• Journal of the Korea Safety Management & Science
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• v.9 no.2
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• pp.195-214
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• 2007

The purpose of this study is to explore the applicability of AHP(Analytic Hierarchy Process) to select more productive projects among various proposed projects in a particular company. To achieve this research objective, the characteristics of project evaluation and selection are first reviewed with respect to when, where, and how the decision is made. Then the theoretical basis of the AHP is briefly reviewed along with its mathematical underpinnings to construct the framework of project evaluation and selection. To be more specific, the evaluation and selection criteria were reorganized in the AHP-based framework to make the process of project evaluation and selection more productive. Project evaluation and selection is one of the most important activities for the most companies to be more advantageous in the market. Despite the importance of decision making process of project selection, not many of how to choose the best project were suggested as the reliable project selection methods in the industries. It may be because it involves various activities related to conflict resolution among different evaluation criteria, high uncertainties of market, and the unclear tradeoff among various project objectives. Furthermore, the decision, once made at this point, tends to be irrevocable until the whole process turns out to be a complete success or failure. As the result, the AHP method showed better financial performance rather than the traditional method in a case study.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.40 no.1
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• pp.50-56
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• 2017

The IRR (internal rate of return) is often used by investors for the evaluation of engineering projects. Unfortunately, it is widely known that it has serial flaws. Also, External rate of returns (ERRs) such as ARR (Average Rate of Return) or MIRR (MIRR, Modified Internal Rate of Return) do not differentiate between the real investment and the expenditure. The PRR (Productive rate of return) is faithful to the conception of the return on investment. The PRR uses the effective investment instead of the initial investment. In this paper, we examined two cases of the engineering project. the one is a traditional engineering project with financing activity, another is the project with R&D. Although the IRR has only one value, it overestimates or underestimate profitabilities of Engineering Projects. The ARR and the MARR assume that a returned cash reinvest other projects or assets instead of the project currently executing. Thus they are only one value of a project's profitability, unlike the IRR. But the ARR does not classify into the effective investment and non-investment expenditure. It only accepts an initial expenditure as for an investment. The MIRR also fails to classify into the investment and the expenditure. It has an error of making a loss down as the investment. The IRR works as efficiently as a NPW (Net Present Worth). It clearly expresses a rate of return in respect of an investment in an engineering project with a loan. And it shows its ability in an engineering project with a R&D investment.

• The KIPS Transactions:PartD
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• v.10D no.1
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• pp.77-84
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• 2003

Experts work teams generally agree that small teams are better than large teams for getting things done. Also, always aim for the lowest practical team size. But what does "small" mean\ulcorner We Introduce to productive metrics such as project delivery rate (PDR) and speed of delivery (SOD) for decision criteria of ideal team size. The experimental is based on the analysis of 300 project data. These data sets are divide in two subgroups. One is a development project ; the other is a maintenance project. As a result of experimental in two subgroup, we come to the conclusion that the molt successful projects has small teams indeed staffed with maximum five persons. This paper presents ideal team size in order to provide information that can be used as a guide in selecting the most practical and productive-based team size for a software development project.t project.

• Journal of the Korean Operations Research and Management Science Society
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• v.20 no.1
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• pp.85-99
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• 1995

Increasingly, risk analysis is becoming important ingredients in achieving the successful implementation and application in the area of the project management. The project management system is designed to manage or control the project resources on a given activity within time, cost and performance so called TPPM (Total Productive Project Management). In this research, a risk analysis model misproposed to identify potential problem areas, quantify the risks, and generated the chice of the action that can be taken to reduce the risk. In addition two analysis models are proposed : 1) risk factor model and 2) network simulation model using VERT (Venture Evaluation and Review Technique ). The objective of the remodels is to estimate the schedule, cost performance risks. These proposed quantitative models for project risk analysis are proving its value for the project managers who need to assess the risk of changes in cost, schedule, or performance. The proposed models will be used in the area of project selection, evaluation and the allocation of project resources.

• Proceedings of the Korean Society of Agricultural Engineers Conference
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• 2001.10a
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• pp.220-223
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• 2001

This study was carried out to developed that appraisement model of Potential Productivity Index (PPI). PPI model was used Farmland Productivity Index(FPI) and Labor Productivity Index(LPI) by GIS, and PPI model applied to farm land consolidation region which has been completed recently. FPI was determined by overlapping Poly Grid of the soil properties at the analyzed project region. LPI was estimated by addition productive wages ratio of total direct productive cost. Addition productive wages was determined by GIS Network analysis of working distance between farm house to paddy and each paddy. PPI variation of each the analyzed paddy of Masu and Weoncheon region was $0.967{\sim}0.712,\;0.986{\sim}0.780$ respectively, and could be showed relative largely PPI value. PPI will provide basic element for large scaling and gathering of farm land and a substitute lot of farm land consolidation, and will be maximize productivity of paddy.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.32 no.6D
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• pp.645-653
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• 2012

The productivity management of highway construction is required to innovate the efficiency of investment The productivity management of highway construction is required to innovate the efficiency of investment cost for newly constructed projects and to improve the quality of these projects, as the maintenance and management expenses are steadily increasing for existing highways under operation. However, clear criteria, methods or requirements to measure the productivity and performance in the construction of highways have not been properly established yet. This study defined 5 major elements of the productive projects in terms of construction management which is one of major tasks of the owner. There were the 43 influential elements significantly affecting on the productivity and these elements were categorized into the hierarchical structure which was composed of 3 levels. Also, this study conducted a survey for Korea Expressway Corporation who is the largest owner in Korea's highway construction. As a result, major project performance indicators, which should be addressed for management, to execute the projects successfully, are presented through understanding the extent of the affection of productivity elements on the elements of project performance to attain the productive projects and through understanding the extent of demand to be improved.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.38 no.3
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• pp.95-99
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• 2015

The IRR(internal rate of return) is often used by investors for the evaluation of engineering projects. Unfortunately, it has serial flaws: (1) multiple real-valued IRRs may arise; (2) complex-valued IRRs may arise; (3) the IRR is, in special cases, incompatible with the net present value (NPV) in accept/reject decisions. The efforts of management scientists and economists in providing a reliable project rate of return have generated over the decades an immense amount of contributions aiming to solve these shortcomings. Especially, multiple internal rate of returns (IRRs) have a fatal flaw when we decide to accep it or not. To solve it, some researchers came up with external rate of returns (ERRs) such as ARR (Average Rate of Return) or MIRR (MIRR, Modified Internal Rate of Return). ARR or MIRR. will also always yield the same decision for a engineering project consistent with the NPV criterion. The ERRs are to modify the procedure for computing the rate of return by making explicit and consistent assumptions about the interest rate at which intermediate receipts from projects may be invested. This reinvestment could be either in other projects or in the outside market. However, when we use traditional ERRs, a volume of capital investment is still unclear. Alternatively, the productive rate of return (PRR) can settle these problems. Generally, a rate of return is a profit on an investment over a period of time, expressed as a proportion of the original investment. The time period is typically the life of a project. The PRR is based on the full life of the engineering project. but has been annualised to project one year. And the PRR uses the effective investment instead of the original investment. This method requires that the cash flow of an engineering project must be separated into 'investment' and 'loss' to calculate the PRR value. In this paper, we proposed a tabulated form for easy calculation of the PRR by modifing the profit and loss statement, and the cash flow statement.

• The KIPS Transactions:PartD
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• v.10D no.7
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• pp.1127-1136
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• 2003

Estimation of software project cost, effort and duration in the early stage of software development cycle is a difficult and key problem in software engineering. Most of models estimate the development effort using the function point that is measured from the requirement specification. This paper presents optimal team size and duration prediction based on function point in order to provide information that can be used as a guide in selecting the most Practical and productive team size for a software development project. We introduce to productive metrics and cost for decision criteria of ideal team size and duration. The experimental is based on the analysis of 300 development and enhancement software project data. These data sets are divide in two subgroups. One is a development project; the other is a maintenance project. As a result of evaluation by productivity and cost measured criteria in two subgroups, we come to the conclusion that the most successful projects has small teams and minimum duration. Also, I proposed that predictive model for team sire and duration according to function point size based on experimental results. The presented models gives a criteria for necessary team site and duration according to the software size.

• The Journal of the Korea Contents Association
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• v.14 no.5
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• pp.487-497
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• 2014

The purpose of this study is to investigate the efficacy of interaction using Wiki in communication-oriented classes taught by native teachers on the incidental improvement of productive vocabulary knowledge. Eighty two university freshmen participated in the study and they were divided into two groups. Thirty eight students(Process Group) received process feedback from the teacher while forty four students(Result Group) received result feedback. They were given a short movie project working in a group of four or five people to practice interaction between peers and between students and the teacher. Data were collected from one receptive and three productive vocabulary knowledge test scores. The results showed that interaction using Wiki was conducive to the growth of productive vocabulary knowledge incidentally due to continuous opportunities to use vocabulary. The students of process feedback group made greater gains of productive vocabulary than those of result feedback group. Based on these results, pedagogical implications are discussed.

• Journal of Climate Change Research
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• v.7 no.2
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• pp.137-142
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• 2016

To achieve large-scale carbon removals, a carbon offset project based on forest management was designed and its carbon stock change was estimated in this study. The project was designed for 874 hectares of forests in the Jin-An Leading Forest Management Zone. For estimating the carbon stock change of the project, the Korean Forest Carbon Standard and VCS (Verified Carbon Standard) methodologies were applied. Three types of management options were considered in the project : extension of rotation age, conversion to productive forests, and conversion to selective harvesting. The estimated carbon removals from the project designed in this study were $259,936tCO_2$ ($8,664tCO_2$ annually), which is 98% of estimated carbon removals from the entire 69 projects currently registered to the Forest Carbon Offset Registry in Korea. The results of this study showed that a large-scale carbon offset project based on forest management could have a huge potential to produce carbon offset credits.