• Korean Journal of Construction Engineering and Management
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• v.7 no.1 s.29
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• pp.100-109
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• 2006

Feasibility analysis is a crucial key to success or failure of housing project. Existing feasibility analysis in construction company is based on intuitive approach rather than systematic approach. Usually feasibility analysis in a narrow sense is a financial analysis of project. Feasibility analysis focused in this study is confined to the matter of finance. So, the purpose of this study is to analyze the sensitivity of financial analysis item about profit rate by means of monte carlo simulation and this will improve accuracy of feasibility analysis and decision making.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• 2006.11a
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• pp.462-466
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• 2006

The startingpoint of successful buildingproduction process is the feasibility study of the project. If the feasibility study is poor which is affected in direct production processes such as designing and engineering, it incurs a great unrecoverable loss to the company. The governmentinstitutionalized the feasibility study for projects that budgets over 50billion won in an effort to ensure competitiveness of the construction industry after IMF; however, the system and effort to created systematic studies or guidance preparation for private construction development projects are lacking in great deal. Therefore, the objective of this study is to establish the analysis factors of feasibility study and evaluation standard by systematic analysis in consideration of the changes of various variables and mutual relationships using system dynamics technique for office buildings among commercial buildings.

• Korean Journal of Construction Engineering and Management
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• v.6 no.5 s.27
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• pp.110-118
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• 2005

This paper examines the method of evaluation for feasibility study factors on housing development projects which can assist project managers to asses potential sources of risk. The aim is to reduce uncertainty on the project objectives. The major initial goals for a feasibility analysis are to define a limited set of key related factors which apply to housing development project according to development and market environment, condition of project planning and economics. Thus, in order to construct types of factors related with the feasibility, the research executes Delphi Method subjected personnel in the task to explore housing development projects. Such exploration provide the information for Importance Index, Extra Weight and the Mean of Extra Weight that is used for constituting confines of factors related with a feasibility analysis.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• autumn
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• pp.267-272
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• 2001

The purpose of this study is to suggest the process and calculating method of feasibility study for the reconstruction apartment projects, and the results of this study is fundamental knowledge for the exact and exquisite plan. The process of this study are as following : 1. Research for the process and peculiar character of reconstruction project. 2. Investigate input and output item and suggest the calculating methods that are generally accepted. 3. Suggest the general process on feasibility study for reconstruction apartment project.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• autumn
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• pp.460-464
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• 2003

A reconstrucion project is very complex and requires technical knowledges and experiences, however due to not having any related knowledge consortium usually does not have any related knowledge. So in this study, we have suggested a systematic procedure to execute a reconstruction project focused on the profitability analysis. a model is developed to identify and calculate all relevant cost and revenue to the project using the IDEF0 methodology.

• Korean Journal of Construction Engineering and Management
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• v.8 no.3
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• pp.76-86
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• 2007

Construction development work invents profit as those finalize object, and a make or break success of project depends on correct analysis and forecast business feasibility at project early. Business feasibility study would be decision-making under precarious situation because is connoting uncertainty that is future. estimate at present visual point essentially. Under uncertainty, a decision-making method is based on probability theory of statistics, but business feasibility study had applied with not feasibility study by probabilistic decision method but it by determinism derision method so far. Therefore in this study doing decision-making by a probability theory method for successful project at early business feasibility study, it present a probabilistic study method that use simulation that can supply a little more correct and reliable data to decision-maker As result, a probabilistic study method is more suitable than deterministic study method as technique for a financial feasibility study of construction development work. Making good use of this probabilistic study method at important business or careful decision-making, because efficient Judgment that is based accuracy and authoritativeness may become available.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• 2008.11a
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• pp.241-246
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• 2008

With construction industry recession, many construction companies are increasingly conducting the development projects by themselves. However, housing projects requested by developers still stand large portion. Although many studies on feasibility analysis were released, they mainly focused on economic feasibility and lacked research on factors and criterions of overall project. Also, because previous studies overly break downed factors related to project, they rarely used in practice. Therefore, this study developed the feasibility analysis model of housing development projects to help main contractors to easily and effectively decide if it is feasible enough to promote the projects requested by developers, and verified the reliability of the model. In this study, thirty one driving factors were identified under seven different categories and the criterion of each factor was also developed. The survey on important index of each factor found "salability", "economic feasibility", "site location" and "method of raising fund" significant. 3 projects were tested by the model and its results showed resonable reliability.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• 2004.11a
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• pp.67-72
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• 2004

최근 건설산업은 공공 및 민간부문의 발주물량 감소가 가시화되고 있으며, 최저가입제에 의한 사업수익율 하락 추세는 향후 건설업 붕괴위기, 건설산업 사양산업화라는 비관적 견해가 떠돌 만큼 건설업 전반이 심각한 위기를 맞고 있다. 정부는 재정 부족으로 인하여 SOC사업의 축소조정이 불가피하지만 국가경제의 악영향 해소와 신속한 경쟁력 회복을 위해 SOC사업에 대한 투자확대와 푹소범위 최소화의 필요성을 인식하고 있으며, 이에 재정부족과 SOC 확충이라는 두가지 문제를 해격하기 위해 민간투자사업이 활성화되고 있는 실정이다. 현재, 정부에 의해 주도되고 있는 민간투자사업의 제도 및 법률의 개정방향은 피간 건설업체가 주도하던 민자사업에 대하여 연기금 및 금융권으로의 전환을 예고하고 있으나, 현실적으로 금융권이 자체적으로 SOC 사업에 대한 투자를 위한 사업 타당성 분석이 어려운 실정이므로 이에 대한 대안으로 SOC 민간투자사업에 대한 노하우를 축적한 건설업체의 SOC 민간투자사업 분야에 아웃소싱 개닐념 도입, 특화하여 효율성을 극대화 시킴으로써 사업의 안정성 확보와 동시에 투자 수익 실현을 통하여 SOC 민간투자 활성화에 견인차 역학을 할 수 있는 전문운영회사의 도입에 대하여 논하고자 한다.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• autumn
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• pp.347-352
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• 2001

Midtown redevelopment project is intended for restoration of city's declining function and promoting the utilization of land, but several factors such as participants of different nature in the project, different expectation level from them, high land value accompanied by geographical location as a city and the demand for high density development, nature of business that requires long duration to complete and vast amount of fund contribute to complication of feasibility study. Due to these characteristics of midtown redevelopment project, consideration of various factors involved with it and reliable analysis are required but suggested complication of feasibility study is causing halt in project, preventing from launching it and delaying it. So, this study was undertaken to be a help to feasibility study of midtown redevelopment project by suggesting main elements that need to be dealt with analysing questionnaire survey result attained from related expert in this area and arranging total 45 factors essential to feasibility study for midtown redevelopment project that can be classified into 5 main category such as economic/financial factors, legal/institutional factors, market related factors, technical factors and conflict related factors through documental investigation, case study and interview with specialist concerned.

• Korean Journal of Construction Engineering and Management
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• v.5 no.1 s.17
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• pp.71-79
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• 2004

In the stage of feasibility study of urban rehabilitation projects, the precise forecast of physical and environmental changes has great influence on the further transaction of the projects. However, various important decision makings are made by the experience and intuition of the person-in-charge in practice without the process and method for systematic and quantitative analysis. In spite of various qualitative influent factors on the projects, the feasibility studies are made by the result of economic analysis only, which often lead the projects to the crucial deficit. The main reasons of such a mal-functional transaction are due to the absence of the reasonal procedure of feasibility study and decision making reflecting the characteristics of urban rehabilitation projects. The objective of this paper is to propose feasibility study processes and decision making methods in relation to various influent factors on urban rehabilitation projects in the initial stage. The goal and process of every analysis stage and the pertinent factors and decision makings are analyzed and proposed through the survey of current research, a case study, interview with the professionals. The processes and methods are well applied to improve current problems of feasibility study of urban rehabilitation projects. In addition, the establishment of the analysis goal at three principal stage and a series of reasonable decision makings with pertinent factors to each stage will lead the project to more successful result than ever.