• Proceedings of the Korean Institute Of Construction Engineering and Management
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• 2006.11a
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• pp.571-573
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• 2006

This study suggests a reasonable method for visualizing risk management level by risk weight linked with 4D model. This study defines risk management procedures as preparation, identification, analysis, response and management to manage potential risks in the construction project. The modules for computerizing in this system consist of planning, construction, application of WBS (Work Breakdown Structure) and RBS (Risk Breakdown Structure), and risk analysis. The final results include a method for visualizing risk level by each element of the project by using 4D simulation technique. It can be used as a visualized risk management tool instead of current system using numerical data.

• Journal of Construction Engineering and Project Management
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• v.3 no.2
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• pp.21-34
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• 2013

Various risk factors affect construction projects. Due to the uncertainties created by risk factors, actual activity durations frequently deviate from the estimated durations in either favorable or adverse direction. For this reason, evaluation of schedule uncertainty is required to make decisions accurately when managing construction projects. In this regard, this paper presents a new computer simulation model - the Repetitive Schedule Risk Analysis Model (RSRAM) - to evaluate unit-based repetitive building project schedules under uncertainty when activity durations and risk factors are correlated. The proposed model utilizes Monte Carlo Simulation and a Critical Path Method based repetitive scheduling procedure. This new procedure concurrently provides the utilization of resources without interruption and the maintenance of network logic through successive units. Furthermore, it enables assigning variable production rates to the activities from one unit to another and any kind of relationship type with or without lag time. Details of the model are described and an example application is presented. The findings show that the model produces realistic results regarding the extent of uncertainty inherent in the schedule.

• Journal of Korean Society for Quality Management
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• v.41 no.2
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• pp.221-232
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• 2013

Purpose: This paper examines risk factors which affect project success, and proposes a method utilizing the average potential satisfaction index(API) to evaluate how much the satisfaction level of the personnel involved in the project can change by reducing the risk. Methods: The current study derives 11 risk factors affecting project success from literature review and conducts survey of 253 subjects who have project work experience. A modified Kano's questionnaire using 5-point Likert-scale is applied to investigate the amount of satisfaction or dissatisfaction when the risk factors are reducted or not, respectively. Results: The respondents consider that the risk factors which include the three elements of project management(schedule, quality, cost) is more important than other risk factors related to the project environment, and technology and profitability. Conclusion: The average potential satisfaction index proposed in this study can measure the perception on the risk factors of the personnel involved in the project, since it has a strong correlation with the perceived importance by the respondents in this study.

• Architectural research
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• v.11 no.2
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• pp.35-42
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• 2009

Recently, intensive urban redevelopment concentrated on new towns has reduced the number of settled population, and weakened various functions such as commercial, culture, education and welfare in old towns, and made the stagnation and declination of the entire or some parts of old towns. Urban regeneration project means renewing cities' functions in terms of physical, environmental, social, cultural, industrial and economic aspects or revitalizing the existing functions through improvement project in the entire or part of a city, which is now drawing keen attention from the public. However, urban regeneration project is huge in scale, needs long construction period and various complex facilities, and also characterized by complicated relations with many stakeholders. Due to such characteristics, there are many risks in the project. Therefore, systematic risk management is absolutely necessary to efficiently manage various risk factors inherent in urban regeneration project. The purpose of this research proposes a basic model to establish risk management plan and work process in order to help project participants to perform risk management more systematically and rationally in the development phase of urban regeneration project.

• International conference on construction engineering and project management
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• 2015.10a
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• pp.183-187
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• 2015

The Risk Management (RM) is applied for managing uncertainty of project. In this circumstance, the competences of RM have a direct effect on the performance of its application. Especially, as the RM, one of the project management areas, is a peopleoriented management field, the individual behavioral competences are significant for a risk manager. Therefore, this paper describes the development of individual behavioral competences for construction project risk manager. For this, the research classifies the individual behavioral competences of RM. And, the Exploratory Factor Analysis (EFA) are applied to verify a validity of the competences. Likewise, a reliability analysis using Cronbach's alpha values is performed to test internal consistency. Based on the results, the authors carry out the Focus Group Interview (FGI) on expert panels of construction RM to confirm the hierarchical model of the individual behavioral competences. It is concluded that the proposed hierarchical model of individual behavioral competences helps construction companies to diagnose the competences of their project risk manager for progressing.

• International conference on construction engineering and project management
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• 2007.03a
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• pp.106-118
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• 2007

Little attention has been focussed on a precise definition and evaluation mechanism for project management risk specifically related to contractors. When bidding, contractors traditionally price risks using unsystematic approaches. The high business failure rate our industry records may indicate that the current unsystematic mechanisms contractors use for building up contingencies may be inadequate. The reluctance of some contractors to include a price for risk in their tenders when bidding for work competitively may also not be a useful approach. Here, instead, we first define the meaning of contractor contingency, and then we develop a facile quantitative technique that contractors can use to estimate a price for project risk. This model will help contractors analyse their exposure to project risks; and also help them express the risk in monetary terms for management action. When bidding for work, they can decide how to allocate contingencies strategically in a way that balances risk and reward.

• Journal of the Korea Safety Management & Science
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• v.21 no.4
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• pp.7-15
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• 2019

This paper proposes the FMEA-based model to avoid backdoor transactions when purchasers select suppliers for products and services. In the model, backdoor transactions consist of two categories: backdoor selling and maverick buying. Both of which influence negative effects on cost savings due to not only uncompetitive advantage but also unusable purchasing leverage by unethical and misbehavior of purchase requestors. For the risk evaluation based on FMEA, three and five risk types of backdoor selling and maverick buying are identified respectively. Current risk priority numbers(RPN) based on those risk types are calculated by three categories: occurrence, detection and severity. Six risk mitigation strategies and fourteen mitigation tactics are identified to improve current RPN. In order to validate the model, questionnaires are collected from fifteen companies and statistically analyzed. The analysis result shows that the model reduces backdoor transaction risks and has no differences in reduction of backdoor transaction risks regardless of the type of purchasing organization units and existence of purchasing procedures in the organization.

• International Commerce and Information Review
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• v.14 no.2
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• pp.295-315
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• 2012

This paper attempts to reveal the relationships between IT capacity, SCM risk management factors and Business Performance. According to precedent studies, Our study analysed 153 cases from Korean companies which perform a supply chian risk management and then developed a structural equation model. As a result of the model test, this empirical study found that IT Infrastructure have a positively significant influence on companies' IT application and risk management. Second, there was a positive relationship between IT application and Business performance. Last and foremost, SCM risk management affects positively on Business performance. From this study, we found that investment in IT infrastructure will increase Business performance via raising risk management level, but there was less relationship between IT application level and that of risk management. For further study should be conducted for discovering effective practice factors of risk management.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• 2004.11a
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• pp.101-108
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• 2004

The results of the study include a computerized system and a systematic Process model for risk management and analysis. This study analyzes the present status of risk management in the construction industry, and then suggests reasonable methods for improved risk management plans. This study defines risk management procedures as preparation, identification, analysis, response and management to manage potential risks In the construction project. The modules for computerizing this system consist of planning, construction, application of WBS (Work Breakdown Structure) and RBS (Risk Breakdown Structure), and risk analysis. The method logy for analyzing construction risk uses fuzzy theory, and the scope of developed system is focused to the contractors. The risk management system suggested in this study operates on the Internet, for providing contractors with a useful risk management tool by online system, with web-based menus that is helpful for practical application.

• Journal of Applied Reliability
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• v.1 no.2
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• pp.109-120
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• 2001

This study reviewed the national standards for risk management to judge whether they are suitable for a product safety management program. Among the standards issued from Australia, New Zealand, Canada, Japan, and UK, the risk management guideline (AS/NZS 4360: 2000) issued jointly from both Australia and New Zealand have better features for product safety management program than any other risk management standards in view point of broad definition of risk concept including opportunities of loss and gain, stepwise composition of management processes applicable iteratively, and integrable form of structure addible to existing management practice. Comparing the three product safety management programs suggested by several authors yielded common features of product safety management program model: (1) organization for product safety, (2) risk identification, (3) risk evaluation, (4) risk treatment, (5) monitoring/communication, and (6) documentation. All of these activities can be performed within risk management framework proposed by AS/NZS 4360.