Unlike housing development project that can ensure profit by selling built units, a hotel development depends on long-term business operation to be profitable due to characteristics of service industry. The expected cash flow has substantial uncertainty depending on room occupancy rate and room charge. Thus, even after construction is complete, business risk tends to rise. It is necessary to ensure strategic response to uncertainty in future value of a hotel. The objective of the study is to explore strategic measures to deal with risk and uncertain future value in hotel development project by adopting abandonment option, which is a type of real options. The case in analysis had sevenyears of project period: Two years for construction, and five years for operation; a plan was made to sell the hotel after five years' of operation. For the research purpose, option value ofrecoverable investment amount was estimated, and value of abandonment option was KRW 124.921 billion. When abandonment option is applied, the project value was deemed to be KRW 120.592 billion. Generally, the amount of loss is enormous when a real estate project like a hotel development fails, and therefore, application of option is expected to be an effective measure to leverage uncertainty of a project.

Uncertainty in housing price fluctuation has great impact on the overall economy due to importance of housing market as both place of residence and investment target. Therefore, estimating housing market condition is a highly important task in terms of setting national policy. Primary indicator of the housing market is a ratio between rent and transaction price of housing. The research explores dynamic relationships between Rent-Transaction price ratio, housing transaction price and jeonse rental price, using Vector Autoregressive Model, in order to demonstrate significance of shifting rent-transaction price that is subject to changes in housing transaction and housing rental market. The research applied housing transaction price index and housing rental price index as an indicator to measure transaction and rental price of housing. The price index and data for price ratio was derived from statistical data of the Kookmin Bank. The time-series data contains monthly data ranging between January 1999 and November 2009; the data was log transformed to convert to level variable. The analysis result suggests that the rising ratio between rent-transaction price of housing should be interpreted as a precursor for rise of housing transaction price, rather than judging as a mere indicator of a current trend.

Students in the field of architectural design, form and design of the new learning process, and in the design of a very premiere. Perhaps one way of theoretical training and strict discipline academy will probably already be familiar with. In addition to academic activities rather passive liberal arts students, learning basic academic skills than students, vocational students lag is most. However, these have been popular with young sensibility popular consensus here and he has the potential to move actively. This is very sporadic but does not control the many, it's even the potential fragmentation of consciousness, because they themselves do not know a lot of parts. Therefore, the power embodied in the design process and disclose the outside, it fits in the design field to produce results. And designed to improve learning ability and motivation to want to promote. Accordingly, this research through the following four methods to test the methodology on the basis of the results and try to find solutions to problems. (1) Outside the student's latent ability to express emotion should be. (2) Students' interests are actively utilized in the design classes. (3) Analysis of individual interests and ideas, and how to take advantage of the design process that is induced. (4) The final work should express your own personality into the design. Through this, students' academic motivation and a positive vision of the direction of design is proposed.

This study is to suggest a strategy and trend of products development by major construction companies to form a trend and to set the trend in housing market through investigation about brand image campaign for TV ad, individual design items, result of products development and special plans. It is the strategy for products development of construction companies surveyed to be divided into five kinds. First, the change from in the unit to outside. Second, centralization of design powers about products development through submit and the wining of a prize in the domestic & foreign design fair to publicize a excellent quality in a roundabout way. Third, reinforcement of service for support the habitability and design manual for secure uniform quality. Forth, investment in the environment-friendly housing and new recycling energy. Fifth, reinforcement of organizational power for improving production capability.

In this study, there should be a debation on the methods, such as considerations on the CM organization of skyscraper project for the client's side, process and impact factors need to be taken, and suggesting the evaluation and selection criteria, which may lead strategic decision-making by the client. Owner of the CM organizational decision to establish a variety of alternatives, the range of CM performance characteristics of the project, considering the weight and also by evaluating the effectiveness of appropriate alternative is selected. Domestic skyscraper project, decisions about the CM organization for 'S Tower' prior to the proposed decision and the criteria was applied. As a result, domestic CM/PM companies and overseas CM/PM companies were doing business as J/V, Supervision of the integration work order types showed the highest performance levels. when they ordered CM services. The project cost reduced and organizational improvements, the results of applying alternative way, improve on-site construction plans, sharing key technologies, process improvement plan could benefit from such expectations.

The production process of construction industry is different from thing of the general manufacturing, likewise various participants make temporary teamwork for success of the project through sharing of information. But the each role of participants is individually changed to step in construction process stage and moreover it has complicated, entangled interests. The Construction Management was inducted for the effective management and operation of construction project. The Key of the Construction Management success depends on the cooperative relationship relation to major participants. The domestic construction system is difficult with many trial and errors for the frequent plan change. As the building are more bigger and complicated, Building Information Modeling is demanded design and maintenance. This evaluation was done by the trust on the system as well as Construction Management. And then it applies the BIM it analyzes the example of construcrion project.