• Korean Journal of Agricultural Science
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• v.31 no.2
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• pp.135-148
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• 2004

Rice is not only main food but also key farm income source of Korean farmers. In spite of the above facts, rice productivity was decreased on account of drought in every 2 or 3 years interval owing to the vulnerability of irrigation facilities throughout Korea in the past decades. As an context of the first five year economic development plan, all weather farming programme including 4 big river basin comprehensive development projects and large and medium sized irrigation water development projects were carried out successfully. Therefore the area of irrigated paddy were increased from 58% in 1970 to 76.2% in 1999. In the past decades, the Government had invested heavy financial funds to develop irrigation water but as an factor share analysis, the contribution rates of irrigation water and investment for farmland base development project have not been identified yet in national agricultural economic level. It is very scarce to find out the papers concerned to macro-economic factor share analysis or contribution rates of water and investment cost to rice production value in Korea considering the production function of the quantity of irrigation water and investment cost as independent variables. Accordingly this paper covered and aimed at identifying (1) derivation of rice production function with the time serial data from 1965 to 1999 and the contribution rates of irrigation water and total investment cost for farmland base development project. The analytical model of the contribution rates was adapted the famous Cobb-Douglass production function. According to the model analysis, the contribution rate of irrigation water to rice production in Korea was shown 37.8% which was equivalent to 0.28 of the production elasticity of water. The contribution rate of farmland base development project cost was revealed 22% and direct production cost of rice was contributed 60% in the growth of rice production and farm mechanization costs contributed to 18% of it respectively. The two contribution rates comparing with the direct production cost were small but without irrigation water and farmland base development, application of high-pay off inputs and farm mechanization might be impossible. Considering the food security and to cope with the frequent drought, rice farming and investment for the irrigation water development should be continued even in WTO system.

• Journal of Korean Society of Rural Planning
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• v.26 no.4
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• pp.67-79
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• 2020

As globalization, international cooperation has grown in importance. In accordance with this trend, Korea has been receiving high demands from international organizations about expanding the scale of Official Development Assistance(ODA) in line with its improved national status. In addition, in the economic aspect of Korea, the ODA project is expected to provide new growth opportunities in the mid- to long-term by promoting cooperation with developing countries. Uganda is an area with high strategic value due to good agricultural conditions and favorable geographical conditions. The poultry industry is a business that is generally carried out to the Ugandan, but due to economic problems such as initial investment cost, most of them have raised poultry on a small scale which is not enough for main income. This paper proposes the construction and operation plan of adapting to small poultry farms in the village-intensive type to sustainable income for residents in Uganda through ODA project in Korea's agricultural technology. The economic feasibility was analyzed from the long-term perspective when the initial construction cost was supported or not and the poultry species ratio was adjusted in terms of initial and operating costs. Economic analysis was performed using Net Present Value(NPV) method. As of after 10 years, when operating in the form of shifting kuroiler to layers, it was estimated to earn about 700,000 ugx more than when only kuroiler is raised, and it is able to reduce about 14 million ugx from the initial cost than when only raising layers. As of 20 years, the most profitables scenario was the breeding of 100 kuroilers and 400 layers methods. however, this case was anlayzed to be unsuitable for Uganda farmers, with initial costs more than three times higher than the shifting method of the kuroiler to layers. If the initial construction cost is supported by ODA project, the initial investment cost can be recovered in the first year with the shifting method, whereas raising only layers take two years to recoup the cost. In the meantime, when studying livestock industry in Uganda, it was examined by relying on statistical data, but this paper is meaningful in that it predicted how much it is economically effective based on field experience.

• Journal of Information Technology Services
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• v.8 no.2
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• pp.43-70
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• 2009

As software development and maintenance cost increase quickly, information systems managers are more concerned about how to effectively manage software cost. To estimate the software development cost, most public institutes of Korea use the software cost estimation standard established by the government. Unfortunately, the accuracy of the estimation derived from the standard has not been satisfactory in spite of repetitive modifications made to improve it. One of the major reasons for the inaccuracy is that the standard has too small a number of cost adjustment factors to reflect the various characteristics of a software development project. To remedy this problem, we propose new cost adjustment factors which can be incorporated into the standard and are important to enhance the estimation accuracy, based on the analysis of several well-known software estimation models. Furthermore, by applying the proposed model to real world software projects, we show that the proposed model can produce more accurate estimates than the current standard.

• Journal of the Korea Institute of Building Construction
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• v.8 no.4
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• pp.53-59
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• 2008

Cost estimates are very important to their decision-making in the early stages of a construction project. So Clients have wanted not only to know the results of conceptual cost estimates but also to assess their quality Conceptual cost estimates process is very complex process, so the results of cost estimates are influenced by various factors. So the purpose of this study is to reveal the key factors which influence the reliability of conceptual cost estimates in building construction projects. The analytic hierarchy process is used to determine the relative important weights of elements influencing the conceptual cost estimates. And factor analysis is used to reveal the key factors from the elements that influence the conceptual cost estimates. The results showed that the key factors is an experience level, available data level, level of will for winning the bid, difficulty level of conceptual cost estimate, uncertainty level.

• Journal of the military operations research society of Korea
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• v.25 no.2
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• pp.44-61
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• 1999

Cost estimation has posed a significant challenge to estimators, planners, and managers in both government and military. Considerable historical evidence shows that accurate cost estimation has been difficult to achieve across a wide range of projects, including weapon systems. This paper introduces new cost estimating concept, CAIV(Cost As an Independent Variable) and a cost estimating case study using PRICE model, computer aided parametric estimating models(CAPE) for K1 tank cost estimate. CAIV concept is to set realistic but aggressive cost objectives easily in each acquisition program and to achieve cost, schedule, and performance objectives considering various managing risks with a project manager and industry teams. The Price model is one of computer aided cost estimating models and widely used in U.S. defense system analysis as a tool for CAIV. We analyze theories, inputs, outputs of the PRICE model and present a case study for K1 tank to estimate costs in requirement and concept phase, program and budgeting phase, and life cycle phase. Finally we obtain results that the Price model can be used in various phases of PPBEES depending upon available data and time.

• Journal of Animal Environmental Science
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• v.3 no.1
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• pp.49-56
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• 1997

Most of Korean broiler farms are constructed with vinyl houses. Such types of broiler farms might be cheaper in terms of cost, but poor in terms of environment condition. According to enlargement of broiler farm size, high value production systems or automatic facilities are introduced in this field. However, investment may not always guarantee the profit of the management. Therefore, it is necessary to undertake the investment analysis before decision making for the investment. Under the assumption that 870 Pyoung(≒$3.3㎡) of a broiler farm within 1,740 Pyoung(≒3.3㎡) of land is built with the producing capacity of 50,000 heads of chicken in a time. The total investment is calculated to be 600 million won(1,000 won≒$1.1), and out of them 58.1% is provided by the owner, 31.6% from the government loan, 5.8% from government subsidy, and 5.3% from other agencies or banks. The expected profit of the broiler farm is 64.6 million won(1,000 won≒$1.1) per year. The IRR calculated is 0.0808 which means that the rate to profit of this project would be 8.1%. This also means that for this investment the interest rate of the capital provided should be less than 8.1% per year. Considering that the current opportunity cost of the own capital is 8.5% this project is not so attractive for those who is going to build broiler farms mainly with their own capital. In other words this project would not be profitable, unless the average interest rate of the loans provided for this project is less than 8.1% per year.

• Korean Journal of Construction Engineering and Management
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• v.10 no.1
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• pp.69-77
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• 2009

Recently, a research of the urban regeneration has been performed very actively. This is one of the efforts to resolve various social and economic problems coming from the existing deteriorated building and facilities by new urban development or redevelopment. However, an urban regeneration has a characteristic to be unable to ensure the project performance due to the exposed numerous risks coming from the various and complex stake-holders, and its mega sizes. This paper proposes the method of risk performance index in order to improve an efficiency of performance measurement expanding to the risk view point from the existing integrated cost/schedule performance measurement. A risk performance index is compatible with the existing EVMS, and can make the performance measurement in 3 dimensions of the integrated cost/schedule/risk with 18 sub-indexes and variables.

• Journal of Hydrogen and New Energy
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• v.25 no.2
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• pp.173-182
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• 2014

Dimethyl ether (DME) is a new clean fuel as an environmentally-being energy resources. DME has similar characteristics to those of LPG and can be substituted Diesel fuel. KOGAS has investigated and developed new innovative DME synthesis process from synthesis gas with KOGAS's own technologies. KOGAS had finished the construction of 10ton/day DME demonstration plant in 2008, we have established the basic design of commercial plant which can produce 3,000ton/day DME. Specifically, an economic model for a commercial DME project will be presented. It accounts for all the major cost factors that are considered in a commercial scale project as the model input for performing cash flow analysis, after which key economic indicators are produced including the internal rate of return (IRR), net present value (NPV). Sensitivity analysis is performed to identify dominant cost factors to the project economics and quantify their impact. The inputs to the economic analysis will be based on representative cost factors from the commercial-scale design of KOGAS' direct DME process supplemented by literature data. Case study results will be presented based on recent commercialization projects.

• Journal of Korea Technology Innovation Society
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• v.21 no.4
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• pp.1345-1365
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• 2018

Following principal-agent relationship between government and funding agency effects on efficiency and management of project, this paper suppose that project management cost rate variable on outsourcing and administration of institution, applies multiple regression analysis and logit analysis by using factors that procurement status of institutional operating expenses and each subordinates scale (Budget, subject number) and method (Top-down/Bottom-up), not a total amount, for examining factors following project efficiency analysis and way of commission. The major variables which effect on efficiency of institution are management cost scale (0.36), institutional operating expenses ratio (-0.47), way of outsourcing, the factors that affect way of outsourcing are portion of project management cost (-38.5) and institutional operating expenses rate (-11.7). This means both legal and financial stability are necessary and it is avoidable moral hazard and adverse selection on principal-agent problem.

• Journal of the Korean Society of Surveying, Geodesy, Photogrammetry and Cartography
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• v.31 no.1
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• pp.79-87
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• 2013

This study proposed a method to analyze the economic benefit of the national map revision program using the replacement cost method. The replacement cost method measures the benefit of a project as the minimum cost to replace functions of the project with those of alternative goods or services in an existing market. Thus, the demands on 1/5,000 topographic map revision in 18 administrative tasks such as city and district management planning were surveyed in three local autonomous entities. Then the cost to alternatively fulfill the demands was estimated with the standard construction estimating system for the field surveying and surveying results in commercial GIS companies for the site investigation. With this cost estimation model, the benefit of the current national map revision program to the local autonomous entities was estimated as 265,960,999 won. And cost benefit ratios according to several revision frequencies from 0.5 to 4 year were also compared to find the optimal frequency.