• The Journal of Fisheries Business Administration
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• v.29 no.2
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• pp.199-216
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• 1998

An economic appraisal of a proposed marine ranching project is analysed using capital budgeting model such as net present value(NPV) and internal rate of return( IRR) as well as sensitivity analysis and goal seeking model. Of the factors for economic appraisal, direct benefits are to be determined by estimated harvest, prices and costs incurred by catching fishes, and indirect benefits include the additional economic effect of recreational fishing. And judging the worth of these project options depends upon the choice of discount rate of which 8.5% is recommended here. On the basis of estimated production, prices and costs the project is expected to yield NPV=615 million won and IRR=8.8%, which is quite accepted for an economic feasibility, under the first scenario, and NPV= -127 million won and IRR=7.93%, which is rejected, under the second scenario. Sensitivity analysis has been performed by calculating the switching value and sensitivity indicator in respect of the main project parameters. The results suggest that the project NPV and IRR are especially sensitive to fishes(rock fish and other rock fish) prices and fixed costs. Finally goal seeking analysis is carried out in order to reach a desired level of performance like NPV=0 in respect of the amount of hatchery-reared juverniles, the prices and the discount rate.

• Industrial Engineering and Management Systems
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• v.8 no.4
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• pp.221-227
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• 2009

There are customer services jointly provided by two facilities so that each customer will complete the course made up of both facilities' sub-services. The two facilities are assumed invested respectively by an infrastructure owner and one subordinate facility owner, whose partnership is built on their capital investments. This paper presents a mathematical model of Stackelberg competition between the two facility owners to derive their optimal Nash equilibrium. In this study, each facility owner's profit is consisted of fixed revenue fractions of sold services, operating costs (including depreciation cost) and maintenance costs of her facility. The maintenance costs of one facility are incurred both by failures and deterioration due to usage. Moreover, for both facilities, failures are rectified immediately by minimal repairs and preventive maintenance is carried out at a fixed time epoch. Additional assumptions are also employed to develop the model such as customer arrivals are manipulated to follow a Poisson process, and each facility's lifetime is independently Weibull-distributed. The Stackelberg game proceeds as follows. At the first stage of decision making process, the infrastructure owner (acting as a leader) decides the allocation of revenue shares based on her self-interest. After observing the allocation of revenue shares, the subordinate facility owner determines her own optimal price of services. This paper investigates actions and reactions of the two partners in the system. Then analytical conditions are proposed to achieve a unique optimal Nash equilibrium. Finally, some suggestions for further research are discussed.

• Journal of Periodontal and Implant Science
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• v.41 no.5
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• pp.248-252
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• 2011

Purpose: The anterior region is a challenge for most clinicians to achieve optimal esthetics with dental implants. The provisional crown is a key factor in the success of obtaining pink esthetics around restorations with single implants, by soft tissue and inter-proximal papilla shaping. Provisional abutments bring additional costs and make the treatment more expensive. Since one of the aims of the clinician is to reduce costs and find more economic ways to raise patient satisfaction, this paper describes a practical method for chair-side fabrication of non-occlusal loaded provisional crowns used by the authors for several years successfully. Methods: Twenty two patients (9 males, 13 females; mean age, 36,72 years) with one missing anterior tooth were treated by using the presented method. Metal definitive abutments instead of provisional abutments were used and provisional crowns were fabricated on the definitive abutments for all of the patients. The marginal fit was finished on a laboratory analogue and temporarily cemented to the abutments. The marginal adaptation of the crowns was evaluated radiographically. Results: The patients were all satisfied with the final appearance and no complications occurred until the implants were loaded with permanent restorations. Conclusions: The use of the definitive abutments for provisional crowns instead of provisional abutments reduces the costs and the same results can be obtained.

• Journal of Korea Society of Digital Industry and Information Management
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• v.8 no.4
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• pp.53-62
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• 2012

U-City means the high-tech city that applied ubiquitous technology and information communication technology. U-City aims to intensify urban competitiveness and to improve the quality of residents' life through efficient management of the urban. Currently, 77 U-City projects is underway. The each project cost and scale estimate is not clear in the absence of the U-Service Standardization Model. So, many of the project are trouble about making a production the proper number of U-Service or the cost of project. The excessive service construction is reflected on the construction costs, which leads to the rise of sales price and passes onto the executor of a project as a burden of the project costs, and the problem of the delay of the change-over occurs due to supporting the operation costs for the operation of the constructed service and the demand for additional installation of facilities between a local autonomous entity and the executor of a project. In this paper, we suggested the U-Services Construction Standardization Methods and proposed the standardization services guideline of crime prevention services. U-City services in the future are able to maintain the consistency of the system through the utilization of the proposed standard model. As a result, the U-City project's pre-estimated cost and scale can be extracted.

• Journal of Navigation and Port Research
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• v.36 no.8
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• pp.673-681
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• 2012

As competition increases among ports, new marketing strategies and differentiated means in addition to the existing core services are needed to prevent existing container shipping companies from escaping and to attract new customers. The additional services and reward programs are investigated. How these variables affect relational commitment in terms of customer retention is examined. Customers of the container terminals are examined in terms of psychological behavior. This study presents the structural equation model that shows the connection among benefits, rewards, switching costs and relational commitment. The empirical analysis is done with the subject of the container terminal users and the implications are derived.

• Journal of Ocean Engineering and Technology
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• v.37 no.6
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• pp.266-272
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• 2023

The structure of a ship is completed by processing various steel plates and welding these plates. This butt welding of plates is defined as a seam in shipyards, and this study seeks to find a way to decrease costs by reducing the utilization of steel through effective seam arrangement. Seams were defined and classified according to purpose, and examples of "pieces" and "main plates" where seam creation had an economical saving effect were selected. For "pieces," the change in the weight of steel utilized depending on the presence or absence of a seam was calculated, and the resulting change in cost increase was presented. In the case of the "main plate," the quantity of seams does not change, but an example of cost variation due to the appropriate placement of seams is presented. Hence, a large difference was found in the costs of "pieces" depending on seam location. Thus, it was advantageous to create additional seams. For the "main plate," it was found that narrow-width and wide-width materials incur more costs. This study demonstrates that creating seams is economically advantageous but may not be preferred owing to the increased workload from a production perspective.

• 한국신재생에너지학회:학술대회논문집
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• 2011.11a
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• pp.43.2-43.2
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• 2011

Wind turbine pitch/yaw bearings are relatively big and have different operating conditions like very heavy load to support compared with widely used industrial bearings. Once pitch/yaw bearings failed, according to their special surroundings, serious damages like higher repair costs and additional costs by stopped electricity generation are occur. Therefore, pitch/yaw bearings must be designed to have enough strength and fatigue life under actual operating conditions. In this study, with finite element analysis, it was investigated that stress distribution between rolling elements and raceway and comparatively analyzed using widely used guideline (NREL DG03). Design parameters of wind turbine pitch/yaw bearings are also analyzed, and it could be used as reference for the large bearing design field.

• Journal of Korean Institute of Industrial Engineers
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• v.39 no.3
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• pp.183-191
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• 2013

We address the power generation mix problem that considers not only nuclear and fossil fuels such as oil, coal and LNG but also renewable energy technologies. Unlike nuclear or other generation technologies, the expansion plan of renewable energy is highly uncertain because of its dependency on the government policy and uncertainty associated with technology improvements. To address this issue, we conduct a delphi survey and forecast the capacity of renewable energy. We further propose a stochastic mixed integer programming model that determines an optimal capacity expansion and the amount of power generation using each generation technology. Using the proposed model, we test eight generation mix scenarios and particularly evaluate how much the expansion of renewable energy contributes to the total costs for power generation in Korea. The evaluation results show that the use of renewable energy incurs additional costs.

• Proceedings of the Korea Society for Simulation Conference
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• 2001.10a
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• pp.425-434
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• 2001

In this paper we introduce a general framework for the modeling, analysis and costing of logistic networks including supply chains (SCs). The employed modeling notation, the so-called Process Chain paradigm, is specifically developed for the application field of logistic networks which includes SCs. We view SCs as discrete event dynamic systems (DEDS) and apply corresponding simulative techniques in order to derive performance measures of the Process Chain model under investigation. For this purpose Process Chain models are automatically transformed into the input language of the simulation tool HIT. Subsequently, a cost accounting model using the performance measures is applied to obtain costs which are actually subject of interest. The usefulness and applicability of the approach is illustrated by a typical supply chain example. We investigate the impact of an additional SC channel between a manufacturer and web-consumers on the overall supply chain costs.

• Korean Journal of Construction Engineering and Management
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• v.18 no.2
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• pp.30-37
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• 2017

In Korea, additional indirect costs generated from the time period extension of public construction projects have been studied. Practical claims against such costs are increasing. There are no clear criteria for calculating the delay cost caused by the extension, and thus calculation methods differ across entities. Logical valid calculation methods have also not been researched. Further, there are no Korean studies on the additional indirect cost caused by a suspension in a public construction project on a long-term continuing contract. The purpose of this research is to propose a method of calculating the indirect cost incurred by construction time extension that reflects the characteristics of Korean public construction projects. The cost patterns generated during construction periods were analyzed, and then the current criteria of calculating the indirect costs caused by the extension were examined. Following this, actual conditions and practices in the field were surveyed and the current calculation method was applied to a model case to compare the actual cost and that determined from the current calculation method. Issues with the current method were identified by this comparison. Based on this, this research proposes a method of calculating the total actual cost caused by a suspension in a public construction project that is appropriate for calculating the additional indirect cost generated by a suspension in a public construction project on a long-term continuing contract.