• Proceedings of the SAREK Conference
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• 2009.06a
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• pp.218-223
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• 2009

Cost related to building equipment accounts for about 85% of the life cycle cost of buildings. Therefore proper selection of air-conditioning system is important for reducing the overall cost of buildings. In this study, large capacity ice thermal storage and absorption chiller-heater for air-conditioning a building with a floor area of $9,900\;m^2$ are compared economically. For easy input and analysis, an Ms Excel VBA program has been developed. To consider all the factors of initial and operation costs effectively, an annual equal payment method is proposed. Under the assumptions made in this study, overall cost of an absorption chiller-heater is less than that of an ice thermal storage, but this is not absolute and different outcome may result if different assumptions are made. This study is useful for those who are interested in choosing an economical air-conditioning system for large-size buildings with simple calculations.

• Journal of the Society of Naval Architects of Korea
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• v.48 no.4
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• pp.325-329
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• 2011

Floating, production, storage and offloading (FPSO) is a production facility that refines and saves the drilled crude oil from a drilling facility in the ocean. The flare system in the FPSO is a major part of the pressure relieving system for hydrocarbon processing plants. The flare system consists of a number of pipes and complicated connection systems. Decision of pipe support types is important since the load on the support and the stress in the pipe are influenced by the pipe support type. In this study, we optimally determined the pipe support types that minimized the support cost while satisfying the design constraints on maximum support load, maximum nozzle load and maximum pipe stress ratio. Performance indices included in the design constraints for a specified design were evaluated by pipe structural analysis using CAESAR II. Since pipe support types were all discrete design variables, an evolutionary algorithm (EA) was used as an optimizer. We successfully obtained the optimal solution that reduced the support cost by 27.2% compared to the initial support cost while all the design requirements were satisfied.

• Korean Journal of Air-Conditioning and Refrigeration Engineering
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• v.19 no.7
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• pp.491-499
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• 2007

An architectural means of optimal daylight distribution is by using so-called light shelf systems, horizontal shading and redirecting devices. The overall performance of the daylighting system can be improved by the incorporation with electric lighting control devices. This paper aims to exemplify the benefit of daylighting in term of economic consideration. In such a case a reasonable technique to compare system costs is by life-cycle costing. Stated simply, a life-cycle cost represents the total cost of a system over its entire life cycle, that is, the sum of first cost and all future costs. Four different electric lighting system designs are proposed and a lighting control system that is continuously operating according to the level of daylight in the space has been adapted. The result shows clearly that although denser layout of lighting fixtures might be more effective to interface to the level of daylight ceaselessly changeable, its economic benefit may not meet the expected criterion the reason of increased initial investment and maintenance cost for the fixtures and control devices.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.35
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• pp.41-69
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• 2007

This study analyzes some important implications for the forthcoming revision of eUCP through the methodology of expected utility maximization theory. The overall results are as follows. First, beneficiary with an initial wealth has a risk-averse utility in traditional letter of credit transaction, and he would be more risk-averse in eUCP transaction. Secondly, the beneficiary who has risk-averse utility will pay for the risk premium to reduce the risk of corruption of an electronic record by means of cost of loss reduction activities. Thirdly, the cost of loss reduction activities is represented by a convex cost function, Fourthly, a risk averse beneficiary pursues loss reducing activities to the point where the expected marginal product of loss reduction is less than its marginal cost. Fifthly, a more risk-averse eUCP beneficiary will always select a higher level of loss reduction as long as the effectiveness of loss reduction is certain. Sixthly, when the effectiveness of loss reduction is uncertain, the more risk-averse eUCP beneficiary does not necessarily choose a higher level of loss reducing activities. Finally, it would be more reasonable that eUCP Article 11 should protect eUCP beneficiary who pursues a higher level of loss reducing activities.

• Korean Journal of Air-Conditioning and Refrigeration Engineering
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• v.21 no.11
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• pp.621-628
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• 2009

The objectives of this study are to analyze the performance of a river water-source heat pump and to carry out economic assessment for the heat pump. The COP of the river water-source heat pump was 3-21% higher than that of the air-source heat pump because river water provides stable operating temperature compared with air temperature throughout the year. The economic analysis was carried out by comparing the initial and operating cost of the river water-source heat pump with those of the conventional air-source heat pump. The ratio of the life cycle operating cost to the life cycle cost increased with the increase of building capacity. The payback period was found to be less than 3.5 years when the capacity of the river water-source heat pump was larger than 10 RT.

• Proceedings of the Korean Institute of Building Construction Conference
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• 2011.05a
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• pp.153-155
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• 2011

In this study, an insulation panel system that has the most excellent economic feasibility in a long term LCC viewpoint in some analysis, which determine a proper insulation panel construction method for the out wall of structures, is analyzed. As a result, in the case of a deterministic LCC analysis, the initial investment cost represents about 80,000Won/㎡ for extrusion ceramic panels. Also, although the costs of maintenance, disassembling, and disposal show no large differences compared with other panel systems, metal panels indicate a bit higher than other panel systems about 1.5 times. In the probability density function that analyzes the variation of the probabilistic cost between panel systems and its economic feasibility, metal panels show the highest cost distribution and extrusion and stone panels represent low cost distributions. In the cumulative function distribution that composites probability density functions, the extrusion ceramic panel represents the most excellent economic feasibility and reliability and that is also the most superior subject among the subjects used in this study.

• KIEAE Journal
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• v.6 no.3
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• pp.11-18
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• 2006

Attention on daylighting should be focused not so much on a simple maximization of the natural light available in a space, as on improving the quality of lighting by ensuring as even but intense distribution of illumination in inner areas. An architectural means of optimal daylight distribution is by using so-called light shelf systems, horizontal shading and redirecting devices. The overall performance of the daylighting system can be improved by the incorporation with electric lighting control devices. This paper aims to exemplify the benefit of daylighting in term of economic consideration. In such a case a reasonable technique to compare system costs is by life-cycle costing. Stated simply, a life-cycle cost represents the total cost of a system over its entire life cycle, that is, the sum of first cost and all future costs. Four different electric lighting system designs are proposed and a lighting control system that is continuously operating according to the level of daylight in the space has been adapted. The result shows clearly that although denser layout of lighting fixtures might be more effective to interface to the level of daylight ceaselessly changeable, its economic benefit may not meet the expected criterion the reason of increased initial investment and maintenance cost for the fixtures and control devices.

• Journal of the military operations research society of Korea
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• v.26 no.1
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• pp.89-99
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• 2000

This paper deals with a heuristic algorithm for the vehicle routing-scheduling problem to minimize the total travel distance and the total cost. Because the aim of the Clarke-Wright method, one of famous heuristic methods, is to minimize the total travel distance of vehicles, it cannot consider the cost if the cost and the travel distance is not proportional. In the Clarke-Wright method, the route of each vehicle is found by using the saving matrix which is made by an assumption that the vehicle comes back to the starting point. The problem dealt with in the paper, however, does not need the vehicle to come back because each vehicle has its hoping-start-points and hoping-destination-points. Therefore we need a different saving matrix appropriate to this occasion. We propose a method to find an initial solution by applying network simplex method after transforming the vehicle routing-scheduling problem into the minimum cost problem. Moreover, we propose a method to minimize the total travel distance by using the modified saving matrix which is appropriate to no-return occasion and the method for the case of plural types of vehicles and freights.

• Earthquakes and Structures
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• v.7 no.3
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• pp.271-294
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• 2014

In recent years, along with the advances made in performance-based design optimization, the need for fast calculation of response parameters in dynamic analysis procedures has become an important issue. The main problem in this field is the extremely high computational demand of time-history analyses which may convert the solution algorithm to illogical ones. Two simplifying strategies have shown to be very effective in tackling this problem; first, simplified nonlinear modeling investigating minimum level of structural modeling sophistication, second, wavelet analysis of earthquake records decreasing the number of acceleration points involved in time-history loading. In this paper, we try to develop an efficient framework, using both strategies, to solve the performance-based multi-objective optimal design problem considering the initial cost and the seismic damage cost of steel moment-frame structures. The non-dominated sorting genetic algorithm (NSGA-II) is employed as the optimization algorithm to search the Pareto optimal solutions. The constraints of the optimization problem are considered in accordance with Federal Emergency Management Agency (FEMA) recommended design specifications. The results from numerical application of the proposed framework demonstrate the capabilities of the framework in solving the present multi-objective optimization problem.

• Journal of Powder Materials
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• v.29 no.5
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• pp.418-423
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• 2022

Carbon fibers (CFs) are considered promising composite materials for various applications. However, the high cost of CFs (as much as $26 per kg) limits their practical use in the automobile and energy industries. In this study, we developed a continuous stabilization process for manufacturing low-cost CFs. We employed a textile-grade polyacrylonitrile (PAN) fiber as a low-cost precursor and UV irradiation technique to shorten the thermal stabilization time. We confirmed that UV irradiation on the textile-grade PAN fibers could lower the initial thermal stabilization temperature and also lead to a higher reaction. These resulted in a shorter overall stabilization time and enhancement of the tensile properties of textile-grade PAN-based CFs. Our study found that only 70 min of stabilization time with UV irradiation was required to prepare textile-grade PAN-based low-cost CFs with a tensile strength of 2.37 ± 0.22 GPa and tensile modulus of 249 ± 5 GPa.