• Journal of Korean Library and Information Science Society
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• v.35 no.4
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• pp.491-516
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• 2004

The purpose of this study is to analyze the approach of economic feasibility and political and technical feasibility in the construction of a new public library. The results show that the cost-benefit analysis using in economic feasibility have the problems of benefit counting and discount rate, and also political and technical feasibility have the problems of wrong use in the rationalization of construction project. The result of this study is expected to be useful in preparing the feasibility study.

• International conference on construction engineering and project management
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• 2007.03a
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• pp.820-829
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• 2007

This paper presents an evaluation of feasibility studies conducted to justify investments in infrastructure projects. An analysis of a previous feasibility study for a highway construction project is presented in this paper with an emphasis on the estimates and forecasts presented in that study in order to weigh expected benefits from the project against expected costs. The forecasted numbers are compared with actual data collected during the operation phase about the usage of the facility. The comparison reveals a huge difference between estimated numbers and actual numbers. Based on the lessons learned from the analyzed case study, recommendations are presented to improve feasibility studies for infrastructure projects including: peer review of feasibility studies; before-and-after feasibility studies; and defined scope and methodology for feasibility studies. Decision makers are advised to take outcomes of feasibility studies for infrastructure projects with extreme caution as some studies may provide erroneous and misleading input to their decisions regarding investment in infrastructure projects.

• Journal of the Korean Operations Research and Management Science Society
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• v.15 no.1
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• pp.47-61
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• 1990

The purpose of this study is to construct a new model named Communication Consensus Value Weighted (CCVW) model based on inter-personal technical communication within a project team, and to design Feasibility Estimates Integrated Terminal System (FEITS) which is a subsystem of R & D Project Planning System/System Alternatives Feasibility Estimation System (RDPPL/SAFES) using the model as a key function for feasibility estimation in that system. This new model aims to integrate technical feasibility estimated by several estimators in the lowest level as the project work breakdown structure which is the indentical conception of a terminal system in RDPPL. The process to obtain the feasibility estimate integrated is presented in this paper.

• Proceedings of the KSR Conference
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• 2010.06a
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• pp.437-441
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• 2010

The SOC project such as road and railway performs a preliminary feasibility study according to the priority of the individual projects after establishing the master plans. For a preliminary feasibility study, feasibility evaluation should be performed according to the transport demand estimation and economic analysis. The feasibility of individual project will be performed by focussing on the results of analyzing economic feasibility. In case that analysis of the traffic demand and the economic feasibility every phase is performed, a lot of time and expense will be required in the course of promoting projects. So this study could give help to determine the priority of the project by intuitive method only in the phase to establish the master plan and a preliminary feasibility study.

• Journal of Korean Institute of Industrial Engineers
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• v.8 no.2
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• pp.3-14
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• 1982

The purpose of this study is to establish the function of a sub-system for System Alternatives Feasibility Estimation (SAFE) in R & D Project Planning Phase (RDPPL). It is the fundamental function of the RDPPL/SAFE that selected an optimal planning system alternative of all, considered at RDPPL/SAS, by logical means in view of feasibility. In this paper, improving the function of RDPPL/SAFE, mathmatical models in order to quantify methods determining and integrating the feasibility funtion in each terminal system with a multi-stage process are examined.

• Journal of Information Technology Services
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• v.17 no.3
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• pp.101-115
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• 2018

In order to promote the IT business efficiently, the Preliminary Feasibility Study has been conducted since 2004. It is to verify the feasibility of a large-scale IT project in advance and to determine whether to reflect the budget. It is more difficult to analyze the benefits of the IT project than other projects, because the IT project is carried out by combining tangible and intangible assets and human resources. For this reason, the Standard Guideline for Preliminary Feasibility Study in the IT field suggests a framework to support in estimating the benefits of the IT project. However, it includes the following problems : 1) level discrepancy among the benefit categories, 2) lack of types of benefit items, 3) no consideration of benefit inducing factors. So the framework is facing a low utilization. This study develops a new framework through a three-step research process. The new framework can be used not only for preliminary feasibility studies but also for estimating the benefits of general IT projects.

• International conference on construction engineering and project management
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• 2015.10a
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• pp.698-699
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• 2015

For last three years, our research team have conducted the project named "Development of construction project management technology based on BIM/GIS platform. "We developed construction cost estimation system as well as 3D modeling engine at the first two year and established a web-system which could estimate the benefits of the project and further analyze the economic and financial feasibility of the project. This paper mainly focused on the functions and specifications of web-system. The system was composed of two modules: economic feasibility estimation module and financial feasibility estimation module. While the economic feasibility estimation module determines economic feasibility of the project based on traffic demand forecasting from the public's perspective, the financial feasibility estimation module determine financial viability of the project using toll fee of the road from private entity's perspective. Compared with traditional feasibility study, the proposed system provide users with better flexibility which can make users easily to validate the project upon the change of project environments. The system was also verified with an already accomplished project. The verification showed that proposed system could provide satisfactory accurate results with reduced time and resources.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• autumn
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• pp.379-384
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• 2002

A road construction project needs a large scale of investment and tine. In this study, we will review some elements of feasibility analysis and derive points of the existing analyses. And we make some suggestions to improve the existing methods. We propose a 'A Feasibility Information System' for road construction projects. The system will be useful to make a feasibility study for road construction project and help us to predict risks in process of the projects.

• International conference on construction engineering and project management
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• 2009.05a
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• pp.847-855
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• 2009

While many studies on feasibility analysis for housing projects have been released, the main focus was on economic feasibility and factors related to developers were not clearly identified enough to be used in practice. In order to establish a feasibility analysis model for apartment development projects requested by developers in Korea, 31 driving factors behind projects' success were identified under seven different categories. Criterions of the each factor were also developed, and weight of each factor was assigned by applying the Analytical Hierarchy Process(AHP). Finally, based on the Monte Carlo simulation, the feasibility analysis model was established, providing probability distribution of project's grade. The model was applied to 12 housing projects to verify its reliability, and found that the model properly filtered projects that are unlikely to be profitable, indicating reasonable reliability of the model. The model can be a useful tool for contractors, especially with less experience in analyzing project development feasibility.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• autumn
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• pp.454-459
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• 2003

Feasibility study on large scale projects like an investment on infrastructure development is very important because it provides fundamental data which determine the total investment size and duration. However, previous feasibility studies have a few problems of ambiguous estimation standards, unsystematical estimation methods, and so on. Accordingly, this study intends to regulate tile problems on economic feasibility as well as financial feasibility study which have been considered more critical in recent time, subsequently presents a reform measure. Also, this study identifies predictable risks during the feasibility study, presents a scheme which lets investor and owner control the risk themselves through a process which uses theoretical and political management plans.