• KSCE Journal of Civil and Environmental Engineering Research
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• v.31 no.6B
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• pp.551-563
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• 2011

Water resource projects need an enormous national budget. Therefore, a reasonable and reliable decision making is required for the planning of water resource projects, but decision making has been mostly performed by economic analysis. The objective of this study is to develop a Multi-criteria Decision Making(MCDM) model which can assess the project in various aspects for the selection of preferable alternative and determination of investment priority in water resource projects. In this study, the criteria involves economic feasibility, policies, vulnerability, and sub-items which have weights obtained from the expert survey for the consistent evaluation. We also derived the utility function considering risk trend of each item based on the expert survey. Then, the total score was estimated by weights of each item and utility score of each attribute. The results show that vulnerability is a major contributor for the criteria. This study will contribute to the selection of proper water resource projects considering efficiency of project and fairness for vulnerable area.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.11
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• pp.549-556
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• 2020

Real estate markets play an essential role in the economic development of both developed and developing countries. Investment decisions in private real estate demand the consideration of several qualitative and quantitative criteria. Especially in Vietnam, demand for housing, apartments are rising which has resulted because of the migration from rural to urban areas. This study aims to determine the influencing factors of the real estate purchasing behavior and then recommend a grey Multi-Criteria Decision Making (MCDM) support model to evaluate real estate alternatives based on a numerical example in Vietnam. A set of essential criteria are identified based on experts' opinion, and the proposed determinants are initial investment, maintenance cost, prestige location, distance to interesting places, parking lot, public transportation, property condition, total area size, number of rooms, and neighbors. The subjective weights were obtained by using the Decision-Making Trial and Evaluation Laboratory (DEMATEL) model, and the Grey Relational Analysis (GRA) technique is employed to prioritize and rank real estate alternatives. The results reveal that this approach can be useful to make purchasing decisions for many kinds of real estate property under uncertain business environments. These findings indicate that the presented hybrid model has advantages in granting flexibility to the preferences of decision makers.

• IE interfaces
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• v.14 no.3
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• pp.310-317
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• 2001

The purpose of this study is to investigate and to develop a decision support system for supporting the outworn facility replacement analysis in shipbuilding. This paper also provides an information system which can be effectively applied to various criteria in decision making. The modelbase of decision support system uses the concepts of the analytic hierarchy process along with an appropriate scoring methods. The AHP represents an improvement over other well-known scoring approaches since the criteria weights of priorities established by the AHP are not based on arbitrary scales, but use a ratio scale for human judgements. The proposed methodology in this research enables the decision maker to evaluate the investment alternatives based on qualitative data and quantitative data in a systematic way.

• Proceedings of the Korea Society for Simulation Conference
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• 2001.10a
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• pp.340-345
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• 2001

Electric power market in Japan is now on the trend of deregulation and privatization just like in Europe and the United States. And various approaches for risk management have been investigated taking the electric power price fluctuation after the deregulation into account. The behavior of the investment in power generation plants has not, however, been studied in detail yet due to the complexity of the problem. The problem of the investment in the deregulated power market is that of autonomous decentralized decision-making system, which includes various kinds of decision-makers, that is, power producers called IPPS Each generator has its own criteria for plant investment. Therefore, the total behavior of the decentralized power market will be so complicated, and normative approach will not be applicable fur this analysis. We have developed a simulation-based system fur behavioral analysis and also the framework design of the decentralized power market.

• Proceedings of the KIEE Conference
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• 1993.07a
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• pp.36-38
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• 1993

This study considers the economic aspect of the distribution automation system, which is the decision-making criteria of the electric utilities for the investment. The feeder automation candidate region is divided into two types of the urban and the rural. The total investment cost of the feeder automation for each type is estimated. The annual cost, is also estimated, by finding the fixed charge rate. To compare the annual cost and the economic effect cost, for the investment decision-making, the costs are quantitatively estimated on the following effects : the manpower replacement, the outage cost saving, the main transformer utilization improvement, the feeder utilization improvement, and the line loss reduction.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.19 no.1
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• pp.1-21
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• 2024

Recently, venture capital investment has been shrinking globally due to high interest rates and economic slowdown. Korea is no exception. Due to the downturn in the M&A and public markets, increasing economic uncertainty, and the aftermath of corporate bankruptcies, venture capitalists are facing many difficulties in raising funds. In the changed economic environment, the investment decision factors of venture capitalists have also changed. However, studies on VCs' investment decisions have focused on the general economic environment. This study examines how VCs' investment decision-making factors change during economic recessions and booms. To this end, we interviewed active investors who have experienced both economic recessions and booms to compare how VCs' investment decision factors change: 1) personal characteristics of founders, 2) experience of founders, 3) product/service, 4) market, 5) financial situation, 6) contract terms and 7) venture capital co-investment. The results showed that founder's personal characteristics, experience, and product/service were more important during the economic recession. Market is slightly more important during economic booms. The importance of financial situation and investment conditions increased sharply during the recession compared to the boom. Finally, venture capital co-investment did not differ significantly between recessions and booms. By understanding the investment decision-making factors of venture capitalists in the recent difficult venture investment environment, this study aims to help startups raise funds and survive in a difficult market.

• Journal of Environmental Impact Assessment
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• v.11 no.2
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• pp.93-107
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• 2002

The choice of big public investment project needs an appropriate feasibility analysis before it is implemented, bemuse a rot wisely chosen one would bring about big and longrun societal costs. But the feasibility analysis for the big public investment project in Korea has been done without linking the economic benefits and environmental damages. Consequently social conflicts arose frequently during and after project implementation, owing to such concerns asincreasing costs and serious ecological damages. The recent social conflict over the Saemangeum Project is a typical case. This reclamation project began in 1991 and finished 60% of the whole process in 1999, when its feasibility was again assessed under the public pressure by the joint assessment team consisting of both citizen's and government's professionals. Even the assessment report by this joint team could not show the convincing results owing to the improper assessment procedure and failure to set proper feasibility criteria. This paper pointed out the limitations of our current procedure of feasibility assessment and identified the concrete problems that atosee during the recent reassessment process of the Saemangeum reclamation project by the joint team. In order to improve the current problem-ridden practices, it is concluded by the policy recommendation for establishing a right feasibility assessment procedure for the public investment projects.

• Korean Management Science Review
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• v.16 no.1
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• pp.63-74
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• 1999

This paper presents a R&D investment model for the Information and telecommunications(l&T) technology using multiple objective linear programming(MOLP). The MOLP model involves the simultaneous maximization of three linear objective functions associated with three criteria, which are social, technological, and economic criterion. This model is different from the traditional one which only involves the maximization of economic criterion. It yields a suitable R&D investment ratio to each technology field. Its application to the National R&D Project in l&t Industry is also presented. In this application, the Analytic Hierarchy Process(AHP) is proposed to estimate the weights, which used as the coefficients in each objective function of the MOLP model. Then the problem is solved using the interactive method STEM. It is showed that with the aid of STEM, the MOLP model can be useful decision aid in formulation R&D investment plan in l&t industry. It is expected that the MOLP model works as the basis for planning R&D investment strategy in l&T industry.

• Information Systems Review
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• v.8 no.1
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• pp.265-285
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• 2006

The purpose of this research is to identify the major evaluation criteria of IT investment projects and establish the importance weights of criteria through AHP analysis. Seven evaluation criteria which have been drawn from prior studies and industry practices are direct costs, indirect costs, financial benefits, strategic value, risk, technical necessity, and political considerations. Data have been collected from 95 IT projects in 40 public organizations and private firms in Korea. After having applied the data reliability test, 79 projects have been selected. The results of AHP analysis show the importance weights and priorities of seven evaluation criteria as follows: financial benefits 25.2%, strategic value 22.36%, direct costs 14.34%, risk 12.10%, technical necessity 11.55%, political considerations 8.3%, and indirect costs 6.48%. And the weights of seven criteria shows considerable differences among three different IT project types such as transactional, informational, and infrastructural.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.18 no.35
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• pp.123-130
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• 1995

The analytic hierarchy process(AHP) is a multi-criteria decision methodology developed by T.L.Saaty(1980). The AHP presents flexible, easily understood wry to assist the decision-marker in formulating his problem in a logical and rational manner. This paper addresses the concept of AHP and its application in the evaluation of nuclear and coal-fired power generations.