• Journal of Navigation and Port Research
• /
• v.33 no.7
• /
• pp.469-476
• /
• 2009

Recent collapse of shipping market right after unprecedent surge clearly demonstrates that shipping industry is extremely risky. Due to the volatile movements of the freight rates, investors tend to ask higher rate of return; higher required return reduces the total net present value of the investment project. For several decades, the Discounted Cash Flow(DCF hereafter) analysis has been the most frequently used valuation technique. However, the main problem of the DCF analysis is its assumption that the discount rate would stay the same during the project life. In other words, it usually does not address the decisions that managers have after a project has been accepted. The purpose of this study is investigate a new valuation method of investment: the Real Option Analysis(ROA hereafter) on ship investment. By replacing the existing valuation methods with the new one, the research will present a new perspective on investment with uncertainty. While uncertainty increases risk of investment and consequently discounts the value of it in the traditional feasibility analysis, in the ROA, a new valuation method which will be addressed in the research, uncertainty means some additional value of flexibility so that the tool can help investors produce more accurate decisions. Contrary to the DCF analysis, the ROA takes managerial flexibilities into account. In reality, capital budgeting and project management is typically dynamic, rather than static in nature. The ROA finds and assesses the values of managerial flexibilities or real options in the investments. The main structures of the research will be as follows: (1) overview of the ship investment project, (2) evaluation of the project by the Net Present Value analysis, (3) evaluation of the same project by the Real Option Analysis, (4) comparision of the two techniques.

• Journal of Trauma and Injury
• /
• v.21 no.1
• /
• pp.8-14
• /
• 2008

Iatrogenic ureteral injury is a complication that can occur during a variety of pelvic or abdominal surgeries. The most frequent causes are gynecological ones, followed by colon and vascular surgeries. Management of ureteric injury depends on the time of diagnosis and the severity of organ damage. Injuries diagnosed intraoperatively should be treated immediately. Occasionally, intraoperative ureteral injury is overlooked, and symptoms of the late diagnosis of ureteral injury are usually nonspecific; therefore, the diagnosis is delayed for days or weeks postoperatively. Management of injuries diagnosed postoperatively is more complex. There are differing opinions on whether an initial conservative or immediate operative intervention is the best line of action. Delayed repair is suggested on the grounds that it will reduce inflammation and tissue edema. However, many authors are in favor of early repair, perhaps because tissue planes are easier to find before fibrosis becomes too dense. Ureteral injuries occurring at the level of the pelvic brim should be best managed with an end-to-end anastomosis, preferably around a ureteric stent. More distal injuries also should be ideally managed with an end-to-end anastomosis, after excision of the crushed or compromised segments. However, if the remaining distal segment is short, ureteral reimplantation is the procedure of choice. The Boari flap technique for ureteral reimplantation is invaluable in cases with a short proximal segment. Delayed recognition of iatrogenic ureteral injury may be associated with serious complications, so prompt recognition of ureteral injuries is important. Recognition of the injury before closure is the key to easy, successful, and complications-free repair. Increased awareness of the risk for ureteral damage during certain operative maneuvers is vital to prevent injury, and to decrease the incidence of iatrogenic injury. A sound knowledge of abdominal and pelvic anatomy is the best prevention.

• Journal of Korea Water Resources Association
• /
• v.54 no.3
• /
• pp.157-166
• /
• 2021

Forecasting dam inflow based on high reliability is required for efficient dam operation. In this study, deep learning technique, which is one of the data-driven methods and has been used in many fields of research, was manipulated to predict the dam inflow. The Long Short-Term Memory deep learning with Sequence-to-Sequence model (LSTM-s2s), which provides high performance in predicting time-series data, was applied for forecasting inflow of Soyang River dam. Various statistical metrics or evaluation indicators, including correlation coefficient (CC), Nash-Sutcliffe efficiency coefficient (NSE), percent bias (PBIAS), and error in peak value (PE), were used to evaluate the predictive performance of the model. The result of this study presented that the LSTM-s2s model showed high accuracy in the prediction of dam inflow and also provided good performance for runoff event based runoff prediction. It was found that the deep learning based approach could be used for efficient dam operation for water resource management during wet and dry seasons.

• Proceedings of the Korea Water Resources Association Conference
• /
• 2020.06a
• /
• pp.85-85
• /
• 2020

South Korea experiences few large scale erosion and sedimentation problems, however, there are numerous local sedimentation problems. A reliable and consistent approach to modelling and management for sediment processes are desirable in the country. In this study, field measurements of sediment concentration from 34 alluvial river basins in South Korea were used with the Modified Einstein Procedure (MEP) to determine the total sediment load at the sampling locations. And then the Flow Duration-Sediment Rating Curve (FD-SRC) method was used to estimate the specific degradation for all gauging stations. The specific degradation of most rivers were found to be typically 50-300 tons/㎢·yr. A model tree data mining technique was applied to develop a model for the specific degradation based on various watershed characteristics of each watershed from GIS analysis. The meaningful parameters are: 1) elevation at the middle relative area of the hypsometric curve [m], 2) percentage of wetland and water [%], 3) percentage of urbanized area [%], and 4) Main stream length [km]. The Root Mean Square Error (RMSE) of existing models is in excess of 1,250 tons/㎢·yr and the RMSE of the proposed model with 6 additional validations decreased to 65 tons/㎢·yr. Erosion loss maps from the Revised Universal Soil Loss Equation (RUSLE), satellite images, and aerial photographs were used to delineate the geospatial features affecting erosion and sedimentation. The results of the geospatial analysis clearly shows that the high risk erosion area (hill slopes and construction sites at urbanized area) and sedimentation features (wetlands and agricultural reservoirs). The result of physiographical analysis also indicates that the watershed morphometric characteristic well explain the sediment transport. Sustainable management with the data mining methodologies and geospatial analysis could be helpful to solve various erosion and sedimentation problems under different conditions.

• KSCE Journal of Civil and Environmental Engineering Research
• /
• v.30 no.2D
• /
• pp.191-198
• /
• 2010

The displacement of slope is a key factor in predicting the risk of a landslide. Therefore, the slope displacement should be continuously observed with high accuracy. Recently, high-tech equipment such as optical fiber sensor, GPS, total station and measuring instrument have been used. However, such equipment is poorly used in fields due to economics, environment, convenience and management. Because of this, development of substantial observational techniques for varied slope observation and field applications is needed. This study analyzed the possibility of terrestrial LiDAR for slope monitoring and suggested it as information-obtaining technique for slope investigation and management. For that, this study evaluated the monitoring accuracy of terrestrial LiDAR and performed GRID analysis to read the displacement area with the naked eye. In addition, it suggested a methodology for slope monitoring.

• Korea Journal of Hospital Management
• /
• v.12 no.1
• /
• pp.1-30
• /
• 2007

The study carried out a survey with employees of hospitals located in Daejeon, Chungnam, and Chungbuk from Sep. 12 to Sep. 30, 2005 in order to derive primary elements that affect the improvement of hospital's competitiveness. The study investigated and analyzed the employees' recognition on the change of competitive environment caused by the change of medical environment. The study also analyzed the elements that affect the hospital's competitiveness and the competitive strategies of the hospitals. The conclusion of this study can be summarized as follows. 1. Summary 1) Most of the employees responded that there is a rival in the competitive environment and the competitive is intense. Especially when the employees are married, live in urban areas, have an education level of university graduate or are managers, they tend to think the competitive is very intense. Also, they said that the competitive is based upon the quality of medical service. They mentioned the element that has the biggest effect on the competitiveness is the element of medical consumer and they recognized that the medical services in university and general hospitals have more competitiveness than the one-department hospitals. 2) It was investigated that the medical technique service has the most effect on the hospital's competitiveness. Also, the external service of medical techniques also has a large effect on the hospital's competitiveness. 3) When they were asked for the factors that affect the patients' decision on selecting a hospital, most of them responded "capability and technique of the medical staffs." Also, they said that "sufficient explanation from doctors" and "special center and clinic" are the factors that have big effects on the patients' decision. 4) In the SWOT analysis, most of them responded that the strength is the hospital's characteristics and the weakness is insufficient and obsolete equipment. They said the opportunity is the demands for professional medical service and the risk is the intense competitive among the hospitals. 5) In the SWOT strategy, they emphasized the strategy that uses the opportunity and the strength and the strategy that uses the opportunity while overcoming the weakness. 6) As for the basic competition strategy, most of them thought of the strategy of professionalizing the medical service most importantly. Next, they focused on the strategy of distinct service and the strategy of lower prime cost. 2. Conclusion 1) Because service competition between hospitals is happening seriously, need competitiveness security through right awareness transfer and satisfaction upgrade about medical consumer. 2) For medical technique service upgrade that equip Hospital's competitiveness but affects most, must solidify the countermeasure because professionalizing the medical service and newest medical technique induction should be achieved first, and compose task force for the external service of medical techniques improvement. 3) To improve SWOT of hospital, opportunity and the strength strategy choice that rescue hospital's characteristics heightening professionalizing the medical service level is fancied. 4) As for the basic competition strategy, will have to try in phase triangular position of hospital which is trusted medical level upgrade and excellent manpower security and finance independence through upgrade. The study was only done with hospitals in Daejeon, Chungnam and Chungbuk. Also, it is a study from the side of suppliers of medical service so there are limitations. However, the significance of the study is to present the basic data for improvement of hospital's competitiveness by examining the importance of medical techniques and external service of medical techniques that are the main effects on the improvement of hospital's competitiveness.

• Journal of the Korea Academia-Industrial cooperation Society
• /
• v.18 no.7
• /
• pp.1-8
• /
• 2017

As the IT environment becomes more sophisticated, various threats and their associated serious risks are increasing. Threats such as DDoS attacks, malware, worms, and APT attacks can be a very serious risk to enterprises and must be efficiently managed in a timely manner. Therefore, the government has designated the important system as the main information communication infrastructure in consideration of the impact on the national security and the economic society according to the 'Information and Communication Infrastructure Protection Act', which, in particular, protects the main information communication infrastructure from cyber infringement. In addition, it conducts management supervision such as analysis and evaluation of vulnerability, establishment of protection measures, implementation of protection measures, and distribution of technology guides. Even now, security consulting is proceeding on the basis of 'Guidance for Evaluation of Technical Vulnerability Analysis of Major IT Infrastructure Facilities'. There are neglected inspection items in the applied items, and the vulnerability of APT attack, malicious code, and risk are present issues that are neglected. In order to eliminate the actual security risk, the security manager has arranged the inspection and ordered the special company. In other words, it is difficult to check against current hacking or vulnerability through current system vulnerability checking method. In this paper, we propose an efficient method for extracting diagnostic data regarding the necessity of upgrading system vulnerability check, a check item that does not reflect recent trends, a technical check case for latest intrusion technique, a related study on security threats and requirements. Based on this, we investigate the security vulnerability management system and vulnerability list of domestic and foreign countries, propose effective security vulnerability management system, and propose further study to improve overseas vulnerability diagnosis items so that they can be related to domestic vulnerability items.

• Journal of the Korea Academia-Industrial cooperation Society
• /
• v.19 no.9
• /
• pp.50-61
• /
• 2018

A precedent defense project study was carried out in the early stage of the project to support efficient determination of the acquisition method of the determined weapons system. A precedent study in the early stage of the project has been neglected, but lack of performance and increased costs are continuing problems. In a precedent study on a number of items within a limited time frame, expected risks during project implementation were not identified and reduced by failing to review the key review element in depth. Therefore, in this paper, we studied the application of the FTA/FMEA technique used in the system safety analysis process to identify key factors to be considered when carrying out the defense research project. The methodology for the development of the key review items was established through the improvement of the FTA/FMEA technique in order to meet specific conditions and given conditions. Based on the results of this study, we redefined core key factors in the precedent study stage, thereby eliminating unnecessary and anticipated risks that may arise in the future project management aspects of the defense project. It is anticipated that this will reduce costs and time in terms of the lifecycle of the weapon system and promote stable operation of the project through reduction of risk.

• Journal of the Society of Naval Architects of Korea
• /
• v.39 no.3
• /
• pp.75-80
• /
• 2002

In these days of severe struggle for existence, the world has changed a great deal to global and digital oriented period. The enterprises try to introduce new management and production system to adapt such a change. But, if the only new technologies are applied to an enterprise without definite analysis about manufacturing, failure fellows as a logical consequence. Hence, enterprise must analyze manufacturing system definitely and needs new methodologies to mitigate risk. This study suggests that the new approach, which is systems approach for process improvement, is organized to systems analysis, systems diagnosis, and systems verification. Systems analysis analyzes manufacturing systems with object-oriented methodology-UML(Unified Modeling language) from a point of product, process, and resource view. Systems diagnosis identifies the constraints to optimize the system through scientific management or TOC(Theory of constraints). Systems verification shows the solution with virtual manufacturing technique applied to the core problem which emerged from systems diagnosis. This research shows the artifacts to improve the productivity with the above methodology applied to forming shop. UML provides the definite tool for analysis and re-usability to adapt itself to environment easily. The logical tree of TOC represents logical tool to optimize the forming shop. Discrete event simulator-QUEST suggests the tool for making a decision to verify the optimized forming shop.

• KSCE Journal of Civil and Environmental Engineering Research
• /
• v.28 no.3B
• /
• pp.283-296
• /
• 2008

The Urban Stream Assessment Technique (USAT) was suggested to give information about present urban stream condition. Domestic and foreign stream evaluation methods were analyzed and some streams were previously investigated to decide evaluation factors that could evaluate stream condition and have concern with characteristics and flood control of urban stream. The USAT consisted of three steps. High step has three characteristics concerned with functions of stream such as flood risk, stream, and ecology. In middle step, three characteristics were subdivided by ten features to describe changes and degradations of urban stream. Low step consisted of fifty three factors that explain the present condition of ten features. A survey of river experts was conducted to reflect weight among characteristics and features. The weights were calculated by analytic hierarchy process(AHP). The USAT was carried out to check over application of that in Suwon, Anyang, and Joongrang stream. The results of stream evaluation were expressed by factor index, feature index, characteristic index, total index, and evaluation grade. The results of the USAT were useful to realize changed and degraded areas. It is expected that the USAT can be used as base investigation for restoring and managing urban streams.