• Journal of Korean Society for Quality Management
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• v.19 no.2
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• pp.108-116
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• 1991

Value Engineering has been recognized by many companies as a powerful and innovative techniques approach for cost down and improvement in function of product and service. Functional evaluation is the most important progress in VE activities. But it is often difficult to evaluate the function of a certain subject because the evaluation of function is very vague. This paper presents a new functional evaluation method using fuzzy theory. The purpose of this proposed method is the improvement in the precision of functional evaluation.

• Journal of Power System Engineering
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• v.9 no.2
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• pp.106-111
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• 2005

After many casualties of conventional bulk carriers in recent years, a double hull bulk carrier was proposed to enhance the structural safety of a side shell and a transverse bulkhead. In this paper, two alternative structural designs of a double hull bulk carrier were carried out based on the Lloyd's rule. One has the double sided hull with longitudinal stiffeners and the other has that with a girder. The final structural design was examined in comparison with an existing single hull bulk carrier from the viewpoints of cargo hold capacity and the increases of weight and construction cost. Generally, the construction cost of a ship consists of the costs of material, labor and overhead cost. But, in this study, the relative construction cost concept was introduced to compare the economical validity more precisely. In this concept, fixed overhead cost is excluded in the assessment of construction cost, and only the variable overhead cost is added up to labor cost. As the result of this study, a double hull bulk carrier can be constructed within 1% increase of weight and construction cost.

• Proceedings of the SAREK Conference
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• 2008.11a
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• pp.351-356
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• 2008

When various kinds of outputs are produced from a single energy system, the methodology which allocates the common cost to each output cost is very important because it is directly related with the profit and loss of producers and purchasers. In the cost allocation methodology of the heat and the electricity on a cogeneration, there are energy method, work method, proportional method, benefit distribution method, various exergetic methods, and so on. On the other hand, we have proposed a worth evaluation method which can be applied to any system. The definition of this methodology is that the unit cost of a product is proportion to the worth. Where, worth is a certain evaluating basis that can equalize the worth of products. In this study, we applied this methodology to a gas-turbine cogeneration which produces 119.2 GJ/h of electricity and 134.7 GJ/h of heat, and then we allocated 3,150 $/h of fuel cost to electricity cost and heat cost. Also, we compared with various cost allocation methods. As the result, we conclude that exergy of various kinds of worth basis evaluates the worth of heat and electricity most reasonably on this system.

• Korean Journal of Air-Conditioning and Refrigeration Engineering
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• v.21 no.4
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• pp.252-259
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• 2009

When various kinds of outputs are produced from a single energy system, the methodology which allocates the common cost to each output cost is very important because it is directly related with the profit and loss of producers and purchasers. In the cost allocation methodology of the heat and the electricity on a cogeneration, there are energy method, work method, proportional method, benefit distribution method, various exergetic methods, and so on. On the other hand, we have proposed a worth evaluation method which can be applied to any system. The definition of this methodology is that the unit cost of a product is proportion to the worth. Where, worth is a certain evaluating basis that can equalize the worth of products. In this study, we applied this methodology to a gas-turbine cogeneration which produces 119.2 GJ/h of electricity and 134.7 GJ/h of steam, and then we allocated 3,150 $/h of fuel cost to electricity cost and steam cost. Also, we compared with various cost allocation methods. As the result, we conclude that reversible work of various kinds of worth basis evaluates the worth of heat and electricity most reasonably.

• The KIPS Transactions:PartC
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• v.17C no.5
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• pp.407-414
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• 2010

A condition access system (CAS) refers to a hardware-based system that allows only authenticated users to have access to contents. The CAS has many disadvantages found in that in the replacement of multiple service operator (MSO) a set-top box should be also changed and the smart-card often causes malfunction. To deal with the problems, exchangeable CAS (XCAS) was developed in 2009. However the standards or evaluation schemes for XCAS are absent. Existing evaluation schemes are not appropriate for evaluating XCAS due to the evaluation standard, the evaluation cost and efficiencies. Therefore, a specific scheme that can evaluate the security and suitability of exchangeable conditional access systems has been requested. In this paper, we propose an appropriate evaluation scheme for XCAS. The evaluation scheme includes an evaluation purpose and four components to evaluate the evaluation target, the evaluation process, the evaluation subject, and the evaluation cost involved.

• Journal of Intelligence and Information Systems
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• v.24 no.3
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• pp.177-198
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• 2018

Recently, as economic property it has become necessary to acquire and utilize the framework for water resource measurement and performance management as the property of water resources changes to hold "public property". To date, the evaluation of water technology has been carried out by feasibility study analysis or technology assessment based on net present value (NPV) or benefit-to-cost (B/C) effect, however it is not yet systemized in terms of valuation models to objectively assess an economic value of technology-based business to receive diffusion and feedback of research outcomes. Therefore, K-water (known as a government-supported public company in Korea) company feels the necessity to establish a technology valuation framework suitable for technical characteristics of water resources fields in charge and verify an exemplified case applied to the technology. The K-water evaluation technology applied to this study, as a public interest goods, can be used as a tool to measure the value and achievement contributed to society and to manage them. Therefore, by calculating the value in which the subject technology contributed to the entire society as a public resource, we make use of it as a basis information for the advertising medium of performance on the influence effect of the benefits or the necessity of cost input, and then secure the legitimacy for large-scale R&D cost input in terms of the characteristics of public technology. Hence, K-water company, one of the public corporation in Korea which deals with public goods of 'water resources', will be able to establish a commercialization strategy for business operation and prepare for a basis for the performance calculation of input R&D cost. In this study, K-water has developed a web-based technology valuation model for public interest type water resources based on the technology evaluation system that is suitable for the characteristics of a technology in water resources fields. In particular, by utilizing the evaluation methodology of the Institute of Advanced Industrial Science and Technology (AIST) in Japan to match the expense items to the expense accounts based on the related benefit items, we proposed the so-called 'K-water's proprietary model' which involves the 'cost-benefit' approach and the FCF (Free Cash Flow), and ultimately led to build a pipeline on the K-water research performance management system and then verify the practical case of a technology related to "desalination". We analyze the embedded design logic and evaluation process of web-based valuation system that reflects characteristics of water resources technology, reference information and database(D/B)-associated logic for each model to calculate public interest-based and profit-based technology values in technology integrated management system. We review the hybrid evaluation module that reflects the quantitative index of the qualitative evaluation indices reflecting the unique characteristics of water resources and the visualized user-interface (UI) of the actual web-based evaluation, which both are appended for calculating the business value based on financial data to the existing web-based technology valuation systems in other fields. K-water's technology valuation model is evaluated by distinguishing between public-interest type and profitable-type water technology. First, evaluation modules in profit-type technology valuation model are designed based on 'profitability of technology'. For example, the technology inventory K-water holds has a number of profit-oriented technologies such as water treatment membranes. On the other hand, the public interest-type technology valuation is designed to evaluate the public-interest oriented technology such as the dam, which reflects the characteristics of public benefits and costs. In order to examine the appropriateness of the cost-benefit based public utility valuation model (i.e. K-water specific technology valuation model) presented in this study, we applied to practical cases from calculation of benefit-to-cost analysis on water resource technology with 20 years of lifetime. In future we will additionally conduct verifying the K-water public utility-based valuation model by each business model which reflects various business environmental characteristics.

• Proceedings of the Korean Society of Precision Engineering Conference
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• 2010.05a
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• pp.887-888
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• 2010

• Korean Management Science Review
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• v.8 no.1
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• pp.41-50
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• 1991

Within the current construction industry, constractor equipment management practices lack structure and often are not addressed through an economic analysis and evaluation process. This paper explores two areas...cost of capital and inflation...with the intention of providing insight for a more structured and economic based approach to contractor equipment replacement practices rather than by the traditional "rule of thumb".umb".uot;.

• New & Renewable Energy
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• v.16 no.1
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• pp.1-14
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• 2020

Liquid air energy storage (LAES) using gas liquefaction has attracted considerable attention because of its mature technology, high energy density, few geographical constraints, and long life span. On the other hand, LAES has not yet been commercialized and is being developed recently. Therefore, few studies have performed an economic analysis of LAES. In this study, the levelized cost of electricity was calculated and compared with that of other energy storage systems. As a result, the levelized cost of electricity of LAES was $371/MWh. This is approximately $292/MWh, $159/MWh, $118/MWh, and $3/MWh less than that of the LiCd battery, VRFB battery, Lead-acid battery, and NaS battery. In addition, the cost was approximately $62/MWh and $195/MWh more than that of Fe-Cr flow battery and PHS. Sensitivity analysis of the levelized cost of electricity according to the main economic factors was performed, and economic uncertainty analysis was performed through a Monte-Carlo simulation. The cumulative probability curve showed the levelized cost of electricity of LAES, reflecting price fluctuations in the air compressor cost, electricity cost, and standing reserve hourly fee.

• Journal of Distribution Science
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• v.12 no.10
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• pp.123-128
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• 2014

Purpose - The purpose of the study is to reexamine the price fairness as practiced by low cost airlines, as a consumer has to experience such inconveniences as inferior airport transportation, extra fees on in-flight meals, and non-negotiable seats, and consumers evaluate such experiences keeping in mind their total costs. This evaluation includes price fairness and allows a reasonable and overall consideration of factors of low cost airlines. It tries to set up a measurement of the indicators consumers' perceptions of price fairness academically as it adapts price fairness to airline services which are renowned for price volatility. Research design, data, and methodology - The research proposes an alternative pricing strategy for the long term profit of low cost airlines after going over conflicts between the traditional theory of consumers' price perception mechanism and flexible fair policy of low cost airlines. It was meaningful when it relates to the early stage of the business, while it enhances the risks relating to the long term survival of low cost airlines. In addition, it is significant as it highlights the negative influences on consumers' perceptions of price fairness, as low cost airlines run on extremely low cost perspectives. Results - The results of the research provide insight into four perspectives, as consumers' perceptions of price fairness are influenced by the frequency and range of price changes and services. The first perspective is that it would lead to positive price evaluation when a low cost airline cuts prices frequently with little changes than one big change. It also would lead to the same result when it comes to necessary services. The second perspective is that one big increase of price would rather undermine the negative aspects of price changes than those of several smaller ones. The third perspective is that additional services would be good to consumers' perceptions of price fairness as compared to discount benefits with respect to the cost. Finally, a low cost airline should consider that consumers will change airlines or defer their flight schedule if the flight fares increase beyond their limits. Conclusions - Low cost airlines should reconsider their pricing policies for services that were provided free earlier. A consumer would not like discount benefits when made to pay for services that were, for long, free of charge. If a low cost airline can provide services with no charge, it should improve volumes if the costs are standardized and, moreover, should consider the charging fees. Alternatively, a consumer can choose between services and fair discount. Low cost airlines are implementing sales promotion strategies, as the competition is more intense than it used to be. In these days, they should regard services over sales promotion, as consumers may prefer to spend money on good premium services. Some differentiation in services could create a good market position for the airlines and, hence, good financial performance.