• Journal of Construction Engineering and Project Management
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• 제4권4호
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• pp.33-40
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• 2014

Maximizing the profitability and minimizing the duration of construction projects in extreme weather regions is a challenging objective that is essential for project success. An optimization model is presented herein for the time-profit trade-off analysis of construction projects under extreme weather conditions. The model generates optimal/near optimal schedules that maximize profit and minimize the duration of construction projects in extreme weather regions. The computations in the model are organized into: (1) a scheduling module that develops practical schedules for construction projects, (2) a profit module that computes project costs (direct, indirect, and total) and project profit, and (3) a multi-objective module that determines optimal/near optimal trade-offs between project duration and profit. One example is used to show the impact of extreme weather on construction time and profit. Another example is used to show the model's ability to generate optimal trade-offs between the time and profit of construction projects under extreme weather conditions.

• ETRI Journal
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• 제32권4호
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• pp.512-519
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• 2010

A cooperative model is presented to enable sharing of the spectrum with secondary users. Compared with the optimal model and competitive model, the cooperative model could reach the maximum total profit for secondary users with better fairness. The cooperative model is built based on the Nash equilibrium. Then a conceding factor is introduced so that the total spectrum required from secondary users will decrease. It also results in a decrease in cost which the primary user charges to the secondary users. The optimum solution, which is the maximum total profit for the secondary users, is called the collusion state. It is possible that secondary users may leave the collusion state to pursue the maximum of individual profit. The stability of the algorithm is discussed by introducing a vindictive factor to inhabit the motive of deviation. In practice, the number of secondary users may change. Adaptive methods have been used to deal with the changing number of secondary users. Both the total profit and fairness are considered in the spectrum allocating. The shared spectrum is 11.3893 with a total profit of 65.2378 in the competitive model. In the cooperative model, the shared spectrum is 8.5856 with the total profit of 73.4963. The numerical results reveal the effectiveness of the cooperative model.

• 아태비즈니스연구
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• 제6권2호
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• pp.1-17
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• 2015

This study compares the most widely used parametric and non-parametric techniques to measure cost and profit efficiency of banks, namely the Stochastic Frontier Analysis (SFA) and Data Envelopment Analysis (DEA). We formulate the specification form of both stochastic cost and profit frontier models and constant return to scale Cost DEA and Profit DEA models and provide an empirical assessment of the cost and profit frontiers based on a panel dataset of National Commercial Banks (NCBs) and Private Banks (PBs) in Bangladesh over the 2001-2010 period. The cost inefficiency and profit efficiency are slightly higher for PBs than NCBs in case of both SFA and DEA. The coefficients of advance and off-balance sheet items are significant that positively influence the banks in stochastic cost frontier model while the advance, other earning assets, price of borrowed fund are significant and negative effects on the banks in stochastic profit frontier model. The average cost inefficiency and average profit efficiency are recorded with 16.3% and 91% respectively. The highest and lowest cost inefficiency are observed for Janata Bank and United Commercial Bank Limited whilst the highest and lowest profit efficiency are recorded for Eastern Bank Limited and Janata Bank respectively. The average technical and allocative efficiency are 68.8% and 35.9%, respectively in case of CRS cost-DEA model whereas they are 70.3% and 31.8% in case of CRS profit-DEA model. The average cost inefficiency is recorded 6.3% by SFA whereas it is 24.5% by DEA. The average profit efficiency is found 91% by SFA while it is 22.1% by DEA, and SFA method shows better bank efficiency than DEA.

• Journal of Construction Engineering and Project Management
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• 제1권3호
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• pp.28-37
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• 2011

Domestic construction companies are suffering from financing difficulties in the wake of the economic slump in Korea and abroad. During this economic slump, real estate investment trusts (REITs), facilitators for improving financing and stimulating construction businesses, have increasingly expanded since their introduction in 2001. However, in terms of growth speed and marketing size, Korean REITs are falling behind those of other nations. The purpose of this study is to suggest a method for composing a portfolio using the Markowitz portfolio selection model to stimulate REITs. The main contents are as follows. First, a comparative analysis was conducted of increased REIT profit with the application of the Markowitz model and the average REIT profit rate from July 3, 2007, to July 21, 2008, during the investment analysis periods. The results showed that the total profit rate from the Markowitz model was about 10% higher than the average REIT profit rate. Second, the sensitivity was analyzed according to the portfolio's data-gathering and replacement cycle to measure the optimum cycle and yield. The six-mouth profit data collection period showed about 16% higher profits with the Markowitz model than with the REITs. The two-week portfolio change period resulted in about 11% higher profits with the Markowitz model than with the REITs.

• Architectural research
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• 제13권3호
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• pp.49-56
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• 2011

Competitive bidding in construction is concerned with contractors making strategic decisions in respect of determination of bid price if contractors opt to bid. This study presents a strategy model for deciding optimum tender price with reflecting appropriate profit in competitive bidding using Bayesian regression analysis (BRA). The purpose of the developed model is to help contractors to secure suitable profitability by predicting the actual profit based on key variables. They may affect construction cost at bidding phase, ultimately which help contractors to secure high quality output. The model was tested empirically by application to a bidding dataset collected from a large South Korea contractor. BRA allows contractors to estimate more accurate actual profit by reflecting not only objective information but also subjective experiences and judgments. Consequently, the model can contribute to improvement of decision-making process for setting an optimum tender price.

• 산업경영시스템학회지
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• 제30권2호
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• pp.89-98
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• 2007

In this paper the economic value of weather forecasts is valuated for profit-oriented enterprise decision-making situations. Value is estimated in terms of monetary profits (or benefits) resulted from the forecast user's decision under the specific payoff structure, which is represented by a profit/loss ratio model combined with a decision function and a value score (VS). The forecast user determines a business-related decision based on the probabilistic forecast, the user's subjective reliability of the forecasts, and the payoff structure specific to the user's business environment. The VS curve for a meteorological forecast is specified by a function of the various profit/loss ratios, providing the scaled economic value relative to the value of a perfect forecast. The proposed valuation method based on the profit/loss ratio model and the VS is adapted for hypothetical sets of forecasts and verified for site-specific probability of precipitation forecast of 12 hour and 24 hour-lead time, which is generated from Korea meteorological administration (KMA). The application results show that forecast information with shorter lead time can provide the decision-makers with great benefits and there are ranges of profit/loss ratios in which high subjective reliability of the given forecast is preferred.

• Industrial Engineering and Management Systems
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• 제8권1호
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• pp.1-13
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• 2009

This paper presents a coordinated planning model of price-dependent demand for a single-manufacturer and a single-retailer. The demand is assumed to be normally distributed, with its mean being price dependent. The manufacturer and retailer coordinate with each other to jointly and simultaneously determine the retail selling price and the retailer order quantity to maximize the joint expected total profit. This model is then compared to a 'returns' policy model where manufacturer buys back unsold items from the retailers. It is shown that the optimal total profit is higher for coordinated planning model than that for the returns policy model, in which the retail price is set by the retailer. A compensation or profit sharing scheme is then suggested and it is shown that the coordinated model with profit sharing yields a 'win-win' situation. Numerical results are presented to illustrate the profit patterns for both linear and nonlinear demand functions. The coordinated planning model, in addition, has a lower optimal price than for a returns policy model, which would result in higher sales, thus expanding the markets for the whole supply chain.

• 한국건설관리학회논문집
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• 제16권4호
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• pp.50-59
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• 2015

한국 건설 기업들의 해외 진출이 기하급수적으로 늘어나고 있지만 프로젝트를 수행함에 있어 사업의 수익률은 대기업과 경험이 부족한 중소기업을 비교하였을 때 큰 차이가 나타난다(대기업 5건 중 1건 적자, 중소기업 3건 중 1건 적자 공사). 또한 경험이 부족한 중소, 중견 기업들, 특히 하도급 업체에게는 프로젝트 참여시 사업의 적절성을 판단하기란 어려우며 그에 따른 수익률 또한 예측하기 어렵다. 이에 본 연구는 중소/중견 업체, 특히 하도급 업체 관점에서 해외 건설공사 진출 시 수익률에 영향을 미치는 영향인자를 도출하기 위해 1965년부터 시행된 8,637건의 해외건설 준공데이터 및 문헌고찰 기반으로 수익률에 영향을 미치는 10개 인자를 도출 후 다중회귀분석을 통해 영향인자 간 가중치를 도출하였다. 이를 기반으로 사례기반 추론 기법을 이용하여 수익률 예측 모델을 개발하였으며, Type1 &Type2 error 분석을 통해 검증 결과 11%의 오차율을 보였다. 이러한 수익성 예측 모델을 활용하여 국내 건설 하도급업체들은 해외건설공사 진출 시 해당 프로젝트의 수익성 분포를 사전에 확인하여 양질의 프로젝트를 선별하고, 사업 참여의 의사결정에 중요한 참고자료가 될 것을 기대한다.

• 아태비즈니스연구
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• 제9권4호
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• pp.49-65
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• 2018

This paper illustrates the competition between the mobile pay and credit card systems by utilizing the theory of two-sided markets. Two firms, as platforms, maximize the profit collecting fees from consumers on one side and from retailers on the other side. Consumers pay to buy goods and services with mobile pay, credit card, or cash. The basic model is one that each platform maximizes its profit. We show that the fees for credit card holders and retailers are higher than the respective costs. The fee for retailers of the mobile payment is higher than its cost, while the buyer's fee may be higher or lower than its cost. Applied model is the one that employs the delegation game model. The total profit of the mobile pay system is composed of its profit and the weighted demand for the mobile pay. It is shown that buyers' fee under the applied model is lower than that under the basic model, resulting in an increase of the demand for the mobile pay. The fee for the retailers rises, albeit the sum of fees for the buyers and retailers falls. The profit for the mobile pay system is increased, while that for the credit card company stays the same.

• 대한전자공학회논문지TC
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• 제48권9호
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• pp.73-80
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• 2011

전통적으로 인터넷을 통한 컨테츠 서비스는 best-effort 방식으로 이루어져, 콘텐츠 제공자에게 뚜렷하고 분석적인 수익 모델을 제시하지 못했다. 반면 품질 보장형 서비스는 새로운 수익모델을 제시해 줄 것으로 기대되지만 보장된 품질에 대한 비용 및 수익과의 관계는 여전히 연구대상이다. 최근 이슈화되고 많은 연구가 진행되고 있는 QoE는 소비자의 만족도에 대한 의견을 측정할 수 있어, 품질 보장형 서비스의 제공에 따른 수익 모델을 정립하는데 이용될 수 있다. QoE는 소비자가 만족할 수 있는 서비스를 효과적으로 제공함과 동시에, 서비스 공급자에게 소비자의 만족도를 직접적으로 확인할 수 있도록 한다. 특히, 제공되는 서비스 질에 비용을 지불할 의사가 있는지 여부에 대한 피드백은 콘텐츠 사업자에게는 대단히 중요한 요소이다. 이에 본 논문에서는 보장되는 품질에 대하여 콘텐츠 제공자가 지불해야 되는 비용 및 QoE 와 QoE에 따른 수익에 대한 모델을 설계하고 이를 분석한다. 본 논문의 연구결과는 커져가는 네트워크를 통한 콘텐츠 서비스 사업 영역에서 사업 모델을 구상하고 추진하는데 유용하게 이용될 수 있을 것이다.