• International conference on construction engineering and project management
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• 2011.02a
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• pp.330-334
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• 2011

Build-operate-transfer (BOT) projects are privatized infrastructure undertakings that face long-term investment risks and uncertainties. To ensure these projects can be completed on time and operated according to performance specifications, governments usually require BOT concessionaires to furnish performance bonds as a security. However, in order to attract investment, governments often provide abandonment rights for concessionaires to deal with investment risks and uncertainties. In the context of real options, these abandonment rights will increase project value, but the furnish of performance bonds will reduce this value. Currently in the BOT context, there is no real option model that can handle explicitly the impact of performance bonds on project value. In this paper, a real option valuation model is derived to deal with this important issue. The Taiwan high-speed rail project is used as a case study to show the applicability of the proposed model.

• Journal of Korea Water Resources Association
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• v.35 no.6
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• pp.651-664
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• 2002

The main purposes of dam safety assessment are to predict risk of an existing dam and to reduce the identified risks reasonably. This study determined the risks of an existing dam for each different dam breach scenario using risk analysis. In addition, the application of risk analysis in the dam safety assessment made possible to compare and evaluate a variety of alternatives that may reduce risk of an existing dam with respect to the possibility of dam failure and economic efficiency, On the ground of the risk analysis results, the dam safety analysts can obtain better understanding and more information regarding the risk of and existing dam and recommended alternatives. Decision-makers will be able to manage risk of an existing dam efficiently by spending their affordable money and resources on the alternatives that are expected to reduce the risk of an existing dam practically.

• Journal of Korean Society of Transportation
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• v.33 no.1
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• pp.100-111
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• 2015

After empirically investigating the vehicle accident risks by age groups, various programs and policies have been imposed to reduce the old's risks in other countries. In Korea, it is little known the risk level by age groups and no policy changes has been implemented even if the number of vehicle accidents occurred by the old has been rapidly rising while the total number of vehicle accidents has been decreasing. This study empirically investigates the vehicle accident risks by age groups and the results show that the old drivers over age 65 has the highest accident risk except for the young drivers below age 25. Thus, we emphasize the necessity of reinforcing the qualifications for reissuing the drive licence and programs for educating the old drivers in Korea which is facing the most rapid population aging in the world. On the other hand, various changes are needed reflecting the old drivers such as reforming the road signs, issuing a sticker and providing them incentives such that the old drivers use the public transportation instead of self-driving.

• The Journal of Information Systems
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• v.16 no.4
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• pp.243-268
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• 2007

It is critical to manage risks to complete IS(Information Systems) projects successfully. Identifying risk factors would be the first step for the project risk management. Previous research has discussed the issue with various points of view, such as different risk factors based on project types and roles involved in their projects. This paper empirically explored how people perceive different risk factors by project development methodology, between self-developing IS using programming language like C, Visual Basic and adapting software package already developed by software venders like ERP, CRM packages. There are researches regarding project risk factors for project management in the several point of views. And there are also researches regarding comparison between self-developing and adapting software packages methodology in IS project. However, there are no study on project risk factors comparison between self-developing IS using programming language and adapting software packages already developed by software venders in IS project. This research can be differentiated from previous ones, because it was considered both point of project risk management and development methodology in IS project. This research results implied meaningful messages to enterprise company to be planned IS projects and people who involved in IS projects. They should consider and need to prepare differently according to each development methodology for preventing project risks. It makes them reduce project risks in each case and complete successfully IS projects. Especially, if they have no experiences for implementing software packages, they can forecast the project risks and prepare them in advance.

• Safety and Health at Work
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• v.2 no.2
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• pp.105-121
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• 2011

Objectives: This paper presents the framework and protocol design for a construction industry risk management toolbox. The construction industry needs a comprehensive, systematic approach to assess and control occupational risks. These risks span several professional health and safety disciplines, emphasized by multiple international occupational research agenda projects including: falls, electrocution, noise, silica, welding fumes, and musculoskeletal disorders. Yet, the International Social Security Association says, "whereas progress has been made in safety and health, the construction industry is still a high risk sector." Methods: Small- and medium-sized enterprises (SMEs) employ about 80% of the world's construction workers. In recent years a strategy for qualitative occupational risk management, known as Control Banding (CB) has gained international attention as a simplified approach for reducing work-related risks. CB groups hazards into stratified risk 'bands', identifying commensurate controls to reduce the level of risk and promote worker health and safety. We review these qualitative solutions-based approaches and identify strengths and weaknesses toward designing a simplified CB 'toolbox' approach for use by SMEs in construction trades. Results: This toolbox design proposal includes international input on multidisciplinary approaches for performing a qualitative risk assessment determining a risk 'band' for a given project. Risk bands are used to identify the appropriate level of training to oversee construction work, leading to commensurate and appropriate control methods to perform the work safely. Conclusion: The Construction Toolbox presents a review-generated format to harness multiple solutions-based national programs and publications for controlling construction-related risks with simplified approaches across the occupational safety, health and hygiene professions.

• Journal of the Korea Institute of Information Security & Cryptology
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• v.21 no.5
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• pp.95-108
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• 2011

Smart Grids are intelligent next generating Electric Power System (EPS) that provide environment-friendliness, high-efficiency, and high-trustworthiness by integrating information and communication technology with electric power technology. Smart grids help to supply power more efficiently and safely than past systems by bilaterally exchanging information between the user and power producer. In addition, it alleviates environmental problems by using renewable energy resources. However, smart grids have many cyber security risks because of the bilateral service, the increase of small and medium-sized energy resources, and the installation of multi-sensors or control devices. These cyber risks can cause critical problems within a national grid through even small errors. Therefore, in order to reduce these risks, it is necessary to establish a cyber security strategy and apply it from the developmental stage to the implementation stage. This thesis analyzes and recommends security strategy in order to resolve the security risks. By applying cyber security strategy to a smart grid, it will provide a stepping-stone to creating a safe and dependable smart grid.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.44 no.2
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• pp.78-84
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• 2021

In addition to physical risks such as electrical, chemical, and mechanic ones in the workplace, psychosocial risks are also raising as an important issue in recent years in connection with human rights and work-life balance policies. The purpose of this study is to confirm the degree of effect of the psychosocial risk management plan at the workplace on workers through logistic regression analysis. Input data for logistic regression analysis is the results of a survey of 4,558 people conducted by the Institute for Occupational Safety and Health were used. There are 9 independent variables, including the change a workplace and confidential counseling, and the dependent variable is whether the worker feels the effect on the psychosocial risk management plan. As a result of this study, changes in work organization, dispute resolution procedures, provision of education program, notification of the impact of psychosocial risks on safety and health, and the persons in charge of solving psychosocial problems are shown effective in reducing worker's psychosocial risks. This study drives which of the management plans implemented to reduce the psychosocial risk of workers in the workplace are effective, so it can contribute to the development of psychosocial risk management plans in the future.

• Journal of the Korean Institute of Gas
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• v.27 no.2
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• pp.86-94
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• 2023

This study was conducted with the purpose of preparing an alternative to improving the safety of civil pressure regulators installed instead of gas governors to supply city gas to apartment houses. First, problems were derived and solutions were presented by investigating the safety standards and installation status of domestic pressure regulators. In addition, using the DNV Phast-Safeti program, a quantitative risk assessment solution, risks such as gas leakage contained in pressure regulators installed in apartment houses and surrounding gas facilities were evaluated in terms of individual risks and societal risks, and measures were derived to reduce the risks in the installation and management of the pressure regulators.

• International conference on construction engineering and project management
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• 2022.06a
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• pp.579-586
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• 2022

Modular building is a fast-growing construction method, mainly due to its ability to drastically reduce the amount of time it takes to construct a building and produce higher-quality buildings at a more consistent rate. However, while modular construction is relatively safer than traditional construction methods, workers are still exposed to hazards that lead to injuries and fatalities, and these hazards could be controlled using emerging smart technologies. Currently, limited information is available at the intersection of modular construction, safety risk, and smart safety technologies. This paper aims to investigate what aspects of modular construction are most dangerous for its workers, highlight specific risks in its processes, and propose ways to utilize smart technologies to mitigate these safety risks. Findings from the archival analysis of accident reports in Occupational Safety and Health Administration (OSHA) Fatality and Catastrophe Investigation Summaries indicate that 114 significant injuries were reported between 2002 and 2021, of which 67 were fatalities. About 72% of fatalities occurred during the installation phase, while 57% were caused by crushing and 85% of crash-related incidents were caused by jack failure/slippage. IoT-enabled wearable sensing devices, computer vision, smart safety harness, and Augment and Virtual Reality were identified as potential solutions for mitigating identified safety risks. The present study contributes to knowledge by identifying important safety trends, critical safety risk factors and proposing practical emerging methods for controlling these risks.

• Journal of the Korean Society of Safety
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• v.22 no.6
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• pp.91-97
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• 2007

A survey of risk perception in Korea was conducted in 2001 with a special emphasis on industrial and technological risks. This article summarizes the characteristics of risk perception in consideration of socio-demographic background of respondents. The survey with sample size of 1,870 evaluates the perceived level of 25 risk items in the areas of transportation, chemicals, environment, industry, and nuclear power generation. Risks are categorized by using factor analysis to clarify attitudinal or behavioral properties of risk perception. Research findings show that the level of perceived risk does not correspond to the statistical level. Socio-demographic variables are significant predictors in explaining risk perception, or the discrepancies between "subjective" and "objective" risks. Effective risk communication can reduce the perceptional discrepancies, improve the awareness of technological risks, and ultimately facilitate the process of making and implementing policies for risk management and safety regulation. This article tries to provides policy guidelines for "Who is the target for risk communication" and "Which risk has the policy priority for safety improvement." Married females at the age of 30s and 40s with lower education and lower income in small cities are more vulnerable to risk misperception than other groups. More information and knowledge regarding unfamiliar, intangible, new technological risks should be delivered to the vulnerable groups for reducing perceptional bias. Society-wide safety can be improved by integrating policy, human, and social factors as well as techno-engineering advances.