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http://dx.doi.org/10.6106/KJCEM.2018.19.5.081

Risk Assessment and Contingency Prediction considering Work Characteristics for Modular Plant Construction Projects  

Kang, Hyunwook (The Chartered Research Institute of Construction Costs)
Kim, Jongwook (Corporation of Moo-Young Construction Management)
Kim, Yongsu (Faculty, Department of Architectural Engineering, Chung-Ang University)
Publication Information
Korean Journal of Construction Engineering and Management / v.19, no.5, 2018 , pp. 81-89 More about this Journal
Abstract
The purpose of this study is to assess the risk and predict the contingency for modular plant construction projects. Considering the work characteristics of the modular plant, The adapted research method is that suggest models for assessment impact of risk and predict the contingency considering risk. Based on the proposed models, It is selected one modular plant construction project and assessment impact of risk factors and predicted the contingency. The results of this study are as follows: Assessment the probability of occurrence of risk factors and intensity of impact, and extract 15 important risk factors. These are classified as Engineering, Procurement, Fabrication, Transportation, Construction phases to consider the work characteristics of the modular plant. The predicted contingency is that 6.739%(Engineering 2.850%, Procurement 6.225%, Fabrication 6.211%, Transportation 4.165%, Construction 8.168%) to prepare the basic business expense. The model is used as a way to derive quantitative results in the decision-making process for risk management in construction projects.
Keywords
Modular Plant; Risk Assessment; Contingency Prediction;
Citations & Related Records
Times Cited By KSCI : 1  (Citation Analysis)
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