• Journal of Korean Society of Industrial and Systems Engineering
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• v.39 no.1
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• pp.17-24
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• 2016

Many organizations have transformed their business in order to survive and compete in the future. They generate projects by creating a vision, using strategies and objectives with funds aligning strategies and make efforts to complete them successfully because project success leads to business success. All projects have triple constraints such as scope, time, and cost to be completed. Project cost performance is a key factor to achieve project goals and which is mostly related with risks among various cost drivers. Projects require a cost estimation method to complete them within their budget and on time. An accurate budget cannot be estimated due to the uncertainties and risks. Thus some additional money should be funded in addition to the base budget as a contingency reserve for identified risks and a management reserve for unidentified risks. While research on contingency reserve for identified risks included in project budget baseline have been presented, research on management reserve for unidentified risks included in total project budget is still scarce. The lack of research on estimation method and role of the management reserve have made project managers little confidence to estimate project budget accurately with reasonable basis. This study proposes a practical model to estimate budgets including contingency and management reserves for not only project cost management but also to keep the balance of organization's total funds to maximize return on investments for project portfolio management. The advantages of the proposed model are demonstrated by its application to construction projects in Korea and the processes to apply this model for verification are also provided.

• International Area Studies Review
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• v.18 no.3
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• pp.3-21
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• 2014

The OECD DAC has recommended the member countries to raise the ODA budget by 0.7% of GNI. Most of DAC's members, howver, have not reached at the target level, mainly due to global economic crisis, with some exceptions in Northern Europe countries. Korea has increased the ODA budget allocation dramatically, but she could not still meet even the level 0.3%, which is the average level of DAC countries. In terms of national budget operation, DAC country groups are classified as the international norm type and the self-economic dependence type. And then, this study analyzes the time trends of the ODA budget in Korea, comparing with DAC's members on the economic scale. By forecasting Korean ODA budgets by country-type classifications, the optimal size of Korean government's ODA budget is proposed and discussed.

• Journal of the Korea Society for Simulation
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• v.3 no.2
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• pp.49-56
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• 1994

Performance measurement and analysis for computer systems has been studied for a long time. However, little attention has been focused on how to distribute a given budget to each part of a computer system for enhancing system performance maximally. In traditional approaches, performance enhancement is achieved by identifying a dominant system bottleneck and enhancing the bottleneck's performance. These approaches, however, often bring problems since the removal of a bottleneck may result in other bottlenecks. This paper proposes an approximated method for such budget distribution problem. For budget distribution, a critical set is defined. The set contains the servers of which performance changes affect the overall system performance significantly. Then, the given budget is distributed properly to every server in the critical set. To verify the proposed method, two benchmark experiments are carried out I SLAM environments. The experimental results show that the proposed method provides better results than the traditional method does in many cases.

• Journal of the Korean Society for Marine Environment & Energy
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• v.3 no.4
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• pp.76-90
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• 2000

The estimation of material cycle of pollutants is necessary for the environment management in coastal zone. Model for material budgets are useful tools to understand the phenomena of natural system and to provide an insight into the complex processes including physical, chemical and biological processes occuring in natural system. Budgets of fresh water, salt and nutrients were estimated in order to clarify the characteristics of seasonal material cycle in Keum river estuary. Inflow volumes of freshwater into system was approximately 1.014×10/sup 8/～12.565×10/sup 8/m³/month and discharge in Keum river has occupied 99.7% of total freshwater. Seasonal variations of freshwater volume in the system were found to be very high in the range of about 4 ～ 14 times due to rainfall in summer season. Existing water mass of freshwater in system calculated by salt budget was approximately 0.339×10/sup 8/～0.652×10/sup 8/m³. Mean residence time of freshwater was calculated to be about 1.6～10.0day, and exchange time was calculated to be about 2.2～11.9day. Mean residence time was short as 1.6day in summer due to precipitation, and long as 10.1day in winter due to a drought. Inflow masses of DIP and DIN were approximately 5.57～32.68ton/month and 234.93～2,373.39ton/month, respectively. Seasonal inflow mass of DIP was larger than the outflow mass except for summer season. Thus, we postulate that accumulation of DIP in the system will happen. Residence times of DIP and DIN were calculated to be 1.1～6.4day and 1.8～10.9day, respectively. The ratio of water residence time versus DIP, DIN residence time was calculated to be 0.39～2.31 times and 0.83～1.13 times, respectively.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.9
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• pp.251-261
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• 2020

The paper examines the role of some determinants of economics, politics and institutions on the budget deficit volatility in some countries of the Association of South East Asian Nations (ASEAN) such as Indonesia, Thailand and Vietnam. The paper uses the fixed effects model (FEM) and the random effects model (REM) to investigate panel data of these countries in the period of 1990-2018. Moreover, the study also explores ordinary least square (OLS) to analyze time-series data for each country in the same period to make comparison among them. The economic data is collected from international financial statistics and world development indicators. The data on political variables are collected from International Country Risk Data Guide (ICRG). The empirical results both confirm that corruption and political stability are important indicators of budget deficit. Besides, the paper suggests authorities should pay more attention on improving the institutional setup of the economy in order to avoid high and unstable deficit. The findings offer new insight on the budget deficit in essence and suggest that the most important thing need to be done ahead is to strongly implement anti-corruption actions. By doing so, the status of budget deficit would be remarkably improved immediately.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.8
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• pp.355-363
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• 2021

This study aims to obtain empirical evidence about the cognitive effect of Islamic religiosity and budget control in reducing budgetary slack behavior. This study involved 176 managers as respondents in 10 local companies in Eastern Indonesia. Managers who are respondents in thus study work and are spread across 14 provinces in Indonesia. Probability sampling method has been used for this study from the total population with certain criteria. Data analysis has been done using Warp PLS-SEM technique. The results showed that Islamic religiosity cognitive and budget control had a direct negative effect on budgetary slack behavior. The two variables also fully mediate the relationship between participatory budgeting and budget-based compensation schemes on the behavior of budgetary slack in a negative and significant way. These results mean that the two variables are proven to reduce budgetary slack behavior. This empirical evidence at the same time corrects the agency theory's assumptions about opportunistic human nature and always maximizes every potential economic profit. In addition, the results also show that Islamic religiosity cognitive is stronger in reducing budgetary slack behavior. These results can be used to improve the company's budget control system by incorporating elements that motivate religious goals so that it is more effective in reducing budgetary slack behavior.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.38 no.3
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• pp.457-465
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• 2018

This study proposes a novel approach to explore a "travel time budget (TTB)" using a mobile phone signaling data (MPSD), which are passively generated between a mobile phone and a base station. The data analyzied in this study were provided from KT for 8 days (from May 19 to 26 in 2016). They were about 45 million signals passively generated from users whose stay area during night was classified as three areas in Mapo-gu, Seoul and in the city of Sejong. The estmation of TTB was implemented with various pre-processing techniques on the MPSD data in a data-driven analysis. As a result, the TTBs of Mapo-gu, Seoul and Sejong were 82.94 and 80.70 minutes, respectively. The results in this study were also compared with those based on the traditional methods. The authors expect that this result will help transport experts improve the use of MPSD.

• Proceedings of the Korea Water Resources Association Conference
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• 2021.06a
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• pp.145-145
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• 2021

Water distribution networks (WDNs) are designed to satisfy water requirement of an urban community. One of the central issues in human history is providing sufficient quality and quantity of water through WDNs. A WDN consists of a great number of pipelines with different ages, lengths, materials, and sizes in varying degrees of deterioration. The available annual budget for rehabilitation of these infrastructures only covers part of the network; thus it is important to manage the limited budget in the most cost-effective manner. In this study, a novel pipe replacement scheduling approach is proposed in order to smooth the annual investment time series based on a life cycle cost assessment. The proposed approach is applied to a real WDN currently operating in South Korea. The proposed scheduling plan considers both the annual budget limitation and the optimum investment on pipes' useful life. A non-dominated sorting genetic algorithm is used to solve a multi-objective optimization problem. Three decision-making objectives, including the minimum imposed LCC of the network, the minimum standard deviation of annual cost, and the minimum average age of the network, are considered to find optimal pipe replacement planning over long-term time period. The results indicate that the proposed scheduling structure provides efficient and cost-effective rehabilitation management of water network with consistent annual budget.

• Journal of the Korean Institute of Landscape Architecture
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• v.48 no.3
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• pp.1-11
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• 2020

Urban parks are important spaces of ecological and socio-cultural value to citizens who lead busy lives in increasingly complex and densely populated megalopolises. However, creating and maintaining city parks takes the will of the authorities to put it into practice and provide the attendant financial resources. That explains why we are focused on the budget aspects for the Seoul Metropolitan City in relation to creating park spaces. Our findings were as follows: 1) The overall city budget has steadily increased, but the budget allocated to Green Seoul Bureau and new park development has decreased since 2011. 2) As for elected officials, the budget grew during the time of the first, third, and fourth mayors as the creation of parks was considered to be a major priority, but after the sixth popularly elected mayor, the budget was sharply cut. 3) About 10% of the budget was allocated to the parks managed by the self-governing districts, compared to the ones under the direct management of the city. Furthermore, the analysis of the average annual budget for each park and how long (in terms of year) the budget for each park is invested showed that it was classified into three different types of category. Local governments adhere to the principle that their budget must be compiled and expended for a single year, which makes it hard to establish and push ahead with a long-term plan. However, as parks and green areas should not be approached from a short-term perspective for performance but from a long-term perspective, securing the consistent amount of budget is essential. This study has significance in that it attempted to analyze the budget issues related to parks, which has not been studied in depth so far, but the subject in this paper was limited to the budget for Green Seoul Bureau. Therefore, further research is needed because the parks managed by the self-governing districts were not considered.

• Korean Journal of Hydrosciences
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• v.8
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• pp.57-68
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• 1997

The daily soil water contents were obtained from the time domain reflectometry(TDR) method and energy balance-water budget approach with eddy correlation at the two small semiarid watersheds of Lucky Hills and Kendall during the summer rainy period. There was a comaprison of daily soil water content measured and estimated from these two different approaches. The comparison is valuable to evaluate the accuracy of current soil water content measuring system using TDR and energy balance-water budget approach using eddy correlation method at a small watershed scale. The degree of simiarity between the regressions of these two methods of measuring soil water content was explained by determining the correlations between these methods. Simple linear regression analyses showed that soil water content measured from TDR method was responsible for 58% and 63% of the variations estimated from energy balance-water budget approach with edy correlation at Lucky Hills and Kendall, respectively. The scatter plots and the regression analyses revealed that two different approaches for soil water content measurement at a small watershed scale have no significant difference.