• Title/Summary/Keyword: Economic loss

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The Simplified Economic Evaluation of Extra-High Voltage Distribution System in the Large Apartment Complex (대단위 아파트에서 특고압 배전시스템의 경제성 평가)

  • Yun, Man-Soo;Chung, Chan-Soo;Park, Hyung-Joon
    • Journal of the Korean Institute of Illuminating and Electrical Installation Engineers
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    • v.21 no.3
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    • pp.117-124
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    • 2007
  • This paper is about the Extra-High voltage distribution system in the customer's area. The power loss in the distribution system in the customer's area is disregarded and rarely managed so far. But, economically, this loss is not small quality to ignore. So, in this paper, we calculate the power loss of the Extra-High voltage distribution system in the customer's area by changing the locations of power transformer and other power facilities to decrease power loss in decreased secondary line length. And we also show the payback time of the proposed Extra-High voltage distribution system in the customer's area by simplified calculations.

The Effect of Meteorological Information on Business Decision-Making with a Value Score Model (가치스코어 모형을 이용한 기상정보의 기업 의사결정에 미치는 영향 평가)

  • Lee, Ki-Kwang;Lee, Joong-Woo
    • Journal of Korean Society of Industrial and Systems Engineering
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    • v.30 no.2
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    • pp.89-98
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    • 2007
  • In this paper the economic value of weather forecasts is valuated for profit-oriented enterprise decision-making situations. Value is estimated in terms of monetary profits (or benefits) resulted from the forecast user's decision under the specific payoff structure, which is represented by a profit/loss ratio model combined with a decision function and a value score (VS). The forecast user determines a business-related decision based on the probabilistic forecast, the user's subjective reliability of the forecasts, and the payoff structure specific to the user's business environment. The VS curve for a meteorological forecast is specified by a function of the various profit/loss ratios, providing the scaled economic value relative to the value of a perfect forecast. The proposed valuation method based on the profit/loss ratio model and the VS is adapted for hypothetical sets of forecasts and verified for site-specific probability of precipitation forecast of 12 hour and 24 hour-lead time, which is generated from Korea meteorological administration (KMA). The application results show that forecast information with shorter lead time can provide the decision-makers with great benefits and there are ranges of profit/loss ratios in which high subjective reliability of the given forecast is preferred.

Analysis of Typhoon Vulnerability According to Quantitative Loss Data of Typhoon Maemi (태풍 매미의 피해 데이터 기반 국내 태풍 취약성 분석에 관한 연구)

  • Ahn, Sung-Jin;Kim, Tae-Hui;Kim, Ji-Myong
    • Proceedings of the Korean Institute of Building Construction Conference
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    • 2019.05a
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    • pp.125-126
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    • 2019
  • This study aims to recognize damage indicators of typhoon and to develop damage function's indicators, using information derived from the actual loss of typhoon Maemi. As typhoons engender significant financial damage all over the world, governments and insurance companies, local or global, develop hurricane risk assessment models and use it in quantifying, avoiding, mitigating, or transferring the risks. For the reason, it is crucial to understand the importance of the risk assessment model for typhoons, and the importance of reflecting local vulnerabilities for more advanced evaluation. Although much previous research on the economic losses associated with natural disasters has identified the risk indicators that are indispensable, more comprehensive research addressing the relationship between vulnerability and economic loss are still called for. Hence this study utilizes and analyzes the actual loss record of the typhoon Maemi provided by insurance companies to fill such gaps. In this study, natural disaster indicators and basic building information indicators are used in order to generate the vulnerability functions; and the results and indicators suggest a practical approach to create the vulnerability functions for insurance companies and administrative tasks, while reflecting the financial loss and local vulnerability of the actual buildings.

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Association between the oral health status and the economic factor among Korean adults (한국 성인의 사회경제적 요인과 구강건강수준간의 연관성)

  • Jeong, Mi-Ae;Kim, Min-Ji;Ha, Jung-Eun
    • Proceedings of the Korea Contents Association Conference
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    • 2014.11a
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    • pp.411-412
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    • 2014
  • The objective of this study was to evaluate relationships between the economic status and the oral health status. Data were obtained from the National Health Insurance Corporation database. The prevalence of dental caries and tooth loss were compared among the ten-percentile according to the level of the monthly income. The prevalence of dental caries and tooth loss were lower in the high level of monthly income than low level of monthly income group. There was a significant relationships between the economic status and the oral health status.

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Supplementary analyses of economic X over bar chart model

  • Jeon, Tae-Bo
    • Korean Management Science Review
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    • v.12 no.1
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    • pp.111-124
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    • 1995
  • With the increasing interest of reducing process variation, statistical process control has served the pivotal tool in most industrial quality programs. In this study, system analyses have been performed associated with a cost incorporated version of a process control, a quadratic loss-based X over bar control chart model. Specifically, two issues, the capital/research investments for improvement of a system and the precision of a parameter estimation, have been addressed and discussed. Through the analysis of experimental results, we show that process variability is seen to be one of the most important sources of loss and quality improvement efforts should be directed to reduce this variability. We further derive the results that, even if the optimal designs may be sensitive, the model appears to be robust with regard to misspecification of parameters. The approach and discussion taken in this study provide a meaningful guide for proper process control. We conclude this study with providing general comments.

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Quantitative Hazard Analysis of Information Systems Using Probabilistic Risk Analysis Method

  • Lee, Young-Jai;Kim, Tae-Ho
    • Journal of Information Technology Applications and Management
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    • v.16 no.3
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    • pp.59-71
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    • 2009
  • Hazard analysis identifies probability to hazard occurrence and its potential impact on business processes operated in organizations. This paper illustrates a quantitative approach of hazard analysis of information systems by measuring the degree of hazard to information systems using probabilistic risk analysis and activity based costing technique. Specifically the research model projects probability of occurrence by PRA and economic loss by ABC under each identified hazard. To verify the model, each computerized subsystem which is called a business process and hazards occurred on information systems are gathered through one private organization. The loss impact of a hazard occurrence is produced by multiplying probability by the economic loss.

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Economic Tolerance Design of Quality Characteristics by the TAGUCHI's Loss Function (다구찌의 손실함수를 이용한 특성치의 경제적 허용차 설계)

  • 최문일;강창욱;황의철
    • Journal of Korean Society of Industrial and Systems Engineering
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    • v.14 no.24
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    • pp.133-139
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    • 1991
  • If the specifications of product. in general. art determined too wide. the precision of product becomes diminished. Otherwise it costs dearly to keep the precision. Therefore, It is realistic to consider various factors in determining specification of qualify characteristics TAGUCH Idefines quality of an object as "Quality is the loss that a product causes to society after being shipped. other than any losses caused by its intrinsic function". Particularly, to improve the performances of product TAGUCHI focuses his attention on the product design and process design which enable the functional characteristics of product to he robust to noises. In this paper, by the TAGUCHI's loss function, the characteristics which affect the variation of a product performance are classified into the scrappable characteristics and the reworkable characteristics when the target values of functional characteristics have been determined. And we will determine the tolerance of each characteristic which minimize the quality cost by the cost function which considers the economic factors and probability features of each characteristic.cteristic.

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Economic dispatch using the equivalent representation method (등가화법에 의한 경제급전)

  • 김준현;황갑구
    • 전기의세계
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    • v.30 no.12
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    • pp.817-821
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    • 1981
  • A simple scheme using the single equivalent machine representation, equivalent loss reprsentation and direct hydro-MW representation are applied to economic dispatch for practical applications. A,simple approach to calculation of incremental transmission losses is proposed from the fast decoupled load flow algorithm. This program is presently being tested on KECO system.

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Economic Analysis for Packaged Software Adoption : Considering the Number of Concurrent Users (동시 사용자수를 고려한 패키지 소프트웨어 구매에 관한 경제성 분석)

  • Yoon, Ho-Jung;Ahn, Jae-Kyoung
    • Journal of Information Technology Services
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    • v.10 no.4
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    • pp.119-131
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    • 2011
  • When your company buys packaged software, the company needs to determine how many software licenses must be purchased. If the quantity is too small, it will be not enough for the users to access the programs at anytime within the company. Conversely, if the quantity is too large, they will waste a lot of money. In this paper, we surveyed several number of researchers of K institute and derived the using pattern of a specific packaged software. We estimated a proper number of packaged software licenses by Erlang Loss Function, the Engset Model, and simulation model. With the results of the three methodologies, we were able to empirically verify economic benefits of packaged software purchase by comparing NPV (Net Present Value) between user licenses and network licenses. Consequently, TCO of user licenses is much higher than that of network licenses. We had probabilistically calculated proper number of licenses based on the using pattern of users. Hence, this paper will be useful for decision makers who are going to determine package software's type and quantity from an economic perspective.