부동산개발사업의 리스크관리방안에 관한연구

A Study on the Risk Management of Real Estate Development Project - Focused on the Importance of Project Financing Risks -

1. CONTENTS (1) RESEARCH OBJECTIVES From the perspective of lenders, through the process of risk analysis of the real estate project financing (PF) loan, the Lender’s subjective decision-making will be more objective, and therefore used as evaluative data in deciding the project financing (PF) loans. In addition, loan evaluation will be rational and objective, and its purpose is to prevent the bad loans from lenders and construction finances to ensure a sense of soundness being placed. (2) RESEARCH METHOD By separating the important project financing risk factors from those that are not, risk items were classified accordingly, and to estimate the importance of risk factors themselves, a survey was conducted to project financing loan evaluation experts. Using AHP(Analytic Hierarchy Process), factors from each items were measured by relative importance. (3) RESEARCH FINDINGS After surveying experts with experience of real estate project financing loan, by using AHP(Analytic Hierarchy Process), the importance of risk factor was measured to calculate the relative importance and management plans were drawn. 2. RESULTS On project financing evaluation through risk factors, lending organizations think bond integrity risk factors as the most important risk factors, along with financial risk, market risk, construction & developer business risk, and management risks in that order.