• Proceedings of the Korean Institute Of Construction Engineering and Management
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• 2008.11a
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• pp.901-904
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• 2008

The purpose of this study is to identify the risk factors, analyze the risk factors and make a risk check list of survey in road construction. Generally. the risk management is consisted of 3 steps: risk identification, Risk analysis, Risk hedge. This study is focused on the identification of risk and analysis of risk. To identify the risk factors of survey, we used the specifications of road construction, law of survey, and check list of road construction. This study provides the risk check list of survey for road construction. This research was undertaken to analyze risk factors being determine by the FGI(Focus Group Interview) method with survey specialists.

• Korean Journal of Construction Engineering and Management
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• v.12 no.6
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• pp.65-78
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• 2011

Construction business, which is complex and long-term business, requires accurate estimation and verification in construction costs and payment procedure from project planning to the completion of construction phase. And more importantly, it is necessary to investigate and determine the risk factors related to construction costs during the entire process including design planning, construction drawings, and quantity calculating. But, currently, it is not seem to be adequate to cope with the risk and increased construction costs against the operational budget in terms of actual costs when screening and estimating the bidding cost of public apartment. Therefore, this study selected and analyzed 40 sites' report of construction completion account from 2004 to 2010 focused on the adequacy on the modification of contract and design planning and on the complication of the budget in the beginning of the project. This study deducted various risk causes and results by analyzing actual costs according to year, architectural area, region, construction cost and sale/lease classification. We could find out construction risk according to annual variation of government policy and economy, and also deducted risk items by construction characteristic according to region and architectural area. Study result, we first found out the problems of lowest price award system according to the construction costs. The weight of the cost increase risk was analyzed that subcontract and material costs are very high. Roof and tile work were analyzed highly in subcontract cost risk and reinforcing bar and cement were analyzed highly in material cost risk, among direct construction cost. Finally, this study results could be used in comparing the categories of the construction costs made by specific construction process, belonging to the construction costs, with the operational budget made in the beginning of the project that can enable to grasp unpredictable risks over the construction costs and making quantitative analysis for it through analyzing the range of fluctuation and variations led by the fluctuations in the actual construction costs.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• autumn
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• pp.485-490
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• 2003

Nowadays the rapid change in construction environment getting more globalized and complicated has caused lots of unexpected risks from inside and out of the country, so more sophisticated construction management strategies are being strongly needed. This paper suggests a risk management model with which we can estimate the appropriate contingency by quantifying the amount of probable risks immanent in large construction projects, which have a high degree of uncertainty in the anticipation of the total construction cost. To develop the model, the risk factors that make cost variations are elicited based on the real data of the contingencies assigned to the past projects. Furthermore, the influential relationship of risk factors is structured by applying the CRM(Cost Risk Model) which is the synthetic model of Monte Carlo Simulation, Influence Diagram and Decision Tree. The ultimate outcome of this research can by validated by tile case study with a large construction project performed.

• Korean Journal of Construction Engineering and Management
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• v.8 no.2
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• pp.84-92
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• 2007

To reduce uncertainties and make rational plans, the presumption of contingency against a failure of projects and an occurrence of unpredictable risks is important with accurate estimations as the work progressing. Therefore, if the presumption of contingency reflecting uncertainties carries out at a decision making point of time, be able to prepare for risks. The purpose of this paper is to present a management process of contingency through the performance analysis of project. In the cost planning phase, this study offers a process which is predictable contingency and predicts the range of fluctuation of the cost, laking an advantage of EVM in construction phase. With reflecting the results from this procedure, this study presents a process, rationally manageable contingency.

• Journal of the Korean Geotechnical Society
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• v.26 no.3
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• pp.59-68
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• 2010

Systematic risk management is necessary in grand scaled urban construction because of the existence of complicated and various risk factors. Problems of obstructions, adjacent structures, safety, environment, traffic and geotechnical properties need to be solved because urban construction is progressed in limited space not as general earthwork. Therefore the establishment of special risk management system is necessary to manage not only geotechnical properties but also social and cultural uncertainties. This research presents the technique analysis by the current state of risk management technique. Risk factors were noticed and the importance of each factor was estimated through survey. The systemically categorized database was established. Risk extraction module, matrix and score module were developed based on the database. Expected construction budget and time distribution can be computed by Monte Carlo analysis of probabilities and influences. Construction budgets and time distributions of before and after response can be compared and analyzed 80 the risks are manageable for entire whole construction time. This system will be the foundation of standardization and integration. Procurement, efficiency improvement, effective time and resource management are available through integrated management technique development and application. Conclusively decrease in cost and time is expected by systemization of project management.

• Journal of the Korea Institute of Building Construction
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• v.14 no.5
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• pp.443-449
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• 2014

Although risk reduction of construction projects have been continued, the risk of fatal accident has been increased. The purpose of this paper is to reduce the cause of the essential risk factors. Questionnaire survey of construction companies in domestic was conducted and the Multiple Regression Analysis of statistics program was used to grasp effective factors among the risk factors of construction companies in domestic. Development of the essential risk factors and its application to projects could lead to improvements such as compression of network, reduction of cost, improvement of quality and reduction of safety accident.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• autumn
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• pp.226-229
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• 2003

Construction manager must consider the possibility on the failure of the project in advance and the contingency to provide against the situation, those of which is a dangerous condition not to predict. If they have a quick decision without understanding the contingency, the over-cost in the total cost would be continuously accumulated, and be a barrier at a project going in progress. A various risk could not be coped with at a time to decide either going or sloping the project until the contingency is applied from the first step to progress the project. But a case to apply the contingency to the construction for the investment or the analysis of the project is a little. The process to evaluate it is also absent. The propose of this paper is the followed ; To establish the total cost including the risk first of all, devide into plus or minus factor of the cost, and then the process to calculate the contingency must be suggested by the regression analysis.

• Korean Journal of Construction Engineering and Management
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• v.8 no.2
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• pp.109-117
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• 2007

The construction environment has the trend of oversizing and professionalizing, the increase of the construction period, and the risk factors and the uncertain factors which are important in the construction bid. The misunderstanding and the lack of knowledge of the subcontractor result in the decrease of the profit or the deficit. In conclusion, these are supposed to give the financial burden to the subcontractor. So, it is very important to predict the construction preparation cost calculation by the risk factors in the bidding stage and to calculate the bid unit cost considering the target profit of the subcontractor in the process of the mutual agreement and performance of the contract. In these points of view, this study analyzes how the importance of the risks influencing the bidding cost calculation affect the construction cost, and this analysis can be used as the basic data to establish the suitable bid strategy of the subcontractor.

• Korean Journal of Construction Engineering and Management
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• v.6 no.4 s.26
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• pp.71-79
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• 2005

As construction projects have been extremely enormous, complex and special, risk factors have been increased consistently. Therefore, it is very important to identify and cope with the uncertain risk factors in such building constructions for successful project accomplishment. The purpose of this research is to approach practical affairs directly and show detail alternatives of risk factors by extracting the risk factors throughout construction process of curtain wall that is largely influenced on cost, quality, schedule ,safety and following activity. Also, extracting these risk factors make it possible to analyze quantitative risk and decide the priority raking of risk factors. Especially, this research is aimed to provide efficient management of scheduling risk that can make the risk minimize to practical workers who have different degree of knowledge and experience to the construction cite when the risk brings out suddenly.

• Korean Journal of Construction Engineering and Management
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• v.2 no.2 s.6
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• pp.98-108
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• 2001

This research proposes a new risk analysis model in order to guarantee successful performance of construction projects. The risk analysis model, called Construction Risk Analysis System(CRAS), is introduced to help contractors Identify project risks through RBS and through the procedures in risk analysis model. The proposed CRAS model consists of three phases. First step, CRAS model can help contractors decide whether or not they bid for a project by analysing risks involved in the project. Second step, the influence diagraming, decision tree and Monte Carlo simulation are used as tools to analyze and evaluate project risks quantitatively. Third step, Monte Carlo simulation is used to assess risk for groups of activities with probabilistic branching and calendars. Consequently, it will help contractors identify risk elements in their projects and quantify the impact of risk on project time and cost.