• International conference on construction engineering and project management
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• 2015.10a
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• pp.698-699
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• 2015

For last three years, our research team have conducted the project named "Development of construction project management technology based on BIM/GIS platform. "We developed construction cost estimation system as well as 3D modeling engine at the first two year and established a web-system which could estimate the benefits of the project and further analyze the economic and financial feasibility of the project. This paper mainly focused on the functions and specifications of web-system. The system was composed of two modules: economic feasibility estimation module and financial feasibility estimation module. While the economic feasibility estimation module determines economic feasibility of the project based on traffic demand forecasting from the public's perspective, the financial feasibility estimation module determine financial viability of the project using toll fee of the road from private entity's perspective. Compared with traditional feasibility study, the proposed system provide users with better flexibility which can make users easily to validate the project upon the change of project environments. The system was also verified with an already accomplished project. The verification showed that proposed system could provide satisfactory accurate results with reduced time and resources.

• 한국신재생에너지학회:학술대회논문집
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• 2008.10a
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• pp.372-374
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• 2008

Korea classified into a development country when UNFCCC was concluded in 1995. So Korea doesn't have a GHG reduction duty until 2012. As the UNFCCC is strengthened, recently there is a growing interest in renewable energy and energy usage efficiency improvement for reducing GHG emission. It is associated with CES and renewable energy. CES is a total energy (heat, cooling and power)supplier in aggregated demand zone like a hotel, building, hospital and redevelopment district using CHP and it improves energy usage efficiency. At present, renewable energy is needed for GHG reduction duty but renewable energy doesn't have economic feasibility. So renewable energy is needed various support system to popularize which is a FIT and RPS. Especially RPS is carrying out instead of FIT in many advanced country and it will be inroduced in Korea. RPS is a duty which electricity service provider must guarantee renewable energy as much as specific ratio of total capacity. Therefore this study conducts an economic feasibility estimation of CES considering renewable energy when RPS will introduced in the future.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• autumn
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• pp.454-459
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• 2003

Feasibility study on large scale projects like an investment on infrastructure development is very important because it provides fundamental data which determine the total investment size and duration. However, previous feasibility studies have a few problems of ambiguous estimation standards, unsystematical estimation methods, and so on. Accordingly, this study intends to regulate tile problems on economic feasibility as well as financial feasibility study which have been considered more critical in recent time, subsequently presents a reform measure. Also, this study identifies predictable risks during the feasibility study, presents a scheme which lets investor and owner control the risk themselves through a process which uses theoretical and political management plans.

• Proceedings of the KSR Conference
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• 2010.06a
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• pp.437-441
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• 2010

The SOC project such as road and railway performs a preliminary feasibility study according to the priority of the individual projects after establishing the master plans. For a preliminary feasibility study, feasibility evaluation should be performed according to the transport demand estimation and economic analysis. The feasibility of individual project will be performed by focussing on the results of analyzing economic feasibility. In case that analysis of the traffic demand and the economic feasibility every phase is performed, a lot of time and expense will be required in the course of promoting projects. So this study could give help to determine the priority of the project by intuitive method only in the phase to establish the master plan and a preliminary feasibility study.

• Proceedings of the Korea Technology Innovation Society Conference
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• 2015.11a
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• pp.867-883
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• 2015

• Journal of Information Technology Applications and Management
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• v.21 no.4_spc
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• pp.345-359
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• 2014

Technological, policy and economic factors are both important variables in maximizing the results of a national R&D program and key indicators in evaluating an R&D program's eligibility for financial support. Economic analysis, in particular, is used when selecting R&D programs, setting priorities, and estimating economic effects. This paper examines a series of methodological issues related to the economic analysis of national R&D programs within the framework of the current preliminary feasibility evaluation system, and proposes alternative approaches to each of the issues discussed. The issues include the definition of R&D valuation and establishment of valuation factors; estimation of sales attributable to R&D investment; assessment of the total economic value of R&D as intellectual assets; estimation of R&D benefits and assumption of related to sales; and the application of discount rates based on the weighted average cost of capital. Finally, this study presents directions for future research on analytical procedures and methods of improving the reliability of the results of economic analysis within the national technology planning system.

• Korean Journal of Chemical Engineering
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• v.35 no.12
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• pp.2348-2354
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• 2018

We designed a conceptual model of the 2.3-BDO dehydration process using a hydroxyapatite-alumina catalyst and estimated its economic feasibility to predict the appropriate range of the purchase price of 2,3-BDO on commercial scale. The conceptual design and economic analysis can offer valuable information for the industrial application of 2,3-BDO because the most relevant studies have limitation in laboratory scale. Furthermore, the adequate range of 2,3-BDO price, in which the process has profitability, was investigated with the current market prices of 1,3-BD. The investigated price in terms of 2,3-BDO dehydration can pertain to estimation of the economic feasibility in 2,3-BDO production process.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.30 no.5D
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• pp.461-465
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• 2010

The objective of this study is to calculate road user costs that caused by the expansion work of metropolitan arterial highway and to analyze the costs that affect economic feasibility evaluation. "Taerung~Guri IC" section of Bukbu Expressway was selected as a case study. As a result, it shows that these costs could be a factor for determining economic feasibility for some projects. However, decreased capacity and free-flow speed are seriously different as period, type, length and traffic volume of work zones. These factors that decrease traffic capacity and free-flow speed should be deeply researched in the future.

• The Journal of the Korea Contents Association
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• v.9 no.1
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• pp.407-416
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• 2009

It is evident that a financial feasibility study based on the economic analysis has been theoretically and practically accepted in the aspect of its adequacy. However, it is not easy to apply in the practical business affairs since there exist some difficulties on the economic analysis and the interpretation of the result because of the difficulty of the estimation of the discount rate. This study aims to suggest a method of the financial feasibility study based on the economic analysis. The results of this study are as follows. First, this study can increase the reliance and adequacy of the economic analysis result by suggesting a method of estimating the discount rate by means of the proxy ${\beta}$ method in the practical way. Second, this study can provide the overall frame of the financial feasibility study based on the economic analysis method (namely, Net Present Value Method internal rate of return, profit index method and payback period method)which use discount rate and cash flow. Third, this study can suggest an practical analysis skill required in each step of the financial feasibility study.

• Journal of the Korean Society for Geothermal and Hydrothermal Energy
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• v.7 no.1
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• pp.59-64
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• 2011

Feasibility study on energy saving system by utilizing exhausted heat from subway, which is one of the unused energy, was carried out. General heat source system using absorption chiller-heater was used for comparing to the energy saving system, and payback period method using initial cost and running cost of two systems, was used to perform economic estimation. Payback period was about ten years, and this period might be shortened if nation's economic support enact.