- Volume 32 Issue 1
Large portion of apartment projects are initiated and conducted by developers together with contractors in Republic of Korea. Contractors therefore surely need to have great knowledge about feasibility analysis in order to make right decision on whether or not participate in a project proposed by a developer. However, few contractors have such skill and insight in reality and make the judgement mainly based on experience and intuition of their top management. A decision making model was developed that can be used easily and practically by contractors. Furthermore 109 real project cases were applied into the model and found that the model could help to make right decision with reliability of as high as 85.3 percent. Using scatter plots and logistic regression analysis, a few drivers affecting the decision were also found, namely, 'project site', 'basic plan', 'economic feasibility', 'salability'. The results will be a great interest for anyone who wants to make right decision with relatively small efforts.
- Hong, Y., Kim, Y., & Kim, Y. (2007). A study on the Feasibility Analysis factor Model for Housing Development Projects. Preceeding of Korea Institute of Construction Engineering and Management, 249-254.
- Hong, Z., & Go, S. (2009). A Study on the Evaluation Criteria for Feasibility Analysis of Apartment House Development Project. Korea Institute of Construction Engineering and Management, 10(1), 102-113.
- Jeong, G. (2001). Building a Process Model for Feasibility Analysis in an Apartment Housing Development. Master Degree Dissertation of Kyung Hee University.
- Jo, G. (2005). Rank Analysis Decision Making of Advanced Leaders. Donghyun Publisher.
- Ju, J. (2002). A Study of the Feasibility Analysis in Urban Redevelopment Project. Master Degree Dissertation of Kyung Hee University.
- Lee, S., & Gang, G. (2006). Feasibility Study of an Construction Development Projects Adopting Computer Simulation. Architectural Institute of Korea, 22(5), 163-173.
- Shin, G. (2002). A Study on the Importance of Risk Factors in the Pre-project Planning Phase of the Development Projects. Master Degree Dissertation of Hanyang University.