• Title/Summary/Keyword: Project risk

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THE FUNDAMENTAL PRINCIPLES OF BOT CONTRACT DESIGN

  • Eva C. W. Sung;S. Ping Ho
    • International conference on construction engineering and project management
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    • 2005.10a
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    • pp.469-473
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    • 2005
  • Contract design plays a key role in the life cycle of BOT project. All project management activities and operation processes are arranged in consistence with the document of BOT contract which the public sector ensures that the respective roles and responsibilities set out in the contract are fully understood and fulfilled to the contracted performance criteria. With limited theories to deal with some fundamental issues of BOT contract design, we try to collect data from case studies and formulate several practical principles. The conclusions presented in this paper are analyzed from two cases, one is based on an early case in the United Kingdom, and the other based on the Taiwan High Speed Railway case. The purpose of this paper is not about covering all legal issues about BOT contract design, but rather, our work provides common considerations applicable to the contract parties of a broad range of BOT contracts. The results in this paper shall propose some fundamental principles of the BOT contract design.

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Integrating Real Options with Earned Value methods as a decision support tool for the financial evaluation of alternative construction methods

  • Bonsang Koo
    • International conference on construction engineering and project management
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    • 2013.01a
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    • pp.129-132
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    • 2013
  • Determining on a particular construction method is typically decided in the initial phases of a project. However, changing conditions during actual construction may require a different method or technology to be employed. Providing an option for project managers to change construction provides flexibility that can increase value to the overall project. This research provides the ability to modify construction methods as a real option, which allows its value to be modeled. The research also formalizes a way to integrate a binomial lattice model with the Earned Value Method's S-curve. The integrated model provides a decision support tool that planners can use to determine whether to exercise the option depending on the status metrics provided by EVM.

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Development of GIS Based Risk Assessment System for Adjacent Structures Due to Tunnelling-Induced Ground Movements in Urban (GIS기반을 이응한 도심지 터널굴착에 따른 인접 구조물 손상평가 시스템 개발)

  • 윤효석;박용원;오영석;김제규
    • Proceedings of the Korean Geotechical Society Conference
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    • 2001.03a
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    • pp.493-500
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    • 2001
  • The construction of bored tunnels in soft ground inevitably causes ground movements. In the urban environment these may be of particular significance, because of their influence on buildings, other tunnels and services. The prediction of ground movements and the assessment of the potential effects on the structures is therefore an essential aspect of planning, design and construction of a tunnelling project in the urban environment. In this study, to minimize the effect of tunnelling-Induced ground movements on the adjacent structures, a system for tile settlement risk management was developed. The GIS based risk assessment system for adjacent structures developed in this study consists of several modules such as building information module, settlement evaluation module, potential risk assessment module for adjacent structures, and analysis module for monitoring data. This system focuses on controlling and managing construction processes that may lead to settlement In the surrounding buildings and can contribute to producing the optimum technical and economic design.

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Implementation of the Module Risk Levels Measurement Tools for Web Application (웹 어플리케이션의 모듈위험수준 측정 도구의 구현)

  • Kim, Jee-Hyun;Park, Chel
    • Journal of the Korea Society of Computer and Information
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    • v.7 no.2
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    • pp.87-94
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    • 2002
  • This paper implemented the tools to measure the risk of the modules for the web application project written in ASP, using the Indicator of the Module Risk Levels. The Indicator of that is developed by GSFC group in NASA based on structural programming language and gives us software product quality metrics. The implemented tools examined with the ASP projects of the practical business. As the results the data shows the module risk levels easily, and then the data affects the maintenance to improve the application quality.

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A Study on The Risk Factors to Strengthen the Competitiveness in the Overseas Development Projects - Focused on New Town development of Developing Country - (해외 개발사업의 경쟁력향상을 위한 단계별 리스크 요인분석 - 개발도상국 신도시 개발사업을 중심으로 -)

  • Choi, Sung-Lack;Kim, Jung-Hyun;Jang, Se-Jun;Paek, Joon-Hong
    • Journal of the Korea Institute of Building Construction
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    • v.8 no.3
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    • pp.59-67
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    • 2008
  • Recently, domestic construction companies have been moving towards overseas markets due to decreasing orders and an increase in competitiveness within the domestic market. However, there is a higher risk involved in the overseas construction Industry than in the domestic construction industry. Especially, because domestic construction companies lack development's experience, such a companies have a weakness of hidden risk factors. For Overseas New Town development project's success of domestic construction companies, preferentially, It Is necessary to deduce and analysis of risk factors in real estate development phases. This study would possibly be able to provide the preliminary data for Overseas New Town development projects in the future.

Risk Analysis in Tender Stage for Successful Construction Project in China (중국건설시장에서의 성공적인 발주를 위한 입찰단계 리스크 분석)

  • Liu, Yue-Fei;Oh, Jae-Hun;Huh, Young-ki
    • Proceedings of the Korean Institute of Building Construction Conference
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    • 2015.05a
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    • pp.140-141
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    • 2015
  • Although the depression of oversea construction market becomes more serious recent years, asian construction market is relatively dynamic, particularly in china. However, few research has been conducted about how to manage construction projects in china as foreign developers. Four important risks are identified from series of surveys using the WBS-RBS method, the result shows that the main risk of tender stage is 'Tender max price error', ' Bill of quantities error', 'Unusual low price' and 'Moral risk' respectively.

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An Analysis of the Applicability of Technical Risk Index in the Weapons System Research & Development Projects (무기체계 연구개발사업에서 기술적 위험지표 적용 가능성 분석)

  • Lee, Sunhun;Kim, Minjun
    • Journal of the Korea Institute of Military Science and Technology
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    • v.20 no.6
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    • pp.835-843
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    • 2017
  • The Technology Readiness Assessment(TRA) has the advantage of identifying immature technologies in promoting weapon system research and development project. However, a more diverse set of information is required for the determination of phase shift and technical risk management for weapons system R&D projects. In this paper, we investigate the various indexes the various indexes proposed to overcome the limitations of the Technology Readiness Level(TRL) and analyze the possibility of applying to the actual weapons system R&D projects. Based on the analysis, it was possible to provide additional information that could not be presented in TRA using technical risk indexes other than TRL, confirming that it could be used for technical risk management for weapons system R&D projects.

Information for Urban Risk Management: the Role of Remote and Close Sensing

  • Hofstee, Paul;Genderen, John van
    • Proceedings of the KSRS Conference
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    • 2003.11a
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    • pp.162-164
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    • 2003
  • The multi-disciplinary research project Strengthening Local Authorities in Risk Management (SLARIM), initiated by ITC, includes three case study cities in Asia. An important question is: what are the essential data for risk management and how to access such data. The role of common sources (e.g. census data), data derived from remote sensing (high-resolution satellite imagery, aerial photos), and data from close sensing (field observation, including mobile GIS) to acquire essential risk management data will be discussed. Special attention is given to the question of the minimum area and to disaggregating population data. A few examples are given of Kathmandu / Lalitpur, Nepal.

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Microplastics in foods: the hazardous characteristics and risk on human health (식품 환경 오염 미세플라스틱의 인체 영향과 위해평가 동향)

  • Kang, Mi Seon;Kim, Hyun Jung
    • Food Science and Industry
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    • v.54 no.1
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    • pp.2-10
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    • 2021
  • Microplastics with a size of less than 5 mm have emerged as an important environmental and food safety issue, as they have been detected not only in marine but also in terrestrial ecosystem and drinking water. Although many studies have been conducted on the exposure of microplastics and the effects on human health, the lack of standardized experimental methods for microplastics has been reviewed as a major problem. In order to overcome this, European countries such as the Netherlands and Germany are conducting a project to develop detection methods for microplastics as well as to establish the risk assessment methodologies for microplastics. Being the microplastics suggested to have a substantially potential risk on human health, reliable risk assessments should be conducted considering the various sources of microplastics, chemical pollutants and biological factors. In addition, international standards and regulations should be applied.

What are the Risks of using Smart Technology in the Construction Phase?

  • Lee, Baul;Park, Seung-Kook
    • International conference on construction engineering and project management
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    • 2022.06a
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    • pp.103-110
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    • 2022
  • In the era of the 4th Industrial Revolution, smart technology being considered to improve productivity breakthroughs is in the spotlight as a means to replace traditional construction technology in the construction industry. However, various problems are occurring in construction sites using smart technology and causing negative impacts on construction projects. Therefore, the objective of this study is to identify risk factors that occur when smart technologies are used in construction projects. To achieve this purpose, this study investigated the difficulties at construction projects using smart technology, and risk factors were derived based on site surveys and literature. The risk factors were measured by experts, and then a total of 19 risk factors was derived by exploratory factor analysis. As a result, risks were classified as 5 factors, the institutional factor is the most difficult response, and the government needs anticipative system improvement and a long-term plan. The research findings provide practical implications for construction experts trying to apply smart technology in construction sites and construction policy-makers to revitalize smart technology.

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