• Proceedings of the Korean Institute Of Construction Engineering and Management
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• 2006.11a
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• pp.322-325
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• 2006

The research project evaluates different infrastructure project delivery methods used internationally. The goal is to define the main benefits, deficiencies, and requirements of the project delivery systems for both the short term and long term perspectives. Also, the research attempts to determine alternatives to modify and to promote change in the current infrastructure project delivery methods in order to make the processes more efficient with value added benefits to all participants.

• International conference on construction engineering and project management
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• 2005.10a
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• pp.980-985
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• 2005

Since the 1980s, Build-Operate-Transfer and its variations have become a common approach to develop large-scale infrastructure projects. Despite the slight variations in contractual settings, the key issue for all parties concerned is to assess the risks and uncertainties inherent in a project. The risk factors studied and highlighted by past researchers are very diverse. This paper starts with an objective to compare the risk factors in different sectors of infrastructure, and then categorize them into two kinds: general and specific. Following this classification, risk mitigation strategies should be adopted differently at the corporate and project levels. A few short cases have also been used to illustrate the flexible measures or "options" that some project participants have designed to address risks and uncertainties at the two levels.

• Journal of KIBIM
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• v.12 no.1
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• pp.35-41
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• 2022

This research aims to find the issues and explore policy agenda of contributed acceptance of urban renewal project. Through the analysis of urban renewal project in Seoul, three isssues was found as follows. Firstly, the ratio of contributed acceptance in each district was quite different. Secondly, the donated land was scattered around whole project area. Thirdly, infrastructures are not constructed until all renewal projects were implemented. For this issues, this research proposed that a proper standard of the ratio of contributed acceptance is needed and land donation should be designated to adjacent lot or block. Also public support should be for developing urban capacity and completing infrastructure.

• International conference on construction engineering and project management
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• 2011.02a
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• pp.474-479
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• 2011

With Beijing's success in bidding for the 2008 Olympic Games, the increasing demand for infrastructure development and reduced public sector funding capacity has created a significant funding gap which calls for alternative project delivery methods such as Public-Private Partnership (PPP). Although the exploration of infrastructure projects using PPP model have been practiced since the late 80s, the $560 million National Stadium which served as the main venue for the Olympic Games is the first stadium project in China to be delivered under PPP operation. The project is generally considered successful despite the concession transfer in 2009 with concern of better serving the public interest. Compared to other infrastructure projects such as transportation, waste management and water management, the development of major sports facilities for mega-sports events with PPP has its own unique features and is subject to different major risks. This research identifies and analyzes critical risks in the implementation of PPP in major sports facility development through case study of the National Stadium project. A questionnaire survey and several interviews are conducted to solicit expert opinions from experienced practitioners. The purpose is to provide additional insights in risk management strategies and opportunities in China's PPP implementations in major sports facilities for policy makers and private sectors involved with investment decisions in future similar infrastructure development.

• Korean Journal of Construction Engineering and Management
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• v.12 no.3
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• pp.140-149
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• 2011

The government introduced private infrastructure projects in order to reduce its financial burden by introducing private sectors efficiency and creativity and by utilizing their funds. Through revision, the act on the private investment of the infrastructure, many changes were made in the private investment system. The evaluation task to assess the project proposer's capability and to select a promoter is regarded as the most important process for fairness and transparency of the project. In this study, the improvement of project plan evaluation task of current private infrastructure projects is proposed based on the standard guideline for evaluation procedure of private infrastructure projects provided by Korea Development Institute. In addition, software program for evaluation procedure is made to improve the efficiency and enableconvenient evaluation task.

• International Journal of Internet, Broadcasting and Communication
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• v.16 no.3
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• pp.274-280
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• 2024

The smart factory promotion project is a project that improves the entire management environment system, including the production process, using ICT technology. According to the 2019 Smart Factory Survey and Analysis Research Report of the Ministry of SMEs and Startups, small and medium-sized enterprises that introduced smart factories reported positive effects such as increased productivity, improved quality, and reduced costs on average. On the other hand, the survey results of companies that promoted the project despite positive results showed that there was room for improvement. This study dealt with the contents of the survey conducted on companies by the smart factory promotion agency in 2020 regarding the infrastructure configuration for promoting smart factories. We examined the meaningful contents implied by the data related to the infrastructure configuration. These meaningful survey results can lead to more efficient business promotion in the future when promoting smart factory projects.

• International conference on construction engineering and project management
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• 2011.02a
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• pp.299-303
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• 2011

Congestion is a growing concern of many global cities and the demands on Infrastructure services within a locale coupled by the rising expectations from the growing population places stress on these cities. This entails the ability to build a sustainable community that requires an understanding and recognition of Population growth, changing demographics and the ever changing urban development on both a macro and micro level. Infrastructure is an integral part of Australian economy, particularly the 'Infrastructure Assets Management' which highlights the importance towards the development of sustainable communities for Melbourne's future. Melbourne 2030 is a comprehensive representation of government's response to a wide-ranging population growth within Melbourne metropolitan and surrounding areas. Urban plan and specific Infrastructure Assets Planning needs not only to provide sufficient Infrastructure to a community, but it must also be efficient and innovative so that it produces an optimised management system. A system that incorporates engineering techniques that will be sustainable for decades to come by maintaining an acceptable level of services to its intended community in an effective manner, which also strengthens service delivery. The fundamental challenges for optimization of Infrastructure with the Melbourne urban plan is, the ability to manage and sustain maintenance of Infrastructure to provide the acceptable level of service required by the community in a most effective manner which also strengthens service delivery to contribute towards Melbourne 2030. This paper particularly investigates some of the fundamental issues within the Melbourne urban plan such as Infrastructure Asset Management, AusLink and the Australian Road Management Act 2004, which the Governments at all levels must deal with to provide an economically viable solution to the changing Infrastructure so it may suits the needs and services the strategies of a metropolis.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.11 no.4
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• pp.1442-1448
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• 2010

The evaluation of the financial viability of a privatized infrastructure project is complex because of the uncertainties involved due to the project's scale, long concession period and complexity. Use the BOT option valuation(BOT-OV) model, for evaluating the financial analysis of a privatized infrastructure project. This sophisticated for financial evaluation compared with a traditional NPV analysis.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.31 no.1D
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• pp.99-109
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• 2011

In order to maintain construction industry and to improve efficiency, the Korean government legislated private investment system. Private sector takes advantages by adopting CM (Construction Management) project system, however, public sector has relatively less capability and experience than private sector. In this paper, PSM (Partnership Support Management) is addressed in order to actively strengthen the project capabilities for public sector. PSM maintains existing CM project system because it is a concept of expended business model of CM. PSM needed to categorize the private participated project into 5 phases; project development phase, project announcement phase, project evaluation phase, project agreement phase and agreement changing phase. PSM business structure and business process considering stakeholder's interrelationship and participation are suggested in this research. Suggested PSM business model may not only increase a comprehensive understanding of government and project capability, but also may reduce work load and responsibilities for project momentum of private participation in infrastructure.

• International conference on construction engineering and project management
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• 2007.03a
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• pp.509-519
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• 2007

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.