• Proceedings of the Korean Institute of Building Construction Conference
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• 2013.05a
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• pp.271-272
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• 2013

The Korean nuclear industry acquired technology for each construction stage including engineering, procurement, construction and commissioning from advanced nuclear countries. While the levels of technology and quality have greatly improved, the same cannot be said for the level of project management. In particular, the level of project performance measurement and forecasting project risk still remain at the single project management level. Thus, this paper reviewed the concept of the EVMS method and requirement for the system. The adoption of the EVMS, an advanced project management method, can enable efficient management of project risks and promote an adequate environment for project implementation.

• Journal of Construction Engineering and Project Management
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• v.5 no.1
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• pp.1-10
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• 2015

In construction, stakeholders of extended project team play a key role in the overall project performance. Successful integration of stakeholders demands for good management practices at strategic, operational and project levels. Targets and measures to improve the stakeholder performance encourage the creativity and willingness of stakeholders of extended project team to develop the better ways to achieve the project objectives. This paper presents a generic descriptive method, showing how stakeholder's ability and influence impacts on project performance in the construction sector. The findings of a series of interviews with key informants are presented and the following main conclusion is drawn: improving project performance through stakeholder's contribution and measuring their performance can strengthen the project performance. This innovative approach which redefines the process of improving the project performance in construction projects will be of interest to those who intend to manage the projects in practice as well as to those who interested in advancing theory.

• Journal of Korea Society of Industrial Information Systems
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• v.14 no.5
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• pp.83-89
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• 2009

Management of risks is critical issue in the project management and it is important to ensure that risk management is done in a sensible way. Risk analysis is an activity geared towards risk mitigation in risk management technique. Many techniques to manage, analyze and reduce risks have been done previously but only few have addressed the design analysis to reduce risk and none have attempted to analyze architecture to manage risks. In this paper we try to find a solution through various analyzing various software architectural design concepts. We follow Pressman's method of analyzing architecture design, and then alter it to identify risks which are used in risk analysis process further in risk management process. The risks assessed are analyzed later in the risk management cycle.

• Explosives and Blasting
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• v.29 no.2
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• pp.59-66
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• 2011

A variety of risks caused by natural, technological and biological hazards threaten a business continuity of an organization. Business continuity is very important issue for all organizations and its proper management may control success and failure of an organization. Business continuity plan (BCP) may be defined as a management process which provides a business continuity. BCP includes risk management, operational continuity plan, response/ recovery, exercise/study and crisis communication, etc. Risk management is a systematic method to identify, analyze, evaluate and treat emergency risks and risk assessment is composed of identifying, analyzing and evaluating emergency risks. Risk assesment is the first step for making BCP. In this study, risk assessment has been conducted for sewer laying project. Through assessing risks, 18 risks that may threaten the construction operation are identified and it is founded to be that high levels of risks which require treatment are 'collapse of excavation surface', 'breakage of ground infra-facilities', 'noise & dust dispersion' and 'rise of material costs'.

• Journal of the Korea Institute of Building Construction
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• v.10 no.4
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• pp.83-93
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• 2010

With construction projects continuously becoming more massive and complex, risk factors have been consistently increasing. To achieve a successful project, it is very important to identify and cope with such risk factors. Therefore, the purpose of this study is to suggest plans of reducing risk, not only for describing the drafting process for construction planning but also for systematically organizing constraints and risk factors in earth work, foundation work and reinforced concrete construction. To achieve these objectives, this study 1) analyzes previous theories about risk classification structure, 2) performs a case study of an actual project to embody the problems of safety management by analyzing the results of an interview with a construction engineer. In conclusion, the following factors were systematically organized: 1) characteristics of construction site (purpose, structure, floor, etc.); 2) the actual application conditions of the main construction methods; 3) the relationship between constraints and risk factors.

• International conference on construction engineering and project management
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• 2022.06a
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• pp.823-830
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• 2022

The risk of project execution increases due to the enlargement and complexity of Engineering, Procurement, and Construction (EPC) plant projects. In the fourth industrial revolution era, there is an increasing need to utilize a large amount of data generated during project execution. The design is a key element for the success of the EPC plant project. Although the design cost is about 5% of the total EPC project cost, it is a critical process that affects the entire subsequent process, such as construction, installation, and operation & maintenance (O&M). This study aims to develop a system using machine-learning (ML) techniques to predict risks and support decision-making based on big data generated in an EPC project's design and construction stages. As a result, three main modules were developed: (M1) the design cost estimation module, (M2) the design error check module, and (M3) the change order forecasting module. M1 estimated design cost based on project data such as contract amount, construction period, total design cost, and man-hour (M/H). M2 and M3 are applications for predicting the severity of schedule delay and cost over-run due to design errors and change orders through unstructured text data extracted from engineering documents. A validation test was performed through a case study to verify the model applied to each module. It is expected to improve the risk response capability of EPC contractors in the design and construction stage through this study.

• Journal of Korean Institute of Industrial Engineers
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• v.39 no.5
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• pp.429-439
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• 2013

The Korean Veterans' Pension Fund has previously pre-purchased Gibril Tower on Business Complex in Dubai, UAE, via a project-financed construction investment. Although the property is near completion, the investor syndicate's attempt to debt-finance due arrears was foiled in Dubai central bank's credit control of real estaterelated loans. Accordingly, the investment coordinator offered an additional capital injection, a collateralized leverage, and a maturity extension to the syndicate. If the syndicate rejects the offer, they may risk a nearcomplete capital loss and a possible default of the main contractor. Otherwise, the syndicate may still face uncertainties regarding interest receivables, principal re-payment, foreclosure, economic recession in Dubai, and the Islamic bond bill in the Korean Parliament. A possible exercise of the latter option may be due to the agency-prone nature of pension fund managers. Given these qualitative risk factors as at April 1, 2011, a real options approach-implied optimal decision suggests an extended and complete cash augmentation into the project finance deal.

• Nuclear Engineering and Technology
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• v.46 no.5
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• pp.595-604
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• 2014

SILER (Seismic-Initiated event risk mitigation in LEad-cooled Reactors) is a Collaborative Project, partially funded by the European Commission in the $7^{th}$ Framework Programme, aimed at studying the risk associated to seismic-initiated events in Generation IV Heavy Liquid Metal reactors, and developing adequate protection measures. The project started in October 2011, and will run for a duration of three years. The attention of SILER is focused on the evaluation of the effects of earthquakes, with particular regards to beyond-design seismic events, and to the identification of mitigation strategies, acting both on structures and components design. Special efforts are devoted to the development of seismic isolation devices and related interface components. Two reference designs, at the state of development available at the beginning of the project and coming from the $6^{th}$ Framework Programme, have been considered: ELSY (European Lead Fast Reactor) for the Lead Fast Reactors (LFR), and MYRRHA (Multi-purpose hYbrid Research Reactor for High-tech Applications) for the Accelerator-Driven Systems (ADS). This paper describes the main activities and results obtained so far, paying particular attention to the development of seismic isolators, and the interface components which must be installed between the isolated reactor building and the non-isolated parts of the plant, such as the pipe expansion joints and the joint-cover of the seismic gap.

• Proceedings of the Korean Institute of Building Construction Conference
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• 2018.11a
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• pp.124-125
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• 2018

Recently, risk analysis studies regarding the architecture development project have been carried out by applying probabilistic method. However, it had a limit that this studies was conducted in only an apartment. Therefore, the objective of this study is to develop an optimal price estimation model that can be utilized on residential officetel project by applying Monte Carlo simulation. To achieve the objective, first, the variables are selected affecting the feasibility of an officetel based on literature review. Second, causal loop diagram is constructed by arranging the relationship between variables, then the import and expense model is suggested. Third, to carry out optimized parcel price, the range limits are set for each variables then Monte Carlo simulation is performed. In the future, the developed model is expected to help decision-makers as a tool to determine both risk and feasibility of the officetel development project.

• Journal of Construction Engineering and Project Management
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• v.4 no.4
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• pp.41-46
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• 2014

Indian Construction industry is large, volatile, and requires tremendous capital outlays. Typically, the work offers low rates of return in relation to the amount of risk involved. A unique element of risk in the industry is the manner in which disputes and claims are woven through the fibre of the construction process. Delay is generally acknowledged as the most common, costly, complex and risky problem encountered in construction projects. Because of the overriding importance of time for both the Owner and the Contractor, it is the source of frequent disputes and claims leading to lawsuits. The growing rate of delays is adversely affecting the timely delivery of construction projects. Presently construction industries are facing a lot of problems, considering that a paper assess construction stakeholder's perception to the causes of delays and its effects on project delivery. And also one case study is considered in this paper to elicit responses from construction stakeholders. The primary aim of this paper is to identify the perceptions of the different parties regarding causes of delays, the allocation of responsibilities and the types of delays, and method of minimizing the construction delays.