• Environmental and Resource Economics Review
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• v.12 no.2
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• pp.217-244
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• 2003

As energy industry is undergoing a rapid structural changes, economic feasibility analysis based on the conventional discounted cash flow (DCF) method has limitations to incorporate management's flexibilities. We present a real options pricing method (ROPM) which can be applied to an energy sector as an alternative. In order to examine the usefulness of ROPM, this study compares the result of DCF method applied to the investment of cogeneration power plant with that based on the ROPM incorporating the value of real of options inherent in the project. The simulation results show that the value of investment opportunities improves using ROPM compared to that with the conventional DCF methods. Therefore, a specific project which appears to be unprofitable from the conventional point of view could be, actually, an economically feasible one based on ROPM method, when properly incorporating the management's flexibilities inherent in the project.

• Proceedings of the KSR Conference
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• 2004.06a
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• pp.334-338
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• 2004

KTX has started commercial service from Seoul to Busan and Mokpo since April 1, 2004. The service line is composed of new-high speed line and conventional line. Before KTX is runs, the maximum operational speed on conventional line was 140km/h. In order to reduce the traveling time, operation speed of KTX must be increased on the conventional line. So, we performed test running with prototype HSR-350x and verification of safety was made in $10\%$ speed-up. Korean High Speed Train HSR-350x) was developed by G7 - R&D project. In this study, in safety aspect, several technical reviews are introduced and the possibility for reduction of traveling time is investigated on the conventional line by using HSR-350x.

• Journal of Construction Engineering and Project Management
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• v.4 no.3
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• pp.21-32
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• 2014

The practiced conventional methods for maintenance management in Malaysian Polytechnic faced many issues due to poor service delivery, inadequate finance, poor maintenance plan and maintenance backlogs. The purpose of this study is to improve the conventional method practices which tend to be ineffective in Malaysian Polytechnic. The case studies were conducted with eight Polytechnics and are selected based on conventional method practices and its major problems. There are around 32 Polytechnics in Malaysia and almost are using conventional methods. The number is considered very big indicating that the use of modern Information and Communication Technology (ICT) is still very limited compared to other institutions of higher learning in Malaysia. The overall findings of this research indicated; poor service delivery, inadequate financial, poor maintenance planning and maintenance backlogs. There is also need to overcome less man power competencies of maintenance management practices which existed with all eight Polytechnics. The proposed system is intended to be used for maintenance management practices at Malaysian Polytechnics in order to provide high-quality of building facility with safe and healthy environments.

• Journal of KIISE:Software and Applications
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• v.30 no.3_4
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• pp.293-307
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• 2003

Object-oriented development has been generalized, but object-oriented project planning and scheduling techniques have not been studied enough. Furthermore, it is difficult to apply the conventional software management techniques to object-oriented projects. Especially, the large scaled projects are increasing, but the project planing techniques for these large scaled projects have not been proposed enough. In this paper, we propose systematic techniques for OO based project scheduling. We suggest a 7 step-process for deriving the OO project schedule from the use-case diagram which is describing the functional requirements of the system. The proposed process includes identifying use-cases, drawing preliminary chart through interdependency analysis, identifying characteristics of each use case, determining the number of iteration, assigning use-cases to iteration, considering available resource and constraints, drawing revised PERT chart. Each step has the explanation of the input, output, and the guidelines needed to perform the step. The project scheduling technique proposed in this paper ran be used effectively in the planning phase which the purpose is to plan a development schedule to yield the high quality software in minimum time.

• Journal of Korean Society on Water Environment
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• v.25 no.5
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• pp.778-784
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• 2009

The purpose of this study is to figure out the differences of the inflow rates of Sewage Treatment Plants (STP), invested by public fund or public-private partnership (PPP). This paper finds that the average ratio of sewage inflow according to facility capacities (medium and small scale STP) was either nearly below 30% or above 100% in the first year. As the size of STP increased, there was decrease in the accuracy of demand assumption. This was because the operation time when the ratio of sewage inflow was uniform was different according to the size of STP, whereby the time was short when the STP were small. The design average ratio of sewage inflow was 10% larger than the real average ratio; this was considered overdesigned. In the case of a plant built by the PPP scheme, the average ratio of inflow of the STP before an abolition of MRG was larger than after the abolition of MRG. This may be explained by moral hazard from too much reliance on MRG. After the abolition of MRG, the demand risk of PPP was shifted from a PPP project to a conventional project.

• Asian-Australasian Journal of Animal Sciences
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• v.18 no.8
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• pp.1157-1163
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• 2005

An experiment was conducted to study the effect of replacing soyabean meal (SBM) at 50 and 100% with conventional (CMC) and low glucosinalate mustard cakes (LGMC) in iso-caloric and iso-nitrogenous diets in broiler chickens. All these diets contained 0.1% choline chloride with a purity of 50% (w/w). Another diet was prepared by replacing SBM in toto with CMC with no supplemental choline to find out the possible role of supplemental choline in mustard cake (MC) based diets. Two hundred and seventy day-old broiler chicks were distributed randomly in 54 stainless steel battery brooder pens of five chicks in each pen. Each experimental diet was allotted at random to nine battery brooders and offered ad-libitum from day 2 through 42 days of age. Body weight gain was significantly depressed by total replacement of SBM with either LGMC or CMC at 21 days of age. Non-supplementation of choline significantly depressed the growth compared to those fed CMC 100% with supplemental choline. However, at 42 days of age, such an effect was seen only with CMC. Replacement of SBM with CMC 100% with or without choline supplementation depressed the body weight gain. The concentrations of cholestorol and tryglicerides in serum and the relative weights of ready to cook yield, giblet and gizzard decreased by incorporation of mustard cakes in broiler diets. The trend in fat and protein contents in breast and thigh muscles and liver was not clearly attributable to the treatment effect. Based on the results, it is concluded that SBM can be replaced in toto with LGMC (535.0 and 466.5 g/kg starter and finisher diets, respectively) or up to 50% (215.0 and 186.7 g/kg starter and finisher diets, respectively) with CMC in commercial broiler chicken diets. Choline supplementation at 0.1% level in broiler diets containing CMC was found to be beneficial during starter phase.

• Korean Journal of Construction Engineering and Management
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• v.8 no.2
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• pp.164-172
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• 2007

The development project usually aims to get a certain amount of return for its investment in land and capital. The success of such project is dependent on the accurate analysis of the feasibility and for casting. It is, however, very difficult to predict due to various environmental factors. For this, it is necessary to constitute a systematic and objective method of analysis. However, there is no method of analysis for numerous qualitative factors, such as legal, environmental, marketability. Moreover, conventional methods have some limitations because they are processed without all the scope of analysis items and any evaluation criteria. Therefore, this study will provide computerization model for feasibility study focusing on the apartment development project by a pre-sall method. This research does casestudies to assess the feasibility analysis by the computerization model and compares to the results of the conventional methods. It showed that the evaluation results for the qualitative analysis were proportional to actual sale result. This implies that qualitative subjective factors have high correlation with sale rate and sale prices.

• International conference on construction engineering and project management
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• 2017.10a
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• pp.73-79
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• 2017

Rapidly expanding population in the Kingdom of Saudi Arabia has a massive impact to put pressure on the shortage of housing and existing infrastructure. With average population growth rate of 1,9% yearly, the population in Saudi Arabia is projected to increase from 31 million in 2015 to 37 million in 2025. According to the housing ministry, Saudi Arabia needs to provide 3.3 million units to meet the demand in 2025, which is about 300,000 unit a year. In the past 40 years, using the conventional construction method, the Saudi construction industry was only able to build about 150,000 units per year. To meet the demand gap for the housing shortage, a new approach and innovation in construction methods are needed. Industrialized construction as an approach in construction methods has been studied and implemented in some countries that experienced similar corncerns. Industrialized construction can be defined as the implementation of manufacturing methods to construction-related activities to improve quality, reduce cost and project duration. Compared to the conventional construction method, prefabrication as industrialized construction methods has reduced construction labor on-site by 9.5%, construction project duration by 20%, and construction waste by 56%. It improves the quality, durability and cost saving not only for construction project owners, but also construction contractors. This paper discusses the possibility of 'industrialization' of building system in the Kingdom of Saudi Arabia as a solution for the housing shortage. It is an initial part of a study aims to develop a framework to develop industrialized building system in the Kingdom of Saudi Arabia. The is paper based on extensive literature review and case studies.

• Journal of Construction Engineering and Project Management
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• v.7 no.4
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• pp.1-12
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• 2017

India has accorded a high priority to road infrastructure development through Public-Private Partnership (PPP) and it has set a high target for investment inflows. Yet, it is widely held that road/highway infrastructure has not been developing at required pace and that the road infrastructure projects under PPP have been suffering from several hurdles and delays, thereby affecting project success/failure. This paper is an attempt to analyze the critical success/failure factors of road infrastructure projects under PPP in India. A questionnaire survey was conducted among a sample of the stakeholders of road infrastructure projects to identify the critical success/failure factors during all four major project stages using different approaches. Initially, the critical factors were identified through ranking based on the average/mean score. Later, the conventional RII score was used to identify the critical success/failure factors. Finally, the critical success/failure factors were also identified based on the stakeholder-wise ranking of the factors and their convergence. The assessment revealed that there was a greater convergence across the different methods and also that there was greater consensus among project stakeholder on the critical success/failure factors of road PPP projects.

• International conference on construction engineering and project management
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• 2020.12a
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• pp.353-358
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• 2020

Recent efforts to develop a common standard for nuclear power plants (NPPs) with the aim of creating (1) a digital environment for a better understanding of NPPs life-cycle management aspect and (2) engineering data interoperability by using existing standards among different unspecified project participants (e.g., owners/operators, engineers, contractors, equipment suppliers) during plants' life cycle process (EPC, O&M, and decommissioning). In order to meet this goal, there is a need for formulating a standardized high-level physical breakdown structure (PBS) for NPPs project management office (PMO). However, high-level PBS must be comprehensive enough and able to represent the different types of plants and the new trends of technologies in the industry. This has triggered the need for addressing the issues of the recent operational NPPs and future technologies' ramification for evaluating the changes in the NPPs physical components in terms of structure, system, and component (SSC) configuration. In this context, this ongoing study examines the recent conventional NPPs and technological trends in the development of future NPPs facilities. New reactor models regarding the overlap of variant issues of nuclear technology were explored. Finally, issues on PBS for project management are explored by the examination of the configuration of NPPs primary system. The primary systems' configuration of different reactor models is assessed in order to clarify the need for analyzing the new trends in nuclear technology and to formulate a common high-level PBS. Findings and implications are discussed for further studies.