• Journal of Korea Technology Innovation Society
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• v.17 no.1
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• pp.124-145
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• 2014

Market failure occurs when Pareto efficiency is not achieved through market mechanism. In order to solve this problem, government intervene market; paying great attention to the optimum state of resource allocation. However, as the size of government investment in R&D goes up, many professionals emphasize the importance in efficient management system. This work is the result of exploratory study to look into life-cycle management of governmental R&D program. Literature reviews and empirical research on governmental R&D programs elicit improvements for effective life-cycle management of governmental R&D program as follows: consistent discrimination between capital expenditure and recurring expenditure, dual management system by spending properties, implementing total cost management system in capital expenditure, and discrimination between preliminary feasibility study with confirming total program cost in recurring expenditure.

• Korean Journal of Construction Engineering and Management
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• v.16 no.5
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• pp.12-20
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• 2015

Construction industry pays attention to modular construction recently which based on factory production not on labor intensive site production. Since modular construction has high time shortening effect and easiness of demolition and recycling, it has been applied to the temporary residential building. Domestic modular construction market are not activated yet, however, due to the high initial cost to realize modular construction. This study proposes demand-sensitized movable modular building in order to reduce the financial burden. The study compares between RC method building and Modular building which moves building when the demand falls off from Life-Cycle Cost's viewpoint. As a result of the economical evaluation, RC method achieved profits faster than Modular model, but Modular model's gross earnings during the life-cycle are much bigger than RC method. In other words, the result means that the market-sensitized movement of the modular building would be an economci choice in Life-Cycle Costing aspect.

• International Journal of Highway Engineering
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• v.18 no.4
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• pp.19-28
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• 2016

PURPOSES : Long-life asphalt pavements are used widely in developed countries. In order to be able to devise an effective maintenance strategy for such pavements, in this study, we evaluated the performance of the long-life asphalt pavements constructed along the national highways in South Korea. Further, an economic evaluation of the long-life asphalt pavements was performed based on a life-cycle cost analysis. We aimed to devise a model for evaluating the performance of long-life asphalt pavements using the national highway pavement management system (PMS) database as well as for analyzing the economic feasibility of such pavements, in order to promote their use in South Korea. METHODS : The maintenance history and pavement performance data were obtained from the national highway PMS database. The pavement performances for a total of 292 sections of 10 lanes (5 northbound lanes and 5 eastbound lanes) of national highways were used in this study. Models to predict the performances of hot mix asphalt (HMA) and long-life asphalt pavements under two distinct traffic conditions were developed using a simple regression method. Further, the economic feasibility of long-life asphalt pavements was evaluated using the Korea Pavement Management System (KoPMS). RESULTS : We developed service-life prediction models based on the traffic volume and the equivalent of single-axle load and found that long-life asphalt pavements have service lives 50% longer than those of HMA pavements. Further, the results of the economic analysis showed that long-life asphalt pavements are superior in terms of various economic indexes, including user cost, delay cost, total cost, and user benefits, even though their maintenance cost is higher than that of HMA pavements. A comparison of the economic feasibilities of the various groups showed that group A is superior to HMA pavements in all aspects except in terms of the maintenance criterion (crack 20% or higher) as per the NPV index. However, the long-life asphalt pavements in group B were superior in terms of the maintenance criterion (crack 25% or higher) regardless of the economic feasibility. CONCLUSIONS : The service life of long-life asphalt pavements was found to be approximately 50% longer than that of HMA pavements, regardless of the traffic volume characteristics. The economic feasibility of long-life asphalt pavements was evaluated based on the KoPMS. The results of the economic analysis were the following: long-life asphalt pavements are exceptional in terms of almost all factors, such as user cost, delay cost, total cost, and user benefit; however, the exception is the maintenance cost. Further, the economic feasibility of the long-life asphalt pavements in group B was found to be better than that of the HMA pavements (crack 25% or higher).

• Journal of the Korean Solar Energy Society
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• v.23 no.4
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• pp.63-70
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• 2003

It is very important to improve the insulation performance of curtain wall anchoring unit since it is composed of materials with high thermal conductivity, such as aluminium, steel and so on. This study aims to evaluate the heating energy performance and economical efficiency of various alternatives which are different in position and material of insulation. As results, alternative of inserting the urethane washer & pad and coating the anchoring unit with urethane foam can improve the heating energy performance and L.C.C(Life Cycle Cost) by 6.33% and 0.95%, respectively, as compared with the existing case.

• Journal of Environmental Impact Assessment
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• v.21 no.6
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• pp.927-939
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• 2012

Cool roofs are currently being emerged as one of important mechanism to save energy in relation to the building. Although green roof has already gained nation-wide recognition as a typical method of energy saving in the roof, this approach did not provide a realistic evidence that is economically feasible in terms of installation cost. This research is primarily intended to compare installation cost between the two techniques. This research proposes a comparative evaluation framework in a more objective and quantitative way for an installation cost between the two techniques. Kyungpook National University (KNU) was selected as a survey objective and an exhaustive and realistic comparison of installation cost between the two techniques was conducted, based on Life Cycle Cost analysis (initial investment cost, maintenance cost, dismantling and waste disposal expense). It was possible to identify that installation cost of cool roofs is 4.7 times cheaper than that of green roof. Also present value based on probabilistic approach was identified as 0.25 (4.95) higher than the installation cost on the assumption of constant price and interest. It is expected that much more installation cost for the large scale green roof will be required since small-size green roof selected as a survey objective in this study could be operated under less initial installation and maintenance condition.

• Korean Journal of Construction Engineering and Management
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• v.7 no.6
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• pp.175-184
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• 2006

This study focused on developing Life Cycle Cost(LCC) analysis model for selecting sludge collectors in wastewater treatment system and applying the model to a case study. Cost items are examined through literature review and historical data of a facility. Analysis period, discount rate, energy cost escalation ratio are assumed to reasonable level. Monetary evaluation is performed using historical data and estimations from vendors. Sensitive analysis is executed using Monte Carlo Simulation for assumed factors. Interviews with operators, vendors, constructors, managers are conducted to define factors which indicates ease of maintenance, ease of delivery, technical performance, efficiency, environmental friendship. Factors are representing technical and social factors. Results from LCC analysis and qualitative analysis are evaluate together with Weighted Matrix Evaluation Methods for optimum alternative of sludge collectors.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• 2006.11a
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• pp.384-389
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• 2006

The needs for Light Railroad Transit(LRT) have been increased due to the heavy traffic congestions in large cities like Seoul, Korea. Korean government is seeking the LRT system development (including planning, designing, construction, and maintenance and operations) in terms of public-private-partnership (PPP). At the private sector side, it is crucial to estimate the life cycle cost (LCC) to project the cash flow during the O&M period. Since the most construction and O&M cost of LRT project is at the bridge construction, a cost analysis model and a cost breakdown structures (CBS) on LRT bridges are discussed through in depth literature reviews. Construction and maintenance cost of bridges are collected and analyzed. LCC is analyzed by types of bridge superstructures and historical data of repair and rehabilitation (R&R) is investigated. There have been scarce number of LCC analysis on railway bridges. This research delivers a well-defined CBS and maintenance cost data, which will be a great benefit to the systematic maintenance strategy development for railroad bridges.

• Journal of the Korean Solar Energy Society
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• v.36 no.5
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• pp.73-89
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• 2016

To assure maximum economic benefits and the energy performance of solar water heating systems, the proper sizing of components and operating conditions need to be optimized. In recent years, a number of studies to design optimally solar water heating systems have been tried. This paper presents a design method for optimizing the various capacity-related and installation-related design variables based on life cycle cost using a genetic algorithm. The design variables considered in this study included the types and numbers of solar collector and auxiliary heaters; the types of storage tanks and heat exchangers; the solar collector slope; mass flow rates of the fluid on the hot and cold sides. The suggested method was applied for optimizing a solar water heating system for an elementary school in Seoul, South Korea. In addition, the effectiveness of the proposed optimization method was assessed by analyzing the obtained optimal solutions of six case studies, each of which was simulated with different solar fractions. It is observed that a trade-off between the equipment cost and the energy cost results in an optimal design that yields the lowest life cycle cost. Therefore, it could be helpful to apply the optimal solar water heating system by comparing the various design solutions obtained by using the optimization method instead of the engineer's experience and intuition.

• Journal of the military operations research society of Korea
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• v.18 no.2
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• pp.23-43
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• 1992

A Stochastic simulation model for optimal design and evaluation of the integrated weapon systems under the consideration of the RAM (reliability, availability and maintainability) and life cycle cost (LCC) was developped. This model is supposed to satisfy a need regarding the methodology of optimaldesign and performance evaluation for both developpers and users of weapon systems.

• Korean Journal of Construction Engineering and Management
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• v.9 no.6
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• pp.216-224
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• 2008

Recently, most developed countries use the evaluation system about Life Cycle Cost(LCC), and KOREA is beginning to introduce the system to reduce construction expenses. And the introduction of "Technical Proposal Type Bid", which is a new procurement method of Korea government, has made needs for the price-valuation way to evaluate facilities LCC. These days, LCC has been being evaluated by BTL and turnkey project in KOREA, which is suffering from difficulties in evaluating it, because evaluation elements and standards are vague. In addition, LCC evaluation in public construction business except BTL and turnkey is not carried out. Therefore, this paper is to develop a new evaluation index to evaluate LCC both systematically and objectively. The results of this paper are as followings. (1) Necessity and problem analysis of LCC evaluation index, (2) LCC evaluation index deduction from the technical report and question analysis, (3) Application and evaluation method suggestion to practice.