• Journal of Korean Society for Geospatial Information Science
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• v.1 no.1 s.1
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• pp.217-225
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• 1993

The cost/benefit analysis method is frequently used in the feasibility study of investments on geo-spatial information system. The cost/benefit analysis method has been applied extensively in the feasibility study of conventional information systems and recently efforts has been made to apply this method to geo-spatial information systems as well. This study efforts were made to present a cost/benefit model suitable for Korean GSIS and this model was then applied to Facility Management. In establishment of the cost model, the items of various costs were defined and a survey was made to find the average unit cost of each item. For the benefit model, the benefits of implementing a geo-spatial information system is classified into tangible and intangible benefits and only th tangible benefits were further classified. The established cost/benefit model was then applied to a gas distribution company with more than 100 employees and more than 300,000 customers. A GSIS was designed and the cost its implementation was compared to the present manual method of operation.

• Journal of the Korean Society of Marine Environment & Safety
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• v.22 no.4
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• pp.354-361
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• 2016

While the amounts of oil spill caused by the VLCC Hebei Spirit indicated 2.5 times more than that of the VLCC Sea Prince, the economic, environmental, and social damages derived from the Hebei Spirit spill were estimated to be about 30 times greater than those from the Sea Prince incident. This study consolidates the appropriate justification for building a multi-purpose large oil spill response vessel to allow swift and efficient handling of catastrophic marine pollution events through an analysis of technical and economic feasibility of such a project. The result of the technical feasibility analysis illustrates that a hopper dredge and oil spill response vessel with a capacity of 4,000 tons should be more appropriate. The result of the economic feasibility analysis indicates that under the most conservative estimates the project appears to be slightly impractical, with a benefit/cost ratio of 0.82, in which self-help efforts, however, can facilitate the project. And medium to optimistic estimates present benefit/cost ratios are estimated to be 2.72 and 5.82 respectively, representing apparent economic feasibility.

• Journal of Korean Society of Water and Wastewater
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• v.26 no.2
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• pp.191-199
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• 2012

Rainwater harvesting systems (RWHS), one of measures for on site rainwater management, have been promoted by laws, regulations and guidelines and have been increased. However, more evaluation of economic feasibility on RWHS is still needed due to seasonal imbalance of rainfall and little experiences and analysis on design and operation of RWHS. In this study, we investigated tank capacity of RWHS to secure economic validity considering catchment area and water demand, which is affected by building scale. Moreover, sensitivity analysis was performed to examine the effect of design factors, cost items and increase rate of water service charge on economic feasibility. The BCR (benefit cost ratio) is proportional to the increase in tank capacity. It is increased steeply in small tank capacity due to the effect of cost and, since then, gently in middle and large tank capacity. In case of 0.05 in the rate of tank volume to catchment area and 0.005 in water demand to catchment area, BCR was over one from the tank capacity of 160 $m^{3}$ taking into account of private benefits and from the tank capacity of 100 $m^{3}$ taking into account of private and public benefits. Sensitivity analysis shows that increase of water demand can improve BCR values with little cost so that it is needed to extend application of rainwater use and select a proper range of design factor. Decrease of construction and maintenance cost reduced the tank volume to secure economic validity. Finally, increase rate of water service charge had considerable impact on economic feasibility.

• Proceedings of the Korean Institute of Building Construction Conference
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• 2002.11a
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• pp.103-109
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• 2002

This research is aiming to specify the requirement of the investment such as initial cost, running cost earning rate to make effective investment considering the purpose of remodeling and economical value of store building enough to meet the initial purpose of remodeling. The review of earning rate for economical evaluation was performed by the on-site auditing on the structure and function of the building and applying the assessment simulation program, which is to find the possible business model to identify the requirement of building owner through case study. After the research, the following results are obtained. First, it is important that many aspects should be carefully analysis and the best method should be selected as characteristics of remodeling can be defer each other in their implementations. Second, though the remodeling of exist buildings to promote the functions has been applied. no suitable assessment tool has bee developed for deciding the level of remodeling in the view of economical efficiency so far. Third, the economical benefit was evaluated by analysing annual earning rate which is applied by investment items and recovery period for the investment. More specific data bate should be established to apply the suggested economic accession in business enough to forecast the future circumstances. More researches should be promoted on this area continuously as well as the integrated economic evaluation of remodeling on existing building.

• Health Policy and Management
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• v.29 no.2
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• pp.99-104
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• 2019

On May 1, 2019, the Minister of Health and Welfare announced publicly the first Comprehensive Plan of National Health Insurance (NHI). The Comprehensive Plan which is the 5-year plan including expenditure and revenue aspect of NHI, is desirable in 42 years of introduction of NHI and 30 years of universal coverage of NHI, though the Plan was late and had some conflict process. The Comprehensive Plan was established without evaluation of Moon's Care Plan, did not included to relationship with NHI and other health security systems, and did not have the blue print of NHI. The Plan was not sufficient in content of adequate health care utilization and relationship with service benefit and cash benefit. The Comprehensive Plan should be modified in considering the blue print of NHI and national healthcare system with participating stakeholder in turbulent environment-low fertility, rapid ageing, low economic growth rate, era of non-communicable diseases, unification of the Korean Peninsula, and 4th industrial revolution. Therefore, I suggest to establish the President's Committee of Improving Healthcare System for the blue print of health care and NHI.

• Journal of Navigation and Port Research
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• v.39 no.2
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• pp.99-105
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• 2015

Until recently, thermal power plants have used high-rank coals to generate electricity. The switched to low-rank coals, primarily because of the rising coal price and the advancement of combustion technology. Therefore the thermal power plants need more fuels aspect of quantity and they are going to build extra infrastructure to deal with the increased fuel demand in their specialized ports. This paper introduces the process of the economic analysis as a case study for Hadong T/P(Thermal Power) Port. This study also evaluates investment for mew projects in ports. We analyze the costs and benefits of the port investment project using various information. And then we conduct the economic analysis using NPV(net present value), B/C ratio and IRR grounded in a financial theory. Out result of the economic feasibility shows that the new project of constructing a third berth in Hadong T/P Port has positive economic value. Additionally, this study conducts the sensitivity analysis of the major variables like cost, benefit and discount rate.

• The Journal of the Institute of Internet, Broadcasting and Communication
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• v.15 no.3
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• pp.131-136
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• 2015

The feasibility study is an evaluation and analysis of the potential of a proposed project. It is based on extensive investigation and research to support the process of decision making. A systematic approach to determining the optimum use of scarce resources, involving comparison of two or more alternatives in achieving a specific objective under the given assumptions and constraints. Economic analysis takes into account the opportunity costs of resources employed and attempts to measure in monetary terms the private and social costs and benefits of a project to the community or economy. Cost-benefit analysis (CBA), sometimes called benefit-cost analysis (BCA), is a systematic approach to estimating the strengths and weaknesses of alternatives that satisfy transactions, activities or functional requirements for a business. It is a technique that is used to determine options that provide the best approach for the adoption and practice in terms of benefits in labor, time and cost savings etc. The CBA is also defined as a systematic process for calculating and comparing benefits and costs of a project, decision or government policy and projects.

• Journal of the Architectural Institute of Korea Planning & Design
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• v.34 no.3
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• pp.23-34
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• 2018

Due to a waste of energy in korea, about 525,000 which are 75 percent of total buildings are at least 15 years old buildings that need remodeling. There are two current remodeling systems. One is a remodeling system to reduce a waste of resources from the reconstruction. The other is a green-remodeling system aimed to energy savings and reducing environmental costs. This study is to analyze quantitatively these current systems with respect to the cost-benefit caused by the life cycle and suggests the political and institutional implications through the interpretation of the results. For a quantitative analysis, we analyzed reducing maintenance costs and rent benefits with simulation by using opportunity costs, construction costs, plan costs and supervision costs as expense variables and using the reduced floor area ratio, institutional incentives, energy, water resources and certified emission reduction(CER) as benefit variables. As a result of the empirical study, the green-modeling was more beneficial in the field of environment such as the energy savings, however, the final benefits of remodeling which has no green building certification costs but more floor area ratio incentives were more economical. The green-remodeling system focused on reducing environmental costs and energy savings needs a equatable institutional incentive system.

• 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.

• International Journal of Highway Engineering
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• v.20 no.1
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• pp.147-156
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• 2018

PURPOSES : The purpose of this study is to analyze the characteristics of the weight values of evaluation items by traffic safety project type. METHODS : In general, a large-scale investment in projects such as the traffic safety project requires economic analyses to be performed in advance. However, there is an argument for considering special characteristics of the traffic safety project. Therefore, this study conducted characteristic analysis of the weight values of evaluation items. The analysis consisted of two steps. The first step was hypothesis verification using analysis of variance (ANOVA). In this process, the authors examined whether the weight of evaluation items is the same regardless of the traffic safety project type. Based on the first step's results, the authors proceeded to the second step. The objective of this step was to analyze how different the weight values are by traffic safety project type using an analytic hierarchy process. RESULTS : According to the ANOVA test results, the benefit to cost ratios have different weight values based on traffic safety project type at the 0.01 significance level. The policy evaluation items, such as the plans connection, resident opinion, and regional equity, also showed the same results except that the result for the related plans connection was statistically significant at the 0.05 level. Based on the first step's result, the AHP analysis in the second step showed that the traffic safety projects for vulnerable users and pedestrians have very low weight values in economic evaluation factors compared with other safety project types. The weight values for vulnerable users and pedestrians were 0.29 and 0.26, respectively, in economic evaluation items. On the other hand, the weight values for other safety project types were around 0.6. Among the policy evaluation items, resident opinion showed a higher weight value than other factors, such as connection and regional equity items. CONCLUSIONS : The social and economic impact of a traffic safety project varies by project type and project characteristics. Although the economic approach is overarching and a reasonable methodology is applied for large-scale projects, it should be noted that the safety issue, especially for transportation of vulnerable uses, requires a non-economical approach. Based on the analysis results, this study suggests that the priority of the projects should be determined by separating them into independent assessment groups depending on their characteristics.