• Title/Summary/Keyword: O&M contract

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Valuation of highway O&M contract using real option (실물옵션을 활용한 고속 도로 유지관리 계약의 가치산정)

  • Park, Taeil;Shin, Eun-Young;Lee, Yoo-Sub
    • Journal of the Korea Academia-Industrial cooperation Society
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    • v.14 no.11
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    • pp.5964-5970
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    • 2013
  • The recent budget planning for highway infrastructure implied that the investments for Operation & Maintenance(O&M) became greater than that for new construction. This circumstance made many stakeholders pay attention to the O&M of road infrastructure and adopt other countries' policies and system for effective management. In other countries, most O&M for road infrastructure have been done by private entities using long-term contract and Korea is about to shift from one year contract to long-term contract. The most important parts for the expansion of the long-term O&M contract for road infrastructure are valuation of the O&M contract based on accurate prediction of O&M costs and instrument for proper risk sharing between contracting parties. Thus, this study provides a methodology to estimate a reasonable O&M contract price and a framework to share contract risk between contracting parties using real option. The analysis results showed that the contract price and ceiling and floor conditions for the 20 year-contract of 20 km-highway project were 45.7, 60 and 42.3 billion won, respectively.

Application of Big Data and Machine-learning (ML) Technology to Mitigate Contractor's Design Risks for Engineering, Procurement, and Construction (EPC) Projects

  • Choi, Seong-Jun;Choi, So-Won;Park, Min-Ji;Lee, Eul-Bum
    • International conference on construction engineering and project management
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    • 2022.06a
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    • pp.823-830
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    • 2022
  • The risk of project execution increases due to the enlargement and complexity of Engineering, Procurement, and Construction (EPC) plant projects. In the fourth industrial revolution era, there is an increasing need to utilize a large amount of data generated during project execution. The design is a key element for the success of the EPC plant project. Although the design cost is about 5% of the total EPC project cost, it is a critical process that affects the entire subsequent process, such as construction, installation, and operation & maintenance (O&M). This study aims to develop a system using machine-learning (ML) techniques to predict risks and support decision-making based on big data generated in an EPC project's design and construction stages. As a result, three main modules were developed: (M1) the design cost estimation module, (M2) the design error check module, and (M3) the change order forecasting module. M1 estimated design cost based on project data such as contract amount, construction period, total design cost, and man-hour (M/H). M2 and M3 are applications for predicting the severity of schedule delay and cost over-run due to design errors and change orders through unstructured text data extracted from engineering documents. A validation test was performed through a case study to verify the model applied to each module. It is expected to improve the risk response capability of EPC contractors in the design and construction stage through this study.

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The Effects of Prostaglandin $F_{2{\alpha}}$ on the Contractility of Vascular Smooth Muscle in the Aortic Strip of Rabbits (Prostaglandin $F_{2{\alpha}}$가 가토 대동맥 평활근 수축성에 미치는 영향)

  • Chung, Soo-Sung;Kim, Se-Hoon;Chang, Seok-Jong;Park, Hae-Kun
    • The Korean Journal of Physiology
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    • v.23 no.1
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    • pp.99-108
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    • 1989
  • The effects of prostaglandin $(PGF_{2{\alpha}})$ on the contractility of vascular smooth muscle were investigated in the helical strip of the rabbit aorta. The aortic strip was immersed in the phosphate-buffered Tyrode's solution which was equilibrated with 100% $O_{2}$ at $35^{\circ}C$ and its isometric tension was measured. The contraction was induced by $(PGF_{2{\alpha}})$, norepinephrine (NE), or potassium (40 mM) in the nomal Tyrode's solution (1 mM, $Ca^{2+}$) or $Ca^{2+}-free$ Tyrode's solution. Effects of verapamil and phentolamine on the contraction were also observed. The aortic strip began to contract at the concentration of $5\;{\mu}g%$ and reached the maximal contraction at the concentration of $150\;{\mu}g%$ $(PGF_{2{\alpha}})$. The maximal contraction was corresponded respectively to $52.2{\pm}3.0%$ and $81.5{\pm}3.5%$ of maximal contraction by NE $(1{\times}10^{-5}M)$ and 40 mM $K^{+}$. And the maximal contractions by $(PGF_{2{\alpha}})$ or NE were induced at the concentration of about 1 mM $Ca^{2+}$. $(PGF_{2{\alpha}})$ induced the contraction of aortic strip even after induction of contraction by 40 mM $K^{+}$ and the contraction by $(PGF_{2{\alpha}})$ was not blocked by the ${\alpha}-receptor$ blocker, phentolamine. And the contraction by the $(PGF_{2{\alpha}})$ was inhibited partially by a verapamil at the concentration of $1{\times}10^{-5}M$ and the contraction began to increase at the concentration of $1{\times}10^{-4}M$ verapamil. Whereas the contraction by NE was completely blocked by verapamil. Though both the $(PGF_{2{\alpha}})$ and NE induced the contraction in the $Ca^{2+}-free$ Tyrode's solution, the peak tension was not maintained. But the rate of tension decline was lower in the contraction by $(PGF_{2{\alpha}})$ than in that by NE. The verapamil did not inhibit the contraction by $(PGF_{2{\alpha}})$ in the $Ca^{2+}-free$ Tyrode's solution and increased the contraction at the concentration of above $1{\times}10^{-4}M$. The NE-induced contraction in the $Ca^{2+}-free$ Tyrode's solution was inhibited completely by a verapamil. From the above results it is suggested that the contraction induced by $(PGF_{2{\alpha}})$ results from the promotion of the both $Ca^{2+}$ influx and the intracellular $Ca^{2+}$ release by different way from NE.

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The design of 111m high steel towers with 220kv double circuits crossing 12 km wide Bangladesh River (230KV 2회선승 111M 높이 철탑설계 (I) (강폭 12km인 Bangladesh Jamana강 횡단용))

  • 이재숙
    • Journal of the Korean Professional Engineers Association
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    • v.15 no.4
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    • pp.12-24
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    • 1982
  • East Parts of Bangladesh have been benifited by low cost energy generated by domestic natural gas but West parts where energy generated by imported fuel. Bangladesh Government authority has very much concerned to transmit the low cost electricity to the West from the East for past several years. To solve such concerns, cross-country 230kv double circuits Power transmission line was proposed, however there was a big obstacle for the realization of this line to cross the Jamuna river which has 12 km long width with a deep muddy river bed. A consultant engineering firm named Merz-Mclellan anyway finalized this plan and a world-wide bid was announced on June 31, 1979. Due to the expected difficulty to construct the towers on sea like area, only three construction groups have participated. including a Korean joint venture organization of Samsung-Korean Developement corporation-Kolon Electric Machinery company. After 3 months bid evaluation, contract was awarded to Korean Consosium and KEM Co was in charge of designing steel towers with anchor bolts and base plates beside to electrical engineering field. Then KEM Co have faced and over-comed many unenpected technical difficulties such as forced eccentricity joint on base plate, distorsion issue of 60mm thick plates welding, threading anchor bolts, tad heat treatment of some anchor bolts, disagreement from Consultant Engineer on multiplying factor of leg stresses for 45$^{\circ}$ wind and on reducing O.L.F for wind loads on cables for such 1220km long spans. After spending two years long period for designing and engineering towers, base plates, and anchor bolts, first shipment of tower was finally realized on Nov. 8, 1981 and on the other hand KDD has proceeded concrete caisson work on schedule at Jamuna river site and expected to complete tower erection and stringing of cables within this year of 1982 which was original completion target.

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Effect of Baclofen on the Cholinergic Nerve Stimulation in Isolated Rat Detrusor (흰쥐의 적출배뇨근에서 baclofen의 콜린성신경 억제작용)

  • Lee, Kwang-Youn;Lee, Keun-Mi;Choi, Eun-Mee;Choi, Hyoung-Chul;Ha, Jeoung-Hee;Kim, Won-Joon
    • Journal of Yeungnam Medical Science
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    • v.12 no.2
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    • pp.246-259
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    • 1995
  • This study aimed to investigate the mechanism of action of baclofen on the detrusor muscle isolated from rat. Rats (Sprague-Dawley) were sacrificed by decapitation and exsanguination. Horizontal muscle strips of $2mm{\times}15mm$ were prepared for isometric myography in isolated muscle chamber bubbled with 95% / 5%-$O_2$ / $CO_2$ at $37^{\circ}C$, and the pH was maintained at 7.4. Detrusor strips contracted responding to the electrical field stimulation (EFS) by 2 Hz, 20 msec, monophasic square wave of 60 VDC. The initial peak of EFS-Induced contraction was tended to be suppresed by ${\alpha},{\beta}$-methylene-adenosine 5'-triphosphate (mATP), a partial agonist of purinergic receptor, and baclofen, a $GABA_B$ receptor agonist (statistically nonsignificant). The late sustained contraction by EFS was suppressed significantly (p < 0.05) by additions of atropione, a cholinergic muscarinic receptor antagonist and baclofen. The adenosine 5'-triphosphate-induced contraction was completely abolished by mA TP but not by baclofen. In the presence of atropine, the subsequent addition of acetylcholine could not contract the muscle strips: but the addition of acetylcholine in the presence of baclofen evoked a contraction to a remarkable extent. These results suggest that in the condition of present study, the cholinergic innervation may play a more important role than the purinergic one, and baclofen suppresses the contractility of rat detrusor by the stimulation of the $GABA_B$ receptors to inhibit the release of neurotransmitter from the cholinergic nerve ending.

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