• International conference on construction engineering and project management
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• 2007.03a
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• pp.820-829
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• 2007

This paper presents an evaluation of feasibility studies conducted to justify investments in infrastructure projects. An analysis of a previous feasibility study for a highway construction project is presented in this paper with an emphasis on the estimates and forecasts presented in that study in order to weigh expected benefits from the project against expected costs. The forecasted numbers are compared with actual data collected during the operation phase about the usage of the facility. The comparison reveals a huge difference between estimated numbers and actual numbers. Based on the lessons learned from the analyzed case study, recommendations are presented to improve feasibility studies for infrastructure projects including: peer review of feasibility studies; before-and-after feasibility studies; and defined scope and methodology for feasibility studies. Decision makers are advised to take outcomes of feasibility studies for infrastructure projects with extreme caution as some studies may provide erroneous and misleading input to their decisions regarding investment in infrastructure projects.

• International Journal of Railway
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• v.5 no.4
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• pp.144-147
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• 2012

New transport technologies have been rapidly developed and various transport systems are ready to introduce. However, there no exists effective decision making tools for pre-feasibility studies on transport systems. The pre-feasibility studies should provide reliable solutions about whether a certain transport system is feasible or not by cost-benefit analysis and effectiveness test of enhancing regional economy. This study introduces the smart transport investment/information system (SMARTIS) for supporting decision making with ease, fast and reliable methods. The SMARTIS incorporates travel demand estimates into the process of feasibility studies with automatic data processing methods to give reliable solutions quickly. The SMARTIS is expected to be informative for transit agencies, planners, and operators.

• Journal of Korea Technology Innovation Society
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• v.8 no.3
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• pp.1005-1026
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• 2005

On the contrary to the expansion of feasibility studies on public construction and development projects, there is few feasibility studies on S&T, especially large-scale basic research facilities. Based on this critical mind, we tried the first feasibility study on large-scale basic research facilities, that is, the 4th Generation Light Source. First, it is validated whether the construction of 4th Generation Light Source is economically feasible and second, if economically feasible, the optimal place and time for construction are analyzed by using Analytical Hierarchy Process. This research shows that the construction is economically feasible irregardless of scenarios on future bio-medicine industry growth and to construct at Pohang in 2006 is optimal strategy. On the basis of this analysis, the feasibility studies on large-scale basic research facilities are expected to be more expanded and developed.

• Journal of Wind Energy
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• v.15 no.3
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• pp.38-61
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• 2024

The purpose of this study is to introduce in detail an universal methodology of wind resource and energy yield assessment for feasibility studies of offshore wind projects. To conduct a preliminary feasibility study for offshore wind projects, an assessment of wind resources and energy yield are usually performed at an early stage, and this can be an essential process for deriving an economic feasibility evaluation of the project. However, many domestic case studies and preliminary feasibility studies are still conducted using methodologies that lack valid evidence and professionalism. Accordingly, this study introduces methods for general wind resource assessments, wind farm layout (design), and energy yield assessments, and gives detailed reasons why the analysis procedure is necessary. In other words, it was carried out to support to improve the quality and level of basic research related to domestic offshore wind studies.

• Journal of Climate Change Research
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• v.7 no.4
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• pp.373-381
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• 2016

Before the Conference of Parties (COP) 21 of the United Nations Framework Convention on Climate Change (UNFCCC) in 2015, most parties of UNFCCC had submitted their intended nationally determined contributions (INDCs) and to achieve their voluntary targets, some parties consider using international market mechanisms. As one of such mechanisms, Japan promoted its own bilateral mechanism called Joint Crediting Mechanism (JCM). In this study, feasibility studies and projects under JCM have been analyzed by project type, sector, country and region, which could provide some implications in designing Korea's future climate policy to achieve Korea's targets of 11.7% using international market mechanism in INDC. Since 2010, JCM has promoted 542 projects and feasibility studies in 44 countries according to the Institute for Global Environmental Strategies (IGES) database. Among 542 projects, about 80% were feasibility studies implying that JCM was more focused on project identification. However, current trends of JCM show that more projects will be soon implemented based on these feasibility studies. For sectoral categorization, projects were categorized into seven sectors-energy technology, energy efficiency, renewable energy, waste management, city, strategic planning and projects related to the country's efforts to reduce emissions from deforestation and forest degradation (REDD+). JCM projects were mitigation focused with more than 70% of projects were related to energy efficiency, renewable energy and energy technology. At the regional and country level, JCM is highly focused on Asia and especially, more than 100 projects were developed in Indonesia. Based on the analysis of JCM, in order to develop bilateral international mechanism for Korea, it is worthwhile to emphasize that Korea considers Asian countries as her partner. In addition, Korea may consider the collaboration with Multilateral Development Banks (MDBs) to implement projects identified by Korea and Asian partner countries. Furthermore, strategically, it is recommendable to develop jointly with Japan who has already capacity and networks with other Asian countries to mitigate GHG emissions. Such financial resources from MDBs and Japan may contribute to meet the 11.3% of GHG reduction target from abroad according to INDC of Korea.

• International conference on construction engineering and project management
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• 2009.05a
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• pp.847-855
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• 2009

While many studies on feasibility analysis for housing projects have been released, the main focus was on economic feasibility and factors related to developers were not clearly identified enough to be used in practice. In order to establish a feasibility analysis model for apartment development projects requested by developers in Korea, 31 driving factors behind projects' success were identified under seven different categories. Criterions of the each factor were also developed, and weight of each factor was assigned by applying the Analytical Hierarchy Process(AHP). Finally, based on the Monte Carlo simulation, the feasibility analysis model was established, providing probability distribution of project's grade. The model was applied to 12 housing projects to verify its reliability, and found that the model properly filtered projects that are unlikely to be profitable, indicating reasonable reliability of the model. The model can be a useful tool for contractors, especially with less experience in analyzing project development feasibility.

• Journal of the Korea Institute of Building Construction
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• v.9 no.3
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• pp.117-125
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• 2009

With construction industry recession, many construction companies are increasingly conducting the development projects by themselves. However, housing projects requested by developers still stand large portion. Although many studies on feasibility analysis were released, they mainly focused on economic feasibility and lacked research on factors and criterions of overall project. Also, because previous studies overly break downed factors related to project, they rarely used in practice. Therefore, this study developed the feasibility analysis model of housing development projects to help main contractors to easily and effectively decide if it is feasible enough to promote the projects requested by developers, and verified the reliability of the model. In this study, thirty one driving factors were identified under seven different categories and the criterion of each factor was also developed. The survey on important index of each factor found 'salability', 'economic feasibility', 'site location' and 'method of raising fund' significant. 12 projects were tested by the model and its results showed resonable reliability.

• Journal of Information Technology Services
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• v.17 no.3
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• pp.101-115
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• 2018

In order to promote the IT business efficiently, the Preliminary Feasibility Study has been conducted since 2004. It is to verify the feasibility of a large-scale IT project in advance and to determine whether to reflect the budget. It is more difficult to analyze the benefits of the IT project than other projects, because the IT project is carried out by combining tangible and intangible assets and human resources. For this reason, the Standard Guideline for Preliminary Feasibility Study in the IT field suggests a framework to support in estimating the benefits of the IT project. However, it includes the following problems : 1) level discrepancy among the benefit categories, 2) lack of types of benefit items, 3) no consideration of benefit inducing factors. So the framework is facing a low utilization. This study develops a new framework through a three-step research process. The new framework can be used not only for preliminary feasibility studies but also for estimating the benefits of general IT projects.

• KIEAE Journal
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• v.7 no.3
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• pp.71-79
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• 2007

The starting point of successful building production process is the feasibility study of the project. If the feasibility study is poor which is affected in direct production processes such as designing and engineering, it incurs a great unrecoverable loss to the company. The government institutionalized the feasibility study for projects that budgets over 50billion won in an effort to ensure competitiveness of the construction industry after IMF; however, the system and effort to created systematic studies or guidance preparation for private construction development projects are lacking in great deal. Therefore, the objective of this study is to establish the analysis factors of feasibility study and evaluation standard by systematic analysis in consideration of the changes of various variables and mutual relationships using system dynamics technique for office buildings among commercial buildings.

• Korean Journal of Construction Engineering and Management
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• v.11 no.5
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• pp.3-14
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• 2010

This study investigated and analyzed feasibility analysis case studies, carried out by contractor of EPC LSTK projects in the planning stage to suggest the strategies to solve problems for project improvement. For this, five feasibility analysis case studies of gulf cooperation council (GCC) countries were reviewed and investigated. The results can be summarized as follows: 1) Those factors needed to be analyzed, including cost increase, project delay, quality decrease were insufficiently considered when assessing feasibility. 2) And improvement strategies for three problems mentioned above were suggested based on findings in feasibility analysis. 3) Lastly the process of the project feasibility analysis that can be applied to overseas plant construction project was suggested step by step.