• Title/Summary/Keyword: Contingency Factors

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Finding Significant Factors to Affect Cost Contingency on Construction Projects Using ANOVA Statistical Method -Focused on Transportation Construction Projects in the US-

  • Lhee, Sang Choon
    • Architectural research
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    • v.16 no.2
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    • pp.75-80
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    • 2014
  • Risks, uncertainties, and associated cost overruns are critical problems for construction projects. Cost contingency is an important funding source for these unforeseen events and is included in the base estimate to help perform financially successful projects. In order to predict more accurate contingency, many empirical models using regression analysis and artificial neural network method have been proposed and showed its viability to minimize prediction errors. However, categorical factors on contingency cannot have been treated and thus considered in these empirical models since those models are able to treat only numerical factors. This paper identified potential factors on contingency in transportation construction projects and evaluated categorical factors using the one-way ANOVA statistical method. Among factors including project work type, delivery method type, contract agreement type, bid award type, letting type, and geographical location, two factors of project work type and contract agreement type were found to be statistically important on allocating cost contingency.

Fast Contingency Ranking Algorithm of Power Equipment (전력설비의 신속한 상정사고 선택 앨고리즘)

  • 박규홍;정재길
    • Journal of the Korean Institute of Illuminating and Electrical Installation Engineers
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    • v.12 no.1
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    • pp.20-25
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    • 1998
  • This paper presents an algorithm for contingency ranking using line outage distribution factors(LODF) which are established by generation shift distribution factors(GSDF) from DC load flow solutions. By using the LODF, the line flow can be calculated according to the modification of base load flow if the contingency occur. To obtain faster contingency ranking, only the loading line more than 35[%](60[%] at 154[kV]) is included in the computation of Performance Index(PI). The proposed algorithm has been validated in tests on a 6-bus test system.system.

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Risk Assessment and Contingency Prediction considering Work Characteristics for Modular Plant Construction Projects (모듈러 플랜트의 업무특성을 고려한 위험 평가 및 예비비 예측)

  • Kang, Hyunwook;Kim, Jongwook;Kim, Yongsu
    • Korean Journal of Construction Engineering and Management
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    • v.19 no.5
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    • pp.81-89
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    • 2018
  • 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.

Estimation of Contingency for Highway Construction Project Using Regression Analysis (회귀분석을 이용한 고속도로 건설공사 예비비의 산정)

  • Yoon, Yoo Jung;Woo, Sungkwon
    • KSCE Journal of Civil and Environmental Engineering Research
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    • v.26 no.4D
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    • pp.617-626
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    • 2006
  • The purpose of contingency estimate is to manage the increase in construction cost and the extension of the term of works due to the inevitable occurrence of uncertain situations. The aim of contingency strategies have two intentions. One thing, can be called a passive strategy, gets ready for construction cost increase due to uncertainty factors, the other thing, can be called a active strategy, gets rid of the obstruction factors of work prior to construction performance. Therefore, from the view point of medium and long term, there is necessary to accumulate data in conjunction with design modification cases and carefully analyze uncertainty factors from construction types and characters. Therefore, this thesis will analyze design modification case at a special work such as highway and select factors that affect construction cost and present contingency estimate process using regression analysis.

An Integrative Leadership Contingency Model for the Effective Leadership (효과적인 리더십 발휘를 위한 통합적 리더십 상황 모델)

  • Shin, HyeYoung;Kwon, SangJib
    • The Journal of the Korea Contents Association
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    • v.19 no.10
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    • pp.325-340
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    • 2019
  • The purpose of this paper is to develop and suggest an integrative leadership contingency framework of leadership that will state the situational and psychological factors under which leadership effect should be maximized. Our leadership model presents that situational factors, including development, circumstances urgency and task structure, proposes which of transformational, transactional, empowering, and authentic leadership solutions. Also, our integrative leadership contingency model in turn results in a combination of the level of follower commitment, intrinsic motivation, and individual creativity based on inductive research method. This integrative leadership model suggested here has significant contributions for leadership effectiveness and future leadership research agenda. Next leadership research could experimentally examine the structural relationships between each of the leadership styles and levels of contingency and psychological factors of followers.

Contigency Ranking Technique Using Line Capacity Calculation Method (선로용량 산정법을 이용한 상정사고 선택)

  • Park, Kyu-Hong;Jung, Jai-Kil;Hyun, Seung-Bum;Lee, In-Yong;Jung, In-Hak
    • Proceedings of the KIEE Conference
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    • 2000.07a
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    • pp.285-288
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    • 2000
  • This paper presents a technique for contingency ranting using line capacity calculation method and outage distribution factors(LODF) which are established by generation shift distribution factors from DC load flow solutions. By using the LODF, the line flow can be calculated a ccording to the modification of base load flow if the contingency occur. To obtain contingency ranting, maximum power tansferred to the load is obtained when load impedance $Z_r$ equal to line impedance $Z_s$. ( $Z_r$/ $Z_s$=1) The proposed algorithm has been validated in tests on a 6-bus test system.

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Contigency Ranking Technique Using New Line Capacity (새로운 선로용량을 고려한 전력계통의 상정사고 선택)

  • Park, Kyu-Hong;Cho, Yang-Haeng
    • Proceedings of the KIEE Conference
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    • 2000.07e
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    • pp.95-98
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    • 2000
  • This paper presents a technique for contingency ranking using line capacity calculation method and outage distribution factors (LODF) which are established by generation shift distribution factors from DC load flow solutions. By using the LODF, the line flow can be calculated a ccording to the modification of base load flow if the contingency occur. To obtain contingency ranking, maximum power tansferred to the load is obtained when load impedance $Z_r$ equal to line impedance $Z_s$. The proposed algorithm has been validated in tests on a 6-bus test system.

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Entry Mode Choice of FDI Firms In Korea : The Case of USA, EU & Japan Manufacturing Firms (외국인 직접투자기업의 진입모형 선택에 관한 실증연구 (미국, EU, 일본 제조업 중심으로))

  • Kim, Chul-Yeon
    • Journal of Industrial Convergence
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    • v.1 no.1
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    • pp.71-97
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    • 2003
  • In this study, the main goal is conduct an empirical research for MNC's(multinational companies) contingency factors and entry modes. Through examining elements of success and limitations of foreign companies in the domestic market, a resulting purpose can be suggested such as developing attractive foreign investment policy. The results in this study are as below. The results from Logistic Regression Analysis there were indications for preference factors for WOS (Wholly Owned Subsidiary). The factors were 'Strategic Motivation', 'Intelligent Property', and 'Market Latent Purchasing Power'. For JV (Joint Venture) there were preferred factors such as 'Degree of Using Product Factors', 'Differential Products Development Ability', and 'Systematic Incentives'. However, this thesis is limited to identifying clear causal relationship between the 'Performance' of foreign investment enterprise which entered WOS or JV and various factors which were suggested in the contingency factors (independent variables).

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Outsourcing of Information Systems Functions : An Empirical Study of A Contingency Model (정보시스템 기능의 아웃소싱 : 상황모델의 실증적 연구)

  • Cheon, Myeon-Jung
    • Asia pacific journal of information systems
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    • v.4 no.2
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    • pp.131-164
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    • 1994
  • A contingency model of outsourcing is developed from the information systems (IS) literature and strategic management literature in order to assess the following question: What factors influence change in the extent to which an organization outsources IS functions? Based on the literature, this study identifies four IS factors-gaps in information quality, IS support quality, IS staff quality, and IS cost effectiveness-and three organizational factors-the gap in financial performance, strategic orientation, and the role of information technology in an organization-that influence the change in degree of outsourcing. These factors are hypothesized to influence the change in the extent of an organization's outsourcing of IS functions. From a mail survey of 188 top IS executives in U.S. companies, the results of analysis of covariance and bivariate correlational and multivariate regression analyses provide the following major findings: (a) This study found support for the proposed research model. (b) The change in the degree of IS outsourcing is determined by gaps in information quality, IS support quality, IS cost effectiveness, and financial performance and by the role of IT among IS and organizational factors.

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The Impact of Contingency Factors on Management Accounting Practices in Vietnam

  • PHAM, Duc Hieu;DAO, Thi Huong;BUI, Tien Dung
    • The Journal of Asian Finance, Economics and Business
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    • v.7 no.8
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    • pp.77-85
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    • 2020
  • The aim of this study is two-fold. Firstly, it attempts to assess the level of management accounting practices (MAPs) in manufacturing companies in Vietnam. Secondly, it purports to explore the impact of potential contingency factors on the current level of MAPs in the sample of studied companies from the industrial sector in Vietnam. The study examines the hypotheses that MAPs in Vietnamese manufacturing firms are affected by a range of contingent variables. A quantitative research was conducted by sending questionnaires to the target respondents that comprise both accountants and managers in 160 manufacturing enterprises in the north of Vietnam. The first main findings from the study reveal that MAPs in Vietnam are mainly traditional rather than contemporary ones, and oriented toward the short-term rather than the long-term. The second main research findings resulted from multiple regression model show that MAPs in Vietnam are significantly affected by company size, commitment of directors, advanced manufacturing technology, and distinct number of products. However, no significant associations are found between MAPs and intensity of competition from the emerging market as hypothesized in this study. Research findings are bases for recommendations to promote the application of contemporary practices and enhance management accounting functions in manufacturing companies in Vietnam.