• Title/Summary/Keyword: Replacement cost method

Search Result 152, Processing Time 0.028 seconds

A Study of the Economic Valuation of Rural Women's Labor - Agricultural Work and Household Work - (여성농업인 노동의 경제적 가치평가에 관한 연구 - 농업노동과 가사노동 -)

  • 유소이;최윤지;조현숙;김경미
    • Journal of the Korean Home Economics Association
    • /
    • v.41 no.7
    • /
    • pp.157-168
    • /
    • 2003
  • The purposes of this study were to explore the rural women's labor by measuring labor value economically. To achieve the purpose, this study applied four methods : replacement cost method individual function, replacement cost method generalist, opportunity cost method and shadow wage method. The results of this study were as follows: 1) Time used for agricultural work and household work by with women were 5.3 hours and 3.8 hours each. 2) According to the methods used, the amounts of valuing rural women's labor were varied and ranged from 23,000 won to 43,000 won per day. This study might help recognize the degree of rural women's labor contribution to the household income of farm households and improve the socio-economic status of rural women through showing the productivity of the rural women's labor.

A Contribution to the National Economy System of Unpaid Household Labor (무보수 가사노동의 국민경제에 대한 기여도 평가)

  • 문숙재;윤소영;김은희
    • Journal of the Korean Home Economics Association
    • /
    • v.40 no.10
    • /
    • pp.161-176
    • /
    • 2002
  • This study is a basic research for the estimation of the value of unpaid household labor within the national economy system to be reflected in the related policy-making. By measuring economic value of unpaid household labor and estimating the ration to GDP, this study attempted to confirm the productivity of the unpaid household labor and thus contribute to the improvement of socio-economic status of women. Especially, it focused on the development of a standard of estimating unpaid household labor as a method applicable to the present economic and legal system. To organize the method of economic valuation of unpaid household labor and calculate the ration to GDP, this study used three approaches: replacement cost method individual function, replacement cost method generalist and opportunity cost method. Although the estimated result revealed that the economic value of unpaid household labor showed a great extent of deviation according to the estimating methods and the wage rate, total value of household labor ranged from one hundred and thirty eight to two hundred and thirty trillion wens, about 28-48% of GDP in Korea.

Optimal Maintenance Policy Using Non-Informative Prior Distribution and Marcov Chain Monte Carlo Method (사전확률분포와 Marcov Chain Monte Carlo법을 이용한 최적보전정책 연구)

  • Ha, Jung Lang;Park, Minjae
    • Journal of Applied Reliability
    • /
    • v.17 no.3
    • /
    • pp.188-196
    • /
    • 2017
  • Purpose: The purpose of this research is to determine optimal replacement age using non-informative prior information and Bayesian method. Methods: We propose a novel approach using Bayesian method to determine the optimal replacement age in block replacement policy by defining the prior probability with data on failure time and repair time. The Marcov Chain Monte Carlo simulation is used to investigate the asymptotic distribution of posterior parameters. Results: An optimal replacement age of block replacement policy is determined which minimizes cost and nonoperating time when no information on prior distribution of parameters is given. Conclusion: We find the posterior distribution of parameters when lack of information on prior distribution, so that the optimal replacement age which minimizes the total cost and maximizes the total values is determined.

Benefit analysis model of the national map revision program using replacement cost method (대체비용법을 이용한 수치지형도 갱신사업의 편익분석 모형 연구)

  • Son, Hwamin;Yang, Sungchul;Ga, Chillo;Yu, Kiyun;Huh, Yong
    • Journal of the Korean Society of Surveying, Geodesy, Photogrammetry and Cartography
    • /
    • v.31 no.1
    • /
    • pp.79-87
    • /
    • 2013
  • This study proposed a method to analyze the economic benefit of the national map revision program using the replacement cost method. The replacement cost method measures the benefit of a project as the minimum cost to replace functions of the project with those of alternative goods or services in an existing market. Thus, the demands on 1/5,000 topographic map revision in 18 administrative tasks such as city and district management planning were surveyed in three local autonomous entities. Then the cost to alternatively fulfill the demands was estimated with the standard construction estimating system for the field surveying and surveying results in commercial GIS companies for the site investigation. With this cost estimation model, the benefit of the current national map revision program to the local autonomous entities was estimated as 265,960,999 won. And cost benefit ratios according to several revision frequencies from 0.5 to 4 year were also compared to find the optimal frequency.

A Study on the Determination of Replacement Time for Military Vehicle Using Availability Analysis ­ Focused on 2 \frac{1}{2} Ton Cargo­ (군용 기동장비의 가용도 분석을 통한 교체시기 결정에 관한 연구 ­2 \frac{1}{2} 톤 차량을 중심으로­)

  • 하형호;강성진
    • Journal of the military operations research society of Korea
    • /
    • v.29 no.2
    • /
    • pp.81-99
    • /
    • 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.

A Market-Based Replacement Cost Approach to Technology Valuation (기술가치평가를 위한 시장대체원가 접근법)

  • Kang, Pilsung;Geum, Youngjung;Park, Hyun-Woo;Kim, Sang-Gook;Sung, Tae-Eung;Lee, Hakyeon
    • Journal of Korean Institute of Industrial Engineers
    • /
    • v.41 no.2
    • /
    • pp.150-161
    • /
    • 2015
  • This paper proposes a new approach to technology valuation, the market-replacement cost approach which integrates the cost-based approach and market-based approach. The proposed approach estimates the market-replacement cost of a target technology using R&D costs of similar R&D projects previously conducted. Similar R&D projects are extracted from project database based on document similarity between project proposals and technology description of the target technology. R&D costs of similar R&D projects are adjusted by mirroring the rate of technological obsolescence and inflation. Market-replacement cost of the technology is then derived by calculating the weighted average of adjusted costs and similarity values of similar R&D projects. A case of "Prevention method and system for the diffusion of mobile malicious code" is presented to illustrate the proposed approach.

Cost-optimal Preventive Maintenance based on Remaining Useful Life Prediction and Minimum-repair Block Replacement Models (잔여 유효 수명 예측 모형과 최소 수리 블록 교체 모형에 기반한 비용 최적 예방 정비 방법)

  • Choo, Young-Suk;Shin, Seung-Jun
    • Journal of Korean Society of Industrial and Systems Engineering
    • /
    • v.45 no.3
    • /
    • pp.18-30
    • /
    • 2022
  • Predicting remaining useful life (RUL) becomes significant to implement prognostics and health management of industrial systems. The relevant studies have contributed to creating RUL prediction models and validating their acceptable performance; however, they are confined to drive reasonable preventive maintenance strategies derived from and connected with such predictive models. This paper proposes a data-driven preventive maintenance method that predicts RUL of industrial systems and determines the optimal replacement time intervals to lead to cost minimization in preventive maintenance. The proposed method comprises: (1) generating RUL prediction models through learning historical process data by using machine learning techniques including random forest and extreme gradient boosting, and (2) applying the system failure time derived from the RUL prediction models to the Weibull distribution-based minimum-repair block replacement model for finding the cost-optimal block replacement time. The paper includes a case study to demonstrate the feasibility of the proposed method using an open dataset, wherein sensor data are generated and recorded from turbofan engine systems.

A Study on Reliability Analysis & Determination of Replacement Cycle of the Railway Vehicle Contactor (철도차량 접촉기의 신뢰성 분석 및 교환주기 결정에 대한 연구)

  • Park, Minheung;Rhee, Sehun
    • Journal of Applied Reliability
    • /
    • v.17 no.4
    • /
    • pp.316-324
    • /
    • 2017
  • Purpose: The purpose of this study is to determine the replacement cycle applied age replacement policy by reliability analysis based on railway vehicle contactor's failure history data. Method: We performed reliability analysis based on railway vehicle contactor's failure history data. We found a suitable distribution by goodness of fit test and predicted the reliability through estimation of scale & shape parameter. Considering cost information we determined the replacement cycle that minimize the opportunity cost. Result: Suitable distribution was the Weibull and scale parameter & shape parameter are estimated by reliability analysis. The replacement cycle was predicted and MTTF, $B_6$ percentile life were suggested additionally. Conclusion: We confirmed that failure rate type of railway vehicle contactor is degradation model having a time dependent characteristic and examined the replacement cycle in our country's operating environment. We expect that this study result contribute to railway operation agency for maintenance policy decision.

Optimal Spare Provisioning for Group Replacement Policy (경제적인 그룹교체보전을 위한 최적 예비품 재고수준의 결정)

  • Yoo, Young Kwan;Park, Roh Gook
    • Asia-Pacific Journal of Business Venturing and Entrepreneurship
    • /
    • v.9 no.2
    • /
    • pp.81-86
    • /
    • 2014
  • In this paper, a jointly optimal group replacement and spare provisioning policy is presented. Most maintenance policies assume that the spare inventory is always available, but in practice the maintenance schedule is affected by the availability of spare inventory. We present a maintenance-inventory model which jointly optimizes the group replacement interval and spare ordering quantity. Group replacement policy is used when a group of units are put in operation simultaneously. The operating fleet is replaced altogether at a predetermined number of units are failed. A sufficient level of spare inventory is carried to perform a number of group replacement. A cost rate expression which considers the group maintenance cost and inventory holding cost is derived and a heuristic method for searching the optimum value of decision variables is suggested. Numerical examples demonstrate the analytical results and the performance of the presented model.

  • PDF

Analysis of Economic Lifespan for Replacement Policy of Container Ship using Fuzzy Interval Numbers

  • Jang, Woon-Jae
    • Journal of Navigation and Port Research
    • /
    • v.35 no.2
    • /
    • pp.173-178
    • /
    • 2011
  • This study determined the ship replacement life expectancy from an economic perspective. There are many ambiguities in the cost for calculation of economic lifespan, and these were expressed as fuzzy numbers. Also, a fuzzy cost model using fuzzy numbers was developed and suggested as a more practical analysis method than the existing cost model. And the suggested fuzzy model was used to determine the economic lifespan for various types of container ships. As the result, Without fuzziness, the economic lifespan of 5000 TEU Ships was found to be 19 years. it was found that the greater the container ship, the greater the economic lifespan was.