• Industrial Engineering and Management Systems
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• v.9 no.2
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• pp.107-120
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• 2010

In today's uncertain economic environment, the evaluation of safety for investment alternatives is of practical importance in manufacturing companies. This paper examines a method of quantitatively evaluating profitability and risk for multiple alternatives using the total-cost unit-cost domain. The paper assumes such factors as unit sales price, sales and production volume, unit variable cost, fixed cost, and yield for each alternative. The paper incorporates the relationship between production capacity and demand, distinguishing between cases of production capacity surplus and shortage for each year over the entire planning horizon. The paper investigates the case in which the values of each factor independently move in the direction of decreasing profit each year, and clarifies the procedure of comparing safety among multiple investment alternatives on a single consolidated total-cost unit-cost domain. The difficulty of the problem lies in the method of consolidating multiple total-cost unit-cost domains into a single domain since the combination of years of capacity surplus and shortage depends upon the change values in each factor under consideration. A systematic method of evaluating profitability as well as risk is presented, and the validity of the proposed method is verified using a numerical example.

• Journal of Korean Society of Transportation
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• v.1 no.1
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• pp.104-120
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• 1983

Alternative generation and evaluation in the transportation planning process are generally considered the two most important areas of research. It is, however, unfortunate that most of Korean transportation network systems are evolved without thorough investigation of alternatives and that underplanned systems as well as over-planned systems ar blamed for the current transportation problems. This paper investigates the practical use of formal methodology of alternative generation and evaluation. The maximum possible alternative network approach and the computer oriented network evaluation method developed by KIST and applied for Pusan subway study are summarized to demonstrate their practical usefulness. The practical problems centering around the quantification of evaluation criteria ar also summarized for further studies.

• Proceedings of the Korean Nuclear Society Conference
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• 1995.10a
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• pp.197-202
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• 1995

When the process disturbance of nuclear power plant occurred, the operator should ensure plant safety, economy and identify the causes of disturbance. To accomplish these goals, operator should process a large amounts of information. Among these, alarms would be often in the operator's first indication of a plant state change or disturbance. To support limited information processing capability of operator, considerable works are under way to develop advanced alarm processing systems and to evaluate it. However, conventional evaluation method could provide just evaluation results but the design alternatives to enhance alarm system performance. To overcome problems associated with conventional evaluation methods of alarm system, signal detection theory(SDT) was introduced, and it was possible conclude that SDT could not only evaluate system but also suggest design alternatives for performance enhancement.

• Proceedings of the Korean Operations and Management Science Society Conference
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• 2007.11a
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• pp.152-155
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• 2007

The object of this research is to evaluate the priority of R&B project alternatives which were already screened by both feasibility and suitability of technological performance. This research is a selection model for R&D project alternatives after setting phase. And it is designed by CHP model which include individual and mutual weights. This model have 5 steps. (1) Setting Technology-Modules derived on the setting phase (2) Presenting the evaluation standards divided with 'M-Field' and 'T-Field' (3) Assessing the evaluation standard and technology modules (4) Obtaining and integrating the individually and mutually effective weights (5) Selecting the technology modules based on the priority of order by CHP. Through these steps, this model can suggest the evaluation way from specific technology levels to project level. And it can be guaranteed to perform the selected module set.

• Journal of Navigation and Port Research
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• v.32 no.8
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• pp.621-628
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• 2008

Container terminals keenly compete with one another because of the continuous increase of container flows and the appearance of large-sized vessels. Major cargo handling equipment manufacturers are interested in the development of new conceptual equipment to greatly increase its productivity. In this study, a two-phase procedure is suggested for selecting the optimal development alternatives, when various development alternatives for container cranes are given. The first phase removes the alternatives that violate essential requirements and the second phase selects final alternatives by the evaluation of experts and the linear assignment method. Finally, a case applying the procedure is provided.

• Environmental and Resource Economics Review
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• v.20 no.1
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• pp.61-98
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• 2011

This study conducts economic evaluation of alternatives for $CO_2$ reduction of thermal power plants. Two alternatives in reducing $CO_2$ emission are considered for the evaluation under the RPS(Renewable Portfolio Standard) system; one is to perform renewable energy quotas and another is to construct green thermal power plants using CCS(Carbon Capture and Sequestration). As evaluation methods, DCF(Discount Cash Flow) and ROPM(Real Options Pricing Method) are employed. At a discount rate of 7.5% applied to the Electricity Supply and Demand Plan, it is shown that green thermal power generation has economic dominance under both evaluation methods.

• Journal of Korean Institute of Industrial Engineers
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• v.24 no.1
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• pp.51-59
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• 1998

This paper presents a new present value measure, the dynamic present value, or DPV. DPV takes into account not only the value of the realized cash flow but also that of potential cash flow. The DPV approach enables the analyst to observe differences in the present value of the alternatives every period over the whole time period of interest. This is the most fundamental advantage of the DPV approach over the traditional present value approach in which the present value of the alternatives is evaluated only one particular point of time. The concepts of the realized and potential cash flows are also developed in this paper. These new concepts are found to be useful elements in evaluating economic alternatives.

• Proceedings of the Computational Structural Engineering Institute Conference
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• 1998.04a
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• pp.199-209
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• 1998

Since most engineering problems have had open-ended and ill-defined characteristics, design process is in advance attended with determination of alternatives based on realistic constraints after definition of appropriate problem. And it is completed with selection of best alternative through their comparison and investigation, and with performance of selected-alternative's detail design. As the process of structural design compared with that of general design, this paper presents a paradigm which can generate structural design alternatives, select optimum structure among them and simultaneously set its optimum design variables in reference of several objective as a result in more extended design region. For this purpose, specialized genetic algorithms which can handle design alternatives and multicriteria problems is used.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.39 no.6
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• pp.923-932
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• 2019

VE is used as a powerful tool to add value to facilities by improving functionality and reducing costs. By identifying the client's requirements in the VE process and reflecting them in the quality model, the developed alternatives meet the client's requirements. However, there is no process to verify how the developed alternatives reflect the needs of the client through functional analysis, idea generation and evaluation. The purpose of this study was to develop, verify, and prove the effectiveness of a methodology for evaluating client satisfaction with alternatives developed during the VE Job Plan. The KANO model, which can identify the satisfaction and dissatisfaction of requirements in product planning, was set as a methodology for alternative verification procedures of VE, and was improved and applied to the purpose of this study. As a result, the alternative evaluation method developed in this study was found to be useful. It is expected that the KANO model will be used to evaluate the satisfaction of VE alternatives in the VE Job Plan analysis.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.20 no.42
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• pp.59-66
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• 1997

In the process to design a product, the values of the product will be designed must be considered in respect to the multi-dimensional properties consisted of subjective and objective attributes. As same reason, methods to evaluate the design alternatives in the process must evaluate the overall attributes and relationships among its, also. In this paper, the defectivenesses of evaluation methods in the process of product design are summarized. One of the severe defectivenesses of the methods is the insufficient rationality of calculation procedure. Then, we introduce the developed quantitative evaluation method to accomodate this defectiveness and to be considered a evaluator's feeling or ambiguity when evaluating design alternatives by means of fuzzy theory, and suggest it's application steps on the process of product design to be used easily.