This study aims at the development of DP-Model for the establishment of monthly optimal operation policy of single multi-puppose reservoir by which the water demand of downstream can be satisfied under the various physical constraints. Series, A. B. C. of inflow are selected out of future monthly inflow data which are simulated form the past monthly average inflow of Andong dam site. the neight possible alternatives in each inflow series are established in order that Andong dam can supply the water demand of Nagdong main stream of 30% to 100%. Nextly, the reservoir rule curves is derived for each alternative by the detailed seguential analysis of stroage, future inflow and water demand based on the reservoir continuite equation. Then, and alternative which can satisfy the objective function of system based on the rule curves in the exteream is determined as an optimal operation policy from the application of developed DP=Model.