| Title |
The VFM Analysis on the BTL Projects: Focused on the Case Studies |
| Authors |
Park, Tong-Kyu ; Kim, Sun-Kuk |
| Keywords |
BTL projects ; The VFM analysis ; PSC ; PFI ; LCC |
| Abstract |
Since 'Private Investment Act for Social Infrastructure Facilities' were changed in January 2005, BTL projects have been activated in the market. Nevertheless, several problems have been indicated as to the BTL system. Most of these problems are about the choice and scale of the target facilities and the reasonable rate of return allowed to the private investors, which are directly related to the VFM (Value for Money) analysis for the BTL projects.
This study discusses the concepts and the methodologies of the VFM analysis, reminds its importance by investigating current problems of the BTL system concerned with the analysis, and suggests useful implications and alternatives through the case studies on the four ongoing BTL projects for the educational facilities. |