• Title/Summary/Keyword: BTL project

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Effective Models for Connecting BTL and Project Finance (BTL 사업과 프로젝트 금융의 효과적 결합 방안)

  • Park, Won-Seok
    • Journal of the Economic Geographical Society of Korea
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    • v.11 no.2
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    • pp.233-250
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    • 2008
  • This paper aims to analyze the characteristics of BTL, and to propose the effective models connecting BTL and project finance, through the analysis of current state and case study of BTL. The main results of this study are as follows. Firstly, BTL business have been increasing fast, and most of projects are middle size projects below 100 billion Won. Nextly, key suggestions for improving BTL business model are analyzed, which are, first, risk allocation between public and private interests, second, improvement of method for selecting private investment consortium, and third, alleviation of long-term burden of local finance. Finally, effective models for connecting BTL and project finance, which are, first, model for using asset backed securities, second, model for dividing project corporations into construction corporation and operation corporation, and third, model for risk allocation between public and private interests.

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Development of CM Model for BTL Projects in a Public Educational Facilities (공공교육시설 BTL사업의 CM적용모델 개발)

  • Shin, Nam-Kyoung;Woo, Kwang-Min;Lee, Hak-Ki
    • Proceedings of the Korean Institute Of Construction Engineering and Management
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    • 2006.11a
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    • pp.338-341
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    • 2006
  • After the revision of Private Investment Law in January 2005, BTL is introduced to expand the social infrastructures as a major business procedure. Especially, the size of the public educational infrastructure ordered by each city education office is increased by 45% compared to last year, so it is major in BTL Project. However, in the process of practicing BTL Project by now, there are a lot of problems specially in the public educational infrastructure. As a result, this study gives the solutions in the process of BTL Project, the CM models to support the Education Office${\square}{\square}$job and the suggestions for the working scope of the participating construction companies.

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A Study on Model Establishment of the Validity Evaluation for BTL Project Expenses Using an Analytic Hierarchy Process (계층분석법(AHP)을 이용한 BTL사업비 타당성 평가모형정립에 관한 연구)

  • Lee, Chun-Kyong;Jung, Young-Han;Park, Tae-Keun
    • Proceedings of the Korean Institute Of Construction Engineering and Management
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    • 2008.11a
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    • pp.905-908
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    • 2008
  • The BTL project, 4 years since its operation, has benchmarked the PFI Project in Japan and has been introduced. Given the evaluation step to select a preferred bidder, in a technological factor, the basic plans are corrected and complemented, whereas in a price factor, the low price bidding system is being enforced. There is concern that how to select preferred bidders and how to operate project costs during operation and management period may be problematic. Thus, in this study, using the Analytic Hierarchy Process, the method of deciding the pribrity to select preferred bidders in an early stage of the project and the evaluation model to evaluate the validity of BTL project expenses in process of project enforcement are established. Targeting the group. composed of experts who have experiences in the BTL project. Then, the levelling of evaluation factors and grouping have been carried out as following: LCC analysis and disbursement for government including two more detailed factors.

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A Study on Development of Maintenance Cost Estimation System for BTL Project of Education Facilities Using Optimization Methodology (최적화기법을 활용한 교육시설물 BTL 사업 운영관리비용 비용예측 시스템 개발 기초연구)

  • Cho, Chang-Yeon;Son, Jae-Ho;Kim, Jea-On
    • Korean Journal of Construction Engineering and Management
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    • v.10 no.1
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    • pp.45-57
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    • 2009
  • BTL (Build-Transfer-Lease) Project for Education Facilities are contracted as a package which consists of several education facilities. The general maintenance period of BTL project for education facilities is 20 years. Thus, total cost variation largely depends on the accuracy of the maintenance cost forecasting in the early stage in the life cycle of the BTL Project. This research develops a cost forecasting system using complete linkage algorithm and branch & bound algorithm to help in finding optimal bundling combination. This system helps owner's decision-making to estimate the total project cost with various constraints changing. The result of this research suggests more reasonable and effective forecasting model for the maintenance facilities package in the BTL project.

On Analysis of Undertaking Accomplishment Process for the BTL Project (BTL사업의 사업수행 절차 분석에 관한 연구)

  • Chun, Jin-Ku;Lim, Jong-Ah;Park, Young-Dae
    • Proceedings of the Korean Institute Of Construction Engineering and Management
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    • 2007.11a
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    • pp.917-920
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    • 2007
  • Private companies will get back their investment by leasing facilities to the government, Since act on private participation in infrastructure were changed in January 2005, BTL(Build Transfer Lease) project of introduced in the domestic construction market for the purpose of providing public facilities with the public. BTL projects is for with approximately project life cycle form plan to maintenance the success of the project totally depends on the capability and role of concessionaire. Accordingly, this study is aimed to improve in order to proceed with BTL project efficiently, a clear standard for the item of evaluation was presented.

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Value Management of Private Finance Initiative Projects (민간투자사업을 위한 VE 적용방안)

  • Lim, Jong-Kwon;Kim, Seoung-Il
    • Proceedings of the Korean Institute Of Construction Engineering and Management
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    • 2006.11a
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    • pp.123-130
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    • 2006
  • Recently, Korean government promotes BTL(Build-Transfer-Lease) for their public construction project to apply private sector's experience and finance initiatives. Many of public buildings and civil infrastructure projects were planned to be delivered by BTL and it helps to continue public projects under tight budget conditions. Since the characteristics of BTL projects, creative ideas for the project function, performance and its LCC (Life Cycle Cost) become more important than usual public work project. This paper introduces the systematic "VE job Plan" application techniques for BTL project and shows the process. This study shows the application of "VE job Plan" for BTL project to help decision making and value improvement. Also, Project cost was estimated by LCC (Life Cycle Cost) analysis. Technical "FAST diagram"was developed and used to find major functions of the project. So, it helps to improve performance of functions and make creative ideas. FAST diagram also help to find relationships between functions and cost. A case study (Daegu Art Gallery BTL Project) was conducted using proposed "VE job Plan. Study demonstrates how value management helps save money and increase functional performance. Researcher found that project can save cost and improve performance of functions significantly by using appropriate VE analysis process at appropriate time.

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An overall valuation about propriety of school facilities BTL through AHP (AHP를 이용한 학교시설 민간투자사업(BTL)의 타당성 종합평가)

  • Ha, Ho-Sung
    • The Journal of Sustainable Design and Educational Environment Research
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    • v.5 no.1
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    • pp.22-39
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    • 2006
  • The purpose of this study is an overall valuation about propriety study of school facilities BTL(Build-Transfer-Lease) by means of AHP(Analytic Hierarchy Process). The search point includes these questions. Is BTL of school facilities a reasonable project for school, or is the former government financial project on the position of comparative superiority? And, is a partial BTL possible as an alternative plan? The result of this study shows that preference rate about BTL is 39%, that of former government financial project is 32%, and that of partial BTL is 29%.

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A Study on the Outcome Evaluation Criteria of Executing Negotiation on BTL project -Focused on Cultural Facilities- (BTL사업 협상수행 성과평가 지표에 관한 연구 - 문화시설을 대상으로 -)

  • Lee, Hyun-Chul;Lee, Jae-Hong;GO, Seong-Seok
    • Korean Journal of Construction Engineering and Management
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    • v.10 no.4
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    • pp.3-13
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    • 2009
  • When promoting BTL(Build Transfer Lease; below BTL) project, negotiation is a stage of examining observation and reflection of RFP(Request for Proposal below RFP) in terms with facilities, operating and financing. It keeps an important position in whole process. However, there is no consistent guideline or model which helps evaluating the result of negotiation. It is difficult to apprise the quantitative outcome after executing negotiation. Thus, this study presented the Value Engineering -based process and model of estimating the outcome of negotiation for the purpose of estimating and verifying the result of negotiation objectively, Evaluating factors of negotiation were classified into 6 fields, 38 divisions and 135 items, focused on cultural facilities on BTL project. Weight of every factor was estimated, and quantitative checklist was established. This study presented the model which could measure the outcome of negotiation. This result would be a critical checklist before negotiation on BTL project, an index of feedback during negotiation, and also a standard of estimating the outcome after negotiation.

A Study on Model Establishment of the Validity Evaluation for BTL Project Expenses Using an Analytic Hierarchy Process (계층분석법(AHP)을 이용한 BTT사업비 타당성 평가모형 정립에 관한 연구)

  • Jung, Young-Han
    • Journal of the Korea Institute of Building Construction
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    • v.8 no.6
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    • pp.155-160
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    • 2008
  • The BTL project, 4 years since its operation. has benchmarked the PFI Project in Japan and has been introduced. Given the evaluation step to select a preferred bidder, in a technological factor, the basic plans are corrected and complemented, whereas in a price factor, the low price bidding system is being enforced. There is concern that how to select preferred bidders and how to operate project costs during operation and management period may be problematic. Thus, in this study, using the Analytic Hierarchy Process, the method of deciding the priority to select preferred bidders in an early stage of the project and the evaluation model to evaluate the validity of BTL project expenses in process of project enforcement are established. Targeting the group composed of experts who have experiences in the BTL project. Then, the levelling of evaluation factors and grouping have been carried out as following : LCC analysis and disbursement for government including two more detailed factors.

A Study on development of Assesment System for BTL Project;Prediction of Reasonable Construction and Maintenance Cost in Education Facilities. (합리적 교육시설물 유지보수 및 공사비 예측을 위한 BTL 적격성 평가 시스템 개발에 관한 연구)

  • Son, Jae-Ho;Kim, Jae-On
    • Proceedings of the Korean Institute Of Construction Engineering and Management
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    • 2006.11a
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    • pp.111-116
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    • 2006
  • The objective of this research is to develop an assesment system for BTL Project. A new method for the prediction of construction and maintenance cost in the educational facilities has been considered and under development by the authors. This paper explains the current BTL assesment method used by most local district office of education and lists its potential problems. Main conceptual modules in the new Assesment System are shown in this paper. Also, viable results of each module are discussed in this paper.

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