• Journal of Korean Society of Industrial and Systems Engineering
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• v.46 no.3
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• pp.221-230
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• 2023

Under increased complexity and uncertainty of overseas construction projects, it is important for construction companies to improve their own project risk management capabilities instead of risk-taking strategies to secure competitiveness in the overseas construction market. Although most of the risks occur in project execution stage, many previous studies focused on planning stage including risk identification and analysis among PRM process. Therefore, this study aims to verify the effectiveness of whole PRM process during project execution stage through empirical study on participants of overseas construction projects. As the result it was found that first, the factor directly affects the project success is the execution process of PRM. It implies that appropriate actions such as appointing charged manager for risks, timely implementation of responding plan, continuous risk monitoring and updating established plan are the key for contribution to the project success. Second, the importance of communication in PRM is also found, which is not conducted at a specific but throughout the entire PRM process and need to be managed as essential factor for successful PRM..

• International conference on construction engineering and project management
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• 2017.10a
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• pp.328-331
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• 2017

The purpose of this study is to derive construction-phase risk factors in SMEs' advance into overseas plant construction projects. For this, construction-phase risk factors were investigated on the basis of the analysis of Korean construction companies, overseas plant industry-related research institutes, and overseas data. In addition, major risk factors were derived from the investigated construction-phase risk factors, and quantitative risk factors and qualitative risk factors were analyzed and derived from these major risk factors, by the use of three rounds of the Delphi analysis.

• International conference on construction engineering and project management
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• 2009.05a
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• pp.1414-1418
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• 2009

International construction projects typically manifest difficult, complex, and varied types of risk exposures; because of this, there is a need for accurate evaluation of risk-integrated performances during the timeframe of project execution. Given the financial crisis currently affecting the world economy recession, risk management has become a more crucial part for the success of international project management. However, the majority of risk management approaches, particularly for overseas projects, are focused primarily on simple forms of checklists, formalization of risk variables affecting project performance for a specific phase, or more complicated computational methods that restricting practical utilization in real-world projects; moreover, these methods lack the conceptual basis to broadly visualize the level of risk over all phases of a project. This study suggests an efficient, yet simple risk-integrated total index to successfully assess the risk levels of overseas construction projects. To this end, this paper first investigates the life cycles and key processes of decision-making for a given project and then derives formulas to represent the total risk index (TRI) along the key decision-making processes. In addition, the study examines the relationships between TRI and performance levels based on the analysis of 126 real-world project samples. Validations using the proposed TRI showed a high correlation to project performance, signifying the usefulness of the proposed approach for construction firms when investigating the level of risks and key areas for management focus.

• Korean Journal of Construction Engineering and Management
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• v.15 no.5
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• pp.22-30
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• 2014

This study undertakes a comparative analysis of the correlation between the condition of the domestic construction market and the expansion of overseas projects within construction companies, based on the vector error correction model. The analysis results verified that, in the post-IMF crisis period, domestic construction companies took on more overseas projects only when the residential construction market slowed down. Compared to the pre-crisis period, construction companies grew more responsive to the condition of the domestic market for residential construction, and they took on more overseas construction projects when the domestic market slumped. This is because the business portfolios of Korean construction companies' render them highly vulnerable to the condition of the residential construction market. When the domestic residential market slows down, the business condition of construction companies quickly takes a turn for the worse, and to cope with this, they turn to overseas projects to compensate for the slowing of the domestic market. As the analysis shows, expanding overseas construction projects as a way to turn around business condition amid a slow residential construction market actually undermines the management of the companies even further. In other words, shifting business focus toward an overseas market during a hard time might be useful for securing cash flow, but might not help to restore profitability. Thus, construction companies need to carefully manage their level of business diversification to ensure strategic flexibility.

• Proceedings of the Korean Institute of Building Construction Conference
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• 2020.11a
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• pp.14-15
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• 2020

The circumstances of overseas construction market is developing into quite complicated and diversified trends. Construction circumstance is escaping from localization to the open competitions, and from developing countries focused to the resources developing countries. Thus, new strategies for order competitiveness improvement based on our know-hows are required to secure the order volumes. This study has analyzed domestic construction companies' order trends in overseas construction market, and proposed strategic plans through analyzing of Order Causes on overseas construction projects to improve the order competitiveness.

• Korean Journal of Construction Engineering and Management
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• v.14 no.5
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• pp.113-121
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• 2013

An expansion into the global market increasingly becomes a buzz world among Construction Management(CM) firms in Korea. The objective of this study is to identify potential obstacles and investigate their nature and implications to CM firms in Korea. The study identified 25 obstacles under 5 categories. Base on a questionnaire survey and interviews with CM experts who have global CM projects experience, the study discusses that while there exist various types of obstacles, a more attention needs to be paid for a small number of major obstacles to minimine risks in overseas CM projects. It also suggests that improving pre-construction management competency through securing CM experts should be listed as a top agenda for Korean CM firms.

• Journal of the Korea Institute of Military Science and Technology
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• v.14 no.3
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• pp.441-457
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• 2011

In this study, the axiomatic design(AD) method is applied to construct the hierarchical structure of evaluation criteria and the AHP method is used to calculate the weights of criteria in order to develop the proposal evaluation index for the overseas weapon system purchasing projects. The common evaluation items as main categories are selected through the review of evaluation criteria from the previous works and projects, relevant regulations and defense policy, and the design matrix using fuzzy concept is established and evaluated by the expert group in each design phase to determine the independency, that is the satisfaction of decoupled or uncoupled design, for each criteria in the same hierarchy when they are derived from the main categories. The establishment of decoupled or uncoupled design matrix provides mutually exclusiveness of how small number of DPs can be accounted for FRs within the same hierarchy. The proposal evaluation index developed in this study will be used as a general proposal evaluation index for the overseas weapon system purchasing projects which there are no systematically established evaluation tools.

• International conference on construction engineering and project management
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• 2009.05a
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• pp.995-999
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• 2009

Before a contractor embarks on exporting its services, it needs to know if it is likely to succeed. This research developed two prediction models to help contractors in Singapore predict the number of projects (Y1) and the contract values (Y2) that they are likely to secure from overseas. Detailed characteristics of 60 contractors who export their services (exporters) were obtained from the database of registered contractors in Singapore. Multiple linear regression models were developed and tests showed that Y1 is a robust model. A contractor's chance of winning more overseas projects may be predicted by the number of projects it acted as a subcontractor; the variety of projects it undertakes; the total contract value in the domestic market; and the number of countries it exported its services to. It is recommended that contractors who are planning to export their services be flexible instead of adopt a focused policy of undertaking only one or two project types in a few selected countries.

• The Journal of the Korea Contents Association
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• v.18 no.6
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• pp.144-154
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• 2018

While the local construction market has lost its steam in recent years, it is discussed that the overseas construction projects should be activated by using the Official Development Assistance (ODA) in terms of finding a new way. This study empirically identifies the relationship between ODA and the foreign construction orders, and discovers the effectiveness of orders for overseas construction projects using the ODA. Therefore, based on the past 25 years of time-series data on Asia, the VECM model was used to identify the relationship between the Asia country's ODA and construction orders. As a result, it has shown a lower-than-expected correlation between the value of ODA and the construction orders. There are several reasons for this; This is because profit-purpose construction projects and ODA for public welfare are fundamentally different, and the timing of ODA applications and overseas construction orders are different. Also, compared to other developed countries, Korea has far less experience and scale of ODA. At last, there are huge differences in the size of ODA and construction orders. In conclusion, although the effectiveness of overseas construction orders based on ODA was not clearly disclosed, the significance of this study is that it attempted to conduct a empirical study on the relationship between ODA and overseas construction orders. Further relationships are expected to be drawn through the accumulation of future ODA experience and the supplementation of time series data, which can provide on a theoretical and practical basis.

• Journal of Korean Society for Atmospheric Environment
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• v.29 no.1
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• pp.105-115
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• 2013

The Korean government amended the Environmental Technology and Industry Support Act to foster the environment industry and support the advancement of domestic environmental companies into overseas markets. The amended act reflects changes in the government's policies on environment related issues. This paper uses outcomes of research conducted on environmental policies in foreign countries and the current status of the domestic environment industry to present long-term strategic plans and measures to support the expansion of environmental companies into the global markets and to vitalize the environment industry at home. The suggestions for assisting domestic companies in making inroads into overseas markets are as follows: building up and expanding cooperative network; fostering promising companies and exports by making the right choices and focuses; diversification of export markets and strengthening supports for development of new customers; promoting supports for winning overseas projects; and developing cooperative projects to respond to climate change in developing countries using the Global Climate Fund (GCF).