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http://dx.doi.org/10.5345/JKIBC.2019.19.1.077

Risk Factors Analysis and Quantitative Risk Assessment Model for Plant Construction Project  

Ahn, Sung-Jin (Department of Architectural Engineering, Mokpo National University)
Kim, Tae-Hui (Department of Architectural Engineering, Mokpo National University)
Nam, Kyung-Yong (UTOP E&A)
Kim, Ji-Myong (Department of Architectural Engineering, Mokpo National University)
Publication Information
Journal of the Korea Institute of Building Construction / v.19, no.1, 2019 , pp. 77-86 More about this Journal
Abstract
Due to the increasing demand for and complexity of plant construction projects, unpredictable risk factors are on the consequent increase. For that reason, the quantitative risk analysis is being called for, in order for the development of a risk assessment model using risk indicators for the plant construction projects. This study used the claim payout data collected at a global insurance company to reflect the actual financial losses in plant construction projects as dependent variables in the risk assessment model. In terms of independent variables, the geographic information, i. e., landform, and the construction information including test-run, schedule rate, total cost and duration are adopted. In addition, this study suggests that the regression model containing such independent variables that are statistically significant can be applied to as a foundational guideline for the plant construction project risk analysis during the phase of construction and commissioning.
Keywords
plant construction; risk assessment; regression analysis; loss ratio; risk modelling;
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Times Cited By KSCI : 5  (Citation Analysis)
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