• 국제학술발표논문집
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• The 2th International Conference on Construction Engineering and Project Management
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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.

• 한국농공학회논문집
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• 제61권5호
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• pp.49-55
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• 2019

This study attempted to investigate the changes in the perception of local government officials about agricultural infrastructure improvement projects due to the financial policy changes. A total of 141 local government officials were surveyed on the priority, the current status of the agricultural infrastructure improvement projects. Irrigation facilities renovation project and Small drainage improvement project had generally high priority, while Support project of cultivation basis for upland crops in paddy, Large scale land readjustment project, and Upland infrastructure improvement project had low priorities. After the introduction of the block grant system, agricultural infrastructure improvement projects had often been conducted by collecting opinions from local residents. The officials in charge of local governments recognized that the agricultural infrastructure improvement projects were reduced due to lack of financial resources and project potential sites. In response to the changes in the agricultural infrastructure improvement projects, most of the surveys showed that the influence of cities and provinces was strengthened. In addition, respondents most needed to improve the subsidy rate and there were a large number of cases requiring differential support to meet the characteristics of the local government. Therefore, it will be necessary to present a new perspective on the agricultural infrastructure improvement projects and to suggest differentiated projects for each regions.

• Journal of Construction Engineering and Project Management
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• 제7권4호
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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.

• 기술사
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• 제33권4호
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• pp.12-16
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• 2000

Since the industrial revolution in 19 century, there had been a pro and con argument on which is better solution between privatization and nationalization in developing the infrastructure projects and in maintaining the infrastructure facilities worldwide. This paper introduces the privatization-nationalization wheel along with its advantage and disadvantage. At this stage according to the global trend, it is the time that the most of infrastructure projects are being developed by the private sector in the industrialized countries. It is mainly because the product or the services produced by the facilities of the infrastructure should be fully paid back by the end users according to the mechanism of the market economy. Some solutions have been suggested for the future development of infrastructure projects in S-N Korea.

• 국제학술발표논문집
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• The 1th International Conference on Construction Engineering and Project Management
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• pp.731-736
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• 2005

The governmental attitude toward private investment and financing for infrastructure projects has changed from the initial prohibition to the current encouragement in China, which has been embodied in the legal documents and administrative process. However, the problem of identification, bidding, and approval procedure for privately financed infrastructure projects has been observed in policies and administrative measures promulgated by different or even the same government branches, which is prohibitive factors for smooth project implementation. After analysis of the identification, bidding, and approval process of infrastructure projects, the authors proposed a simplified and alternative procedure and clarified the key points of relevant project documents.

• 국제학술발표논문집
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• The 9th International Conference on Construction Engineering and Project Management
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• pp.83-90
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• 2022

Public-private partnerships (PPP) projects are becoming popular in both developed and developing countries due to their ability to access new financing sources and transfer certain project risks to the private sector. PPP has been an active research area where the concept of Critical Success Factors (CSF) is often discussed by researchers. This study aims to identify the CSFs for various PPP infrastructure projects that have been explored in previous CSF studies. This article reviewed the literature about CSF in PPP projects from the years 2002 to 2021, compared the findings of studies regarding the identified CSFs, and consolidated the CSFs that can be applied to various PPP infrastructure projects. The results showed that dominant research focused on general infrastructure, where CSFs can be applied to all infrastructure sectors rather than any specific sector. The most identified CSFs from the study are favorable and efficient legal frameworks, appropriate risk allocation and sharing, a robust and reliable private consortium, a competitive and transparent procurement process, and political support and stability. The findings from the study can provide an overview of CSFs that are relevant to specific PPP infrastructure sectors like building infrastructure, transportation, water, etc. as well as for general infrastructure. In addition, the results can also be used for further empirical analysis.

• 농촌계획
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• 제20권2호
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• pp.139-150
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• 2014

The purposes of this research are to review the current economic measures to be used to assess the economic effects of agricultural infrastructure projects, to find some effects not included into the current measures, and to suggest new additional economic measures. So thus, economic assessment for agricultural infrastructure projects has been criticized to be overestimated. For example, some research reported that the projects enhanced rice productivity by 20% or 30%. We suggest four new measures to evaluate economic effects of agricultural infrastructure projects: (1) enhancement in productivity, (2) switchover from low-income crops to high-income crops, (3) rises in land price, and (4) lower fluctuation in production.

• 국제학술발표논문집
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• The 9th International Conference on Construction Engineering and Project Management
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• pp.984-991
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• 2022

The use of the sustainability rating systems in infrastructure construction projects is not as common in comparison to building construction projects. While the sustainability rating systems share some commonalities, they differ from one another in certain ways. Thus, project teams cannot make reliable decisions when choosing the best sustainability rating tools for a given infrastructure projects. The Department of Transportation (DOT) in several states are developing its own rating system to address the infrastructure sustainability, but not in the case of California. Therefore, this paper presents the statistical results on the important sustainability determinants that affects the success of meeting sustainability goals of infrastructure construction projects. The authors conducted an online survey using the structured questionnaires. The categories considered include site, water/wastewater, energy, materials/resources, environmental, and others. The statistical analyses such as Kruskal-Wallis and ANOVA are conducted using a total of 25 valid and complete data out of 59 surveys collected. The results demonstrate several factors under each of six major sustainable categories have received higher ranks than other factors. The results also show that a statistically significant difference can be found from water, energy, and environmental categories against the other category based on the pairwise comparisons.

• 한국건설관리학회:학술대회논문집
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• 한국건설관리학회 2006년도 정기학술발표대회 논문집
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• pp.310-316
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• 2006

Since 'Act on Private Participation in Infrastructure' were changed in January 2005, BTL(Build-Transfer-Lease) projects of Private Participation in Infrastructure was introduced in the domestic construction market for the purpose of providing public facilities with the public. Selecting the most qualified Promoter should be considered discreetly in BTL projects because BTL projects is for projects with approximately thirty year project life cycle, plan, construction, operating, maintenance and obviously the success of the project totally depends on the capability and role of Promoter. However, score for cost is likely to influence selecting Promoter to take the project. Accordingly, low bid contract with too much competition could decrease the quality of the construction plan and operating plan. Thus, this study did preliminary research and documents on problems of evaluation criteria for selecting Promoter in BTL projects, and proposed improvement factors by doing questionnaire over specialists of each field.

• 국제학술발표논문집
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• The 2th International Conference on Construction Engineering and Project Management
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• pp.563-572
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• 2007

Transportation infrastructure is critical to economic growth of a country such as China. Careful evaluation of investments in traffic infrastructure projects is therefore pertinent. As traditional evaluation methods do not consider the uncertainty of future cash flows and mobility during project execution, the real option approach is gradually gaining recognition in the context of valuing construction and infrastructure projects. However, many of the cases only evaluate individual options separately although multiple options often exist in a typical large infrastructure project. Using a highway project in China as a case study, this paper first evaluates a deferment option and a growth option embedded in the project. Subsequently, the values are combined using the fuzzy analytical hierarchy process. It is found that the combined value is less than the sum of the two option values. This finding is consistent with the theoretical observations given in past real option literature despite the use of a different approach.