• Title/Summary/Keyword: Benefit-Cost model

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Research on Facility Layout of Prefabricated Building Construction Site

  • Yang, Zhehui;Lu, Ying;Zhang, Xing;Sun, Mingkang;Shi, Yufeng
    • International conference on construction engineering and project management
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    • 2017.10a
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    • pp.42-51
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    • 2017
  • Due to the high degree of mechanization and the good environmental benefits, the prefabricated buildings are being promoted in China. The construction site layout of the prefabricated buildings has important influence on its safety benefit. However, few scholars have studied the safety problem on it. Firstly, in order to give a follow-up study foreshadowing the characteristics of prefabricated buildings are analyzed, the research assumptions are given and three types of safety buffers are established. And then a mult-objective model for the prefabricated buildings site layout is presented: taking into account the limits of noise, the coverage of the tower crane and the possibility of exceeding boundaries and overlapping, the constraints are and designed established respectively; Based on the improved System Layout Planning (SLP) method, the efficiency\cost\safety interaction matrices among the facilities are also founded for objective function. For the sake of convenience, a hypothetical facility layout case of the prefabricated building is used, the optimal solution of that is obtained in MATLAB with particle swarm algorithm (PSO), which proves the effectiveness of the model presented in this paper.

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Improvement of Preliminary Feasibility Study Cost-Benefit Analysis in the Water Resources Field (수자원분야 예비타당성조사 비용편익분석의 개선방안)

  • Seong, Yeonjeong;Hwang, Ingyu;Jung, Younghun
    • Proceedings of the Korea Water Resources Association Conference
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    • 2022.05a
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    • pp.502-502
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    • 2022
  • 최근 기후변화와 기상이변으로 예측하지 못한 게릴라성의 국지성호우로 인해서 과거 장마와 같은 피해가 아닌 변화된 강우패턴으로 막대한 피해가 나타나고 있다. 또한, 이러한 게릴라성 호우는 예측 또한 어려운 경향을 나타낸다. 이러한 피해를 방지하기 위해 단기유출 예측을 위해 사용되는 다양한 모형들 가운데 GRM(Grid based Rainfall-runoff Model)을 사용하였으며, GRM모델은 단기유출해석에 사용되며 국내에서 개발된 물리적 기반 모형이다. 본 연구에서는 한강의 하류인 청미천 유역을 대상으로 강우-유출 분석을 진행하였으며, 환경부의 11개 기상관측소의 자료를 이용한 티센망도 기반의 면적강우량으로 산정하였고 이를 GRM에 적용하였다. 강우자료의 Event 선정기간은 2011년 6월 29일부터 2011년 7월 1일까지 86.83mm 강수가 내린 Event이다. 공간자료는 국토지리정보원의 90M DEM(Digital Elevation Model), 농촌진흥청의 정밀토양도와 토심, 환경부 환경공간서비스의 대분류 토지이용도를 이용하였다. 또한, 검정을 위해서 정형우도인 NSE, 비정형우도인 Log-normal 우도를 이용하여 분석하였으며, 각각의 결과값은 NSE 0.966, Log-normal은 -1214.97의 값을 나타냈다. 추후, 다양한 적합지표를 이용하여 GRM의 강우패턴별, 유역별대표매개수가 산정된다면 홍수방어를 위한 강우-유출 모형으로 매우 유용하게 활용될 것으로 판단된다.

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An Economic Feasibility Study for the Slow Food Expo in Korea (산업연관분석을 통한 슬로푸드박람회의 경제적 파급효과 추정)

  • Choi, Jong Du
    • Environmental and Resource Economics Review
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    • v.22 no.4
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    • pp.817-841
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    • 2013
  • The purpose of this study is to examine feasibility of the 'Master Plan of 2013 Slow Food Expo(2013 AsiO Gusto), Korea' and to analyze the following economic effect. To this end, we used existing data and statistics, and estimated the demand by means of survey for people's traveling and questionnaires for ordinary Koreans. For examining financial feasibility for hosting the Expo, BC ratio (Benefit-Cost Ratio) and NPV (Net Present Value) was applied. For estimating the economic effect following the Expo, the effect on all over the country and the Gyeong-gi province was analyzed, using the MRIO (Model of Regional Input-Output). Specifically, with the net effect of Expo, the economic feasibility test shows 1.04~2.15 BC ratio with 10% free admission, and 1.02~2.27 BC ratio in Finance analysis. Furthermore, the Expo feeds through Gyeong-gi (including Nam-yang-ku) regional economies with production induction effect, value-added induction effect, and employment induction effect. The amounts of regional effects are 373.6~738.7 billion won, 166.2~327.4 billion won, and 1,971~2,009 persons, respectively. Also, the "2013 Slow Food Expo, Korea" was analyzed profitable in general. Residents in Nam-yang-ju expects the Expo to bring vitalities into their hometown. The Expo is highly related to the positive economic effectiveness of Nam-yang-ju.

A Study on the Plans for Effective Use of Public Data: From the Perspectives of Benefit, Opportunity, Cost, and Risk (인터넷기반 공공데이터 활용방안 연구: 혜택, 기회, 비용, 그리고 위험요소 관점에서)

  • Song, In Kuk
    • Journal of Internet Computing and Services
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    • v.16 no.4
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    • pp.131-139
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    • 2015
  • With the request for the advent of new engine toward economic growth, the issue regarding public-owned data disclosure has been increasing. The Korean governments are forced to open public-owned data and to utilize them in solving the various social problems and in promoting the welfare for the people. In contrast, due to the distrust of the effectiveness for the policy, many public owned organizations hesitate to open the public-owned data. However, in spite of communication gap between the government and public organizations, Ministry of Government Administration and National Information Society Agency recently planned to accelerate the information disclosure. The study aims to analyze the perception of the public organization for public data utilization and to provide proper recommendations. This research identified mutual weights that the organization recognize in opening and sharing the public data, based on benefit, opportunity, cost, and risk. ANP decision making tool and BOCR model were applied to the analyses. The results show that there are significant differences in perceiving risk and opportunity elements between the government and public organizations. Finally, the study proposed the ideal alternatives based on four elements. The study will hopefully provide the guideline to the public organizations, and assist the related authorities with the information disclosure policy in coming up with the relevant regulations.

A Dynamic Orchestration Framework for Supporting Sustainable Services in IT Ecosystem (IT 생태계의 지속적인 운영을 위한 동적 오케스트레이션 프레임워크)

  • Park, Soo Jin
    • KIPS Transactions on Software and Data Engineering
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    • v.6 no.12
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    • pp.549-564
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    • 2017
  • Not only services that are provided by a single system have been various with the development of the Internet of Things and autonomous software but also new services that are not possible before are provided through collaboration between systems. The collaboration between autonomous systems is similar to the ecosystem configuration in terms of biological viewpoints. Thus, it is called the IT Ecosystem, and this concept has arisen newly in recent years. The IT Ecosystem refers to a concept that achieves a mission of each of a number of heterogeneous systems rather than a single system utilizing their own autonomy as well as achieving the objectives of the overall system simultaneously in order to meet a single common goal. In our previous study, we proposed architecture of elementary level and as well as basic several meta-models to implement the IT Ecosystem. This paper proposes comprehensive reference architecture framework to implement the IT Ecosystem by cleansing the previous study. Among them, a utility function based on cost-benefit model is proposed to solve the dynamic re-configuration problem of system components. Furthermore, a measure of using genetic algorithm is proposed as a solution to reduce the dynamic re-configuration overhead that is increased exponentially according to the expansion of the number of entities of components in the IT Ecosystem. Finally, the utilization of the proposed orchestration framework is verified quantitatively through probable case studies on IT Ecosystem for unmanned forestry management.

Study on Optimal Location of Washland Based on Economic Analysis (경제성 분석에 의한 강변저류지 최적위치 선정에 대한 연구)

  • Ahn, Tae-Jin;Byeon, Chen-Il;Roh, Hee-Sung;Baek, Chun-Woo
    • Journal of Korea Water Resources Association
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    • v.43 no.8
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    • pp.681-694
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    • 2010
  • In this study, methodology to determine optimal location of washlands based on economic analysis is presented. Install costs of washlands are calculated by construction cost and land compensatory cost and benefits of washlands are calculated from flood damage reduction and befit from using washland as wetland. Indirect approach for runoff-flood damage relationship is suggested and benefit-cost analysis is used for economic analysis. Economic analysis is added to existing models that used only flood reduction effect to determine optimal location of washlands. Suggested methodology is applied to 13 potential washlands in Anseong River basin to examine its applicability. Applied result of new methodology is compared with that of existing model. As the application results, it is possible to determine the optimal combinations of washlands can provide more economic benefit compared to existing studies. It is determined that considering economic analysis can be better option for decision making problem searching for optimal location of washlands.

Cost Effectiveness Analysis of Different Management Strategies between Best Supportive Care and Second-line Chemotherapy for Platinum-resistant or Refractory Ovarian Cancer

  • Luealon, Phanida;Khempech, Nipon;Vasuratna, Apichai;Hanvoravongchai, Piya;Havanond, Piyalamporn
    • Asian Pacific Journal of Cancer Prevention
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    • v.17 no.2
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    • pp.799-805
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    • 2016
  • Background: There is no standard treatment for patients with platinum-resistant or refractory epithelial ovarian cancer. Single agent chemotherapies have evidence of more efficacy and less toxicity than combination therapy. Most are very expensive, with appreciable toxicity and minimal survival. Since it is difficult to make comparison between outcomes, economic analysis of single-agent chemotherapy regimens and best supportive care may help to make decisions about an appropriate management for the affected patients. Objective: To evaluate the cost effectiveness of second-line chemotherapy compared with best supportive care for patients with platinum-resistant or refractory epithelial ovarian cancer. Materials and Methods: A Markov model was used to estimate the effectiveness and total costs associated with treatments. The hypothetical patient population comprised women aged 55 with platinum-resistant or refractory epithelial ovarian cancer. Four types of alternative treatment options were evaluated: 1) gemcitabine followed by BSC; 2) pegylated liposomal doxorubicin (PLD) followed by BSC; 3) gemcitabine followed by topotecan; and 4) PLD followed by topotecan. Baseline comparator of alternative treatments was BSC. Time horizon of the analysis was 2 years. Health care provider perspective and 3% discount rate were used to determine the costs of medical treatment in this study. Quality-adjusted life-years (QALY) were used to measure the treatment effectiveness. Treatment effectiveness data were derived from the literature. Costs were calculated from unit cost treatment of epithelial ovarian cancer patients at various stages of disease in King Chulalongkorn Memorial Hospital (KCMH) in the year 2011. Parameter uncertainty was tested in probabilistic sensitivity analysis by using Monte Carlo simulation. One-way sensitivity analysis was used to explore each variable's impact on the uncertainty of the results. Results: Approximated life expectancy of best supportive care was 0.182 years and its total cost was 26,862 Baht. All four alternative treatments increased life expectancy. Life expectancy of gemcitabine followed by BSC, PLD followed by BSC, gemcitabine followed by topotecan and PLD followed by topotecan was 0.510, 0.513, 0.566, and 0.570 years, respectively. The total cost of gemcitabine followed by BSC, PLD followed by BSC, gemcitabine followed by topotecan and PLD followed by topotecan was 113,000, 124,302, 139,788 and 151,135 Baht, respectively. PLD followed by topotecan had the highest expected quality-adjusted life-years but was the most expensive of all the above strategies. The incremental cost-effectiveness ratios (ICER) of gemcitabine followed by BSC, PLD followed by BSC, gemcitabine followed by topotecan and PLD followed by topotecan was 344,643, 385,322, 385,856, and 420,299 Baht, respectively. Conclusions: All of the second-line chemotherapy strategies showed certain benefits due to an increased life-year gained compared with best supportive care. Moreover, gemcitabine as second-line chemotherapy followed by best supportive care in progressive disease case was likely to be more effective strategy with less cost from health care provider perspective. Gemcitabine was the most cost-effective treatment among all four alternative treatments. ICER is only an economic factor. Treatment decisions should be based on the patient benefit.

An Optimal Pricing and Inventory control for a Commodity with Price and Sales-period Dependent Demand Pattern

  • Sung, Chang-Sup;Yang, Kyung-Mi;Park, Sun-Hoo
    • Proceedings of the Korean Operations and Management Science Society Conference
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    • 2005.05a
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    • pp.904-913
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    • 2005
  • This paper deals with an integrated problem of inventory control and dynamic pricing strategies for a commodity with price and sales-period dependent demand pattern, where a seller and customers have complete information of each other. The problem consists of two parts; one is each buyer's benefit problem which makes the best decision on price and time for buyer to purchase items, and the other one is a seller's profit problem which decides an optimal sales strategy concerned with inventory control and discount schedule. The seller's profit function consists of sales revenue and inventory holding cost functions. The two parts are closely related into each other with some related variables, so that any existing general solution methods can not be applied. Therefore, a simplified model with single seller and two customers in considered first, where demand for multiple units is allowed to each customer within a time limit. Therewith, the model is generalized for a n-customer-classes problem. To solve the proposed n-customer-set problem, a dynamic programming algorithm is derived. In the proposed dynamic programming algorithm, an intermediate profit function is used, which is computed in case of a fixed initial inventory level and then adjusted in searching for an optimal inventory level. This leads to an optimal sales strategy for a seller, which can derive an optimal decision on both an initial inventory level and a discount schedule, in $O(n^2)$ time. This result can be used for some extended problems with a small customer set and a short selling period, including sales strategy for department stores, Dutch auction for items with heavy holding cost, open tender of materials, quantity-limited sales, and cooperative buying in the on/off markets.

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Economic Evaluation of Cloud Computing Investment Alternatives (클라우드 컴퓨팅 투자안의 경제성 평가)

  • Kim, Tae-Ha;Yang, Ji-Youn;Yang, Hee-Dong
    • Journal of Korea Society of Industrial Information Systems
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    • v.16 no.3
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    • pp.121-135
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    • 2011
  • We provide an economic evaluation model to help managers make reasonable decision for the investment in the appropriate type of cloud computing. Cloud computing can be classified into public, private and hybrid architecture and we evaluate their attractiveness using traditional NPV and real option methods. We conduct economic analysis by comparing traditional software delivery model with various types of cloud computing. The work compares each mode of cloud computing against each other using passive NPV and dynamic real-option method. For more objective and conservative evaluation of investment alternatives, we eliminate conventional benefits that are often subjective or hard to measure, and count only the reduction of investment cost and maintenance cost as benefit. We argue that hybrid and public cloud computing can be undervalued without their intrinsic options such as abandonment, expansion and contraction.

Control of Industrial Safety Based on Dynamic Characteristics of a Safety Budget-Industrial Accident Rate Model in Republic of Korea

  • Choi, Gi Heung;Loh, Byoung Gook
    • Safety and Health at Work
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    • v.8 no.2
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    • pp.189-197
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    • 2017
  • Background: Despite the recent efforts to prevent industrial accidents in the Republic of Korea, the industrial accident rate has not improved much. Industrial safety policies and safety management are also known to be inefficient. This study focused on dynamic characteristics of industrial safety systems and their effects on safety performance in the Republic of Korea. Such dynamic characteristics are particularly important for restructuring of the industrial safety system. Methods: The effects of damping and elastic characteristics of the industrial safety system model on safety performance were examined and feedback control performance was explained in view of cost and benefit. The implications on safety policies of restructuring the industrial safety system were also explored. Results: A strong correlation between the safety budget and the industrial accident rate enabled modeling of an industrial safety system with these variables as the input and the output, respectively. A more effective and efficient industrial safety system could be realized by having weaker elastic characteristics and stronger damping characteristics in it. A substantial decrease in total social cost is expected as the industrial safety system is restructured accordingly. Conclusion: A simple feedback control with proportional-integral action is effective in prevention of industrial accidents. Securing a lower level of elastic industrial accident-driving energy appears to have dominant effects on the control performance compared with the damping effort to dissipate such energy. More attention needs to be directed towards physical and social feedbacks that have prolonged cumulative effects. Suggestions for further improvement of the safety system including physical and social feedbacks are also made.