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http://dx.doi.org/10.5345/JKIC.2011.06.3.221

Development of a System Dynamics Model for Cost Analysis of Housing Development Projects  

Kim, Keun-Woo (Department of Architectural Engineering, Graduate School Gyeongsang National University)
Yun, Seok-Heon (Department of Architectural Engineering, Engineering Research Institute, Gyeongsang National University)
Publication Information
Journal of the Korea Institute of Building Construction / v.11, no.3, 2011 , pp. 221-228 More about this Journal
Abstract
This study is on the development of a System Dynamics Model for business feasibility analysis of an apartment house development project. In this study, we analyzed other apartment development projects and research projects, and identified the cash flow items, which consist of revenue and expenditure items. In addition, we made efforts to find the influence relationship among these using the system thinking method and developed a system dynamics model. In order to test the model, a case study was conducted in which it was applied to an apartment development project. Vensim, a System Dynamics Modeling and simulation software package was used to analyze and test the model. The model suggested in this study can help a developer to make decisions on project financing at the initial stage of an apartment house development project.
Keywords
system dynamics; apartment; development projects;
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