• Journal of the Korean Home Economics Association
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• v.28 no.2
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• pp.73-89
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• 1990

The aim of the present study is to estimates the economic value of household work done by fulltime home makers, using alternative methods of valuation household work in Pusan Korea. Eight findings, five different methods -Self Estimation by Home Makers, Reservation Wage, Opportunity Cost, Individual function Cost, Replacement Cost(Visiting Housekeeper, Housekeeper, General Managemet, Housekeeper & General Management)- are tried for the estimation of economic value of household work. The results of this study can be outlined as follows : 1) The economic value of household work varies substantially by the methods of estimating. The averages are : 2) The economic value of household work varies with the level of education, ages, the number of children, the stage of FLC in all method of estimation, and the level of income in self estimation by home makers, Reservation wage. Specially, FLC revealed good explanation variable in method of estimation as input household work time. 3) The gap between two-day survey and three-day survey in household work time questionaire didn't so much.

• Journal of the military operations research society of Korea
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• v.29 no.2
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• pp.81-99
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• 2003

This paper propose a method determining life cycle for military vehicle using availability analysis. Many studies determining life cycle for military equipments have been done recently However, those studies focused on economic life such as average system cost method, equivalent annual cost method and cumulative operations cost method. In many case, those results are not appropriate in deciding replacement in the field situation, we consider an effective life cycle method using availability concept. In order to determine an equipment life cycle. Two kinds of availability is considered. One is equipment yearly availability, the other is operational availability with operating distance per year. The life cycle is determined by achieving unit target availability level. The result using this concept for K­511 military vehicle life cycle is about 19 years, which is longer than previous studies.

• Industrial Engineering and Management Systems
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• v.3 no.2
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• pp.134-139
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• 2004

During the last three decades, a few attentions have been paid for investigating the cost distribution for the optimal maintenance problems. In this article, we derive the moment of the discounted cost distribution over an infinite time horizon for the basic age replacement problem. With first two moments of the discounted cost distribution, we approximate the underlying distribution function by three theoretical distributions. Through a Monte Carlo simulation, we conclude that the log-normal distribution is the best fitted one to approximate the discounted cost distribution.

• Informatization Policy
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• v.19 no.2
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• pp.85-105
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• 2012

So far, the importance of informatization, as well as investment into it, has been growing steadily. Due to the uncertainties and risks in adopting information technologies, systematic decision-making is definitely needed in investing in a large scale information system. Based on the existing theories about the economic life span of information systems and in consideration of the actual cost involved in the adoption and operation of the systems by the financial institutions in Korea, this study presents the optimal economic life span for all types of information systems in terms of the economic cost and generalizes the optimal life span. The ultimate purpose of this study is to develop a model that could be used in anticipating the timing of economic replacement of the information system of the same type and making decisions on IT investment.

• Korean Journal of Air-Conditioning and Refrigeration Engineering
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• v.23 no.10
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• pp.656-661
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• 2011

The amount of water resources that can be used tend to be decreased gradually. In contrast, the rapidly increasing water consumption is a problem that need to be addressed. Renovation and equipment replacement to improve energy efficiency and to reduce expenditure for building usage is required. But the excessive initial investment cost and the prolonged of pay back period may be uneconomical choice. Water usage for cleaning the toilet bowl accounts for 27%of the total water usage. Water-saving valve that can select the amount of water for cleaning toilet bowl can be reduced expenditure. After installing water-saving valve, analysed the economic effects. Water-saving valves compared with flush valves, and researched the amount of water usage. Then analyzed for the economic effects. Water-saving valve was used 5.6 ${\ell}$/time for cleaning toilet bowl. In contrast, flush valve was consumed 8.4 ${\ell}$/time. Water-saving valve's water-saving rate was 33.3%. The initial payback period for Water-saving valve was 459.5 days. By a small investment in water saving valve, the economic benefits can be obtained.

• Water for future
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• v.29 no.3
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• pp.197-205
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• 1996

Flow carrying capacity of water distribution systems is getting reduced by deterioration of pipes in the systems. The objective of this study is to develop a managerial decision-making model for the rehabilitation of water distribution systems with a minimum cost. The decisions made by the model also satisfy the requirements for the discharge and pressure at demanding nodes in the system. The replacement cost, pipe break repair cost, and pumping cost are considered in the economic evaluation of the decision along with the break ratio and interest ratio to determine the optimal replacement time for each pipe. Then, the hydraulic integrity of the water distribution system is checked for the decision by a pipe network simulator, KYPIPE, if the discharge and pressure requirements, the decision made for the optimal replacement time is revised until the requirements are satisfied. The model is applied to an existing water distribution system, the Metropolita Water Supply Project (1st Phase). The result shows that the decisions for the replacement time determined by the economix analysis are accepted as optimal and the hydraulic integrity of the system is in good condition.

• Journal of the Korean Society for Library and Information Science
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• v.50 no.4
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• pp.121-142
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• 2016

The purpose of this study was to assess the economic value of the National Assembly Library service utility, and to enhance the users' perception and the stakeholder's supports for the library services. For those purposes, this study applied the measurement methods of time value, replacement service value, and WTP of the three user groups: inside members, outside users, and institutional members of the Library. The replacement service value as annual time valuation was measured 1,948.2 million won by inside members, and 417.057.5 million won by outside users, that was approximately 10 times of the total budget of the year 2015. Also, WTP were measured as 8,528.3 million won by inside member, 33,272.4 million won by outside users, 924 million won by institutional members. This shows 77% of the use value were from outside users. The BC ratio was 1:1.04 in 2015.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.21 no.45
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• pp.237-246
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• 1998

In most statistical process control(SPC), control charts are used in which samples are taken and a suitable statistic is determined and plotted. In these control charts, control limits, ${\mu}{\pm}textsc{k{\sigma}}$, from which a decision is made are mostly ${\mu}{\pm}3{\sigma}$ and current literature in control charts are mainly concerned with detecting a shift in the mean. Therefore, when $\sigma$ is increased considerably after a long time, using control limits set at the first time causes a great deal of economic loss. In this paper the solutions to determine new control limits which maximizes the profit per unit produced and reduce $\sigma$ to economically optimal level for a certain cost when $\sigma$ is increased due to process deterioration are proposed. By applying new control limits, $\alpha$ error decreases considerably compared to apply initial control limits when $\sigma$ is increased due to process deterioration. Therefore, false alarm investigation cost drops down to the level of initial a error. And also this solution provides useful information regarding replacement of a process when the process is reviewed regularly.

• Proceedings of the SAREK Conference
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• 2007.11a
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• pp.316-321
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• 2007

It is difficult for a superintendent or an operator of building service systems and equipment to decide the reasonable time for management of himself due to the shortage of his specialty for repair or replacement of a part of or whole equipment. But The reliable life expectancies for various building service equipment have not been prepared yet. This study shows the difference of optimal economic life and the decrease of running cost and energy consumption according to management level of the building equipment by the LCC analysis. The numerical model for building HVAC system was composed and analyses were performed for several parameters with management.

• Proceedings of the Korean Institute of Information and Commucation Sciences Conference
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• 2017.05a
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• pp.233-235
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• 2017

Forklift tend to work in place rather than moving due to work environment conditions, so they express only the engine operation time without expressing the moving distance unlike a general car's instrument panel. Therefore, various consumables constituting the forklift have a replacement cycle according to the operation time of the engine. However, it is very difficult to judge the exact replacement cycle only by the engine operation time because the working environment differs for each forklift. In this paper, we propose a system that provides position information and moving distance information of forklift to driver using GPS and IMU sensor. By using this system, it is expected that the forklift status information, which is difficult to judge by the existing instrument panel, is provided as easier information, and economic benefits for forklift management and maintenance are expected.