• The KIPS Transactions:PartD
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• v.16D no.1
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• pp.105-112
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• 2009

Risk management is increasingly seen as one of the main jobs of project managers. It involves anticipating risks that might affect the project schedule or the quality of the software being developed and taking action to avoid these risks. The results of the risk analysis should be documented in the project plan along with an analysis of the consequences of a risk occurring. Effective risk management makes it easier to cope with problems and to ensure that these do not lead to unacceptable budget or schedule slippage. This research provides criteria of analysis of risk items to the estimation of process milestone on software development. Also, In this paper propose to a fixed quantity and transition phase.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.42 no.5
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• pp.681-688
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• 2022

According to a recent study, most construction companies in Korea do not manage risk effectively, and it is judged that the risk management system needs to be improved. In addition, most risk-related studies deal with risks from a macroscopic perspective, and there are few studies dealing with process risks at the project construction stage. Therefore, this study tried to suggest a risk response plan through analysis and classification of risk factors that may occur in retaining work among process risks. To this end, a workshop was held for risk experts to identify and analyze risks that may occur during the construction of retaining work for apartments. As a result of the study, it was expected that savings of KRW 4.97 billion would be possible in the 95 % confidence interval, and the maximum possible cost was reduced from KRW 15 billion to about KRW 10 billion. Based on the risk reduction ratio, it was found that risks that can be reduced without any special input cost, risks with large effects in response to risks, and risks with insignificant effects were found. Therefore, using the types and risk factors presented in this study as guides, it is expected that it will be helpful in successfully operating the project if an appropriate response strategy is prepared and systematically responded to the site conditions.

• Proceedings of the Korean Institute of Building Construction Conference
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• 2016.05a
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• pp.168-169
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• 2016

Risk management at an early stage of projects is known as an effective method expected various benefits. The PDRI(Project Definition Rating Index) by the CII(Construction Industry Institute) is defined project scope for reducing risks. In addition, the PDRI is one of the verified methods for achieving benefits by a risk management. The literature review in Korea about risk management is all about focusing on construction works and the construction phase. Thus, we need to extend the perspective of a project management such as the PDRI. To develop the Korean PDRI, However, we have to consider Korean situations. Therefore, in this study, we analyze some previous studies of PDRI' indexes and its using methods, and suggest the new direction for using PDRI in Korea. This method will enable to improve the scoring method of a project management with PDRI in Korea.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.46 no.2
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• pp.116-132
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• 2023

Technology innovation companies are focusing on contributing to business performance by R&D project as a strategic tool. Successful R&D leads to corporate competitiveness enhancement, national industrial development, but there are high uncertainty and risks in R&D. Public and private R&D projects are carried out to achieve various purposes. It was verified how the risk management and benefit management of the R&D project affect the detailed R&D project performance between the Public and private domain. The impact of Project Leadership on R&D performance was also analyzed. Those who have participated in the Public and Private R&D projects at companies or research institutes were surveyed. First, it was found that project risk and benefit management have partially an effect on R&D project performance. Second, Public and private R&D Project Leadership showed partially a interaction effect between project management and project performance.

• Journal of Korean Tunnelling and Underground Space Association
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• v.13 no.1
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• pp.19-32
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• 2011

The risk assessment is essential for tunnel design in order to minimize risks associated with uncertainty about geological conditions and tunneling method. This paper provides a comparative risk analysis of a large single bore TBM driven tunnel against sequentially excavated NATM tunnel for a mixed-face large-diameter urban tunnel project near or under a river. The focus of this assessment is on the risks associated with the tunnel excavation methods, in particular whether a TBM or NATM presents more or less risk to achieve the planned excavation duration and bring the project within the estimated bid price. First, the impacts and risks to tunnel construction under each method were discussed, and the risks were scored and ranked in the order of perceived severity and likelihood. Finally, the assessment from a risk based perspective was conducted to decide which alternate tunneling method is more likely to deliver the project with the least time and cost. It is very important to note that this study is only applied to this tunnel project with specific geological conditions and other contract requirements.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• 2008.11a
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• pp.475-480
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• 2008

In BTL project, the operation cost covering upcoming 20 years is usually alloted more than construction cost although its plan is made in short time. Therefore, it is a key issue to forecast and to analyze operation risks in the process of making contract in order to successfully finish the BTL project and to ensure the profitability of business. However, only a few domestic professional management companies are capable to carry out funding and facility management. To manage the potential risks efficiently in BLT project, it's essential to prioritize the risk factors by means of considering economical risk level, non-economical risk level and occurrence frequency. Thus, this study suggests risk analysis model for improving efficiency of BTL project from operation company's perspective by means of survey. The suggested risk analysis model is expected to establish a risk management strategy which can improve the efficiency of management affairs in BTL project.

• Journal of Construction Engineering and Project Management
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• v.6 no.2
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• pp.24-29
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• 2016

This paper elaborates the significance of scenario planning in risk management, and presents an integrated approach which takes into account the 'Risk Events' derived from scenario planning for risk prioritisation. This research integrates scenario planning with Risk Failure Mode and Effect Analysis (RFMEA) through examples from construction litigations of project schedule and cost overrun cases as a simplified approach to project risk management. The proposed methodology incorporates scenarios developed from realistic events of dispute and arbitration cases from construction projects, and thereby increasing potential to foresee risks and their effects well in advance. The results from this methodology shall be validated against outcome of survey study conducted by KPMG-PMI (2013) on project schedule and cost overruns that was based on Ministry of Statistics and Programme Implementation (MoSPI) Project Monitoring data for 2012-13.

• International conference on construction engineering and project management
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• 2007.03a
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• pp.729-738
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• 2007

The Public Private Partnership/Private Finance Initiative (PPP/PFI) schemes have made the private sector become a major participant involved in the development of infrastructure systems along with the government. Due to more integrated efforts among project participants and longer concession period, PPP/PFI projects are inherently more complex and risky. It is therefore very important to proactively manage the risks involved throughout the project life cycle. Conventional risk management strategies sometimes ignore managerial flexibility in the planning and execution process. This paper starts with a revised risk management framework which incorporates the real option concept. Following the presentation of the framework, a new risk classification is proposed which leads to different ways of structuring options in a project according to the stage of the project life cycle. Finally, the paper closes by discussing other issues concerning option modeling and negotiation.

• International conference on construction engineering and project management
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• 2015.10a
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• pp.147-149
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• 2015

A nuclear power plant construction project normally involves a large construction work of which the total project cost is over 5 trillion Won, Such a large-scale construction project has the risks of schedule delay and quality degradation due to increase in project cost, because designs are changed due to design errors. The reasons for design changes during installation are 1) insufficient engineering capability of the owner, 2) information discontinuance due to the multiple package method, and 3) inefficient constructability review processes. Accordingly, this study proposes, through problem analysis, a method of developing a constructability review system that utilizes constructability review processes and a data-based technology (3D modeling) that are optimized for nuclear power plant construction projects. It also presents a method of establishing a system for reviewing constructability in which constructability review processes and a Database (3D model, Schedule, Design change Items) are linked each other.

• New & Renewable Energy
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• v.8 no.3
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• pp.38-46
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• 2012

Enhanced Geothermal System (EGS) among geothermal system types enables to produce sustainable energy even in non-volcanic region while conventional geothermal energy has been restricted to obtain only from hot and permeable formation such as in volcanic regions. Successful EGS project in terms of economy, however, can be expected only when the project is managed effectively considering most of influencing factors (e.g., tangible and intangible resources, cost, time, risks, etc.). In particular, well construction is of the utmost importance in geothermal project as it dominantly influences on time and cost in the whole project. Therefore, when it comes to viable geothermal project without abundant experience, managing drilling economically and efficiently is inevitable. In this study, a project management system for well construction in geothermal project based on project control system including work breakdown structure and cost account was developed to predict and assess the performance of drilling and to visualize the progress.