• Journal of Korean Society of Industrial and Systems Engineering
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• v.39 no.4
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• pp.72-80
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• 2016

The market size of plant projects in overseas is so large that domestic EPC project contractors are actively seeking the overseas projects and then trying to meet completion plans since successful fulfillment of these projects can provide great opportunities for them to expand into new foreign markets. International EPC projects involve all of the uncertainties common to domestic projects as well as uncertainties specific to foreign projects including marine transportation, customs, regulations, nationality, culture and so on. When overseas project gets off-schedule, the resulting uncertainty may trigger unexpected exceptions and then critical effects to the project performance. It usually require much more time and costs to encounter these exceptions in foreign sites compared to domestic project sites. Therefore, an exception handling approach is required to manage exceptions effectively for successful project progress in foreign project sites. In this research, we proposed a methodology for prediction and evaluation of exceptions caused by risks in international EPC projects based on sensitivity analysis and Bayesian Networks. First, we identified project schedule risks and related exceptions, which may meet during the fulfillment of foreign EPC projects that is performed in a sequence of engineering, procurement, preparatory manufacture, foreign shipping, construction, inspection and modification activities, and affect project performance, using literature review and expert interviews. The impact of exceptions to the schedule delay were also identified. Second, we proposed a methodology to predict the occurrence of exceptions caused by project risks and evaluate them. Using sensitivity analysis, we can identify activities that critically affect schedule delay and need to focus by priority. Then, we use Bayesian Networks to predict and evaluate exceptions. Third, we applied the proposed methodology to an international EPC project example to validate the proposed approach. Finally, we concluded the research with the further research topics. We expect that the proposed approach can be extended to apply in exception management in project management.

• International conference on construction engineering and project management
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• 2013.01a
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• pp.243-251
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• 2013

Cash management is a major concern for all contractors in the construction industry. It is arguable that cash is the most critical resource of all. A contractor needs to secure sufficient funds to navigate the project to the end, while keeping an eye on maximizing profits along the way. Past research attempted to address such topic via developing models to tackle the time-cost tradeoff problem, cash flow forecasting, and cash flow management. Yet, little was done to integrate the three aspects of cash management together. This paper, as such, presents a comprehensive model that integrates the time-cost tradeoff problem, cash flow management, and cash flow forecasting. First, the model determines the project optimal completion time by considering the different alternative construction methods available for executing project activities. Second, it investigates different funding alternatives and proposes a project-level cash management plan. Two funding alternatives are considered; they are borrowing and company own financing. The model was built as a combinatorial optimization model that utilizes ant colony search capabilities. The model also utilizes Microsoft Project software and spreadsheets to maintain an environment that incorporates activities, their durations, and other project data, in order to estimate project completion time and cost. Ant Colony Optimization algorithm was coded as a Macro program using VBA. Finally, an example project was used to test the developed model, where it acted reliably in maximizing the contractor's profit in the test project.

• Journal of Korean Society of Rural Planning
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• v.21 no.3
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• pp.47-58
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• 2015

This study aimed to explore how to lead locals to join rural downtown regeneration projects on the basis of the downtown of Obuse Town located in Nagano Prefecture in Japan. What well depicts the outcome of Obuse Town Project joined by residents are revitalized downtown districts and open gardens. Actors that facilitated residents' participation are administration, "a-la Obuse Co. Ltd. and "Machizukuri Institude of TUS and Obuse Town". "a-la- Obuse Co. Ltd." is a middle support organization in the form of community business and "Machizukuri Institute of TUS and Obuse Town" is a professional research institute set by Tokyo University of Science and Obuse Town. This study presented activities, types and roles of residents' participation in the rural town activation project that started in 2015 by researching the activities of residents, shop owners and students with regard to Obuse Town Project, administrative actions for their participation and activities of middle-level supportive institutions, which are exports' research groups.

• Journal of the Korea Safety Management & Science
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• v.9 no.2
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• pp.195-214
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• 2007

The purpose of this study is to explore the applicability of AHP(Analytic Hierarchy Process) to select more productive projects among various proposed projects in a particular company. To achieve this research objective, the characteristics of project evaluation and selection are first reviewed with respect to when, where, and how the decision is made. Then the theoretical basis of the AHP is briefly reviewed along with its mathematical underpinnings to construct the framework of project evaluation and selection. To be more specific, the evaluation and selection criteria were reorganized in the AHP-based framework to make the process of project evaluation and selection more productive. Project evaluation and selection is one of the most important activities for the most companies to be more advantageous in the market. Despite the importance of decision making process of project selection, not many of how to choose the best project were suggested as the reliable project selection methods in the industries. It may be because it involves various activities related to conflict resolution among different evaluation criteria, high uncertainties of market, and the unclear tradeoff among various project objectives. Furthermore, the decision, once made at this point, tends to be irrevocable until the whole process turns out to be a complete success or failure. As the result, the AHP method showed better financial performance rather than the traditional method in a case study.

• Journal of Climate Change Research
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• v.7 no.4
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• pp.391-396
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• 2016

This study was intended to analyze the average abatement cost (AAC) of forest carbon offset projects to suggest a basic credit price for government purchase of forest carbon credits. For this purpose, an a/reforestation project and a forest management project were designed with 30 years of project period. It is assumed to plant pine trees (Pinus densiflora) for the a/reforestation project, while it is assumed to replace rigida pine trees(Pinus rigida) with oak trees (Quercus acutissima) for the forest management project. For each project, the forest carbon stock was calculated and the revenue and the cost were analyzed with standardized management activities. Korea Forest Service has supported private forest owners the cost of management activities and the consulting fee for designing carbon offset project. Therefore, the AAC were analyzed for two cases : the one with subsidy for consulting fee (case 1) and the other with subsidy for both consulting fee and management costs (case 2). In addition, the sensitiveness of AAC was analyzed according to the 4 credit prices : ￦5,000, ￦10,000, ￦15,000 and ￦20,000. The result showed that the AAC analyzed for the case 1 was so high that net revenue would not be expected from all project types with any credit price. However the AAC analyzed for the case 2 was relatively lower than the AAC of case 1. Net revenue was expected from a/reforestation project with credit price over ￦10,000, while from forest management project with credit price over ￦15,000. Based on the AAC analyzed in this study, ￦15,000 was suggested as the basic price for government purchase of forest carbon credit.

• Journal of Korean Society for Quality Management
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• v.38 no.4
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• pp.531-539
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• 2010

Mega-Y project is very important for a company to gain a competitive advantage in markets or to achieve drastic change in the internal processes. It stems from the company strategy and annual management goals or key performance measures, and is proceeded by the cross-functional team. This paper presents the success factors and implementation process of the Mega-Y projects. The implementation process is presented in 5 steps, including project selection, cross-functional team building, establishment of the master plan, development and execution of sub-projects, and project completion. A case study on the cost reduction project of aircraft development is presented to help for the practitioners to deploy the implementation process introduced in this paper.

• Proceedings of the Korean Radioactive Waste Society Conference
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• 2004.06a
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• pp.58-71
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• 2004

Korea Research Reactor (KRR) 1＆2 has shut down and through preparatory activities, its decommissioning activities are underway. As its decommissioning activities have been done over several years, its relevant data have been spreaded with various type and media all over the discrete place and inadvertently managed, As a result, managing and assessing data of KRR 1＆2 has been difficult and complex and its data cannot be evaluated. By developing the decommissioning database system of KRR 1＆2 the data of decommissioning activities can be correctly evaluated, being systematically managed and objectively assessed. Finally, the decommissioning project of KRR 1＆2 have come to more effectively accomplished. As the data of decommissioning activities can be at last systematically analyzed and objectively assessed, the decommissioning project of KRR 1＆2 would be more effectively accomplished.

• Korean Journal of Child Education & Care
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• v.17 no.1
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• pp.29-50
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• 2017

The purpose of this study is to investigate the effects of multicultural education based on 'World Cultures' project activities on young children's multicultural acceptability and caring thinking. This study's research questions are: 1) How do 'World Cultures' project activities affect young children's multicultural acceptability?; 2) How do 'World Cultures' project activities affect young children's caring thinking? The participants were thirty-five five year olds in a day care center in Y city, Gyounggi-do and were divided into two groups. The experimental group participated in a 'World Cultures' project, whereas the control group performed activities of 'Fall' and 'World Cultures' themes of Nuri Curriculum. The measurement of multicultural acceptability was developed by Kim and Jung (2010) for elementary school students, and revised and supplemented for young children by Bak (2013). The instrument of caring thinking originated with Lipman (2003) and was translated and modified by Lee (2007). Data was analyzed using the SPSS Win 18.0, and t-tests were performed to compare the means of the two groups. Results of this study are: first, there were statistical differences in multicultural openness and multicultural relationship skills between the groups. The experimental group scores were higher than those of the control group. However, there were no significant differences in multicultural awareness and multicultural empathy. Second, there was a statistically significant difference in care thinking between the experimental group and the control group. The score for the experimental group was higher than the score for the comparative group. This result verified that "World Cultures" project activities show a positive impact on multicultural acceptability-the proper understanding and acceptance of foreign cultures. In addition, the project activities have a positive impact on caring thinking, which was related, not only to understanding and accepting other races, but also to respecting and understanding others' emotions.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.3
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• pp.53-63
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• 2022

Despite the relationship between cash flow, financial management, and project performance, no study examined the mediating role of financial management on the relationship between cash flow and construction project performance, especially in Kuwait. The goal of this study was to examine the impact of cash flow fluctuations on construction project performance, as well as the role of financial management in mediating this relationship. To accomplish these goals, the researcher employed a descriptive-analytical method to create a questionnaire of 31 items. The study's sample was chosen at random and includes (181) project managers and firm owners from contractors' companies in Kuwait. The study found a statistically positive and significant effect of cash flow variation on project performance from the perspective of Kuwaiti contractors at the significance level (0.05), as well as a mediated role of financial management in the relationship between cash flow variation and project performance. The research came up with a number of recommendations based on the findings, including the need for contractors to have a better understanding of cash flow to arrange project activities correctly and efficiently. Further studies may be included into the effect of cash flow forecasting (planning) and financial management (control) on various construction activities.

• Journal of Engineering Education Research
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• v.25 no.3
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• pp.3-10
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• 2022

An educator may utilize various pedagogies such as hands-on practice, practicum, and project-based learning to enhance a student's competency. Among various pedagogies, project-based learning is one of the well-known pedagogies that may provide similar on-the-job experience. In general, an educator may divide the students into small groups and assign tasks to check students' cooperation skills and achievements during project-based learning. However, an educator may experience difficulties operating project-based learning due to the COVID-19 pandemic. Most of the team activities are done in non-face-to-face meetings, and as a consequence, the educator may not find an underachieving team easily and cannot intervene appropriately. This study introduces a rigorous analysis method to evaluate team activities to analyze individual students' participation and contributions. First, this study develops evaluation rubrics by conducting questionnaires to professors and students to find an appropriate weight value for the evaluation scale. Then, this research introduces an analysis environment to evaluate students automatically. The analysis environment collects dialog data from social network services and measures interactions among students in a team. After measuring interactions, the environment generates a report to visualize the team activities. We applied the proposed method and environment to the capstone design course to show the effectiveness of the method and environment. Based on the case study, the environment showed that the analysis method could easily indicate the teams' activities and check the level of participation.