Special Report Vol. 47 (2019)

A Study on the Feasibility Study and Performance Management of Urban Regeneration Projects

Chapter I. Research Background and Purpose

1. Increasing importance of evaluation and performance management of urban regeneration new deal projects

2. Systematic performance management by improving the evaluation system of urban regeneration projects

Chapter II. Analysis of the condition of the evaluation system related to urban regeneration projects

1. Legal system related to the evaluation of urban regeneration projects

2. Operation status of the urban regeneration project evaluation system

3. Implication

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Chapter III. Plan to reorganize the evaluation system of urban regeneration projects

1. Basic direction of the evaluation system reorganization

2. Criteria for improving evaluation items and improvement plan(proposal)

Chapter IV. Suggestion of methods to improve the evaluation system

1. Presentation of specific project goals and encouragement for achievement using the performance indicators

2. Promotion of systematic urban regeneration project management by establishing roles of entities

3. Evaluation verification system and introduction of a specialist institution for systematic evaluation managementlishing roles of entities

4. Improvement of the project management system in connection with the advancement of the urban regeneration information system

Summary

This study was motivated by the necessity of improving the evaluation system of the urban regeneration project. The study’s primary concern in this regard is to reorganize the evaluation system for all phases of urban regeneration projects, and to strength the pre-evaluation function of urban regeneration projects. Particularly, this study intends to establish a rational evaluation method that can verify the project feasibility prior to the project to only promote the projects that are in line with the goals of the urban regeneration new deal policy and are fit for the local situations and project characteristics.

As the study’s main outputs, this study intends to provide a check-list based evaluation form by unifying the existing gateway review process divided into two stages and by eliminating duplicate evaluation items. The unified evaluation form will enable systematic management of the conditions and problems of the urban regeneration new deal projects which are being promoted nationwide.

Feasibility study should be linked to the annual implementation performance evaluation in the project implementation phase so that efficient evaluation and management can be achieved. Corrective measures in response to the feasibility study results, implementation performance by sub-project, and the level of achievement of the performance and impact indicators should be regularly assessed to induce achievement of the planned goals. In the comprehensive performance evaluation stage, the evaluation should take place on whether the originally planned performances and impacts of the overall project have been achieved.

The evaluation system should use the evaluation items and methodologies that measure the expected impacts of urban regeneration projects in the project selection and planning phases. We intend to prepare the indicators and calculation methods for the social, economic, cultural and environmental achievements that can be created by subprojects and the effects that can be created by the overall project and induce the local governments to utilize these in the stage of urban regeneration activation planning.

This study has some limitations although it has contributions in establishing the procedure to evaluate the feasibility of urban regeneration project in each stages. Most of all, the feasibility evaluation of the project in the planning stage could not be analyzed in a statistically robust manner because the comprehensive effect of the project is visualized in long-term period. In light of this, additional analyses are worthwhile to confirm or revise this study’s results by analyzing relevant data associated with a more extensive set of cases. Moreover, further research is required to quantify the impacts of urban regeneration as a whole.