• Journal of Korea Technology Innovation Society
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• v.21 no.1
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• pp.130-150
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• 2018

Technology valuation refers to the act, procedures, or techniques in evaluating certain technology and its value for commercialization. For this purpose, deadlines and process plans are established based on valuation goals such as technology transfer, investment and financing, investment in kind, and strategy establishment. The technology valuation process involves analyzing and evaluating technology performance, rights, marketability, and business value technology, as well as calculating the monetary value of technology modules based on the results. Analysis and evaluation of each module is performed by a team of experts having knowledge of specific technology. Valuation of technologies is conducted as independent projects by project managers (PM) who integrate and manage modules; they must have expertise in systematic performance of task support and management to ensure objectivity and reliability. Furthermore, the valuation team comprises expert stakeholders having knowledge about each module due to the nature of technology valuation. For smooth knowledge sharing in technology and valuation procedures, communication skills and roles of PMs supporting and managing the valuation are important. Primarily, PMs must resolve conflicts between evaluators participating in different tasks, evaluators and evaluatees, and technology holders and receivers. This study examines technology valuation for four conflicts occurring frequently among stakeholders providing valuation support to PMs, and seeks resolutions. The conflicts and resolutions discussed in this study may lead to more specialized roles of PMs in technology valuation and project management, as well as systemized valuation support and management plans.

• International conference on construction engineering and project management
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• 2015.10a
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• pp.691-692
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• 2015

Several scholars in South Korea have predicted that maintenance costs of social infrastructure will sharply increase from the mid-2020s, and cause budgetary deficits among facilities management agencies. Interest in infrastructure asset management (IAM) is rising as a solution to such problem. In this study, an information system for asset valuation that reflects the salvage value and deferred cost of social infrastructure based on WBS (work breakdown structure) was developed in consideration of IAM. To reuse the construction cost information such as the acquisition cost, the interconnection between CBS (cost breakdown structure) and WBS was considered. Furthermore, asset valuation information was developed with XML schema to facilitate the exchange and reuse of the information among project participants.

• Journal of Korean Institute of Industrial Engineers
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• v.40 no.2
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• pp.195-204
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• 2014

The transition from fossil to renewable energy is inevitable due to fossil depletion. So, Renewable energy is very important for energy security and economic growth although it's R&D is long-term and high risky project. We propose new valuation method which combined system dynamics and compound real option method for long-term and high risk projects such as renewable energy. This method can show dynamic valuation results for the complex causal interaction and be easy for Monte-Carlo simulation to estimate volatility. And it can reflect the value of flexible decision for uncertainty. We applied the empirical analysis for Korea's photovoltaic industry by using this method. As results by empirical analysis, photovoltaic's R&D has high valuation using this method compared by traditional valuation methods such as DCF.

• Industrial Engineering and Management Systems
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• v.6 no.1
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• pp.49-54
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• 2007

This study deals with technology planning-based management for Basic R&D Programs of government supported research institutes (GRIs). The Korean Research Council for Industrial Science and Technology which consists of major GRIs needs to implement new government policies which focus on the dissemination of R&D outcome, collaborative research, and performance-oriented R&D investment. The major characteristics of technology planning-based management include the hierarchy of market-oriented technology plans and the valuation of core technologies. We also suggest technology classifications and project network diagrams.

• Journal of Korean Institute of Industrial Engineers
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• v.41 no.2
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• pp.150-161
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• 2015

This paper proposes a new approach to technology valuation, the market-replacement cost approach which integrates the cost-based approach and market-based approach. The proposed approach estimates the market-replacement cost of a target technology using R&D costs of similar R&D projects previously conducted. Similar R&D projects are extracted from project database based on document similarity between project proposals and technology description of the target technology. R&D costs of similar R&D projects are adjusted by mirroring the rate of technological obsolescence and inflation. Market-replacement cost of the technology is then derived by calculating the weighted average of adjusted costs and similarity values of similar R&D projects. A case of "Prevention method and system for the diffusion of mobile malicious code" is presented to illustrate the proposed approach.

• Journal of Korea Technology Innovation Society
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• v.16 no.1
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• pp.20-40
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• 2013

A project of developing marine environmental risk assesment and management technology was proposed to improve the level of marine environmental management research. This paper attempts to measure the non-market benefits of the project. To this end, the dichotomous choice contingent valuation method is used. In particular, recently proposed one and one-half bounded model is applied. The model can reduce the potential for response bias comparing to the double bounded model while maintaining much of its efficiency. Moreover, in order to deal with zero WTP observations, a spike model is adjusted for our data. A survey of randomly selected 600 households was implemented and the respondents were asked in person-to-person interviews about how they would be willing to pay for implementing the project. Respondents overall accepted the contingent market and were willing to contribute a significant amount (2,663 won), on average, per household per year. The aggregate value of the project in the nation amounts to approximately 46.3 billion won per year. The figure 2.16 of cost-benefit ratio shows that economic validity of this technical development.

• Journal of Digital Convergence
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• v.12 no.11
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• pp.81-87
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• 2014

In this study, along with the expansion of the national R&D projects, by analyzing the case of K research center of Land and Transport R&D projects, and was evaluated in the value of technology. The evaluation of the value of technology, were analyzed using the SMART3 targeting patents K research center indicate best technical aspects have registered. Analysis technical value of research center K, was found to have maintained the same level as the average of about of Land and Transport R&D projects. The significance of this study is that it was approached by more concrete approach of valuation of technology principle of national R&D projects. We expect that the study of evaluation method and diverse objective to achieve the intended purpose of the national R&D projects are carried out more.

• Journal of Technology Innovation
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• v.14 no.3
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• pp.237-261
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• 2006

Under circumstances with increasing uncertainty, strategic flexibility has become an essential point on which my R&D management system should be based. Unfortunately the present R&D management system for government sponsored R&D programs cannot be said to be so flexible to adapt appropriately to various threatens such as technological failure, a severe change in competition environment, and so on. In this paper a new scheme for R&D planning and economic assessment with strategic flexibility is suggested and applied to a real R&D program. In the newly suggested R&D management system, economic valuation based on real option theory is performed for various alternative scenarios which have different strategic scheme for R&D process each and the result of the assessment is fed back to R&D planning to choose more superior strategic scheme. Introducing strategic flexibility into R&D planning and economic assessment, the value of R&D project could be remarkably enhanced.

• Journal of Korea Technology Innovation Society
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• v.7 no.3
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• pp.657-679
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• 2004

The purpose of this paper is to measure economic impact of marine environment conservation research development project. Benefit-Cost(B/C) analysis and Contingent Valuation Methods(CVM) are used to valuate the benefits from the research development projects. A period of three years for research development fund is considered as a part of the costs and adjusted to the net present value (NPV) of the 2002 ending period. The environmental charges for marine environment improvement are considered for the benefit measurement. The benefits are estimated by using monthly average willingness to pay, which is 2,289 Korean won. The contribution of the developing a management model for environmental pollution in the Gwangyang Bay is evaluated utilizing survey data and information. Based on the assessment by expert groups, the contribution of the model was 37.5％. The research results showed that B/C ratio is 20.61, NPV is 89,200 million Korean won, and social rate of return is 185.7％. When the level of contribution is over 1.83％ at the assessment of potential influence, it is recognized to be economically feasible. This research presents a quantitative framework for Research and Development projects for marine environment conservation, and it can be applied to decision making for the investment size of R&D projects.

• Journal of Information Technology Services
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• v.6 no.3
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• pp.87-110
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• 2007

Recently, researches on IT Service Management (ITSM) for improving information system operation service and information system outsourcing cost estimation model are proliferating. This study suggests a new cost model of IT operation service and optimizing method based upon the characteristics of operation service as a long-term and continuous business service for both user's and service provider's point of view. This study explains the cost optimization model of IT operation service by improving service request management process, such as adequate reception and control, proper valuation, process management using project management methodology, effective organization and time management of service personnel. Especially in this study, service ability improvement effect and fixed operation cost reduction effect are defined to prove the proposed new cost model.