| Title |
A financial feasibility analysis of architectural development projects that use probabilistic simulation analysis method |
| Authors |
Lee, Seong-Soo ; Choi, Hee-Bok ; Kang, Kyung-In |
| Keywords |
Architectural development project ; Financial feasibility analysis ; Probabilistic analysis method ; Deterministic analysis method |
| Abstract |
Construction development work invents profit as those finalize object, and a make or break success of project depends on correct analysis and forecast business feasibility at project early. Business feasibility study would be decision-making under precarious situation because is connoting uncertainty that is future estimate at present visual point essentially. Under uncertainty, a decision-making method is based on probability theory of statistics, but business feasibility study had applied with not feasibility study by probabilistic decision method but it by determinism decision method so far. Therefore, in this study, doing decision-making by a probability theory method for successful project at early business feasibility study, it present a probabilistic study method that use simulation that can supply a little more correct and reliable data to decision-maker. As result, a probabilistic study method is more suitable than deterministic study method as technique for a financial feasibility study of construction development work. Making good use of this probabilistic study method at important business or careful decision-making, because efficient judgment that is based accuracy and authoritativeness may become available. |