a lower-income group and a social welfare facility. But efficiency and economic evaluation of the electrical safety speed-call service is impossible because analysis on the quantitative effect of the service is difficult. This paper presents cost-benefit analysis method and result of the electrical safety speed-call service. The presented cost-benefit analysis method has a two-step process: the first step is to measure quantitative electrical fire prevention effect of the service by using electrical accident statistics and developing outcome analysis logic model of the service effect, and the second step is to analysis cost-benefit(B/C)of the service by calculating quantitative benefit analysis on the measured quantitative electrical fire prevention effect. The results showed that cost-benefit(B/C)of the electrical safety speed-call service is over 4 after 2010 year.

An Evaluation of Effects on Hypertension and Diabetes Mellitus Management of a Community-Based Nursing Care Center Using Cost-Benefit Analysis (비용편익분석을 이용한 일 재가노인간호센터의 고혈압 및 당뇨관리 효과평가)

  • Lim, Ji-Young;Im, Jung-Nam;Kim, In-A;Ko, Su-Kyoung
    • Journal of Korean Academy of Nursing Administration
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    • v.16 no.3
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    • pp.295-305
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    • 2010
  • Purpose: This study was conducted to evaluate the economic efficiency of a community-based nursing care center to help policy makers determine whether or not to invest in similar facilities. Methods: The subjects were 101 elderly people over 65 years who participated in a health management program from February 1 to July 31, 2007. Direct cost was estimated with center operations cost, medical cost for out-patients and pharmacy cost. Indirect cost was measured by transportation cost. Direct benefit was calculated by saved medical cost for out-patients, saved pharmacy cost, saved transportation cost, and reducing hospital charges. Indirect benefit was estimated with prevention of severe complications. Economic efficiency was evaluated by cost-benefit ratio and net benefit. Results: Operating a community-based nursing care center was found to be cost-effective. Specifically, the cost of operating the center evaluated here was estimated at 135 million won while the benefit was estimated at 187 million won. Benefit-cost ratio was 1.38. Conclusion: The Community-based nursing care center that was described here could be a useful health care delivery system for reducing medical expenditures.

Economic Analysis of the Piezoelectric Power using the California Standard Test (캘리포니아 표준 테스트 방법을 사용한 압전 발판의 경제성 분석)

  • Jung, Soon-Sung
    • Journal of the Korea Society For Power System Engineering
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    • v.21 no.4
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    • pp.51-56
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    • 2017
  • The purpose of this study is to suggest economic analysis for piezoelectric power. Economic analysis method uses california standard test. Perspectives of california standard test is participant test, ratepayer impact measure test, program administrator cost test and total resource cost test. This study identifies the cost and benefit components. This study identifies benefit-cost calculation procedures from four test : participant test, ratepayer impact measure test, program administrator cost test and total resource cost test. In the economic analysis, the order of benefit cost ratio in piezoelectric power shows total resource cost test, program administrator cost test, ratepayer impact measure test and participant test.

Cost-benefit Analysis in Certification of Devices and Equipments Used in Farm Work (농작업 편이장비 안전인증의 비용-편익 분석)

  • Choi, Gi Heung
    • Journal of the Korean Society of Safety
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    • v.27 no.6
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    • pp.1-6
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    • 2012
  • This study focuses on the benefit-cost analysis of certification of more than eight hundred devices and equipments used primarily in farm work. Specifically, EPA-suggested averting behavior approach was used for the analysis. Cost-benefit analysis indicates that there will be a net cost of 30 billion won for the first year since the introduction of the certification system. It is expected, however, that net benefit of 568 billion won after 11 years and the accumulated net benefit will reach to 3,867 billion won. These results validate the introduction of safety certification systems for devices and equipments used in farm work sites.

Cost-benefit Analysis of Home Visiting Care for Vulnerable Populations with Hypertension (취약계층 고혈압 대상자를 위한 방문건강관리사업의 비용편익분석)

  • Ko, Young;Lee, In-Sook
    • Journal of Korean Academy of Community Health Nursing
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    • v.22 no.4
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    • pp.438-450
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    • 2011
  • Purpose: This study was to investigate the effect of home visiting care service and to evaluate the effect from the cost-benefit perspective. Methods: Target participants were enrolled in 2007~2008 for home visiting care and provided with a home visiting nursing service for more than 18 months in J Ward of S City. Of 391 participants, 244 who satisfied the inclusion criteria were used in the final analysis. Cost-benefit analysis was done using the net benefit and benefit/cost ratio. Results: After providing the home care nursing service, the blood pressure control rate increased from 50.8% to 75.4%. Of the subjects, 39.8% maintained their blood pressure level within the target range. As a whole, the net benefit of home visiting care per person ranged from 434,964.86 to 447,112.43 won and the benefit/cost ratio ranged from 2.82 to 2.84. Conclusion: Home visiting care for vulnerable populations with hypertension was effective in both maintaining blood pressure and reducing blood pressure to the target range. Therefore these results are especially useful for establishing the value of home visiting services for policy makers as well as for prioritizing vulnerable populations.

Cost and Benefit Analysis for Safety Management Cost by FMEA/HAZOP at Governor Station (가스 공급기지에서 FMEA/HAZOP에 의한 안전관리 비용-편익분석)

  • 장서일;이헌창;조지훈;오신규;김태옥
    • Journal of the Korea Safety Management and Science
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    • v.3 no.4
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    • pp.1-9
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    • 2001
  • Cost-benefit analysis was investigated to propose the analysis method of the effect of investment and the optimum investment level of safety management cost for preventing gas accident in the B governor station. From five classifications of safety management costs consisting of cost items with similar characters and potential accident costs calculated by risk assessments(FMEA/HAZOP), we found that the order of the benefit(the reduction cost of the potential accident cost) was the instrument increase and repair cost > the safety checking and inspection cost > the labor and training cost > the safety equipment and corresponding cost > the research and development cost. As the benefit was increased with increasing the investment cost, the effect of investment was increased with decreasing the Investment cost. As a result, the optimum safety management cost was estimated and the investment level was analyzed by the model of optimum investment level.

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