• Korean Journal of Construction Engineering and Management
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• v.7 no.4 s.32
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• pp.177-183
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• 2006

Risk-based estimation has been successfully introduced into the construction industry. By incorporating historical data associated with probability analysis, risk-based estimate is an effective decision support aid in considering whether to launch a particular project. The industry challenges, however, especially related with management issues, such as labor shortage, wage growth, and supply chain complexity, have often resulted in poor cost performance. The insufficient assessing the project characteristics (i.e., resource availability, project complexity, and project delivery method) can be the main reasons in the poor cost performance. Because the accuracy level of cost performance prediction can be enhanced by extensive evaluation of the subject project characteristics, a new approach for predicting cost performance in an earlier stage of a project can improve the Industry substantiality, in other words, value maximization. The purpose of this paper is to develop a new methodology in developing a risk-based estimate tool by incorporating extensive project characteristics. To do this, an extensive industry survey was conducted from both private and public sectors in building industry in Korea. In addition, significant project characteristics were identified in terms of cost performance indicator. Although the data collection is limited to Korean industry the suggested approach provides the industry with a straightforward methodology in risk management. As many researchers maintained that front-end planning efforts are crucial in achieving the successful outcome in building projects, the new method for risk-based estimation can Improve the cost performance as well as enhance the fulfillment in terms of business sustainability.

• Journal of the Korean Institute of Landscape Architecture
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• v.31 no.1
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• pp.11-22
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• 2003

This landscape design proposal was presented to a design competition for the Incheon-city Southern Region Integrated Disposal Treatment Facility. The site is located in Dongchun-dong, Yeonsu-gu, Incheon. The main design concepts are as follows: First, considering connection of the site with surrounding water, inner sea is designed as an environmentally friendly place and as a leisure-sports theme park in which several sports facilities and relaxing places are arranged. It is also designed for everyone: people of all ages, disabled, workers, visitors and local residents. The design was processed on the basis of survey, analysis of surrounding competing facilities and SWOT analysis. Second, the ecological planting model was developed by analyzing the natural vegetation map in the surrounding area and planted vegetation types in the seaside reclamation area. The model was then applied to the ecological community, park area and roadside trees, so as to harmonize with the local habitat. Third, the project is intended to launch private capital for managing the sports park and golf course. This will enable a entrepreneur to make flexible plans for golf training field that is expected to yield a good financial return. It is expected that this design would serve the local residents as a symbolic, environmentally friendly leisure-sports theme park.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.29 no.5D
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• pp.627-634
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• 2009

The BTL (Build-Transfer-Lease) contract of construction project serves as a part for early establishment of industrial foundation for social overhead capital. However, project cost of BTL contract is focused on initial construction cost. Accordingly, operation cost is lowly evaluated because there is no standard criterion for estimating maintenance cost for the facility. The low operation cost can be a factor that reduces service quality of facility operation. This study suggests a resonable method for estimating cost and manpower in the operation phase by using the existing practical data for wastewater treatment plant by BTL contract. The results of the study can be used for evaluating rough operation cost and manpower of similar plant project by facility size.

• The Journal of Engineering Geology
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• v.24 no.4
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• pp.609-613
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• 2014

The Korean Peninsula, located at the southeastern tip of the Eurasian Plate, is known to be tectonically stable, and no critical evidence has yet been found that would override the safety design of nuclear facilities in South Korea. Because a nuclear power plant, like other major social overhead capital facilities, could cause great damage to both the environment and society through an unexpected tectonic event, even one of extremely low probability, like the Fukushima accident, a defense-in-depth safety approach is required in geological and geotechnical site safety evaluation for nuclear projects. This paper introduces the regulatory procedures that are in place to confirm nuclear site safety and site monitoring (e.g., earthquakes and groundwater) systems applied to nuclear facilities in order to reduce inherent uncertainties within the site safety review of geological and seismological issues related with a NPP project.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.26 no.2
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• pp.46-54
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• 2003

SOC(Social Overhead Capital) projects such as road, power plant, airport or telecommunication facility construction require a large scale of cost, a long period of time and management of a number of sub-contractors. So systematic and efficient management tool in SOC projects is inevitable. Information system provides a valuable tool which can integrate and manage the large volume of information for SOC projects. This study investigates and analyzes the information system of nuclear power plant construction project. Based on this study, we can suggest the direction for designing information system for SOC projects.

• Korean Journal of Construction Engineering and Management
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• v.9 no.4
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• pp.182-192
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• 2008

The purpose of this research is to identify problems and solutions of domestic Life Cycle Cost analysis in BTL(Build-Transfer-Lease), a PFI(Private Finance Initiatives) project. It is expected BTL would be quite effective delivery method for public construction introducing the private's major capital investments and technologies, and obviously LCC analysis is becoming more important factor for success of BTL projects. Nevertheless, there are still some complicated issues in LCC analysis, a technique for selecting the optimal VE(Value Engineering) proposals and estimating OM&R (Operation, Maintenance, & Repair) cost of the buildings, and has been applied limitedly. This research mainly focuses on educational facility, as most frequently delivered by BTL currently, especially with two levels (Alternative LCC and Building LCC) , which is occupied main potion in BTL project. In addition, it identifies four main problems and suggests their solutions through case studies focusing six major factors (WBS, Repair Information, Life Cycle, Time value of money, Repair Information Database, LCC Model) from three projects. Advanced development of this research requires closer partnership between the private / public sectors, and their long term strategies.

• Proceedings of the Korean Institute of Navigation and Port Research Conference
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• 2000.11a
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• pp.95-107
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• 2000

The primary purpose of dredging work is to maintain navigational readiness and to increase environmental amenity, so that the dredging project which is composed of excavating, removing, transporting, storing and disposing dredged material must be carefully managed to insure that dredging works are completed in a cost-effective and environmentally safe manner. The most important point in dumping operations is an estimating and reducing the impacts of discharges at the dumping area. One of the most effective method for the reduction of ecological impacts at dumping area is using the schematic process composed of the sophisticated plan, precise work and predicting/reducing the impacts based on the numerical model and field observation. In this study, the numerical model is used to predict the near-field spatial fate and begavior of effluent discharged from Confined Dumping Facility(CDF) located near coastal area. To to this purpose, reappearing of tidal current was preceded. The model is then applied to Mokpo harbor, where capital dredging and maintenance dredging are conducted simultaneously and the CDF is under construction;. In the series of model case study, we found that the near-field behavior of effluent discharged from CDF was governed by the receiving water condition, outfall geometry, characteristics of efflent and CDF operating conditions.

• Journal of Korean Port Research
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• v.14 no.4
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• pp.429-439
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• 2000

The primary purpose of dredging work is to maintain navigational readiness and to increase environmental amenity. Therefore the dredging project, which is composed of excavating, removing, transporting and storing or dumping dredged material, must be carefully managed to insure that dredging works are completed in a cost-effective and environmentally safe method. The most important point in dumping operations is evaluating and decreasing the impacts of dumping works at the dumping area. One of the most effective method for this purpose is using the schematic process composed of the sophisticate plan, precise work and predicting/reducing the impacts based on an numerical model being closely linked with field observation. In this study, a numerical model is used to predict the spatial transport and fate of the effluent discharged from the confined dumping facility(CDF) located at a coastal area. To achive this purpose, numerical models were used for reappearing the tidal current of concerned area. These models were then applied to Mokpo harbpr where capital dredging and maintenance dredging are being conducted simultaneously and the CDF is under construction. In series of model case study, we found that the effluent discharged from CDF was governed by the receiving water condition and outfall geometry, so that limit of near-field was 14∼500 meter down stream and 4∼150 meter in transverse direction. dilution ranged from 1.1 to 8.2 on the cases. Long-term diffusion characteristics was governed by the dilution rate during near-field behavior, ambient conditions and CDF operation modes.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.31 no.2D
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• pp.285-293
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• 2011

Sewage treatment facilities are growing rapidly in quantitatively and qualitatively. However, privatization such as up-size and professionalism, etc. are insufficient, compared to global companies' cases. Infrastructure Asset management has not been applied widely despite of sewage treatment facilities are one of the most critical social infrastructure. Maintenance, repair, and rehabilitation (R&R) practices of sewage treatment facilities have been studied and infrastructures asset management techniques have been applied. Cost model which makes it possible to calculate managerial costs such as major cost, etc. needs to be developed only with project basic information when proceeding new sewage treatment facility construction and management and overseas sewage project. Effects to converse major repair cost into capital, application of sewage treatment facility's asset management, expected effects, etc. were analyzed and suggested an alternative on the improvements of legal system.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.28 no.1D
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• pp.107-117
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• 2008

Private financing is playing an increasing role in public infrastructure construction projects worldwide. However, private investors/operators are exposed to the financial risk of low profitability due to the inaccurate estimation of facility demand, operation income, maintenance costs, etc. From the operator's perspective, a sound and thorough financial feasibility study is required to establish the appropriate capital structure of a project. Operators tend to reduce the equity amount to minimize the level of risk exposure, while creditors persist to raise it, in an attempt to secure a sufficient level of financial involvement from the operators. Therefore, it is important for creditors and operators to reach an agreement for a balanced capital structure that synthetically considers both profitability and repayment capacity. This paper presents an optimal capital structure model for successful private infrastructure investment. This model finds the optimized point where the profitability is balanced with the repayment capacity, with the use of the concept of utility function and multi-objective GA (Generic Algorithm)-based optimization. A case study is presented to show the validity of the model and its verification. The research conclusions provide a proper capital structure for privately-financed infrastructure projects through a proposed multi-objective model.