• Journal of Construction Engineering and Project Management
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• v.4 no.1
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• pp.29-36
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• 2014

Tunnelling has become a preferred method of construction for road and highway projects in countries with a lot of hilly slope geological conditions such as found in Malaysia. However the construction works of a tunnelling project are usually complicated and costly, which consequently impose great risks to the parties involved. This paper identifies the key significant risks and sub-risks for tunnelling construction projects in Malaysia through a case study. Interview has been used as the solitary means to determine the significant risks from contractor's eleven key project personnel who were directly involved in the tunnelling construction such as consultant, construction manager and tunnel engineers. The importance of the risks identified is then prioritised and ranked via the Analytic Hierarchy Process (AHP)'s pairwise comparison approach to determine their criticality towards a successful delivery of project. As a result, three key risks have been identified as significant for the tunnelling case study project, namely health and safety, cost overrun in construction and time overrun in construction. Two sub-risks each of the latter categories, which are cost underestimation and unforeseen events (cost overrun in construction) as well as plant and machinery failure and delay in material delivery (time overrun in construction), have occupied the top five overall risk ranking.

• Journal of the Korea Institute of Military Science and Technology
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• v.19 no.6
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• pp.789-796
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• 2016

In the Core Technology R&D of the defence area, the development of the related core element technology could be the foundation to develop advanced weapon system in the future. But it might make various problems if you can not accurately define the TRL of the element technology. In other words, if the technology is not sufficiently mature and then the project starts, it might require an increase in the development period and additional cost. Finally the system will be in an incomplete state and result in user dissatisfaction and the project failure. Therefore it is a very important task to properly assess the TRL for a successful project. In this study, We propose the method for risk management of core technology R&D project of the defence area using the QFD process with degree of difficulty and technology readiness level. It is also presented the process to determine the risk level using TRL and Degree of difficulty. Finally We apply this method to UGV system for verifying the result of this study.

• International conference on construction engineering and project management
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• 2015.10a
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• pp.192-194
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• 2015

The growing size and complex process in construction project recently leads to increase risk and the losses as well. Even though researchers have identified the major risk indicators, there is lack of comprehensive and quantitative research for identifying the relationship between the risk indicators and economic losses associated with construction projects. To address this shortage of research, this study defines risk indicators and create a framework to assess the influence of economic losses from the indicators. An insurance company's claim payout record was accepted as the dependent variable to reflect the real economic losses. Based on the claims, we categorized the causes and results of accidents. To establish framework, built environment vulnerability indicators and geographical vulnerability indicators were employed as the risk indicators. A Pearson correlation analysis was adopted to validate the relationship with loss ratio and risk indicators. Consequently, this framework and its results may offer significant references for under writers of insurance companies and loss prevention activities.

• Korean Journal of Construction Engineering and Management
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• v.12 no.4
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• pp.97-105
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• 2011

As many stakeholders are taking part in the Housing Redevelopment Project, their opinion mediation is considering very important issues. Thus disputes on projects are inevitable due to complexity of interest. To effectively progress the project, this paper analyze the risk factors by phase in implementation phase that the association participates in person. We identify 50 of risk factors in implementation phase by reviewing and analyzing related studies and actual cases of disputes, then we present 26 of risk factors through experts interview. Also, we calculate weights of risk factors by using AHP for quantitatively analyzing them and present final weights and priorities of risk factors by summing weights of risk factors by phase. In results, it is found that 'the inappropriateness of the Management Disposal Plan' in management disposal plan phase and 'the inappropriateness of the Project Implementation Plan' are the most significant risk factors. To maximize the utilization of risk factors analyzed, we present the checklists that can be aware of these risks in advance and prevent these risks. Based on these findings, if risk factors in implementation phase are managed actively, the housing redevelopment project will be performed more effectively.

• Korean Journal of Construction Engineering and Management
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• v.9 no.5
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• pp.168-175
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• 2008

Project risk factors are major triggers in cost performance in construction projects. Both owners and contractors are highly concerned in managing their risks in earlier times. As such, it is needed to provide a robust risk evaluation methodology in identifying and assessing the potential risks before project execution. In previous research, risk identification was conducted only in specific phases, i. e., design, procurement, construction. Therefore, the comprehensive approach in risk management was limited and their quantifying method was not well-defined. Since the benefit of planning in earlier times are maximized compared to later times, the risk management should be implemented in earlier planning stage. This study provide a new risk evaluation method by incorporating previous research and extensive literature review. By quantifying each risk factor from an extensive industry survey, the proposed tool can enhance the reliability of each factor weight and also the weights are categorized from a various perspectives, i.e., owners, contractors, lager-scale company, smaller-scale company, building projects. The proposed tool can be also useful in deciding on whether to proceed a particular project and How much the project contingency would be set aside in project execution. The study findings can also expedite the risk management procedure in a more systematic approach.

• 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.

• Journal of Digital Convergence
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• v.14 no.10
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• pp.159-166
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• 2016

Recent public information project, which has been organized mainly to large companies is a situation that is being reorganized to small and medium-sized systems integration company. However, many of the small and medium-sized companies lack knowledge of the systematic risk management. Thus, in connection with the revenue, it involves a number of problems. Therefore, in this paper, we present a risk element that occurs mainly in the field of the project, providing a model for measuring the risk element by risk level costs associated with this. Through the convergence, we aim at providing a management system that is able to make the project successfully accomplished, predicting the risk that occurs in advance to pursue the project; Based on the proposed model, it is possible to secure a proper size of reserve fund so it is expected to enable companies to ensure the cost of risk analysis.

• Journal of The Korean Society of Agricultural Engineers
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• v.60 no.4
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• pp.15-25
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• 2018

The accident risk at the construction workplace associated with agricultural engineering is comparatively higher than those of other fields due mainly to its complex work types and processes. Agricultural engineering deals with a variety of agricultural infrastructures from irrigation and drainage facilities to giant-scale coastal reclamation land infrastructures. The characteristics that most agricultural projects have conducted on a small-scale even worsen the situation drawing low attentions to risk management. Therefore, systematical risk assessment that focuses on details of agricultural construction work process is required in order to enhance safety management capacity and to prevent repetitive accidents ultimately. This study aims to categorize construction work types and processes of agricultural construction works, and to quantitatively assess the accident risk of them based on accident analysis. Regarding classification of construction works, actual 827 accident cases were thoroughly reviewed and coded by their construction site, facility and work type, project scale and so on. Most accidents (71.8 % of total cases) occurred in small-scale construction workplaces with less than 5 billion Korean won project budget. And those accidents related to agricultural infrastructure project (37.4%) and agricultural water development project (22.4%). In terms of work types, accidents frequently took place in form-work followed by pipe installation work, steel bar work and concrete work. The potential risks were compared with actual outbreak of accidents based on Analytic Hierarchy Process (AHP). The results show that the potential conditions of accident expected to be took place is somewhat different from the actual conditions where accidents actually happened. This implicates that risk management manuals or education needs to be adjusted by reflecting unexpected circumstances. Overall, this study is meaningful in that the results could be foundations as to strengthen risk management capacity for agricultural engineering projects.

• Korean Journal of Construction Engineering and Management
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• v.19 no.1
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• pp.54-64
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• 2018

Currently, as construction businesses develop and diversity, risk became one of the most crucial considerations. Risks are potential and difficult to predict by nature. Also, they are important as they influence delay in construction period and increase of project costs. In construction projects in South Korea and elsewhere, the importance of risk management widely recognized and relevant research is being conducted continuously. The companies use PRM checklist but apply different criteria and items. For efficient risk management in plants, plant PRM checklist is necessary. This study analyzed risk factors that are taken into account in construction projects and proposed a plant PRM checklist based on case analysis and opinions of experts. Also, it rated the frequency and importance of each risk.

• Proceedings of the Korean Institute of Building Construction Conference
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• 2010.05b
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• pp.85-89
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• 2010

The propose of this research is derive project management factors and evaluate its decision weight in LNG plant EPC phases. In order to research, we studied the demestic and international research trend and analysed expert opinions. Initially we derived nine project management factors in each phase of EPC. Elicited factors in research are project management, design management, cost management, time management, contract and craim management, safety management, environment management, and risk management. Then, we evaluated the weight of project management factors with expert survey method and elicitated. Finally, The remarkable points in the result are that key management factors of EPC project are project management and risk management.