• Title, Summary, Keyword: cost-benefit analysis

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Evaluating the economic impact of R&D investments - Improvement of measurement reliability - (R&D 사업의 경제적 파급효과 측정 - 산업측정 신뢰도 제고사업을 중심으로 -)

  • Choi, Seung-Il;Kim, Jin-Ho;Jho, Moon-Jae;Hwang, In-Keuk
    • Journal of the Korea Academia-Industrial cooperation Society
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    • v.8 no.4
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    • pp.946-951
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    • 2007
  • R&D institutes, supporting development in industry, are required to provide an economic basis of their R&D investments. In this paper, we apply prospective cost-benefit analysis to evaluate the economic impact of R&D investments. We compute main metrics with cost and benefit estimated via counter-factual evaluation model. Among many projects of KRISS to improve measurement reliability, three projects are evaluated by applying prospective cost-benefit analysis.

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The Cost-benefit Analysis of the Community Care Service Centers for the Elderly (재가노인복지사업의 비용편익 분석)

  • Won, Jong-Wook;Han, Hye-Kyung;Hwang, Sung-Chul;Kim, Jung-Hee
    • Korean Journal of Social Welfare
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    • v.43
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    • pp.270-298
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    • 2000
  • Government provides financial support to the 74 Home help service centers, 36 Day care service centers, and 18 Short stay service centers for the elderly. The number of service centers that receive financial support from the government is far less to meet the potential demand for the community care services. This paper applies cost-benefit analysis to evaluate the net social benefit of the services provided by the 3 types of the community care service centers sponsored by the government to justify the expansion of the government support. The benefit is calculated as community care services are provided privately in the market without financial support from the government. The potential market price is regarded as the benefit or value provided to the elderly. The price levels that potential users are willing to pay for these services are surveyed in the Census for the Elderly by the KIHASA, 1998. The market prices for the community services are generated by equating limited amount of service supply, as in number of users in one year in 3 types of community care service centers, and potential demand for the services. Market prices are multiplied to the number of users of 3 types of community centers to get the total benefit. Total operating cost of the community care service centers is regarded as cost. According to the cost-benefit analysis, Home-help service centers generated net social benefit of 137 billion Won, Day Care service centers generated 15 billion Won, and Short stay service centers generated 6 billion Won. Significant amount of net social benefit indicates that government should increase level of financial support to these service centers.

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Economic Evaluation of IT Investments for Emergency Management : A Cost-centric Control Model

  • Kim, Tae-Ha;Lee, Young-Jai
    • Journal of Information Technology Applications and Management
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    • v.15 no.3
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    • pp.195-208
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    • 2008
  • In an emergency management case, evaluating the economic value of information technology investments is a challenging problem due to the effects of decision making, uncertainty of disasters, and difficulty of measurements. Risk assessment and recovery process, one of the major functions in emergency management, consists of (1) measurement of damages or losses, (2) recovery planning, (3) reporting and approving budgets, (4) auctioning off recovery projects to constructors, and (5) construction for the recovery. Specifically and of our interest, measurement of damages or losses is often a costly and time-consuming process because the wide range of field surveys should be performed by a limited pool of trained agents. Managers, therefore, have to balance accuracy of the field survey against the total time to complete the survey. Using information technologies to support field survey and reporting has great potential to reduce errors and lowers the cost of the process. However, existing cost benefit analysis framework may be problematic to evaluate and justify the IT investment because the cost benefit analysis often include the long-run benefit of IT that is difficult to quantify and overlook the impact of managerial control upon the investment outcomes. Therefore, we present an alternative cost-centric control model that conservatively quantifies all cost savings to replace benefits in cost benefit analysis and incorporate the managerial control. The model provides a framework to examine how managerial decision making and uncertainty of disaster affect the economic value of IT investments. The current project in Emergency Agency in South Korea is introduced as a case to apply the cost-centric control model. Our work helps managers to better evaluate and justify IT-related investment alternatives in emergency management.

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Using Cost-Benefit Analysis for a Feasibility Study on Constructing a Storage Facility in the Small River Basin (비용편익 분석을 통한 소하천유역의 저류조 설치 타당성 분석연구)

  • Seo, Se-Deok;Lee, Seung-Wook;Park, Hyung-Keun
    • Journal of The Korean Society of Civil Engineers
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    • v.36 no.1
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    • pp.135-141
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    • 2016
  • This study aims to analyze the feasibility of installing a storage facility and make recommendations based on a cost-benefit analysis regarding the installation of a storage facility capable of preventing both floods and droughts. The capacity and installation costs are specified for the storage facility necessary to prevent floods, and a cost-benefit analysis is conducted by calculating the costs and benefits for each cost or benefit factor such as loss amounts, recovery costs, and drought prevention. The information can be used as the basic data for suggesting the feasibility of installing a multipurpose storage facility capable of preventing floods and droughts simultaneously. Also, this study expects to utilize its detailed results in a number of different ways including the prediction of loss amounts from natural disasters.

A Study on Use Evaluation of Electronic Journals (전자저널의 이용평가에 관한 연구: Y대 도서관의 IDEAL을 중심으로)

  • 손정표;심상순
    • Journal of Korean Library and Information Science Society
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    • v.32 no.4
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    • pp.419-447
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    • 2001
  • This study is to analyze a cost-benefit and a cost-effectiveness on the basis of number full-text downloaded from IDEAL in the electronic journals consortium of Y University Library during 2000. The result of this study shows that Y University Library used more the combined print and electronic journals than only electronic journals, and in the case of the analysis on the cost-benefit, there was no benefit, but the cost-effectiveness was very high. Based upon the result of this study, it suggests that academic libraries request a trial from the information agency and carry out user instruction analysis of varied use statistics, user satisfaction survey so as to promote use of electronic journals.

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A Study On Cost/Benefit Analysis in the Economic Evaluation of GSIS Implementation (GSIS 도입의 경제적 평가에 있어서 비용/효과 분석에 관한 연구)

  • Kim, Joo-Hwan;Yom, Jae-Hong;Sohn, Duk-Jae;Yeon, Sang-Ho
    • Journal of Korean Society for Geospatial Information System
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    • v.1 no.1
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    • pp.217-225
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    • 1993
  • The cost/benefit analysis method is frequently used in the feasibility study of investments on geo-spatial information system. The cost/benefit analysis method has been applied extensively in the feasibility study of conventional information systems and recently efforts has been made to apply this method to geo-spatial information systems as well. This study efforts were made to present a cost/benefit model suitable for Korean GSIS and this model was then applied to Facility Management. In establishment of the cost model, the items of various costs were defined and a survey was made to find the average unit cost of each item. For the benefit model, the benefits of implementing a geo-spatial information system is classified into tangible and intangible benefits and only th tangible benefits were further classified. The established cost/benefit model was then applied to a gas distribution company with more than 100 employees and more than 300,000 customers. A GSIS was designed and the cost its implementation was compared to the present manual method of operation.

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A Cost Benefit Analysis for the Voluntary IMO Member State Audit (IMO 회원국 감사제도 (MAS) 시행에 따른 비용편익분석)

  • Jun, Sang-Yup;Kim, Young-Mo
    • Proceedings of KOSOMES biannual meeting
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    • pp.33-40
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    • 2006
  • To promote the consistent and effective implementation of IMO instruments such as SOLAS, MARPOL, STCW, LL, TONNAGE, COLREG IMO has adopted voluntary IMO member state audit. This audit scheme is voluntary audit which will be carried out on a voluntary basis, at the request cf the member state to be audited. Nevertheless, the Korea government is preparing the implementation of the audit scheme to strengthen the competitiveness in shipping and shipbuilding industries. In this paper, we investigated the actual conditions of implementation of mandatory IMO instruments and carried out a feasibility study by assessing the cost to be audited and positive effects expected by introducing the audit scheme. As a result of cost benefit analysis we obtained high benefit-cost ratio.

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Cost-Benefit Analysis of the Farmer's Health Center Project (FHCP) in Rural Korea (농업인건강관리실 사업의 비용편익 분석)

  • Hwang, Dae-Yong;Kang, Kyeong-Ha;Lee, Soon-Sung;Ko, Jeong-Sook;Oh, Seung-Young
    • Journal of Agricultural Extension & Community Development
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    • v.13 no.2
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    • pp.313-327
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    • 2006
  • This study aims to examine the operating status of the Farmer's Health Center Project and the validity of its business using the benefit-cost analysis. As the pilot project of the Rural Development Adminstration from 1996, a total of 884 Farmer's Health Centers were established until 2004. Internal information of the RDA management unit was used for the analysis. A questionnaire with an interview was also performed with 70 over 468 Centers that had been established from 2001 to 2004. Results were as follows. 1) The Center was mainly used by elderly over 60 years, which took 71.4%. Winter was the most popular season for visiting. 2) Approximately 71% of the manager of the Center pointed out the deficiency of fuel cost as the most difficulty in operating the Center. 3) Users were moderately satisfied with facility and the effect of its use, which took 3.5 point over 5 scale. 4) For the cost-benefit analysis on the Centers, both 5% of social discount rate and 15 years of use term were assumed. Subsequently, the Net Present Value was 3,134 million won, which certified the validity of the business.

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A Cost Benefit Analysis for the Voluntary IMO Member State Audit (IMO 회원국 감사제도(MAS) 시행에 따른 비용편익분석)

  • Jun Sang-Yup;Kim Young-Mo
    • Journal of the Korean Society of Marine Environment & Safety
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    • v.12 no.3
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    • pp.201-209
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    • 2006
  • To promote the consistent and effective implementation of IMO instruments such as SOLAS, MARPOL, STCW, LL, TONNAGE, COLREG IMO has adopted voluntary IMO member state audit. This audit scheme is voluntary audit which will be curried out on a voluntary basis, at the request of the member state to be audited Nevertheless, the Korea government is preparing the implementation of the audit scheme to strengthen the competitiveness in shipping and shipbuilding industries. In this paper, we investigated the actual conditions of implementation qf mandatory IMO instruments and curried out a feasibility study by assessing the cost to be audited and positive effects expected by introducing the audit scheme. As a result of cost benefit analysis we obtained high benefit-cost ratio.

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Development of a Process Centered RFID Cost-Benefit Analysis Model and Tool (RFID 도입에 대한 프로세스 중심 비용편익분석 모형 및 툴 개발)

  • Jeong, Jee-Hoon;Lee, Yong-Han
    • The Journal of Society for e-Business Studies
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    • v.13 no.3
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    • pp.173-188
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    • 2008
  • While many success stories are reported in the area of RFID applications, actual RFID deployments in industry are being realized a lot slower than expected. One of the main reasons for that is the lack of decision makers' understanding on the RFID ROI. In this research we drew a comprehensive list of cost and benefit items regarding RFID deployments especially for distribution and retail industry. In addition, we mapped these cost/benefit items to corresponding SCOR processes so that users can easily utilize the suggested cost-benefit analysis model when they want to improve their own processes using the RFID technology. The developed cost-benefit analysis model was implemented as a software tool for convenient use. Our research results can be used not only for those who want to evaluate the RFID technology prior to actual deployment but also by the researchers in this area.

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