• Korean Journal of Construction Engineering and Management
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• v.16 no.4
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• pp.70-79
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• 2015

With the rise of the interest in a renewable system, the importance of the Life Cycle Cost Analysis(LCCA), an economic evaluation tool, has been increasing. However, there is an inevitable gap between a real cost and an estimation from LCCA because of the uncertainty of the external environment in real world. As the input variables in an analysis, such as a real discount rate and an energy cost, ares subject to change as time goes by, strategic decision on the current operating system is made depending on the real cost. Current economic evaluation approaches have treated only the fluctuation of input variables without consideration of the flexibility in operation, which has consequently led to the impairment on the reliability of LCCA. Therefore, new approach needs to be proposed to consider both the uncertainty of input variables and operational flexibility. To address this issue, the application of the Real Option to LCCA is presented in this study. Through a case analysis of LCCA of a solar heating system, the limits and current status of LCCA are identified. As a result, quantitative presentation of strategic decisions has been added in the new approach to implement the traditional approach.

• Land and Housing Review
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• v.10 no.4
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• pp.51-59
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• 2019

The government is encouraging the notice of obligatory reclaimed asphalt as a result of the economic and social positioning of green growth to reduce the amount of waste resources and to solve natural resource problems by recycling continuously generated waste resources. However, it is necessary to develop application guideline for each application to apply reclaimed asphalt to the site because quality control of the reclaimed asphalt is difficult and the specifications are ambiguous as well. Therefore, in this study, the mix design, quality test, performance test, and finite element analysis about reclaimed Asphalt Pavement were conducted to develop application guideline for reclaimed hot asphalt. The mix design was carried out for the comparative general hot mix asphalt mixture, the reclaimed hot mix asphalt mixture using the additive, and the reclaimed hot mix asphalt mixture without the additive. Indirect tensile strength and tensile strength ratio tests were used to characterize the reclaimed hot mix asphalt mixture. Using the results of dynamic modulus test and FWD test for KPRP analysis and finite element analysis, the performance life was evaluated for general pavement and pavement using recycled aggregate. Finally, the life cycle cost analysis was used to compare and analyze the economics of reclaimed asphalt concrete pavement.

• Journal of Energy Engineering
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• v.13 no.4
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• pp.296-300
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• 2004

Performance evaluation and economic estimation were conducted on the water to water GSHP (Ground Source Heat Pump) installed in existing building. Ground heat exchanger was a closed vertical loop type and sized to be 5 boreholes and 100m depth per borehole. Operation efficiency of the system shows that, COP increased from 3.0 to 4.2 with entering water temperature in heating operation, however, COP decreased from 5.0 to 3.7 in cooling operation. Economic estimation was analyzed by LCC (Life Cycle Cost) method and it showed that GSHP could save 68% of cost compare to the conventional oil source. Thus, despite of the large amount of initial cost, GSHP has a economic advantage to the other energy sources.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.40 no.1
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• pp.77-85
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• 2020

Currently, life-cycle cost analysis methods are introduced to maintain large infrastructure facilities in Korea. However, there are not many cases in which maintenance models are applied that reflect conditions such as the location of a facility and its surroundings. In order to establish an appropriate maintenance strategy, a cost prediction, deterioration model, and a decision model reflecting uncertainty should be established. In this study, an economic analysis model was developed for long-term cost planning and management based on user decisions based on maintenance methods and judgment criteria for painting specifications applied to power generation structures. The performance of the paintwork was assessed through the paint deterioration test for the application of the economic analysis model, and the results of the economic analysis according to the applied paint specifications (Urethan, polysiloxane, fluorine) were verified by applying the proposed economic analysis model. In this study, it is believed that the selection of the repair cycle and evaluation methods applied with the development model rather than the performance of the painting can be expected to be used as basic data for the maintenance cycle, even if it is not limited to the painting.

• Proceedings of the Earthquake Engineering Society of Korea Conference
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• 2000.10a
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• pp.440-447
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• 2000

In order to evaluate the cost effectiveness of seismic isolation for bridges in low and moderate seismic region, a method of calculation minimum life-cycle cost of seismic-isolated bridges under specific acceleration level and soil condition is developed. Input ground motion is modeled as spectral density function compatible with response spectrum for combination of acceleration coefficient and site coefficient. Failure probability is calculated by spectrum analysis based on random vibration theories to simplify repetitive calculations in the minimization procedure. Ductility of piers and its effects on cost effectiveness are considered by stochastic linearization method. Cost function and cost effectiveness index are defined by taking into consideration the characteristics of seismic isolated bridges. Limit states for calculation of failure probability are defined on superstructure, isolator and pier, respectively. The results of example design and analysis show that seismic isolation is more cost-effective in low and moderate seismic region than in high seismic region.

• Journal of the Korea institute for structural maintenance and inspection
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• v.7 no.3
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• pp.251-262
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• 2003

LCP(Life Cycle Profiles) of bridge structures are indispensable for the LCC(Life Cycle Cost) evaluations of bridge system. The bridge under considerations may be newly-designed one or one in service. Thus, a systematic study of LCP is essential for both reliable LCC evaluation and strategic bridge management. LCP is mainly influenced by the structural environment in nature. However, in Korea, LCC evaluation has been performed with the LCP of foreign research results or only with the pieces of professional engineers' opinion. Therefore, to alleviate the drawbacks of foreign LCP and to enhance the reliability of current LCP, LCP should be established using the available data in bridge management system(BMS). In this study, LCP along with a subset of the BMS data was investigated and several mathematical expressions were proposed and evaluated. The condition ratings of a bridge were trasformed into the numerical indices through fuzzy logics with real field data. From the numerical results, it is concluded that the mathematical LCP model of $y=\sqrt{y^2_0-at}$ is shown to be the fittest one (R=0.815) to express the condition rating varied with the age. This has been drawn from the case study of slab bridges under the similar conditions.

• Proceedings of the Korean Institute of Building Construction Conference
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• 2005.05a
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• pp.13-16
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• 2005

Generally, as corrosive protection processing of a steel structure, zinc galvanizing and heavy duty coating paint are applied. However, zinc galvanizing has the difficulty of restriction of a size, or on-site construction. Moreover, heavy duty coating paint has a problem with many administrative and maintenance expenses with short problem of adhesion, corrosion generating of a damage portion, and maintenance management cycle. In this study, a salt water spray test, CASS test, and the electrochemistry examination were carried out for the thermal metal spray method of construction for corrosive protection performance evaluation. Moreover, the corrosive protection life of a thermal metal spray method of construction was quantitatively calculated on the basis of this experiment. in consideration of LCC, the economical efficiency of a general corrosive protection method of construction and a thermal metal corrosive protection method of construction was compared. Consequently, although initial construction expense was estimated 16 to $30\%$ high, as for a thermal metal spray method of construction, it turns out that the administrative and maintenance expenses for 100 years became cheap 9.3 to 13 or more times.

• Journal of the Korea institute for structural maintenance and inspection
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• v.28 no.4
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• pp.37-47
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• 2024

This study proposes a track maintenance quantity estimation model that considers evolution of rail fatigue damage and ballast settlement based on actual maintenance data from the Gyeongbu high-speed railway, and revises the existing life cycle cost (LCC) model for railway track. Using this model, maintenance quantities and life cycle costs based on different track quality levels are evaluated and discussed. According to the results, it is confirmed that applying the track maintenance quantity estimation model that accounts for rail fatigue damage and ballast settlement allows us to reasonably estimate maintenance costs close to the actual data. The track quality coefficient significantly influences both rail and ballast maintenance quantities, with ballast maintenance having a greater impact than rail maintenance. Additionally, as train speed increases, both rail and ballast maintenance quantities rise. Moreover, a higher track quality coefficient leads to a steeper increase in maintenance quantities with increasing train speed. Consequently, LCC also exhibits a faster growth rate over time with higher track quality coefficients and faster train speeds, resulting from an increased proportion of maintenance costs.

• Proceedings of the Korean Society of Precision Engineering Conference
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• 2003.06a
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• pp.877-880
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• 2003

In a competitive and globalized business environment, the need for the green products becomes stronger. To meet these trends, the environmental assessment besides delivery, cost and quality of products should be considered as an important factor in new product development phase. In this paper. a knowledge-based approximate life cycle assessment system (KALCAS) for the collaborative design environment is developed to assess the environmental impacts in context of product concept development. It aims at improving the environmental efficiency of the product using artificial neural networks consisting of high-level product attributes and LCA results. The overall framework of the collaborative environment including KALCAS is proposed. This architecture uses the CO environment to allow users on a wide variety of platforms to access the product data and other related information. It enables us to trade-off the evaluation results between the objectives of the product development including the approximate environmental assessment in the collaborative design environment.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• 2007.11a
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• pp.431-435
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• 2007

Green Building Certification Program, which was first introduced to residential buildings in Korea in 2002, has been put on track. This program is expected to bring about the effect in the economic viewpoint that was based on a life-cycle-cost analysis, not to mention the environmental viewpoint. However, given the fact that the existing model for feasibility analysis focusing on early investment cost can hardly be applicable to the green buildings because of lacking the life-cycle-cost reduction factor, it remains still difficult to conduct an objective evaluation. The study thus was intended to identify the factors that should be additionally considered in conducting the feasibility study to be implemented through the analysis of the certification items of green buildings as a preliminary study in structuring the evaluation model for feasibility analysis of green buildings.