| Title |
Feasibility Analysis Model Study of Realestate Development |
| Authors |
Park Jong-Bae ; Cho Yong ; Kwon Ki-Bum ; Paek Joon-Hong |
| Keywords |
Real Estate Development ; Feasibility Study ; Atypical Risk ; Selective financial analysis ; Probabilistic Analysis |
| Abstract |
The purpose of this study is to propose feasibility study model focused on influences of risk factor in cost. Recently, the interest in risk analysis is increasing due to recession in real estate market. Feasibility study in the first stage takes a great role in a project. There are not objectified tools which are able to cope with uncertainty of project, and feasibility study based on selected method of cash-flow does not include liquidity of cash-flow. Also, shortage on consideration for subjective and atypical external factors causes inappropriate results. Considering effective level of cost based on objective risk factors and probable cash-flow by feasibility study model, real workers are able to bring correct and scientific decisions better than former method based on selective financial analysis. |