• Journal of the Korean Society of Systems Engineering
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• v.11 no.2
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• pp.1-11
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• 2015

During the industrial plant system life cycle, required technologies are developed and assessed to analyze their performance, risks and costs. The assessment is called technology readiness assessment (TRA) and the measure of readiness is called technology readiness level (TRL). The TRL consists of 9 levels and through the TRL assessment, the technology to be developed and its components are assigned to their appropriate TRL. TRL assessment should be performed in each life cycle stages to monitor the technology readiness and analyze the potential risks and costs. However, even though the concept of TRL has been largely adopted by numerous organizations and industry, direct and clear assignment of target TRL for each life cycle stage has been overlooked. Direct mapping/assignment of target TRL for each life cycle has benefits as follow: (1) the technical risks condition of each life cycle stage can be better understood, (2) cost incurred if the technology development is failed can be analyzed in each life cycle stage, and (3) more effective decision making because the technology readiness achievement for each life cycle stages is agreed beforehand. In this paper, we propose a steel-making plant system life cycle and TRL assignment to each of the system life cycle stage. By directly assigning target TRL for each life cycle stages, we look forward to a more coordinated (in terms of exit criteria) and highly effective (in terms of technical risks identification and eventually prevent project failure) technology development and assessment processes.

• Structural Engineering and Mechanics
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• v.31 no.1
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• pp.11-24
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• 2009

In China, the oil and natural gas resources of Bohai Bay are mainly marginal oil fields. It is necessary to build both ice-resistant and economical offshore platforms. However, risk is involved in the design, construction, utilization, maintenance of offshore platforms as uncertain events may occur within the life-cycle of a platform under the extreme ice load. In this study, the optimum design model of the expected life-cycle cost for ice-resistant platforms based on cost-effectiveness criterion is proposed. Multiple performance demands of the structure, facilities and crew members, associated with the failure assessment criteria and evaluation functions of costs of construction, consequences of structural failure modes including damage, revenue loss, death and injury as well as discounting cost over time are considered. An efficient approximate method of the global reliability analysis for the offshore platforms is provided, which converts the implicit nonlinear performance function in the conventional reliability analysis to linear explicit one. The proposed life-cycle optimum design formula are applied to a typical ice-resistant platform in Bohai Bay, and the results demonstrate that the life-cycle cost-effective optimum design model is more rational compared to the conventional design.

• 한국태양에너지학회:학술대회논문집
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• 2009.11a
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• pp.394-399
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• 2009

Since some decades ago, there has been a concern for resource depletion and environmental pollution associated with building properties. In addressing such impact of the built environment, there is a recognition of the existence of alternative building materials, fuels for energy supply as well as technologies for waste handling and disposal. Nevertheless, for long time, the choice between such alternatives was dictated by factors such as differences in prices and aesthetic values. A new important dimension in discriminating between different options is the environmental dimension. This aspect is important since buildings are one of the spatially big new additions to the natural environment that consume a lot of materials and energy during their long lifetime. Thus, with the environmental dimension kept in mind, a existing cost estimation needs to be changed. A new cost assessment method, Life Cycle Cost, should calculate overall costs with dimensional factors: investment and utility costs as well as maintenance costs over the lifetime of the building. Aiming to give an overview of the present status of Building Life Cycle Assessment(LCA) tools as a basis for further research and development including economic performance, this paper describes and compares 3 different tools for Life Cycle Assessment(LCA) and economic analysis of the green buildings. This paper compared these approaches based on various aspects. These include economic analysis method, evaluation duration, data of results(index). Use of the comparison analysis is to produce a better picture and indicate profits and shortcomings for the tools as a group; thus providing important direction improvement of LCA tool as well as further research and development of this group of tools.

• The Transactions of the Korean Institute of Electrical Engineers P
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• v.66 no.3
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• pp.123-128
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• 2017

Electric utilities has been considered the necessity to introduce AM(asset management) of electric power facilities in order to reduce maintenance cost of existing facilities and to maximize profit. In order to make decisions in terms of repairs and replacements for power transformers, not only measuring by counting parts and labor costs, but comprehensive comparison including reliability and cost is needed. Therefore, this study is modeling input cost for power transformer during its entire life and also the life cycle cost (LCC) technique is applied. In particular, this paper presents an application of heuristic harmony search(HS) optimization algorithm to the convergence and the validity of economic life assessment of power transformer from LCC technique. This recently developed HS algorithm is conceptualized using the musical process of searching for a perfect state of harmony. It uses a stochastic random search instead of a gradient search so that derivative information is unnecessary. The effectiveness of the proposed identification method has been demonstrated through an economic life assessment simulation of power transformer using HS optimization algorithm.

• Corrosion Science and Technology
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• v.3 no.2
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• pp.72-80
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• 2004

Recently, the demand on the practical application of life-cycle cost effective design and rehabilitation of bridges is rapidly growing in civil engineering practice. However, in spite of impressive progress in the researches on the Life-Cycle Cost (LCC), the most researches have only focused on the theoretical point but did not fully incorporate the critical issues for the practical implementation. Thus, this paper is intended to suggest a systemic integrated approach to the practical application of various LCC methodologies for the design and rehabilitation of bridges, For that purpose, hierarchical definitions of LCC models are presented to categorize the approach of LCC assessment applicable for the practical implementation. And then, an integrated LCC system model is introduced with an emphasis on data uncertainty assessment and user-friendly knowledge-based database for its successful implementation. Finally, in order to demonstrate the LCC effectiveness for design and rehabilitation of real bridge structures, illustrative examples are discussed.

• Journal of the Korean Society for Geothermal and Hydrothermal Energy
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• v.7 no.1
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• pp.23-31
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• 2011

The objectives of this study are to analyze the performance of a heat pump system with the various heat source and to carry out economic assessment for the heat pump system. The COP of the river water and ground source heat pump system was 20% higher than that of the air source heat pump system because river water and geothermal provide stable operating temperature compared with air temperature throughout the year. In addition, the economic assessment of a heat pump system using air, river water, and geothermal as a heat source was carried out. The ratio of the life cycle operating cost to the life cycle cost increased with the increase of building capacity. The payback period was found to be less than 3.3 and 4.5 years, respectively when the capacity of the river water and ground source heat pump was larger than 10 RT.

• Korean Journal of Air-Conditioning and Refrigeration Engineering
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• v.21 no.11
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• pp.621-628
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• 2009

The objectives of this study are to analyze the performance of a river water-source heat pump and to carry out economic assessment for the heat pump. The COP of the river water-source heat pump was 3-21% higher than that of the air-source heat pump because river water provides stable operating temperature compared with air temperature throughout the year. The economic analysis was carried out by comparing the initial and operating cost of the river water-source heat pump with those of the conventional air-source heat pump. The ratio of the life cycle operating cost to the life cycle cost increased with the increase of building capacity. The payback period was found to be less than 3.5 years when the capacity of the river water-source heat pump was larger than 10 RT.

• Computational Structural Engineering : An International Journal
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• v.2 no.1
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• pp.19-23
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• 2002

A reliability-based cost-benefit model for the risk management of oil platforms in the formulation of optimal decisions based on life-cycle consideration is proposed. The model is based on structural risk assessments and the integration of social issues and economics into the management decision process. Structural risks result from the platform's exposure to the random environmental loading associated with the offshore site where it is located. Several alternative designs of a typical platform are proposed and assessed from the cost-effectiveness viewpoint. This assessment is performed through the generation of cost/benefit relationships that are used, later on, to select the optimal design.

• Journal of the Korean Society of Safety
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• v.29 no.6
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• pp.94-98
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• 2014

This study was intend to develop the optimal design method of suspension bridge by the reliability analysis based on minimization of life cycle cost(LCC). The reliability analysis was performed considering aleatory uncertainties included in the result of numerical analysis. The optimal design was estimated based on life-cycle cost analysis depending on the result of reliability analysis. As the effect of epistemic uncertainty, the safety index (beta), failure probability (pf) and minimum life cycle cost were random variables. The high-level distributions were generated, from which the critical percentile values were obtained for a conservative bridge design through sensitivity assessment.

• The Journal of Sustainable Design and Educational Environment Research
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• v.12 no.1
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• pp.25-34
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• 2013

As the construction industry develops, environmental pollution gets increasingly serious, giving damage including the increase of incidence of respiratory diseases and skin diseases among children with weakened immune systems, rather than adults. In daycare centers, infants and children spending much of their time, have high frequency of contact with the interior floor finish material. However, the majority of the child care centers don not use eco-friendly flooring but ordinary monorium flooring, because the initial investment cost of the eco-friendly flooring is higher than ordinary monorium flooring. Therefore, in this study, life cycle costs including the initial investment cost of the eco-friendly flooring and ordinary monorium flooring were calculated, demonstrating that the eco-friendly flooring is more economical than ordinary monorium flooring in terms of life-cycle cost. In addition, the analysis of the environmental performance also showed the excellence of the eco-friendly floor finishes. It is expected that the use of the eco-friendly floor finishes will increase due to their excellence in the aspect of life cycle cost and eco-friendly performance, through this study.