| Title |
A Value-For-Money Model of BTL Projects for Educational Facilities by System Dynamics |
| Authors |
Kim Jang-Youn ; Son Ki-Young ; Kook Dong-Hoon ; Kim Sun-Kuk |
| Keywords |
Build-Transfer-Lease ; Eligibility Analysis ; Life Cycle Cost ; System Dynamics |
| Abstract |
After reformation of 'the law of private investment on social infrastructure' on January 2005, The BTL Project delivery for educational facilities has been widely adopted to improve the education circumstance in advance. However, a lot of trial-and-errors are expected to occur.
Which are related with the benefit of Private Finance Initiative(PFI) than Public Sector Comparator(PSC). A Value-For-Money(VFM) analysis is a proper tool to set the issues about the benefit between PFI and PSC.
In this paper, the problems of VFM analysis are figured out and a VFM model is proposed to set up economical issues for educational facilities by system dynamics.
The model will be applied for VFM analysis ever than and help to improve the evaluation of alternatives for BTL project delivery in swift, accurate and easy manner. |