• Title/Summary/Keyword: Project risk

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Projecting the spatial-temporal trends of extreme climatology in South Korea based on optimal multi-model ensemble members

  • Mirza Junaid Ahmad;Kyung-sook Choi
    • Proceedings of the Korea Water Resources Association Conference
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    • 2023.05a
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    • pp.314-314
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    • 2023
  • Extreme climate events can have a large impact on human life by hampering social, environmental, and economic development. Global circulation models (GCMs) are the widely used numerical models to understand the anticipated future climate change. However, different GCMs can project different future climates due to structural differences, varying initial boundary conditions and assumptions about the physical phenomena. The multi-model ensemble (MME) approach can improve the uncertainties associated with the different GCM outcomes. In this study, a comprehensive rating metric was used to select the best-performing GCMs out of 11 CMIP5 and 13 CMIP6 GCMs, according to their skills in terms of four temporal and five spatial performance indices, in replicating the 21 extreme climate indices during the baseline (1975-2017) in South Korea. The MME data were derived by averaging the simulations from all selected GCMs and three top-ranked GCMs. The random forest (RF) algorithm was also used to derive the MME data from the three top-ranked GCMs. The RF-derived MME data of the three top-ranked GCMs showed the highest performance in simulating the baseline extreme climate which was subsequently used to project the future extreme climate indices under both the representative concentration pathway (RCP) and the socioeconomic concentration pathway scenarios (SSP). The extreme cold and warming indices had declining and increasing trends, respectively, and most extreme precipitation indices had increasing trends over the period 2031-2100. Compared to all scenarios, RCP8.5 showed drastic changes in future extreme climate indices. The coasts in the east, south and west had stronger warming than the rest of the country, while mountain areas in the north experienced more extreme cold. While extreme cold climatology gradually declined from north to south, extreme warming climatology continuously grew from coastal to inland and northern mountainous regions. The results showed that the socially, environmentally and agriculturally important regions of South Korea were at increased risk of facing the detrimental impacts of extreme climatology.

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A NEW FEEDBACK TECHNIQUE FOR TUNNEL SAFETY BY USING MEASURED DISPLACEMENTS DURING TUNNEL EXCAVATION

  • Sihyun PARK;Yongsuk SHIN;Sungkun PARK
    • International conference on construction engineering and project management
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    • 2009.05a
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    • pp.432-439
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    • 2009
  • This research project was carried out to develop the technique to assess quantitatively and rapidly the stability of a tunnel by using the measured displacement at the tunnel construction site under excavation. To achieve this purpose, a critical strain concept was introduced and applied to an assessment of a tunnel under construction. The new technique calculates numerically the strains of the surrounding ground by using the measured displacements during excavation. A numerical practical system was developed based on the proposed analysis technique in this study. The feasibility of the developed analysis module was verified by incorporating the analysis results obtained by commercial programs into the developed analysis module. To verify the feasibility of the developed analysis module, analysis results of models both elastic and elasto-plastic grounds were investigated for the circular tunnel design. Then the measured displacements obtained in the field are utilized practically to assess the safety of tunnels using critical strain concept. It was verified that stress conditions of in-situ ground and ground material properties were accurately assessed by inputting the calculated displacement obtained by commercial program into this module for the elastic ground. However for the elasto-plastic ground, analysis module can reproduce the initial conditions more closely for the soft rock ground than for the weathered soil ground. The stability of tunnels evaluated with two types of strains, that is, the strains obtained by dividing the crown displacement into a tunnel size and the strains obtained by using the analysis module. From this study, it is confirmed that the critical strain concept can be fully adopted within the engineering judgment in practical tunnel problems and the developed module can be used as a reasonable tool for the assessment of the tunnel stability in the field.

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CONSTRUCTION FINANCING AND INDUSTRY DEVELOPMENT

  • Yat-Hung, Chiang
    • International conference on construction engineering and project management
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    • 2009.05a
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    • pp.962-969
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    • 2009
  • The market of building construction has been competitive in Hong Kong, perhaps as anywhere else in the world. The barrier to entry is low because there are relatively low requirements on the three factors of production - technology, manpower and finance. The prevailing building technology is traditional and labour-intensive. There is also not much need of capital because clients' periodic payments have been the main source of project finance. Further, capitalizing on trade sub-contracting, contractors have been able to keep their direct labour-force small and to transfer much of their business risk to the sub-contractors. Based on interviews to solicit the perception of a sample of building contractors on the particular issues of construction finance, we present the findings in this paper and discuss the various implications. We believe that the current practice of construction financing is both the cause and effect of the competition within, and the competitiveness of, the building construction sector in Hong Kong. We conclude that the building construction sector is "locked or stuck" in this "equilibrium" of traditional technology, reliance on clients' finance and exploitation of sub-contracting. In this "equilibrium" state, there is hardly any motivation for contractors to engage themselves in product or process innovation. Consequently, any talk of industry reform or innovation could only remain just that. We believe that this problem is not unique in Hong Kong. The building construction sector in many other developed and developing economies is posed with similar if not the same problems and constraints. We conclude that there has to be some "external forces" to bring this "equilibrium" state to a higher level "equilibrium" one where higher value-added building construction services are supplied and demanded. This is a state where building contractors possessing innovative technology, better financial and manpower resources could thrive to build better buildings with innovative building methods and processes.

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Adding AGC Case Studies to the Educator's Tool Chest

  • Schaufelberger, John;Rybkowski, Zofia K.;Clevenger, Caroline
    • International conference on construction engineering and project management
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    • 2022.06a
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    • pp.1226-1236
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    • 2022
  • Because students majoring in construction-related fields must develop a broad repository of knowledge and skills, effective transferal of these is the primary focus of most academic programs. While inculcation of this body of knowledge is certainly critical, actual construction projects are complicated ventures that involve levels of risk and uncertainty, such as resistant neighboring communities, unforeseen weather conditions, escalating material costs, labor shortages and strikes, accidents on jobsites, challenges with emerging forms of technology, etc. Learning how to develop a level of discernment about potential ways to handle such uncertainty often takes years of costly trial-and-error in the proverbial "school of hard knocks." There is therefore a need to proactively expedite the development of a sharpened intuition when making decisions. The AGC Education and Research Foundation case study committee was formed to address this need. Since its inception in 2011, 14 freely downloadable case studies have thus far been jointly developed by an academics and industry practitioners to help educators elicit varied responses from students about potential ways to respond when facing an actual project dilemma. AGC case studies are typically designed to focus on a particular concern and topics have thus far included: ethics, site logistics planning, financial management, prefabrication and modularization, safety, lean practices, preconstruction planning, subcontractor management, collaborative teamwork, sustainable construction, mobile technology, and building information modeling (BIM). This session will include an overview of the history and intent of the AGC case study program, as well as lively interactive demonstrations and discussions on how case studies can be used both by educators within a typical academic setting, as well as by industry practitioners seeking a novel tool for their in-house training programs.

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Checklist Development for Preventing of Major Accidents of Formwork Using Gang-form (갱폼 공사 중대재해 사고 예방을 위한 체크리스트 개발)

  • Jeong Kyeongtae;Kim Siyu;Oh Jeongeun;Lee Donghoon
    • Journal of the Korea Institute of Construction Safety
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    • v.5 no.1
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    • pp.9-16
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    • 2023
  • Gang-foam is used in many construction projects because it is not only precise in terms of vertical, horizontal, and specifications, but also easy to install and dismantle. However, major accidents occur every year due to non-compliance with safety rules and work order, also manuals and checklists currently in use are insufficient. Thirty-seven surveys was conducted by analyzing major accident cases of domestic gang-form construction project and deriving 20 risk factors and 43 check points. Based on the survey, the importance and appropriateness of check points were evaluated. As a result of this study, a checklist was presented, check points were placed in the order of importance based on assembly, installation, dismantling, and lifting of the Gang-form process. The checklist was organized so that workers could comply with safety rules and work order. Through this, it is expected to prevent major accidents and contribute to efficient safety management.

MODELING ACCURATE INTEREST IN CASH FLOWS OF CONSTRUCTION PROJECTS TOWARD IMPROVED FORECASTING OF COST OF CAPITAL

  • Gunnar Lucko;Richard C. Thompson, Jr.
    • International conference on construction engineering and project management
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    • 2013.01a
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    • pp.467-474
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    • 2013
  • Construction contactors must continuously seek to improve their cash flows, which reside at the heart of their financial success. They require careful planning, analysis, and optimization to avoid the risk of bankruptcy, remain profitable, and secure long-term growth. Sources of cash include bank loans and retained earnings, which are conceptually similar in that they both incur a cost of capital. Financial management therefore requires accurate yet customizable modeling capabilities that can quantify all expenses, including said cost of capital. However, currently existing cash flow models in construction engineering and management have strongly simplified the manner in which interest is assessed, which may even lead to overstating it at a disadvantage to contractors. The variable nature of cash balances, especially in the early phases of construction projects, contribute to this challenging issue. This research therefore extends a new cash flow model with an accurate interest calculation. It utilizes singularity functions, so called because of their ability to flexibly model changes across any number of different ranges. The interest function is continuous for activity costs of any duration and allows the realistic case that activities may begin between integer time periods, which are often calendar months. Such fractional interest calculation has hitherto been lacking from the literature. It also provides insights into the self-referential behavior of compound interest for variable cash balances. The contribution of this study is twofold; augmenting the corpus of financial analysis theory with a new interest formula, whose strengths include its generic nature and that it can be evaluated at any fractional value of time, and providing construction managers with a tool to help improve and fine-tune the financial performance of their projects.

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Operational Process and Success Factors of Corporate Venture in a Chinese Company: A Case Study of Haier (중국기업의 사내벤처 운영과정과 성공요인: 하이얼(Haier) 중심으로)

  • Yu-Rou Hou;Yuan-Jing Jin;Moon-Gu Huh
    • Asia-Pacific Journal of Business
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    • v.14 no.4
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    • pp.87-113
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    • 2023
  • Purpose - Focusing on Haier, a successful corporate venture in China, we analyse the operating mechanism and success factors of corporate venture, and reveal the necessary factors for the successful implementation of corporate venture. Design/methodology/approach - This study is a single case study centred on Haier, a successful corporate venture in China. Findings - The operational process of Haier's corporate venture includes six key aspects: project selection, team building, resource allocation and support, project implementation, risk control measures, performance evaluation and rewards. In terms of success factors, the support of top management with leadership capability of value creation and sharing is very important for the success of corporate venture. Secondly, a multi reward mechanism can be introduced to motivate employees and improve performance. Thirdly, it is important to integrate corporate culture into the operating mechanism of an corporate venture. Fourthly, flexible operations that break down rigid organisational boundaries and transform the organisation into a more open platform for entrepreneurship can increase the likelihood of success. Finally, empowering employees with operational discretion can also have a positive impact on the success of an Corporate Venture. Research implications or Originality - This study contributes to theory and practice by analysing the success conditions of corporate venture, providing new understanding and drawing new perspectives, especially from the experience of Haier. The results suggest strategies and flexibility for successfully pursuing corporate venture, and provide important experience for international companies to help them gain competitive advantage in global competition. It also helps corporate leaders to promote new directions and innovations and improve their strategies to respond to dynamic environments.

The effectiveness of nursing education using immersive virtual reality or augmented reality: Systematic review and meta-analysis (간호교육에서의 몰입형 가상현실과 증강현실의 효과: 체계적 문헌고찰과 메타분석)

  • Choi, Gi Won;Woo, Minyoung;Ryu, Ahra;Kim, Jiu
    • The Journal of Korean Academic Society of Nursing Education
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    • v.30 no.3
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    • pp.197-211
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    • 2024
  • Purpose: This study aims to comprehensively assess the characteristics and effectiveness of immersive virtual reality (VR) or augmented reality (AR) in nursing education among nursing students and nurses. Methods: A thorough search was conducted in seven databases (PubMed, Embase, Cochrane Library, CINAHL, RISS, KMbase, and KoreaMed) for randomized controlled trials (RCTs) published in English or Korean before February 20, 2024. The quality of the included RCTs was assessed using the revised Cochrane Risk of Bias tool for randomized trials. A random-effects model was applied for the meta-analysis using Review Manager 5.4. Results: Out of the 15,840 studies extracted, ten were selected. Of those ten, the majority (six, 60%) were conducted on education dealing with specific nursing situations. In addition to the use of immersive VR or AR during nursing education, lectures, debriefing, and discussion processes were applied together, and device usage orientation was also provided. The meta-analyses showed that immersive VR or AR in nursing education significantly improved knowledge (standardized mean difference, SMD=2.64; 95% confidence interval, 95% CI=1.10~4.17) and skills (SMD=0.58, 95% CI=0.02~1.15). Conclusion: Immersive VR or AR in nursing education can effectively enhance knowledge and skills. However, for their development and implementation, various factors should be considered, and these findings are expected to provide valuable evidence regarding that concern.

Scheme on Environmental Risk Assessment and Management for Carbon Dioxide Sequestration in Sub-seabed Geological Structures in Korea (이산화탄소 해양 지중저장사업의 환경위해성평가관리 방안)

  • Choi, Tae-Seob;Lee, Jung-Suk;Lee, Kyu-Tae;Park, Young-Gyu;Hwang, Jin-Hwan;Kang, Seong-Gil
    • Journal of the Korean Society for Marine Environment & Energy
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    • v.12 no.4
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    • pp.307-319
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    • 2009
  • Carbon dioxide capture and storage (CCS) technology has been regarded as one of the most possible and practical option to reduce the emission of carbon dioxide ($CO_2$) and consequently to mitigate the climate change. Korean government also have started a 10-year R&D project on $CO_2$ storage in sea-bed geological structure including gas field and deep saline aquifer since 2005. Various relevant researches are carried out to cover the initial survey of suitable geological structure storage site, monitoring of the stored $CO_2$ behavior, basic design of $CO_2$ transport and storage process and the risk assessment and management related to $CO_2$ leakage from engineered and geological processes. Leakage of $CO_2$ to the marine environment can change the chemistry of seawater including the pH and carbonate composition and also influence adversely on the diverse living organisms in ecosystems. Recently, IMO (International Maritime Organization) have developed the risk assessment and management framework for the $CO_2$ sequestration in sub-seabed geological structures (CS-SSGS) and considered the sequestration as a waste management option to mitigate greenhouse gas emissions. This framework for CS-SSGS aims to provide generic guidance to the Contracting Parties to the London Convention and Protocol, in order to characterize the risks to the marine environment from CS-SSGS on a site-specific basis and also to collect the necessary information to develop a management strategy to address uncertainties and any residual risks. The environmental risk assessment (ERA) plan for $CO_2$ storage work should include site selection and characterization, exposure assessment with probable leak scenario, risk assessment from direct and in-direct impact to the living organisms and risk management strategy. Domestic trial of the $CO_2$ capture and sequestration in to the marine geologic formation also should be accomplished through risk management with specified ERA approaches based on the IMO framework. The risk assessment procedure for $CO_2$ marine storage should contain the following components; 1) prediction of leakage probabilities with the reliable leakage scenarios from both engineered and geological part, 2) understanding on physio-chemical fate of $CO_2$ in marine environment especially for the candidate sites, 3) exposure assessment methods for various receptors in marine environments, 4) database production on the toxic effect of $CO_2$ to the ecologically and economically important species, and finally 5) development of surveillance procedures on the environmental changes with adequate monitoring techniques.

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Prevalence and risk factors of subclinical bovine mastitis in some dairy farms of Sylhet district of Bangladesh

  • Kahir, Md. Abdul;Islam, Md. Mazharul;Rahman, A.K.M. Anisur;Nahar, A.;Rahman, Md. Siddiqur;Son, Hee-Jong
    • Korean Journal of Veterinary Service
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    • v.31 no.4
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    • pp.497-504
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    • 2008
  • A cross-sectional study was undertaken to report prevalence and to identify risk factors of subclinical mastitis of dairy cattle in Sylhet district of Bangladesh. Among 325 dairy farms of the district 12 farms(3.7%) were selected conveniently for this study. All the dairy cows of the 12 farms were selected for sample collection. Fresh milk samples from each of the selected dairy cows were collected aseptically in separate sterilized test tube as RF, RH, LF and LH quarter of the udder. Rapid modified White Side Test(WST) was used to detect subclinical mastitis(SCM). Results of WST and data derived from filled in questionnaire were entered in Microsoft Excel 2003 and transferred to $STATA^{(R)}$, version 8.0/Intercooled(Stata Corporation, Texas, USA, 2003). The overall prevalence of SCM and its distribution in different categories of variables in cow and their exact binomial 95% confidence intervals were calculated in $STATA^{(R)}$. Simple bivariable associations among independent variables were investigated by $x^2$ test in $STATA^{(R)}$. Multiple logistic regression analysis with backward elimination method was used to identify risk factors of SCM. To identify significant variation in quarter SCM, linear regression analysis was performed after arcsine transformation of the data. The overall prevalence of SCM found in this study is 54%. Dairy cows with teat lesions had significantly increased SCM(OR=12342, P value=0.000, 95% CI=762, 199798) than others without teat lesions. The Holstein Friesian X Jersey X Sahiwal breed has significantly decreased(OR=0.18, p=0.03, 95% CI 0.04, 0.85) SCM than other breeds. The prevalence of SCM found in this study is in agreement with others. The injury in the teat increases the probability of getting infected with microbes and thereby mastitis. If the prevalence of teat lesion can be decreased the probability of subclinical mastitis will also be decreased. The negatively associated Holstein Friesian X Jersey X Sahiwall breed may help in planning mastitis control program if this finding can be validated by a more powerful case-control or cohort study design.