• Journal of the Korea Institute of Building Construction
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• v.13 no.4
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• pp.416-423
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• 2013

An adjusted assessment model based on benefit-cost analysis (BCA) is proposed for evaluating the economic efficiency of automated construction technologies. In contrast to conventional BCA, the model does not compare monetary values, but the differences in benefits and costs between traditional and automated construction methods. To verify the usefulness of the model, it was applied to a real-scale building construction project that used a fully automated building construction system, and the face validity of the model was confirmed. The results indicate that the model can support decision makers in identifying valuable benefit factors and in assessing the cost effectiveness of the system.

• Journal of Korea Society of Industrial Information Systems
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• v.19 no.3
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• pp.67-74
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• 2014

Over the last several decades, the United States has experienced a great number of natural disasters. To minimize the impact of the natural hazard events, the U.S. government spent a tremendous amount of money through federal assistant programs. To be eligible for the programs, a mitigation project must be cost effective (more benefits compared to project costs). However, the state and local communities suffering from the natural disasters generally have difficulty in collecting reliable evidence for their damages which can be converted later into benefits when a mitigation project is implemented. Therefore, this paper shows the process of conducting a benefit cost analysis with limited data. Besides, it also provides how to apply the limited data to the analysis through a case study. Consequently, this paper help state and local communities get funding from the federal government, which in turns will improve the image of construction industry by preventing people from natural disasters.

• The Journal of the Institute of Internet, Broadcasting and Communication
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• v.15 no.3
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• pp.131-136
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• 2015

The feasibility study is an evaluation and analysis of the potential of a proposed project. It is based on extensive investigation and research to support the process of decision making. A systematic approach to determining the optimum use of scarce resources, involving comparison of two or more alternatives in achieving a specific objective under the given assumptions and constraints. Economic analysis takes into account the opportunity costs of resources employed and attempts to measure in monetary terms the private and social costs and benefits of a project to the community or economy. Cost-benefit analysis (CBA), sometimes called benefit-cost analysis (BCA), is a systematic approach to estimating the strengths and weaknesses of alternatives that satisfy transactions, activities or functional requirements for a business. It is a technique that is used to determine options that provide the best approach for the adoption and practice in terms of benefits in labor, time and cost savings etc. The CBA is also defined as a systematic process for calculating and comparing benefits and costs of a project, decision or government policy and projects.

• Journal of Environmental Impact Assessment
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• v.13 no.3
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• pp.103-114
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• 2004

As most of environmental impacts caused by development projects are irrevocable, a thorough review is utmost necessary. Ecological-economic integrated approach inspired by Norgaard's co-evolution theory should be applied to the environmentally adjusted CBA, which plays a decisive role in the feasibility analysis. Based on case studies of NamHan River Management Project and Yeongsangang Wetland Reclamation Project, this paper attempts to show the usefulness of linking basic plan and implimentation design to EIA and suggests to integrate EACBA into the current EIA system institutionally as a more effective policy tool for realizing sustainable development in Korea.