• Title/Summary/Keyword: project finance

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Critical Impact Factors Affecting the Performance of Domestic Construction Projects through Megatrend Analysis (거시 환경 분석을 통한 국내 건설 프로젝트 성과의 주요 영향지표 도출)

  • Lim, Hyunsu;Seo, Junghoon;Yoo, Wi Sung;Kim, Chang-Won
    • Journal of the Korea Institute of Building Construction
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    • v.22 no.2
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    • pp.207-218
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    • 2022
  • Changes in megatrends occurring within the spatial range of the production process can be critical factors that affect the performance of unit projects in construction industry, one of the representative order industries. Although changes in the megatrend are a prerequisite for successful performance achievement, previous studies suggested methods for performance measurement and management within the production process as major results. Accordingly, this study analyzed the megatrend related to domestic construction projects and presented critical impact factors(CIFs) that can be affect a project's performance. CIFs were set by combining keywords derived by reviewing major contents of related laws and policies and future strategy reports, and the importance of each indicator was quantitatively analyzed using analytic hierarchy process(AHP). It is expected that the findings of this study can provide meaningful basic data that the various stakeholders in a construction project can refer to when establishing the strategies to achieve successful performance.

A Study on the Factors Affecting IT Project Performance: Focusing on the Results of K-PART of Central Government (정보화사업 성과 영향 요인 분석: 중앙행정기관 정보화사업 평가결과를 중심으로)

  • Jeong A Choi
    • Informatization Policy
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    • v.30 no.1
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    • pp.23-40
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    • 2023
  • Currently, the Ministry of Strategy and Finance operates performance evaluation of the IT projects of the central government. Recently, with the advent of the Digital New Deal and the Digital Platform Government, the budget for IT projects has significantly increased, leading to a higher level of interest in their performance. In this study, performance-related characteristics were selected through previous research, and an empirical analysis was conducted to examine whether there are actual differences in the performance of IT projects given respective characteristics. As a result of the analysis, new projects and others performed by departments or offices had a statistically significant positive effect on each final evaluation score. In contrast, IT support as well as fund-based projects had a statistically significant negative effect on each final evaluation score. This study suggests that when evaluating the performance of IT projects in the future, it is important to consider the unique characteristics of each project, as these may contribute to respective differences in performance.

An Analysis on the Plan of Revitalizing Investment for Developing Countries on the Development Project Applying System Dynamics (시스템 다이내믹스를 이용한 개발도상국 진출 및 투자개발형 사업 활성화 지원정책 분석)

  • Kim, Jae-Won;Ahn, Byung-Ju;Lee, Yoon-Sun;Kim, Jae-Jun
    • Proceedings of the Korean Institute Of Construction Engineering and Management
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    • 2007.11a
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    • pp.513-518
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    • 2007
  • Domestic construction companies are interested in finding a larger market abroad because of declining the amount of orders placed and competing the amount of orders received. Recently, the Development project including the finance offer by builder is becoming more common and broad in the flow of the world market in construction from underdeveloped countries to the advanced countries. If the construction companies revitalized because of being active in the Middle East market don't appropriately cope with the situation, they will be probably depressed. The support policies helped revitalization of the development project are examined in this study. The purpose of this study is basic data how to be influenced by the situation of market abroad, policies revitalized development project and extending market. The policies revitalized development project and the relationship of many variables near the market abroad are analyzed applying the System Dynamics as hopeful market abroad which have a circumstance finding a larger market.

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A Selection Model of Suitable Tendering System for Public Construction Projects (공공건설공사의 최적 입찰방식 선정모델)

  • Yu, Il-Han;Kim, Kyung-Rai
    • Korean Journal of Construction Engineering and Management
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    • v.9 no.3
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    • pp.164-174
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    • 2008
  • It is crucial In decision making to select a project delivery system (PDS) adjusted accordingly to the project characteristics. Furthermore, selecting a tendering system is the kernel in the process of selecting PDS. In October 2007, the Ministry of Finance and the Economy of Korea launched two new project delivery systems, "Best Value Contract (Design-Bid-Build)" and "Bridging Contracts (Design-Build)" by revising enforcement ordinances of "Act on Contracts to Which the State is a Party" to provoke the tendering systems. In order to support the proposed purpose, this research developed a selection model for suitable tendering system, which helps a public owner select a tendering system appropriate to the project characteristics. First, the framework of the model was set throughout analyzing previous researches and interviewing relevant experts. Additionally, by analyzing the survey result from 265 experts engaged in architectural and civil engineering business, the relative weights of the selection factors and the effectiveness values of the alternatives were suggested as the quantitative evaluation references. Finally, the practical guideline was suggested to apply this model to three public projects scheduled to be delivered. The result of applying the model to three case projects showed that further researches were needed to make the selection process logical and to suggest the standard weights and effectiveness values according to project type.

SMRT STnF Construction and Performance (서울특별시도시철도공사 STnF 구축과 성과)

  • Lee, Jong-Kye;Park, Jong-Hun;Kim, Ki-Chun
    • Proceedings of the KSR Conference
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    • 2011.10a
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    • pp.2573-2580
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    • 2011
  • SMRT(Seoul Metropolitan Rapid Transit Corporation) changed PC-oriented office system to Smart-Phone oriented mobile office system(STnF: SMRT Talk & Flash), and provided smart phone to all staffs. STnF make it possible not only voice communication between staff, but also to input and inquiry all kind of information related to work(ex: Facility maintenance, Rolling Stock management, office management, Finance, human resource etc.) based on smart phone. STnF conquers the limitation of time and space. All staffs can commute to the site directly to reduce moving time and to share information between staffs, so SMRT improve speed and reliability of work by making a quick decision and action on the spot. After introduction of STnF, within 1 year, the equipment failure ratio fell to 47%. Mobile office system reduced and level-off the step of approval. so enhanced civil customer service. Quantification and scientific movement of work make it fast evolution and development. These business improvement make it possible to put more outstanding manpower on new business and R&D project, and this contributes to company's management effectiveness.

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Improving Maintenance Management Practices for Building Facility

  • Ismail, Zul-Atfi
    • Journal of Construction Engineering and Project Management
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    • v.4 no.3
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    • pp.21-32
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    • 2014
  • The practiced conventional methods for maintenance management in Malaysian Polytechnic faced many issues due to poor service delivery, inadequate finance, poor maintenance plan and maintenance backlogs. The purpose of this study is to improve the conventional method practices which tend to be ineffective in Malaysian Polytechnic. The case studies were conducted with eight Polytechnics and are selected based on conventional method practices and its major problems. There are around 32 Polytechnics in Malaysia and almost are using conventional methods. The number is considered very big indicating that the use of modern Information and Communication Technology (ICT) is still very limited compared to other institutions of higher learning in Malaysia. The overall findings of this research indicated; poor service delivery, inadequate financial, poor maintenance planning and maintenance backlogs. There is also need to overcome less man power competencies of maintenance management practices which existed with all eight Polytechnics. The proposed system is intended to be used for maintenance management practices at Malaysian Polytechnics in order to provide high-quality of building facility with safe and healthy environments.

A Study on the Improvement of Rural Community Design (농촌마을만들기의 개선방안에 대한 연구 -충북지역을 중심으로-)

  • Choi, Hyo-Seung
    • Journal of the Korean Institute of Rural Architecture
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    • v.7 no.1
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    • pp.39-50
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    • 2005
  • This study is result of interview and investigation into three rural communities progressing Rural activity, and points to be considered before promoting policy 1) Resident participation taking a lot of time, need to sustainable education and chance of personal experience, as well as stage of working plan and performance must be a serious consideration about resident opinions. 2) Until placing operation and management on the right track, experts and administrators will be help aspects of software and finance. 3) It is necessary to periodically train rural activity experts, and educate business persons. 4) Through checking a process, each community improve, supplement, will work out the next support system.

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Educational Development Plan for the Future Popultion Growth (장기인구성장에 따른 교육개발)

  • 박덕규
    • Korea journal of population studies
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    • v.8 no.1
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    • pp.20-46
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    • 1985
  • The increase of the population has an effect on the increase of students. The high birthrate, which means the extension of enrollments in the future, requires preparation of enough facilities and equipment for education. However, the educational conditions of Korea are not yet developed, and in such a situation the increase of enrollments makes the improvement of educational conditions difficult. Besides, the influx of students into the large cities has made complex educational problems such as a decrease of students in the rural area and a change for the worse of the educational conditions in the urban area. For the development of education in such a situation, an emphasis should be put not only on security of a stable educational finance but also on activation of family planning project and curb of population influx into large cities in the realm of population policy. In addition, population education for the youth should be strengthened in order that they can have sound view of family life, married life, children, and sex moral. For the way the young married live has relationship with the number and quality of children in the future of our nation.

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Independence and Transparency of the Central Bank of Kazakhstan

  • Nurbayev, Daniyar
    • The Journal of Asian Finance, Economics and Business
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    • v.2 no.4
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    • pp.31-38
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    • 2015
  • During the last two decades the idea that central bank independence and transparency helps to maintain price stability, became popular among economists and central bankers. Many countries' governments give their monetary authorities higher independence and transparency to achieve the price stability goal. However, emerging countries such as Kazakhstan, suffer from high inflation. This inflation occurs largely due to a low level of independence and transparency of central banks. This research project measures the current level of independence and transparency of central bank of Kazakhstan. Indices were used to measure central bank independence and transparency. Central bank independence was measured by two types of indices: based on central bank laws (legal independence) and based on central banks governor's turnover (TOR). Developing countries have a weak legal framework, implying that a legal independence index cannot be appropriate to use as a measures of actual independence. Therefore, by paying attention to the other two indices, we can say that the central bank of Kazakhstan has a low level of independence and transparency. This, in turn, can be one of the causes of high inflation in Kazakhstan.

ON THE STRUCTURAL CHANGE OF THE LEE-CARTER MODEL AND ITS ACTUARIAL APPLICATION

  • Wiratama, Endy Filintas;Kim, So-Yeun;Ko, Bangwon
    • East Asian mathematical journal
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    • v.35 no.3
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    • pp.305-318
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    • 2019
  • Over the past decades, the Lee-Carter model [1] has attracted much attention from various demography-related fields in order to project the future mortality rates. In the Lee-Carter model, the speed of mortality improvement is stochastically modeled by the so-called mortality index and is used to forecast the future mortality rates based on the time series analysis. However, the modeling is applied to long time series and thus an important structural change might exist, leading to potentially large long-term forecasting errors. Therefore, in this paper, we are interested in detecting the structural change of the Lee-Carter model and investigating the actuarial implications. For the purpose, we employ the tests proposed by Coelho and Nunes [2] and analyze the mortality data for six countries including Korea since 1970. Also, we calculate life expectancies and whole life insurance premiums by taking into account the structural change found in the Korean male mortality rates. Our empirical result shows that more caution needs to be paid to the Lee-Carter modeling and its actuarial applications.