Preliminary feasibility study for road projects incorporating balanced regional development
- Date : 2012
- Author(s) : CHO Namgeon / PARK Hyeon
- Domain(s) : Economic Studies / Planning / Project Management
- PIARC Ref. : RR356-056
- Number of pages : 8
This article presents the preliminary feasibility study (PFS), introduced in 1999 in Korea. PFS has induced informed decision in the budget allocation, enhancing efficiency of fiscal management by checking starts of unnecessary projects at their early stages. Due to its successful implementation, the PFS has been expanded to appraisals for local government projects and non-infrastructure programs, such as R & D and social programs, leading to improved public inquiry process.