• Title/Summary/Keyword: Project risks

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Critical Evaluation of and Suggestions for a Comprehensive Project Based on the Special Act on Seoul Metropolitan Air Quality Improvement (수도권 대기환경 개선사업-진단과 제언)

  • Baek, Sung-Ok;Koo, Youn-Seo
    • Journal of Korean Society for Atmospheric Environment
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    • v.24 no.1
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    • pp.108-121
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    • 2008
  • On January 1, 2005, the Korean Ministry of Environment put into operation a comprehensive program, so called 'Blue Sky 21' project, for the improvement of air quality in greater Seoul metropolitan area. This program was legally based on the 'Special Act on Metropolitan Air Quality Improvement' for Greater Seoul area, which was established in 2003, and should be updated every 10 years. The principal objective of this program is to improve the air quality in Seoul and surrounding area by 2014 to the levels of air quality in Tokyo and Paris, with particular emphases on reducing the concentrations of nitrogen dioxide and $PM_{10}$. Any regulation of the emission of toxic air pollutants in general, and $NO_2$ and $PM_{10}$ in particular, should be based on human exposure levels and consequential health effects. In this article, the contents and feasibility of the special program were critically evaluated with respect to the reduction of health risks. Important issues for improving not only air quality but public health are discussed, and future requirements for the success of the special program are suggested.

A Techno-Economic Feasibility Analysis on LVDC Distribution System for Rural Electrification in South Korea

  • Afamefuna, David;Chung, Il-Yop;Hur, Don;Kim, Ju-Yong;Cho, Jintae
    • Journal of Electrical Engineering and Technology
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    • v.9 no.5
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    • pp.1501-1510
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    • 2014
  • Low voltage direct current (LVDC) distribution system is a suitable techno-economic candidate which can create an innovative solution for distribution network development with respect to rural electrification. This research focuses on the use of LVDC distribution system to replace some of KEPCO's existing traditional medium voltage alternating current (MVAC) distribution network for rural electrification in South Korea. Considering the technical and economic risks and benefits involved in such project, a comparative techno-economic analysis on the LVDC and the MVAC distribution networks is conducted using economic assessment method such as the net present value (NPV) on a discounted cash flow (DCF) basis as well as the sensitivity analysis technique. Each would play a role in an economic performance indicator and a measure of uncertainty and risk involved in the project. In this work, a simulation model and a computational tool are concurrently developed and employed to aid the techno-economic analysis, evaluation, and estimation of the various systems efficiency and/or performance.

Modern High-Power TBM with Advanced Procurement System (오늘날의 고성능 TBM과 선진 장비조달 방안)

  • Jee, Warren W.
    • Tunnel and Underground Space
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    • v.23 no.3
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    • pp.161-168
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    • 2013
  • Recently, the application of High-Power mechanized tunnelling technology has been expended around the world. Especially, High-power Modern TBM machines are used in a successful results. Essential for the great success of this modern TBM in difficult rock conditions are based on the development of machine power, suitable better cutter developments, and also developed assesment technology regards on the extensive site investigations. OPP (Owner Procurement Process) system is a proven alternative contract delivery method that is potentially applicable to many tunnel projects. Using the OPP, the owner specifies and procures the TBMs and tunnel lining in advance of the tunnel contract procurement and provides TBM to a tunnel contractor with a goals of reducing project risks and accelerating project schedule. Depending on the blasting vibrations and noises, mechanized tunnelling will be more important particularly in city areas.

A Study of Analysis of Attribute and Operation based on COTS System (COTS 시스템 기반 속성 및 행위 분석에 의한 생명주기에 관한 연구)

  • Lee, Eun-Ser;Kim, Joong-Soo
    • The KIPS Transactions:PartD
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    • v.17D no.6
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    • pp.443-452
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    • 2010
  • COTS system is increasingly seen as one of the main jobs of reuse development. It involves reliability of COTS 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 COTS analysis should be documented in the project plan along with an analysis of the attribute and operation. 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 COTS development.

A Study on the Development of Construction Dispute Predictive Analytics Model - Based on Decision Tree - (PA기법을 활용한 건설분쟁 예측모델 개발에 관한 연구 - 의사결정나무를 중심으로 -)

  • Jang, Se Rim;Kim, Han Soo
    • Korean Journal of Construction Engineering and Management
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    • v.22 no.6
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    • pp.76-86
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    • 2021
  • Construction projects have high potentials of claims and disputes due to inherent risks where a variety of stakeholders are involved. Since disputes could cause losses in terms of cost and time, it is a critical issue for contractors to forecast and pro-actively manage disputes in advance in order to secure project efficiency and higher profits. The objective of the study is to develop a decision tree-based predictive analytics model for forecasting dispute types and their probabilities according to construction project conditions. It can be a useful tool to forecast potential disputes and thus provide opportunities for proactive management.

Development of a multi criteria decision analysis framework for the assessment of integrated waste management options for irradiated graphite

  • Abrahamsen-Mills, Liam;Wareing, Alan;Fowler, Linda;Jarvis, Richard;Norris, Simon;Banford, Anthony
    • Nuclear Engineering and Technology
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    • v.53 no.4
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    • pp.1224-1235
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    • 2021
  • An integrated waste management approach for irradiated graphite was developed during the European Commission project 'Treatment and Disposal of Irradiated Graphite and other Carbonaceous Waste'. This included the identification of potential options for the management of irradiated graphite, taking account of storage, retrieval, treatment and disposal methods. This paper describes how these options can be assessed using multi-criteria decision analysis (MCDA) for a case study relating to a generic power reactor. Criteria have been defined to account for safety, environmental, economic and socio-political factors, including radiological impact, resource usage, economic costs and risks. The impact of each option against each criterion has been assessed using data from the project and the wider literature. A linear additive approach has been used to convert the calculated impacts to scores. To account for the relative importance of the criteria, example weightings were allocated. This application has shown that MCDA approaches can be used to support complex decisions regarding irradiated graphite management, accounting for a wide range of criteria. Use of this approach by individual countries or organisations will need to account for the specific options, scores, weightings and constraints that apply, based on their national strategies, regulatory requirements and public acceptability.

Identification of Critical Success Factors (CSFs) for Public-Private Partnerships Across Infrastructure Sectors

  • Shrestha, Bandana;Shrestha, Pramen P.
    • International conference on construction engineering and project management
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    • 2022.06a
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    • pp.83-90
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    • 2022
  • Public-private partnerships (PPP) projects are becoming popular in both developed and developing countries due to their ability to access new financing sources and transfer certain project risks to the private sector. PPP has been an active research area where the concept of Critical Success Factors (CSF) is often discussed by researchers. This study aims to identify the CSFs for various PPP infrastructure projects that have been explored in previous CSF studies. This article reviewed the literature about CSF in PPP projects from the years 2002 to 2021, compared the findings of studies regarding the identified CSFs, and consolidated the CSFs that can be applied to various PPP infrastructure projects. The results showed that dominant research focused on general infrastructure, where CSFs can be applied to all infrastructure sectors rather than any specific sector. The most identified CSFs from the study are favorable and efficient legal frameworks, appropriate risk allocation and sharing, a robust and reliable private consortium, a competitive and transparent procurement process, and political support and stability. The findings from the study can provide an overview of CSFs that are relevant to specific PPP infrastructure sectors like building infrastructure, transportation, water, etc. as well as for general infrastructure. In addition, the results can also be used for further empirical analysis.

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A framework of examining the factors affecting public acceptance of nuclear power plant: Case study in Saudi Arabia

  • Salman M. Alzahrani;Anas M. Alwafi;Salman M. Alshehri
    • Nuclear Engineering and Technology
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    • v.55 no.3
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    • pp.908-918
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    • 2023
  • The Saudi National Atomic Energy project aims to adopt peaceful nuclear technologies and be part of the country's energy mix. As emerging nuclear energy, it is essential to understand public concerns and acceptability of nuclear energy, as well as the factors influencing acceptance to develop nuclear energy policy and implement nuclear energy programs. The purpose of this study is to analyze the public attitudes and acceptance of nuclear energy among Saudi Arabian citizens by utilizing protection motivation theory and theory of planned behavior. A total of 1,404 participants answered a questionnaire which was distribute by convenience sampling approach. A Structural Equation Modeling framework was constructed and analyzed to understand public behavior toward building the country's first Nuclear Power Plant (NPP). Before analyzing the data, the model was validated. The research concluded that the benefits of nuclear power plants were essential in determining people's acceptance of NPPs. Surprisingly, the effect of the perceived benefits was found higher than the effect of the perceived risks to the acceptance. Furthermore, the public's participation in this study revealed that the NPPs location has a significant impact on their acceptance. Based on the finding, several policy implementations were suggested. Finally, the study's model results would benefit scholars, government agencies, and the business sector in Saudi Arabia and worldwide.

A Relationship of Managing Impacts of FOREX Fluctuations and Organizational Capabilities in Construction Business

  • Mohamed, Mohd Amizan Bin;Teo, Melissa;Kajewski, Stephen;Trigunarsyah, Bambang
    • International conference on construction engineering and project management
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    • 2015.10a
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    • pp.477-480
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    • 2015
  • Construction projects are high-risk activities. When undertaking such projects in an international setting, it can be complicated by foreign exchange (FOREX) fluctuation risk. This affects the construction business performance in various ways, namely its progress due to delays, which in turn create further problems, specifically cost overruns as a result of price increase in raw materials, disputes, arbitration, litigation and even, total abandonment. Thus, the effective management of FOREX fluctuations is crucial. Previous studies have focused on the need for contract safeguards, adequate insurance, careful planning and management, as well as foreign exchange futures hedging to address some of the risks triggered by FOREX fluctuations. An analysis of FOREX fluctuations in the international construction industry revealed that more often it was focused on project-specific issues. Currently, there is a relative lack of awareness on Organizational Capabilities (OC), the abilities that owned by the organization, which is essential in managing the impact of FOREX fluctuations. Where research has focused on OC, these are viewed in isolation. Therefore, this study attempts to close the gap by proposing a framework on managing the impact of FOREX fluctuations in the international construction industry, employing the OC perspective.

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The Effective Risk Management of Academic Entrepreneurs' R&D Technology Transfer (학술적 기업가의 R&D 성과이전 위험의 효과적 관리)

  • Kim, Jai-Myung
    • Korean Business Review
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    • v.16
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    • pp.123-144
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    • 2003
  • The transfer of R&D performance is the technology transfer in a narrow sense. This study aimed at fanning the effective managerial systems of the transfer of the academic entrepreneur's R&D performance. For this purpose, this study analysed the characteristics and success factors of R&D performance transfer based on the theory of project life cycle. This research classified the life cycle of academic entrepreneurs' R&D projects into six stages. And the risks associated with the transfer process was categorized using the case study about the establishing processes the mineral-related small finns. Especially, the risk of the technology transfer was investigated by the R&D project implementation stages. Based on this results, this paper suggested the strategic system such as the marketing-oriented thinking, the clear-cut statement of the role among the stake-holders of the R&D and commercialization processes, the dynamic system of the academic entrepreneurs' leadership, the formation of the transfer management system, and the usage of project risk management techniques.

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