• Proceedings of the Korea Society for Industrial Systems Conference
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• 2008.10b
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• pp.365-384
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• 2008

Many studies on ASP outsourcing area have focused on the Critical Success Factors(CSFs) of ASP outsourcing projects or on the service quality of ASP Service. But these studies have limitations to explain how to succeed in doing ASP outsourcing project. The objective of this research is to overcome this limitation by using the concept of "IT Risk" in Outsourcing. The effective control of the risks-caused during the IS outsourcing process-gives (ASP service using) users a powerful tool to minimize the risks and thus maximizes the possibility of ASP outsourcing project success. In order to perform this objective, this research set up the research model which is composed of three concepts. The three concepts are 1. Undesirable Outcomes(:UO) as IT outsourcing Risks, 2. The Source of Risks(:SOR) influencing the UO, and 3. the intention to get/execute Real Option Portfolio to control the risk level of SORs and UOs. This research has some important and interesting implications on the ASP outsourcing area. First, this research classifies the risk factors as three concepts and finds the interactions among them. Second, Using Real Option portfolio can control the risks effectively occurred during outsourcing projects. Third, Vendors(ASP service providers) can offer users IN TIME the options which can minimize the occurrence of risks.

• Journal of the Korean Data and Information Science Society
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• v.22 no.1
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• pp.37-47
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• 2011

Stock price index option market has various investment strategies that have been developed. Specially, arbitrage strategies are very important to be efficient in option market. The purpose of this study is to improve profit using rough set and Box spread by using past option trading data. Option trading data was based on an actual stock exchange market tick data ranging from 2001 to 2006. Validation process was carried out by transferring the tick data into one-minute intervals. Box spread arbitrage strategies is low risk but low profit. It can be accomplished by back-testing of the existing strategy of the past data and by using rough set, which limit the time line of dealing. This study can make more stable profits with lower risk if control the strategy that can produces a higher profit module compared to that of the same level of risk.

• Journal of Distribution Science
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• v.13 no.2
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• pp.15-24
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• 2015

Purpose - Foreign exchange risk control is in an important component in the international supply chain management. This study shows the importance of the reference period in forecasting future exchange rates with a specific illustration of KIKO currency option contracts, and suggests feasible preventive measures. Research design, data, and methodology - Using monthly Won-Dollar exchange rate data for January 1995~July 2007, I evaluate the statistical characteristics of the exchange rate for two sub-periods; 1) a shorter period after the East Asian financial crisis and 2) a longer period including the financial crisis. The key instrument of analysis is the basic normal distribution theory. Results - The difference in the reference period could lead to an unexpected development in contract implementation and a consequent financial loss. We may avoid foreign exchange loss by using derivatives such as forwards or currency options. Conclusions - We should consider not only level values but also the volatilities of financial variables in making a binding financial contract. Appropriate measures may differ depending on the specific supply chain pattern. We may extend the study with surveys on actual risk measures.

• Journal of Ocean Engineering and Technology
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• v.27 no.2
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• pp.47-52
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• 2013

A subsea chemical injection system treats blockage problems in a subsea production system. It is important to treat problems quickly, because production delays cause fatal profit losses in a subsea production system. Therefore, the subsea industry requires a relatively higher reliability level for a production system compared to other industries. In this study, a subsea chemical injection system (linked to a control system) to inject chemicals into a subsea X-mas tree was analyzed. By using FSA (Formal Safety Assessment), the risk factors were defined and a quantitative risk analysis utilizing FTA (Fault Tree Analysis) and ETA (Event Tree Analysis) was performed. As a result, the effectiveness of a risk reduction option was evaluated.

• Journal of Trauma and Injury
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• v.36 no.3
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• pp.261-264
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• 2023

Pancreatic trauma occurs in 0.2% of patients with blunt trauma and 5% of severe abdominal injuries, which are associated with high mortality rates (up to 60%). Traumatic pancreatoduodenectomy (PD) has significant morbidity and appreciable mortality owing to complicating factors, associated injuries, and shock. The initial reconstruction in patients with severe pancreatic injuries aggravates their status by causing hypothermia, coagulopathy, and acidosis, which increase the risk for early mortality. A staging operation in which PD follows damage control surgery is a good option for hemodynamically unstable patients. We report the case of a patient who was treated by staging PD for an injured pancreatic head.

• Journal of Advanced Marine Engineering and Technology
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• v.33 no.2
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• pp.362-367
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• 2009

Formal Safety Assessment(FSA) was introduced by the IMO as "a rational and systematic process for accessing the risk related to maritime safety and the protection of the marine environment and for evaluating the costs and benefit of IMO's options for reducing these risks". FSA can be used as a tool or a rule making process to help develope new rules and regulations. The purpose of this paper is to conduct a general review of the FSA methodology and to propose ways to use it in rule making process of machinery parts.

• Journal of the Society of Naval Architects of Korea
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• v.37 no.3
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• pp.69-77
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• 2000

This study was a part of FSA study which was initiated by IMO and was applied to hatchway watertight integrity of bulk carriers. Hazards which were involved in high risk level were identified as follows. Ship Operation out of Design Criteria(Hatch Coaming Damage) and Poor Maintenance & Inspection(Securing Arrangement Damage). The potential risk was calculated by risk analysis and risk control option was made to reduce potential risk. The potential risk was about U$60,000/ship-year and could be reduced to about U$30,000/ship-year by applying RCO 1(Advanced system directly related to Hatchway Security). In addition, effectiveness of RCOs was shown by cost benefit assessment.

• The Journal of Korean Obstetrics and Gynecology
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• v.34 no.2
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• pp.62-81
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• 2021

Objectives: The purpose of this study is to review clinical studies and evaluate effectiveness of intravaginal administration of oriental medicine on vaginal atrophy in menopausal women. Methods: 'postmenopause', 'menopause', 'vaginal atrophy', 'atrophic vaginitis', 'vaginal cream', 'vaginal gel', 'pessary', 'suppository' were searched on 3 online databases (Pubmed, Cochrane Library, OASIS). The risk of bias was assessed by using Cochrane risk of bias (RoB) 2.0 tool. Results: 9 randominized controlled trials (RCTs) were selected among 489 articles. The types of intervention were intravaginal administration of oriental medicine. 6 studies showed that treatment group was better than placebo control group or both treatment group and western medicine control group improved similarly. 2 studies were not significant effective in some results and 1 study was not statistically significant. Conclusions: Intravaginal administration of oriental medicine can be an effective option in treating menopausal women with vaginal atrophy. but considering the small number and low quality of studies, further well-designed studies are needed to confirm the effectiveness of this treatment.

• Korean Journal of Construction Engineering and Management
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• v.18 no.2
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• pp.81-90
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• 2017

In Imjin River basin, three floods occurred between 1996 and 1999, causing many casualties and economic losses of 900 billion won. In Korea, flood damage is expected to increase in the future due to climate change. This study used the climate scenarios to estimate future flood damage costs and suggested a real options-based economic assessment method. Using proposed method, the flood control infrastructures in Imjin River basin were selected as a case study site to analyze the economic feasibility of the investment. Using RCP (Representative Concentration Pathway) climate scenarios, the future flood damage costs were estimated through simulated rainfall data. This study analyzed the flood reduction benefits through investment in the flood control infrastructures. The volatility of flood damage reduction benefits were estimated assuming that the RCP8.5 and RCP4.5 climate scenarios would be realized in the future. In 2071, the project option value would be determined by applying an extension option to invest in an upgrading that would allow the project to adapt to the flood of the 200-year return period. The results of the option values show that the two investment scenarios are economically feasible and the project under RCP8.5 climate scenario has more flood damage reduction benefits than RCP4.5. This study will help government decision makers to consider the uncertainty of climate change in the economic assessment of flood control infrastructures using real options analysis. We also proposed a method to quantify climate risk factors into economic values by using rainfall data provided by climate scenarios.

• Magazine of the Korean Society of Agricultural Engineers
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• v.45 no.6
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• pp.109-118
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• 2003

As a fundamental research to establish a safety operation plan for irrigation dams, this study presents hydrologic analysis conducted in Sungju Dam watershed based on various rainfall data. Especially those reservoirs without flood control feature are widely exposed to the risk of flooding, a safe and optimized operation program need to be improved against arbitrary flooding. In this study, reservoir routing program was developed and simulated for reservoir runoff estimation using WMS hydrology model. The model simulated the variations of reservoir elevation under the condition of open or closed emergency gate. In case of closed emergency gate, water surface elevation was given as 193.15 m, and this value exceeds the dam crest height by 1.65 m. When the emergency gate is open, the increment of water surface elevation is given as 192.01 m, and this value exceeds dam crest height by 0.57 m. As an alternative plan, dam height increase can be considered for flood control under the PMP (Probable Maximum Precipitation) condition. Since the dam size is relatively small compare to the watershed area, sound protection can be expected from the latter option rather than emergency gate installation.