| Title |
Optimal Operation-Guarantee-Period for Small Size Sales Facility within the Public Park Procured by Public-Private-Partnership |
| Authors |
Huh, Young-Ki ; Oh, Jea-Ho ; Lim, Jin-Ho ; Jeong, Kyeong-Soon |
| Keywords |
Public Private Partnership ; BTO ; Operation Guarantee period ; Cost Benefit Analysis ; Park |
| Abstract |
Although many people visit and enjoy the park thanks to the improvement of their living standard nowadays, they experience much inconvenience from insufficient modernized sales facilities. However, public bodies maintaining the parks encounter difficulty to overcome the problem mainly due to shortage of their budget. Three perspective places for sales facilities within two public park in B city were selected in order to demonstrate a simple yet reasonable approach for the bodies to decide an optimal guarantee-operation-period, when they procure the facilities by means of the PPP(Public-Private-Partenership). Number of visitors nearby the places were counted and surveyed in order to forecast annual visitors and sales volume. Then, NPV and Monte-Carlo Simulation was employed to produce probability distribution of the optimal guarantee-operation-period for each facility. The methodology can be a great interest for the public authorities to expand facilities in their park. |