IJIMT 2017 Vol.8(1): 71-76 ISSN: 2010-0248
doi: 10.18178/ijimt.2017.8.1.705

A Study on the Decision Making of New Construction Technology information Services Development Project Using Real Option Model

Seong-Yun Jeong
Abstract— In this paper, the Construction Technology Digital Library Service (CODIL) system is operated as part of the project to build the construction technology information distribution system aimed at improving the technology competitiveness of the construction industry. With the recent migration of the database that had so far been serviced by the CODIL system to other systems, the overall usage of the system is expected to fall. We are planning a new construction technology information services development to raise the usage of the system with a limited budget. This study evaluated the economic feasibility of this project using the real option model (ROM) method to enhance the implied payoff of the system. The results of this study are expected to provide the necessary information to decision makers, which is required for the strategic decision making on the new services development project by considering the uncertainty of the future.

Index Terms— Real option model, construction technology digital library system, economic analysis, decision making.

Seong-Yun Jeong is with the ICT Convergence and Integration Research Division of the Korea Institute of Civil and Building Construction Technology, Gyeonggi-Do, South Korea (e-mail: syjeong@kict.re.kr).

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Cite: Seong-Yun Jeong, " A Study on the Decision Making of New Construction Technology information Services Development Project Using Real Option Model," International Journal of Innovation, Management and Technology vol. 8, no. 1, pp. 71-76, 2017.

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