• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.61
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• pp.273-302
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• 2014

Project finance ("PF") is a method of raising long-term debt financing based on lending against the cash flow generated by the project alone. Project finance is a nonrecourse or limited recourse financing structure against the sponsors(or the investors). The debt terms in a project finance are not based on the creditor's credit support or on the value of the assets of the project. Lenders rely on the future cash flow to be generated by the project for debt repayment and interest, rather than the value of the project or the credit ratings of the sponsors. The non-recourse or limited recourse financing usually prompt potential project finance lenders to assess carefully all possible risks that might arise in a project to ensure that those risks are mitigated and controlled. In this respect, project finance is a opposite financing method of corporate finance. Project finance has rapidly grown over the last 20 years due to the worldwide process of privatization of public sector and development of natural resources. Global project finance volume reached the record USD 406.5 billion in 2011. In 2012, however, Global project finance volume dropped 6% to USD 382.3 billion. Infrastructure overtook Energy to lead all sectors with USD 113.6 billion. It is generally recognized that there are more and higher risks in project finance compared with corporate finance. Project finance is exposed to commercial risks as well as political risks. The main commercial risks are completion risks, environmental risks, operating risks, input supply risks, revenue risks, etc, and the main political risks are currency convertibility and transfer risks, expropriation risks, war and civil disturbance risks, risks of breach of government concession agreement, etc. Completion risks include permits risks, risks relating to the EPC Contractor, construction cost overrun, delay in completion, inadequate performance on completion, etc.

• Korean Journal of Organic Agriculture
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• v.23 no.2
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• pp.233-245
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• 2015

The objective of this study is to analyze the properness, effectiveness and sustainability on the large-scale environment-friendly agricultural districts (LEAD). For this, we survey 11 public officers who manage the LEAD. Most of them aware necessities of LEAD project. They have a higher satisfaction and think that the project affect ripple effect and contribution on environment-friendly agriculture. Main performance expected of the LEAD project is a spread of natural circulation agriculture in connection with cultivation and stockbreeding. For continuance of environment-friendly agriculture after the project, it is necessary to find markets of products. Also policy making related with environment-friendly agricultural technique is required. The results of this study show that the LEAD project need a modification based on field and change of agricultural issues.

• Journal of the Korean Professional Engineers Association
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• v.43 no.4
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• pp.44-49
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• 2010

Th Rach Gia Bypass Project, to be implemented under EDCF Loan VNM-12, constitutes a strategically important part of the Greater Mekong Sub-region Southern Coastal Corridor Project(the GMS-SCCP). The main goal of the GMS strategy is to promote sustainable economic growth, improve employment, and achieve poverty reduction by tapping the comparative advantages of Vietnam, Cambodia and Thailand. As a project manager who once took a responsible position for the completion of RGBP's detailed design, I would like to briefly introduce what our design team including the local sub-contractors had performed for the D/Design of this Project last year, especially in the field of highway, bridge and soft soil treatment method widely used in Mekong Delta area. With the performance of nearly two Projects due to the V.O. in one year on the prescribed time, it was a hard year but a rewarding one. To expand our horizon more about overseas projects, several recommendations for the brighter future of overseas projects are shown herein this paper.

• Korean System Dynamics Review
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• v.12 no.1
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• pp.59-74
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• 2011

This article deals with an economic evalutation of the 'Pasture Project of Kum River', which is the farming plan of mitten crabs in a stream of it. An augmented model of social capital is based on the past ecological-economic system dynamics model and elaborated further with suggestions of social capital literature. During the modeling process a chain diagram of causal relations and its relevant mathematical equations are presented for simulating the project performance, and the simulation results are provided to contrast the dynamic behaviors of the former ecological-economic model with ones of the new model incorporating social capital. The results indicate that an increase in the economic benefit of the project could happen in case of considering the process of social capital accumulation around the case area, which can be regarded as a remarkable trial to approve the common confidence in the role of social capital to enhance an economic achievement.

• Journal of Korean Society for Quality Management
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• v.38 no.4
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• pp.531-539
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• 2010

Mega-Y project is very important for a company to gain a competitive advantage in markets or to achieve drastic change in the internal processes. It stems from the company strategy and annual management goals or key performance measures, and is proceeded by the cross-functional team. This paper presents the success factors and implementation process of the Mega-Y projects. The implementation process is presented in 5 steps, including project selection, cross-functional team building, establishment of the master plan, development and execution of sub-projects, and project completion. A case study on the cost reduction project of aircraft development is presented to help for the practitioners to deploy the implementation process introduced in this paper.

• Proceedings of the KSR Conference
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• 2010.06a
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• pp.1814-1820
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• 2010

Korean Train Express (KTX) has been commercially operating and achieving elevation on transport capacity since 2004. And the first hish-speed prototype test train, HSR-350x, was developed and succeeded in testing of running over 350km/h. Now KTX-II based on HSR-350x was started in service run. The new high-speed train development project, HEMU-400x project, has started since 2007. The protype train is being designed and manufactured. After the train are developed completely, it will run on the commercial line and will be test to verify the estimated performance. The authors devised the performance evaluation method and process of the HEMU-400x prototype system. And we introduce the definite performance test items and the method to vitrificate them in this paper.

• Educational Technology International
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• v.11 no.2
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• pp.105-121
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• 2010

Collaborative learning encourages the use of high-level cognitive strategies, critical thinking, and interpersonal relationships. Despite these advantages, most instructors reveal the difficulties of using project-based collaborative learning; a common problem is the failure of the group to work effectively together. Thus, this study attempted to provide practical advice on group composition with self-regulation. In a college course, 31 groups with 129 students were asked to discuss and prepare the final presentation material and present it together as a collaborative work. All students' self-regulation skills were measured at the beginning of the semester, and the collective self-regulation was computed as an average of the individual scores of each group. The results of regression analysis indicate that the group's collective self-regulation shows a highly significant positive effect on group performance and satisfaction, as self-regulation predicts individual academic performance. The results also show that there is a significant positive relationship between students' self-regulation and participation in group work.

• Korean Journal of Construction Engineering and Management
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• v.20 no.1
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• pp.73-85
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• 2019

Since the beginning of a new century, many Korean construction and engineering companies are facing a very dynamic and fast changing business environment which includes severe competition, higher risk, economic depression, declining revenues and profits, etc. In order to cope with these challenges, they need to secure special capabilities to actively adapt to the paradigm changes. One of those capabilities could be project management capability which allows us to manage organizational resources dynamically and integratively based on project portfolio management concept. The objective of this study is to investigate how the dynamic capability of a project-based organization to control the resource affects the firm performance and the competitive advantages. Data was collected from the construction and engineering companies in South Korea by using survey questionnaire, and analyzed for empirical tests by using statistical methods such as structural equation modelling and path analysis. The results showed that the organizational resources, if they had the VRIN characteristics, would have positive impacts on creating the dynamic capabilities for project organization. In turn, the dynamic capabilities of a project organization would have impacts on improving business performance and creating competitive advantages. Also, it was found that the organizational resources may have direct impact on business performance and competitive advantages. The academic contribution of this study is that it attempts to integrate resource based view and the dynamic capability theory about creating competitive advantages for project based organization. This study also provided practical implications to the companies in construction industry by showing how to use organizational resources strategically to create competitive advantages.

• 한국IT서비스학회:학술대회논문집
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• 2008.11a
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• pp.375-378
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• 2008

본 연구에서는 발주자 입장에서 PMI(Project Management Institute)에서 정의하고 있는 프로젝트 범위관리 활동을 범위의 기획 및 정의, 범위의 검증, 범위의 통제 3가지로 구분하고, 프로젝트의 성과를 프로젝트 과정에 대한 성과와 제품에 대한 성과 2가지로 구분하여, 각각의 범위관리 활동들이 각각의 프로젝트 성과에 어떠한 영향을 미치고 있는지에 대한 실증연구를 진행 하였다. 이와 동시에 프로젝트의 규모, 공급자 유형, 경험여부와 같은 프로젝트 특성이 범위관리 활동과 프로젝트 성과 사이의 관계에 어떠한 영향을 미치는지에 대한 연구도 병행하였다. 본 연구의 의의는 발주자 입장에서 범위관리 각각의 활동이 정보시스템 개발 프로젝트의 성과에 어떠한 영향을 미치는지에 대해 실증 연구를 함으로서 정보시스템 개발 프로젝트의 발주자들로 하여금 프로젝트에 있어 범위관리의 각각의 활동들에 대한 중요도를 인식시켜 프로젝트 범위관리 활동에 대한 적극적인 참여와 관심을 고취시키는데 그 의의가 있다.

• Journal of the Korea Institute of Military Science and Technology
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• v.22 no.1
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• pp.106-123
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• 2019

Demand for performance analysis is increasing for efficient use of limited budgets such as improving investment efficiency and strategic budget allocation in accordance with the continuous increase demand of R&D budget for developing advanced weapon systems in the future battlefields. In accordance with the Act on the Performance Evaluation and Performance Management of the National R&D Projects established in March 2006, the performance analysis has been conducted for the systematic management and utilization of the R&D project performance. It was recognized as a project to achieve self-defense through strengthening the weapons system development capability, however, efficiency evaluation of Defense R&D projects was not much emphasized. Research on the efficiency analysis of defense R&D projects has been conducted in recent years, but most studies focused on corporate efficiency and productivity of defense companies. In this study, we analyzed the three-stage performance of defence R&D projects based on the logical model using the data envelope analysis(DEA) model. We also analyzed performance analysis from various perspectives through R&D type, technology classification and performance model. This study is expected to help defense department improve defense R&D projects and make decision.