• Journal of the Korea Safety Management & 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.

• The Journal of Fisheries Business Administration
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• v.39 no.1
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• pp.63-85
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• 2008

The objective of this study is to review the methodology of economic analysis of fishing ports by examining the economical feasibilities of a national fishing port (Jeongja Port) in Ulsan. This study utilized market value evaluation method to measure the benefits and costs related to the development of ports. The benefit variables are income effects resulting from the developments while the cost variables are sum of construction costs and maintenance costs. The income effects are measured in two ways: (1) income from individual project resulting from the developments, (2) the income effects by utilizing investment multipliers. The results shows that the BC ratio (Benefits/Costs) of Jeongja port by using (1) income from individual project resulting from the developments was 1.07 while the BC ratio by using (2) the income effects by utilizing investment multipliers was 1.10 due to a relative short period of useful life for investment multipliers. However, the income variable utilizing investment multipliers is more sensitive to the period of duration than the income variable from individual project.

• Proceedings of the Korean Geotechical Society Conference
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• 2009.03a
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• pp.1076-1085
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• 2009

Recent heavy rains and typhoons broke down road slopes, which caused a hazard to safety. As a result, interests in the effective investment for disaster prevention is increasing. Measures of investigation method for slope have been taken, but the financial costs have never been analysed. This study applied the cost-benefit analysis theory used in public economics to the evaluation of the financial reasonability of management for slope. By applying cost-benefit analysis to road slope investigation method, the reduction of safety costs and resulting financial benefits can be seen and it also clarifies the reasonability and investment effects of slope management.

• Journal of Environmental Health Sciences
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• v.19 no.2
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• pp.88-99
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• 1993

There has been investments by firms to protect workers' health and to improve their health status. Most of the investments are made on the ground of legal requirement. However many argue that the amount of investments made falls short of the legally required level. One of the reasons why firms are not active in undertaking required investments is that they are not certain whether such investment is economically beneficial to them or not. Using CBA (Cost-Benefit Analysis), this study investigates whether firms' investments on workers' health are economically justifiable or not. All kinds of expected costs and benefits are itemized and calculated, and costs are compared with benefits. The result shows that if firms fully undertake the legally required investments, total expected costs amount to W453.2 billion and expected benefits accruing to reductions from medical care costs, workers compensation costs, litigation costs in case of legal suit, work days lost, and etc. comes up to W2,086.8 billion. In other words, economic benefits from firms' investment on industrial health far outweighs their costs. As the economy grows, the probability of having various occupational disease increases. It is well conceivable from this study outcome that, the higher the probability, the greater the social loss would be, and the greater the benefits from proper investments on workers' health.

• KIEAE Journal
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• v.6 no.1
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• pp.3-10
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• 2006

As has been expected, economic factors are a major consideration in almost every decision in building design process. Assuming that improving a lighting system, existing or proposed, will reduce operating cost, what preliminary economic guidelines can be established to determine whether any proposed investment appears cost effective? In such a case a reasonable technique to compare system costs is by life-cycle costing. Stated simply, a life-cycle cost represents the total cost of a system over its entire life cycle, that is, the sum of first cost and all future costs. This paper aims to exemplify the benefit of daylighting in term of economic consideration. Four different electric lighting system designs are proposed and a lighting control system that is continuously operating according to the level of daylight in the space has been adapted. The accumulated performance of electric and daylighting is figured out to declare the effective depth of daylight in the space. The analysis on the saving amount of lighting energy due to daylight has been undertaken in answer to the question, that is, several projects are being considered, which is the most desirable from the cost-effectiveness viewpoint. The result shows clearly that although denser layout of lighting fixtures might be more effective to interface to the level of daylight ceaselessly changeable, its economic benefit may not meet the expected criterion the reason of increased initial investment and maintenance cost for the fixtures and control hardware.

• Journal of Korea Society of Digital Industry and Information Management
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• v.11 no.4
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• pp.177-187
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• 2015

Although actual business environment is getting difficult and hard, IT companies tend to shy away from of annual investment. Many firms have already reached the 25 percent level. However, the profit and the result of their annual investment needs to be evaluated objectively. IT investment analysis usually proceeds by comparing benefits and costs of an IT investment. Much of the problem derives from the historical treatment of IT as an overhead expense rather than a capital asset. What is most worrying about the current situation is the pressure to take a very short-term view of IT. Therefore, this research aims to analyses and justify the necessity of Visionary IT Investment. For this, it is crucial to identify the factors, which affect positively Visionary IT Investment and understand the role of CIO and explain the result of Visionary IT Investment, which is differed to related business and by different business environment. As a result of this study, the legitimacy of IT Investment is proved through analyzing the business value of not investing and cost-avoidance strategies.

• Journal of Environmental Impact Assessment
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• v.11 no.2
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• pp.93-107
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• 2002

The choice of big public investment project needs an appropriate feasibility analysis before it is implemented, bemuse a rot wisely chosen one would bring about big and longrun societal costs. But the feasibility analysis for the big public investment project in Korea has been done without linking the economic benefits and environmental damages. Consequently social conflicts arose frequently during and after project implementation, owing to such concerns asincreasing costs and serious ecological damages. The recent social conflict over the Saemangeum Project is a typical case. This reclamation project began in 1991 and finished 60% of the whole process in 1999, when its feasibility was again assessed under the public pressure by the joint assessment team consisting of both citizen's and government's professionals. Even the assessment report by this joint team could not show the convincing results owing to the improper assessment procedure and failure to set proper feasibility criteria. This paper pointed out the limitations of our current procedure of feasibility assessment and identified the concrete problems that atosee during the recent reassessment process of the Saemangeum reclamation project by the joint team. In order to improve the current problem-ridden practices, it is concluded by the policy recommendation for establishing a right feasibility assessment procedure for the public investment projects.

• The Journal of the Institute of Internet, Broadcasting and Communication
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• v.15 no.3
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• pp.131-136
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• 2015

The feasibility study is an evaluation and analysis of the potential of a proposed project. It is based on extensive investigation and research to support the process of decision making. A systematic approach to determining the optimum use of scarce resources, involving comparison of two or more alternatives in achieving a specific objective under the given assumptions and constraints. Economic analysis takes into account the opportunity costs of resources employed and attempts to measure in monetary terms the private and social costs and benefits of a project to the community or economy. Cost-benefit analysis (CBA), sometimes called benefit-cost analysis (BCA), is a systematic approach to estimating the strengths and weaknesses of alternatives that satisfy transactions, activities or functional requirements for a business. It is a technique that is used to determine options that provide the best approach for the adoption and practice in terms of benefits in labor, time and cost savings etc. The CBA is also defined as a systematic process for calculating and comparing benefits and costs of a project, decision or government policy and projects.

• Journal of the Korean Society for Aeronautical & Space Sciences
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• v.38 no.9
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• pp.900-906
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• 2010

We analyse benefits and costs of investment on the assurance of aircraft design and development of related infrastructure. Although the discounted cash flow from the sales of aircrafts is found to be smaller than the amount of required investment, the net present value considering the effects of export increase, import substitution, and the accident cost reduction is very high. This justifies governmental investment, for the effects are not easily appropriated by private investors.

• The Journal of Society for e-Business Studies
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• v.15 no.1
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• pp.119-137
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• 2010

The absence of a concrete method for economic analysis is one of the main reasons that the RFID is not so widespread. Through literature survey and a case study of a courier service company we propose a novel method of economic justification including cost and benefit analysis. In order to reflect the uncertainties caused by the RFID technology itself and the estimated investment cost, we propose optimistic, conservative and pessimistic estimations of benefits and a sensitivity analysis of investment costs. This paper may contribute the systematic evaluation of cost and benefit of RFID adoption.