• Korean Journal of Construction Engineering and Management
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• v.18 no.4
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• pp.3-16
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• 2017

Forecasting cash flow is very important but is difficult and complicated to analysis in high-rise development projects. And An expected value which was forecasted on the early stage is likely to fluctuate due to uncertainties around such complicated huge project to consider the probable uncertainty. There are not objectified method which are able to cope with uncertainty of project, and feasibility study based on selected financial analysis does not include liquidity of cash flow. Through such a stochastic method, developer can cope with cash flow fluctuation and set up a financial plan. Also this study is meaningful for laying the foundation for high-rise development project and feasibility study as well as the suitability and accuracy of feasibility study. Analysis showed that NPV and IRR include residential apartments shows surplus revenue as return of apartments offset deficit of hotel and office. Factors influencing the project feasibility for high-rise development project are sales account of $1^{st}$ year and annual vacancy rate of office.

• Journal of Korea Technology Innovation Society
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• v.14 no.1
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• pp.40-59
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• 2011

Korean government is driving the large telescope development project to improve the level of astronomical research. The objective of this study is to assess the economic effects of Korean large telescope project by employing a contingent valuation method (CVM) to provide policy-makers with useful and responsible information. According to estimating results, annually willingness to pay per household is 1,416 Korean Won. Consequently, the annual benefit of large telescope project is about 240.8 billion Korean won. This result contributes to provide policy makers with the quantitative information and for economic feasibility.

• Journal of Korean Library and Information Science Society
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• v.35 no.4
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• pp.491-516
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• 2004

The purpose of this study is to analyze the approach of economic feasibility and political and technical feasibility in the construction of a new public library. The results show that the cost-benefit analysis using in economic feasibility have the problems of benefit counting and discount rate, and also political and technical feasibility have the problems of wrong use in the rationalization of construction project. The result of this study is expected to be useful in preparing the feasibility study.

• Land and Housing Review
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• v.6 no.3
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• pp.117-127
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• 2015

Korean government has launched a new public rental housing policy for younger generation suffering from instable housing conditions in CBD area. This paper is to analyze the financial feasibility of urban public rental housing projects, based on its cash flows. Urban rental housing projects should find out the way to reduce costs and to secure cheap land, because of the high land price in CBD area and complex relationship of legal rights. Project types are categorized by the land acquisition method and district characteristics. For 10 sample projects, financial feasibility was analyzed. Cash flows were calculated on the design plan and 16 scenarios were made by combining 4 important variables. The variables are increase rate of land price, increase rate of monthly rents, ratio of public and market rents, and the interest rate of National Housing Fund. The findings are as follows. Government land rent-type can reduce initial costs because it is not necessary to buy land. However, total NPV is lowered at the time of liquidation due to the land return. Private land acquisition-type require more initial costs. But the NPV at liquidation time increases with land disposal. To improve financial feasibility, acquisition-type should be preferred in high land-price area and rent-type should be preferred in low land-price area. Among influencing variables, the rate of increase in land price and the ratio of public and market rents turned out to be the most important. Although the ratio of public and market rents can be controllable, high ratio will cause the burden of tenants. Therefore, interest rate adjustment of National Housing Fund is more desirable.

• Journal of Energy Engineering
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• v.21 no.2
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• pp.179-186
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• 2012

A climate change by increase of greenhouse gas is coming to the front by a large issue, and oxy-combustion demonstration project is coming to the attention to one plans for the reduction of carbon dioxide in power generation sector that used a fossil energy in points of time. This paper estimates benefit of electric generation, benefit of greenhouse gas reduction, benefit of environmental pollutant decreasing and domestic and foreign market value-added benefit caused by oxy-combustion demonstration project. Furthermore, this paper attempts to cost-benefit analysis, using NPV, B/C ratio, IRR techniques for oxy-combustion demonstration project. The results indicate that NPV is 681,620million KRW, B/C ratio 1.69 and IRR 21.4%. Accordingly, oxy-combustion demonstration project ensures economic feasibility that the three indicators have exceeded 0, 1.0 and 5.5%. Moreover, uses of the result is useful for the reduction of carbon dioxide in thermal power generation sector of policy decision.

• Proceedings of the KAIS Fall Conference
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• 2010.11b
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• pp.568-571
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• 2010

본 연구의 목적은 감귤 기능성물질의 산업화 타당성 분석을 하는 것이다. 구체적인 경제성 분석방법은 순현가와 투자수익률(내부수익률)을 이용한 기본적인 경제성분석과 손익분기점분석, 그리고 주요변수들의 변화에 따른 순현가의 변화를 파악하기위한 민감도분석이고, 정책적 분석은 감귤기능성 물질산업화가 감귤산업 전체에 미치는 파급효과를 계량적, 정성적으로 분석하였다. 감귤 기능성물질의 산업화 타당성 분석결과에 따르면, 미숙과 감귤 2만톤과, 감귤박 2만톤을 처리한다고 가정했을 경우 감귤산업에 미치는 경제적 효과는 연간 5백억원으로 나타났다. 이러한 막대한 경제적 효과는 본 사업에 투자되는 전체비용 약 1백억원, 10년 사업기간을 가정하면 연간 10억원의 설비투자비로 그의 50배의 경제적 파급효과를 나타날 수 있기 때문에 감귤기능성물질의 산업화효과는 매우 큰 것으로 나타났다.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• 2007.11a
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• pp.431-435
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• 2007

Green Building Certification Program, which was first introduced to residential buildings in Korea in 2002, has been put on track. This program is expected to bring about the effect in the economic viewpoint that was based on a life-cycle-cost analysis, not to mention the environmental viewpoint. However, given the fact that the existing model for feasibility analysis focusing on early investment cost can hardly be applicable to the green buildings because of lacking the life-cycle-cost reduction factor, it remains still difficult to conduct an objective evaluation. The study thus was intended to identify the factors that should be additionally considered in conducting the feasibility study to be implemented through the analysis of the certification items of green buildings as a preliminary study in structuring the evaluation model for feasibility analysis of green buildings.

• Proceedings of the Korea Contents Association Conference
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• 2008.05a
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• pp.324-327
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• 2008

This research seeks to investigate the economic feasibility of a small size aircraft development and BASA certification enterprise. To achieve the objective, this research investigates cost which requires for proceeding a small size aircraft development and BASA certification enterprise. This research also investigates the economic effects and economic benefits acquired from exporting civil aircraft. Costs and benefits are assumed using cash flow by types of airplanes. On the basis of the cash flow, this research calculates B/C ratio, NPV, IRR for investigating the economic feasibility. The result shows that there are economic feasibility for both very light jet and piston aircraft. Between these two aircraft types, more economic feasibility exist for very light jet than piston aircraft.

• Proceedings of the KIEE Conference
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• 2011.07a
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• pp.1370-1371
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• 2011

2011년 RPS(신재생에너지 공급의무화제도)의 본격적인 시행을 앞두고 국내 신재생에너지 산업의 많은 변화가 예상된다. 사업을 추진함에 있어 재무적 타당성을 분석하여 사업을 결정하는 것은 가장 기본적인 절차이다. 이러한 과정에서 비용과 편익에 대한 분석이 이루어지며 이에 대한 신뢰도의 정도에 따라 사업의 성공여부가 좌우된다고 할 수 있다. 통상 재무적 타당성분석은 유형적인 요소를 분석하여 사업성을 결정하지만, 무형적인 비용과 편익도 간과할 수는 없다. 유형적인 요소는 명확한 재무적인 수치로 나타나지만 무형적인 요소를 재무적인 수치로 평가하는 것은 쉬운 일 아니다. 무형적인 비용과 편익에 대한 정형화된 산정모델이 없고, 주관적인 의견에 의존하는 경향이 크므로, 해당 업체의 환경과 특성에 따라 평가방법 및 평가액이 상이하며 평가에 대한 신뢰도 또한 전문가에 따라 차이가 발생한다. 하지만, 이러한 무형적인 요소에 대한 평가는 사업추진 여부에 대해 중요한 변수로 작용할 수 있다. 실례로, 2002 월드컵 유치에 대한 무형효과에 대한 평가액은 가지각색이지만, 월드컵 유치로 인한 국가의 인지도 상승 및 경제적 효과는 누구도 부인하지 못할 것이다. 본 연구에서는 무형효과 산출에 대한 대표적인 사업의 사례 조사를 통해 무형효과 평가모델에 대한 기본 방식을 연구함으로써, 신재생에너지 개발사업에 적용할 수 있는 무형효과 산출 모델의 기본안을 제시하고자 한다.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.2 no.2
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• pp.1-22
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• 2007

This paper is targeting on developing pre-test Methodology for start-up as tuning successful business modelling with their implementation. Start-up is asked to a complete preparation and analysis for business to enhance the success possibility. In this stream, Start-up should test the validity of their business model before starting a business. This paper deliver alternatives to meet this requirement. Overall, this paper suggest two different approaches. First, by literature review, this paper prove the importance of BM in success factor analysis of high-tech start-up. Second, This paper prove BMO Model as the best practicing model to assess the validity of BM. Additionally, this paper, BMO will be utilized to bring significant implications to sort out enhancing strategies of BM validity.