• International conference on construction engineering and project management
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• 2020.12a
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• pp.425-432
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• 2020

In order to improve the sustainability and smart construction, it is discussed arguably that developing and applying consistent "standard model" to plan business, design, construct and operate a building is considered to be one of the effective and efficient approach. The scope of this article is to examine, from the international developer's perspective, the "standard model" approach of a hotel brand to building projects in the UK, and also to explore potential role of project team to mitigate any local difference at the project level. These projects are developed by the same developer adopting the same business plan, design and operation to each project. In order to clarify the actual and likely difference in construction results, reference is also made to those building projects located in other geographical markets including Japan, Germany and USA, and focus is given on the analysis of its programme and cost. Principle findings are that there exists geographical difference especially in environmental and planning system, and that major local difference is found at least in the programme at the design stage. In contrast, the difference in the building cost itself may not be necessarily considered major if currency exchange rate being taken into account appropriately. It is also observed that there were cases where any difference in the programme was mitigated by taking different approach to procuring and defining roles of management and professional team at the project level. In conclusion, from the international developer's perspective, the geographical difference of the "construction system" surrounding building projects can typically lead to major prolongation of programme, however, these different construction results could be mitigated at least to a certain extent by introducing appropriate changes to the role of project team.

• International conference on construction engineering and project management
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• 2005.10a
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• pp.1237-1243
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• 2005

International construction projects are exposed to various and complicated risk factors stemming from different political, economical, social, and cultural backgrounds, which make contractors entering into international construction to experience severe losses. It implies that overseas markets do not necessarily secure the high return, which is typically expected to in the high risky attempts. Accordingly, contractors need to evaluate various risk factors faced with overseas construction projects that can possibly aggravate the profitability. This paper aims at establishing a valid groundwork for further research on developing the integrated risk management model. For this end, it analyzes the long-term trend of profitability on total of 3,487 projects performed by Korean global contractors in world-wide construction markets during the last four decades. Then, it investigates the possible factors/causes of bad profit that have affected the profitability significantly through the structured surveys of 90 real overseas projects based on the project-specific information and experiences of Korean contractors in overseas markets. Furthermore, it analyzes relative importance of these factors/causes and identifies the important features expected for the risk management of international construction projects. Finally, vital distinctions between success and failure projects and lessons learned to improve profitability are then distilled.

• International conference on construction engineering and project management
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• 2011.02a
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• pp.534-541
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• 2011

Risk evaluation approaches for bidding on international construction projects are typically partitioned into three stages: country selection, project classification, and bid-cost evaluation. However, previous studies are frequently under attack in that they have several crucial limitations: 1) a dearth of studies about country selection risk tailored for the overseas construction market at a corporate level; 2) no consideration of uncertainties for input variable per se; 3) less probabilistic approaches in estimating a range of cost variance; and 4) less inclusion of covariance impacts. This study thus suggests a three-staged risk evaluation model to resolve these inherent problems. In the first stage, a country portfolio model that maximizes the expected construction market growth rate and profit rate while decreasing market uncertainty is formulated using multi-objective genetic analysis. Following this, probabilistic approaches for screening bad projects are suggested through applying various data mining methods such as discriminant logistic regression, neural network, C5.0, and support vector machine. For the last stage, the cost overrun prediction model is simulated for determining a reasonable bid cost, while considering non-parametric distribution, effects of systematic risks, and the firm's specific capability accrued in a given country. Through the three consecutive models, this study verifies that international construction risk can be allocated, reduced, and projected to some degree, thereby contributing to sustaining stable profits and revenues in both the short-term and the long-term perspective.

• International Journal of Computer Science & Network Security
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• v.22 no.10
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• pp.262-270
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• 2022

In the past two decades, there has been an increasing interest in project knowledge management, as knowledge is a crucial resource for project management success. Knowledge capture and sharing are two effective project management practices. Capturing and sharing project knowledge has become more efficient due to technological advances. Nevertheless, present technologies face several technical, functional, and usage obstacles and constraints. Thus, Blockchain technology might provide promising answers, yet, there is still a dearth of understanding regarding the technology's proper and practical application. Consequently, the goal of this study was to fill the gap in the literature about the adoption of Blockchain technology and to investigate the project stakeholders' acceptance and willingness to utilize the technology for capturing and sharing project knowledge. Due to this inquiry's exploratory and inductive characteristics, qualitative research methodology was used, namely the Grounded Theory research approach. Accordingly, eighteen in-depth, semi-structured interviews were conducted to collect the data. Concurrent data collection and analysis were undertaken, with findings emerging after three coding steps. Four influencing factors and one moderating factor were identified as affecting users' acceptance of Blockchain technology for capturing and sharing project knowledge. Consequently, the results of the study aimed to fill a gap in the existing literature by undertaking a comprehensive analysis of the unrealized potential of Blockchain technology to improve knowledge capture and sharing in the project management environment.

• International conference on construction engineering and project management
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• 2013.01a
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• pp.451-458
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• 2013

This research documents the initial findings and recommendations for developing a risk management tool to assess and quantify the risks associated with the construction of the next generation of nuclear power plants. The proposed tool builds upon the Construction Industry Institute's International Project Risk Assessment (IPRA) Best Practice. This paper provides an overview of the investigation to assess the unique risk elements pertaining to nuclear power plant construction and documents the preliminary findings from historical project performance data to better understand the function and use of the IPRA's Relative Impact value.

• Journal of Nuclear Fuel Cycle and Waste Technology(JNFCWT)
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• v.5 no.4
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• pp.323-338
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• 2007

For the assessment of the performance and safety of a deep underground radioactive repository system, the thermal, hydraulic, mechanical, and chemical behaviors and their coupling should be studied. In order to analyze the THMC coupling behavior more effectively, which requires complex mathematical models and modelling techniques, DECOVALEX international cooperation project was launched in 1992. Since its beginning, four major stages of the project were successfully completed and THMC modelling techniques for various conditions could be developed. In this study, the current status and major achievements from the project were reviewed and possible benefits of the participation to the project were discussed.

• Journal of Engineering Education Research
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• v.15 no.4
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• pp.101-108
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• 2012

The purpose of this study is to infer how is the effect of a governmental funding project to graduate schools by taking an example of World Class University Project's potential impact on the change of world university rankings in an international university ranking survey. Systematic results show that WCU contributes to improving academic peer reviews for both individual and institutional standings and discipline-based rankings. The potential effect of improving world rankings of participating universities could be ascribed to relatively higher weight of the survey to international peer review and invitation of world class scholars to the participating universities, which is a core device of the project. This implies a need to affirmatively utilize WCU foreign scholars over the course of facilitating international academic networking. The results should also be taken into consideration by universities and the government when developing evaluation systems and restructuring the project.

• International Commerce and Information Review
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• v.6 no.3
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• pp.321-349
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• 2004

Bolero Project initially had the support of TEDIS, and now is a joint-venture between SWIFT and IT Club. After the successful testing of an original pilot project, The Bolero Association was formed in 1995 by a group of interested cross industry companies. A Bolero Bill of Lading replicates the basic functions of a paper-based bill of lading via title registry service and core messaging platform. A Bolero Bill of Lading consists of BBL Text and Title Registry Record. A Tittle Registry Record carries out the function of a document of title and a BBL may be transferred by changing the roles of users in this Title Registry Record. TEDI Project had been conducted from the April 1999 to the September 2000 on the basis of the EDEN Project(Dec.97- Mar. 1999) and International Trade Guidances Project (Nov. 1998-Mar. 1999). Through TEDI Project, the RSP Model was introduced as e-trade solution like Bolero's Solution. The RSP Model Solution will be furnished through TC (Trade Chain) Server and RSP(Repository Service Provider) Server. The purpose of this paper is to study the problems and solutions in the pilot test of electronic Bill of Lading using TEDI's RSP and to promote the introduction of electronic Bill of Lading.

• International Area Studies Review
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• v.15 no.3
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• pp.369-392
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• 2011

A pure project finance is exposed to high default risk because it is made solely based on the business value of the project. Project finance with sinking funds can reduce the high default risk, in that it uses sinking funds to ensure the principal without requiring collaterals or guarantees. In view of economic efficiency, this paper analytically compares project finance with sinking funds to usual project finance and derives the condition for its superiority in corporate tax saving. Because sinking funds generate the repayments for the principal with compounding interest rates, in terms of effectiveness, project finance with sinking funds is suitable for long-term projects whose period is longer than 10 years. Pension funds can be good sources for project finance with sinking funds, since they should be managed to ensure stable investment returns for long periods.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.9
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• pp.389-400
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• 2020

A construction project is a designed product made up of labors, materials, and installations in the project positioned on the ground and may include the underground and ground section, and the section in water or on the water surface. It is a civil, industrial, transport, agricultural and rural development, infrastructure, or some other. A key phase in the life cycle of these construction projects is the implementation when building products are made directly with workers, equipment, materials, and managers. If there is a lack of management experience, information, and problem-solving solutions to tackle the risks faced by contractors, especially foreign ones, will fail in controlling the project's cost. This study was conducted with investigations, discussions, and evaluation of the factors that lead to cost overruns in the construction projects of international contractors in Vietnam. The principal component analysis (PCA) showed that those factors that influence cost overruns these construction projects fall into five general groups, including factors related to (i) the owners, (ii) the foreign contractors, (iii) the subcontractors and suppliers, (iv) state management, and (v) the project itself. Besides, the study proposes solutions to limit cost overruns in construction projects and improve the profitability of international contractors in Vietnam.