| Title |
Operating model for A Value-For-Money evaluation of BTL Projectsfor Educational Facilities |
| Authors |
Son, Ki-Young ; Kim, Jang-Young ; Kook, Dong-Hoon ; Kim, Sun-Kuk |
| Keywords |
BTL ; Analysis of appropriateness ; LCC ; System Dynamics |
| Abstract |
As the law on the private sector investment in social infrastructure was amended in January of 2005, the government isaggressively promoting BTL projects but many trials and errors and problems are occurring. Especially, the Value-For-Moneyevaluation conducted by the responsible agencies to judge the appropriateness of the project found there was a conspicuousdifference between the computed cost and the final contract sum.Accordingly, this study is aimed to grasp the problems in the current Value-For-Money evaluation and to improve it in orderto proceed with BTL projects efficiently. To achieve this, through a relative comparison to the final contract sum, a clearstandard for the items of Value-For-Money evaluation was presented and thus, a model that can ensure accuracy in computingthe Value-For-Money was established so that a delay in negotiations can be avoided. If the Value-For-Money evaluation established in this study is used in assessing the appropriateness of unit prices for BTLprojects for education facilities, a reasonable result can be expected to be drawn in selection and negotiations with contractors,and maintenance and Post-Operation-Evaluation(POE) of education facilities as well. |