• Korean Journal of Construction Engineering and Management
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• v.11 no.1
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• pp.113-121
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• 2010

Since the cut-down of the purchasing price of the feed in tariff(FIT) in 2008, the numbers of photovoltaic projects get decreased, contrary to investment expansion policy of government on renewable energy. The root cause of the decrease is the irrationality of the current purchasing price structure of FIT as well as the adversity of fund raising due to the global financial crisis. This study proposes the FIT calculating model (Cost & Benefit Risk Based Purchase Price Process : CBRP3) reflecting the fluctuation of cost and benefit risks. The first step is to establish the photovoltaic generation alternatives, and to calculate each distribution data of the investment and the power generation quantity. The FIT for each alternative is, then, assessed through simulations. Finally the proposed FIT scheme is compared to the present FIT scheme and future study subjects are derived.

• Korean Journal of Construction Engineering and Management
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• v.6 no.4 s.26
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• pp.80-90
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• 2005

Activity durations retain probabilistic and stochastic natures due to diverse factors causing the delay or acceleration of activity completion. These natures make the final project duration to be a random variable. These factors are the major source of financial risk. Extending the Stochastic Project Scheduling Simulation system (SPSS) developed in previous research; this research presents a method to estimate how the final project duration behaves when activity durations change randomly. The final project cost is estimated by considering the fluctuation of indirect cost, which occurs due to the delay or acceleration of activity completion, along with direct cost assigned to an activity. The final project cost is estimated by considering how indirect cost behaves when activity duration change. The method quantifies the amount of contingency to cover the expected delay of project delivery. It is based on the quantitative analysis to obtain the descriptive statistics from the simulation outputs (final project durations). Existing deterministic scheduling method apply an arbitrary figures to the amount of delay contingency with uncertainty. However, the stochastic method developed in this research allows computing the amount of delay contingency with certainty and certain degree of confidence. An example project is used to illustrate the quantitative analysis method using simulation. When the statistical location and shape of probability distribution functions defining activity durations change, how the final project duration and cost behave are ascertained using automated sensitivity analysis method

• Journal of the Korea Institute of Building Construction
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• v.18 no.5
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• pp.499-506
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• 2018

The number of demolition work is rapidly increasing because the middle- and high-rised buildings constructed over the rapid industrialization and urbanization have been deteriorated in social and structural aspects. However, theoretical approaches or studies related to the demolition cost prediction are still insufficient. Thus, this study derived and analyzed important factors affecting the fluctuation of the building demolition costs. 14 factors was derived through literature reviews and experts' interview, and the importance of each factor was analyzed to the each work(temporary work, structure demolition, and waste disposal) and the entire demolition work by using descriptive analysis. The survey results showed that the demolition costs was greatly influenced by environmental properties of the site. The results of this study can be used as a basis for estimating the approximate cost of the demolition work.

• Journal of Korean Tunnelling and Underground Space Association
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• v.18 no.6
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• pp.581-591
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• 2016

Several attempts to construct multi-purpose tunnel for both road and waterway have been made. The multi-purpose tunnel is mainly used as a road tunnel, however it is transferred to waterway to control flood during rainy season. The planning of the multi-purpose tunnel is recognized as cost-effective way of infrastructure construction. In case of the multi-purpose tunnel constructed beneath groundwater table, seasonal fluctuation of groundwater table and repeated flow in the tunnel may cause long-term deterioration of the tunnel system. In this study, the behavior of multi-purpose tunnel in view of groundwater table or flow in the tunnel is investigated using model test and numerical modeling method. The results have shown that rising of groundwater table caused buoyant force to the tunnel and the fluctuation of rainwater in the tunnel generated loosening of surrounding ground. It is recommended to evaluate the effect of the long-term water pressure variation in the design of a multi-purpose tunnel.

• Tunnel and Underground Space
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• v.19 no.3
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• pp.167-173
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• 2009

Underground storage cavern is known as the most complicated underground project because of the complexity of construction schedule, tunnel size, and geological problems. In order to optimize the construction schedule of underground storage cavern, two up-to-date technologies were applied. The first technology was 3 dimensional visualization of complicated underground structures, and the second was 4 dimensional simulation considering construction resources, geological conditions and construction schedule. This application case shows that we can achieve optimized construction schedule in the ways to optimize the number of work teams, fleets, the sequence of tunnel excavation, the commencement time of excavation and the hauling route of materials and excavated rocks. 3 dimensional modeling can help designer being able to understand the status of complicated underground structures and to investigate the geological data in the exact 3 dimensional space. Moreover, using 4 dimensional simulation, designer is able to determine the bottle neck point which appear during hauling of excavated rocks and to investigate the daily fluctuation in cost.

• Korean Journal of Construction Engineering and Management
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• v.10 no.5
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• pp.95-103
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• 2009

The case of rivers facilities works, expense the standard unit cost for the quality and a rough public corporation expense estimating of the rivers public corporation which is fixed form with the information available which it follows basic design phase absently and possibility of fluctuation. It exists many difficulties in rough public corporation expense estimating. The rivers public corporation expense rough estimating method of existing produces does not exist the amount of material of representative section of the rivers dike and the rough public corporation expense estimating method which is systematic with the method which multiples the seniority (M). The research sees the rough public corporation expense predictive model from the planning stage which is not basic design to consider the quality of the rivers facility public corporation. From this study, it can prevent the waste of national budget from the general public corporation and is more accurate and public corporation expense production possibly.

• Korean Journal of Construction Engineering and Management
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• v.16 no.4
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• pp.70-79
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• 2015

With the rise of the interest in a renewable system, the importance of the Life Cycle Cost Analysis(LCCA), an economic evaluation tool, has been increasing. However, there is an inevitable gap between a real cost and an estimation from LCCA because of the uncertainty of the external environment in real world. As the input variables in an analysis, such as a real discount rate and an energy cost, ares subject to change as time goes by, strategic decision on the current operating system is made depending on the real cost. Current economic evaluation approaches have treated only the fluctuation of input variables without consideration of the flexibility in operation, which has consequently led to the impairment on the reliability of LCCA. Therefore, new approach needs to be proposed to consider both the uncertainty of input variables and operational flexibility. To address this issue, the application of the Real Option to LCCA is presented in this study. Through a case analysis of LCCA of a solar heating system, the limits and current status of LCCA are identified. As a result, quantitative presentation of strategic decisions has been added in the new approach to implement the traditional approach.

• Journal of the Korea Institute of Building Construction
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• v.11 no.1
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• pp.19-27
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• 2011

The capital of investment of SOC projects is too large to be taken charge of a country. The government introduces the private investment like a BTL project because of the limited national resources. However, even the company which wants order constructions, do not consider the fundamentals such as accurate estimation, capability of construction company and construction period. The purpose of the research is to suggest the basic influential factors for obtaining a BTL project and offers the concludes for the successful operation after the contract. The result of the research is followed. 54 effect successful factors are compressed into 11 principle factors by analysis on those 54 factors, CSFs of BTL business are constructed. Regression analysis is induced by variable of primary success factors and success degree, and derives the influence degree of effect successful factors in business. Regression analysis that is mentioned above showed considerable issues from importance of primary factors, prime cost fluctuation factors and comparison of management-level. So this study could suggest the effective operate plan of BTL business.

• Nuclear Engineering and Technology
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• v.8 no.2
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• pp.101-116
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• 1976

An attempt is made to analyze the unit nuclear power cost of the Go-ri units 1 and 2 in terms of a set of model data. For the calculational purpose, the power cost is first decomposed into the cost components related to the plant capital, operation and maintenance, working capital requirements, and fuel cycle operation. Then, POWERCO-50 computer code is applied to enumerate the first three components and MITCOST-II is used to evaluate the fuel cycle cost component. The specific numerical results are the fuel cycle cost of Go-ri unit 2 for three alternative fuel cycles presumed, levelized unit power cost of units 1 and 2, and the sensitivity of the power cost to the fluctuation of the model data. Upon comparision of the results with the power cost of the fossil power plants in Korea, it is found that the nuclear power is economically preferred to the fossil power. Nevertheless, the turnkey contract value of Go-ri unit 2 appears to be rather expensive compared with the available data on the construction cost of the PWR plants. Therefore, it is suggested that, in order to make the nuclear power plants more attractive in Korea, the unfavorable contract of such kind must be avoided in the future introduction of the nuclear power plant. Capacity factor is of prime importance to achieving the economic generation of the nuclear electricity from the Go-ri plant. Therefore, it is concluded that more efforts should be directed to make the maximum use of the Go-ri plant.

• Geomechanics and Engineering
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• v.20 no.6
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• pp.497-503
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• 2020

In the Kingdom of Saudi Arabia, the shallower depth of the earth's crust is composed of loose dune or beach sand with soluble salts. The expansive behavior of salt bearing soil, fluctuation of ground water table and extreme environmental conditions offer a variety of geotechnical problems affecting safety and serviceability of the infrastructure built on it. Despite spending money, time and other resources on repair and rehabilitation, no significant attention is paid to explore the root causes of excessive differential settlement and cracking to these facilities. The scientific solution required to ensure safety and serviceability of the constructed infrastructure is to improve the strength and durability properties of the supporting ground. In this study, shredded plastic is employed as a low cost and locally available additive to improve strength characteristics of the desert sand. The study shows a remarkable increase in the shear strength and normal settlement of the soil. A seven (07) degree increase in angle of internal friction is achieved by adding 0.4 percent of the shredded plastic additive. The effect of different proportions and sizes of the plastic strips is also investigated to obtain optimum values. Such a long-lived solution will seek to reduce maintenance and repair costs of the infrastructure facilities laid on problematic soil along with reduction of environmental pollutants.