• Korean Journal of Construction Engineering and Management
• /
• v.6 no.4 s.26
• /
• pp.80-90
• /
• 2005

Activity durations retain probabilistic and stochastic natures due to diverse factors causing the delay or acceleration of activity completion. These natures make the final project duration to be a random variable. These factors are the major source of financial risk. Extending the Stochastic Project Scheduling Simulation system (SPSS) developed in previous research; this research presents a method to estimate how the final project duration behaves when activity durations change randomly. The final project cost is estimated by considering the fluctuation of indirect cost, which occurs due to the delay or acceleration of activity completion, along with direct cost assigned to an activity. The final project cost is estimated by considering how indirect cost behaves when activity duration change. The method quantifies the amount of contingency to cover the expected delay of project delivery. It is based on the quantitative analysis to obtain the descriptive statistics from the simulation outputs (final project durations). Existing deterministic scheduling method apply an arbitrary figures to the amount of delay contingency with uncertainty. However, the stochastic method developed in this research allows computing the amount of delay contingency with certainty and certain degree of confidence. An example project is used to illustrate the quantitative analysis method using simulation. When the statistical location and shape of probability distribution functions defining activity durations change, how the final project duration and cost behave are ascertained using automated sensitivity analysis method

• Journal of the Korea Safety Management & Science
• /
• v.14 no.3
• /
• pp.39-48
• /
• 2012

Risk Assessment to list possible safety disasters and their probability and severity is the starting point for effective safety management on construction project site. However, the safety managers in owners, construction supervisors, contractors, and sub-contractors still have difficulties in judging the priorities of safety activities and preparing responses to each potential safety disasters. Therefore, this study aimed to suggest a systematic method in assessing safety risk prior to commencement with the agreement of stakeholders. FMECA(failure mode effects and criticality analysis) was selected as a main assessment tool and it was modified according to the characteristics of construction projects and trades. Each risk is, firstly, evaluated with occurrence probability, possible loss and impacts to projects, and detections, and then risk priority number(RPN) is calculated. Subsequently, the managers of each stakeholder discuss the types, timing, and responsibilities of responses as a group decision-making process.

• Proceedings of the KSR Conference
• /
• 2006.11b
• /
• pp.341-344
• /
• 2006

Most construction companies recognize the necessity of risk management. The practical application, however, is not easy because of the absence of systematic procedure for risk management and the difficulty in objectification of subjective risk factors. This study suggests a systematic procedure and a web-based analysis system. In the first place for those researches, this study analyzes the present condition of risk management in the railway facility construction industry. Finally, this study defines risk management procedures as preparation, identification, analysis, response and risk analysis method to manage potential risks in the railway construction project.

• Proceedings of the Korean Operations and Management Science Society Conference
• /
• 2007.11a
• /
• pp.408-412
• /
• 2007

This paper presents, with some actual cases of employing clear case, as a R&D project configuration management tool, a new methodology for the evaluation and enhancement of project performance in R&D organization. This methodology enables you to forecast future results of the project with story telling skill, to innovate R&D project execution using the concept of Technology Supply Chain with global R&D human resources, to improve the performance of each development stage based on the voices of customer, and to enhance the quality of output and to minimize risk of project with timely positioning of R&D human resources.

• Journal of Technology Innovation
• /
• v.13 no.2
• /
• pp.223-237
• /
• 2005

This paper explains that tacit knowledge is a critical component for the success of government-led R&D project selection, where rapid and accurate decision making need to be made under lack of information circumstances. It also explores ways to fully exploit the tacit knowledge of experts participating in the Korean government's R&D project selection process. Some of these include: (1) strategic attention from the top officials, (2) forming self-organizing teams, (3) establishing a horizontal and risk-taking culture, (4) encouraging a sense of responsibility in creating and sharing tacit knowledge, and (5) providing a seamless monitoring system and training.

• 한국정보컨버전스학회:학술대회논문집
• /
• 2008.06a
• /
• pp.59-62
• /
• 2008

When performing a project, the most important thing is building a result with planned quality within development period. Particularly, if the project is delayed or has no good quality in the case of the mobile game development project which is sensitive to the release time and quality, it is immediately connected to the failure of the project. Extreme Programming is a methodology that divides the development cycle into smaller units for reducing the risk factor of the project in which the development period is important. In this paper, we suggest the Expanded Extreme Programming for mobile game development environment in which the development period and quality are important

• Proceedings of the KSR Conference
• /
• 2001.05a
• /
• pp.24-29
• /
• 2001

Despite of the introduction some sorts of the contract and the bid method like CM(Construction management) that will be efficient to manage the construction project. Korean agencies limit to control project management to do large public constructions. In the case of Taiwan, THSRC is apply J/V system in the public construction project, they are accomplishing that expend optimal the cost and save the construction time. To success J/V it has two factors, one is risk management and another is sharing information of construction project. Therefore, we will study to introduce J/V system to our construction project.

• Proceedings of the Korean Institute of Building Construction Conference
• /
• 2019.05a
• /
• pp.230-231
• /
• 2019

The nuclear power plant construction project is large-scale, has various stakeholders and computer system, and is produced and managed a large amount of information. The domestic nuclear power plant construction project has accumulated data based on many years of experience in the system. It has the competitiveness to suggeest alternatives that meet the requirement of the client in the overseas nuclear power plant project. Earned value management, which integrates schedule and cost, is possible to risk management. It was developed the earned value management system considering the the actual data properties and types of the preceding nuclear power plant construction projects. It will be able to increase the nuclaer power plant export competieiveness. Therefore, it was palned to carry out future stuies so that it be able to complement the measure to integrate cost and schedule in consideration of actual data(quantity of activity, etc.).

• International conference on construction engineering and project management
• /
• 2009.05a
• /
• pp.506-513
• /
• 2009

The Construction Industry Institute (CII) developed the Project Definition Rating Index (PDRI), as a part of their Front End Planning best practices, which helps project managers assess and measure project scope definition risk elements. U.S. Green Building Council are seeing the benefits of sustainable building and Leadership in Energy and Environmental Design certification by positively impacting life cycle costs, building marketability, and organizational productivity. However, there have been no efforts to integrate these two planning tools in construction industry. By applying a supplemental tool which combines the PDRI with the LEED rating system, construction industry can develop and implement a tailored instrument that leads to total project success in sustainability. The objective of this research is to assemble a new front end planning mechanism for green buildings by incorporating the current PDRI and LEED systems.

• International conference on construction engineering and project management
• /
• 2015.10a
• /
• pp.111-113
• /
• 2015

Floats are used by the parties involved in a construction project. The owner may use float by changing order(s) or by executing risk avoidance plan; the contractor may use it for leveling resources or substituting activities' construction methods to reduce costs. Floats are accepted either just as by-product obtained by critical path method(CPM) scheduling or as asset having significant value. Succinctly, existing studies involved in float value does not consider its' changes on project time domain. It is important to identify float ownership and to quantify its' corresponding values. This paper presents a method that quantifies float value of money that changes over project execution. The method which accurately computes the monetary value of float may contributes to resolve conflicts relative to float ownership and/or delay issues among project participants. It compares the difference between the monetary value of total float - on non-critical path in each and every schedule update. It makes use of critical path method (CPM) and commercial software with which practitioners are already familiar.