• International conference on construction engineering and project management
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• 2009.05a
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• pp.1591-1598
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• 2009

Recently, the researches on the urban regeneration projects have been performed very actively. It is a part of the effort that solves some social and economical problems occurred by deteriorated buildings and degraded infrastructures through new urban regeneration projects or redevelopment projects. However, the urban regeneration projects show the characteristics that can not guarantee in the project performance because the projects have various and complex stakeholders related to these projects and are exposed to lots of risks due to its huge scale. This study proposed the risk performance index method to improve the efficiency of the overall performance measurement for a mega-project by extending from the traditional cost/schedule based performance measurement system. The risk performance index method proposed in this study has a similar system to the EVMS, and makes possible to perform a three dimensional integrated performance measurement in cost/schedule/risk through 18 different indexes that compose the risk performance index.

• Architectural research
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• v.12 no.1
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• pp.57-64
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• 2010

In recent years, interests and studies on the urban regeneration projects have been increased and largely conducted. It is a part of the effort that solves some social and economical problems occurred by deteriorated buildings and degraded infrastructures through new urban regeneration projects or redevelopment projects. However, the urban regeneration projects show the characteristics that can not guarantee in the project performance because the projects have various and complex stakeholders related to these projects and are exposed to lots of risks due to its huge scale. This study proposed the risk performance index method to improve the efficiency of the overall performance measurement for a mega-project by extending from the traditional cost/schedule based performance measurement system. The risk performance index method proposed in this study has a similar system to the EVMS, and makes possible to perform a three dimensional integrated performance measurement in cost/schedule/risk through 18 different indexes that compose the risk performance index.

• The Transactions of the Korean Institute of Electrical Engineers A
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• v.53 no.9
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• pp.487-493
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• 2004

The electric power industry throughout the world is undergoing considerable changes from the vertically integrated utility structure to the deregulated market. However, the deregulated electricity market is operated with respect to theory of economical efficiency, and therefore, the system operator requires data with fast contingency ranking for security of the bulk power system. This paper compares the weather dependant probabilistic risk index(PRI) with the system performance index for power flow in the IEEE-RTS. The system performance index for power flow presents the power system stability. This paper presents fast calculation method for determining contingency ranking using the weather dependant probabilistic risk index(PRI). The probabilistic risk index can be classified into the case of normal and adverse weather. This paper proposes calculation method using the probabilistic risk index in determining contingency ranking required for security under the deregulated electricity market.

• Applied Chemistry for Engineering
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• v.32 no.2
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• pp.197-204
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• 2021

This study investigated the smoke risk assessment of woods and plastics for construction materials, focusing on the smoke performance index-V (SPI-V), smoke growth index-V (SGI-V), and smoke risk index-VI (SRI-VI) according to a newly designed methodology. Spruce, Lauan, polymethylmethacrylate (PMMA), and polycarbonate (PC) were used for test pieces. Smoke characteristics of the materials were measured using a cone calorimeter (ISO 5660-1) equipment. The smoke performance index-V calculated after the combustion reaction was found to be 1.0 to 3.4 based on PMMA. Smoke risk by smoke performance index-V was increased in the order of PC, Spruce, Lauan and PMMA. Lauan and PMMA showed similar values. The smoke growth index-V was found to be 1.0 to 9.2 based on PMMA. Smoke risk by smoke growth index-V increased in the order of PMMA, PC, Spruce, and Lauan. COpeak production rates of all specimens were measured between 0.0021 to 0.0067 g/s. In conclusion, materials with a low smoke performance index-V and a high smoke growth index-V cause a high smoke risk from fire. Therefore, it is understood that the smoke risk from fire is high. It is collectively summarized by the smoke risk index-VI.

• Nuclear Engineering and Technology
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• v.43 no.2
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• pp.105-132
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• 2011

The concept of improved performance indicators (PIs) for use in the KINS Safety Performance Indicator (SPI) program for reactor safety area is proposed in this paper. To achieve this, the recently developed PIs from the USNRC that use risk information were investigated, and a feasibility study for the application of these PIs in Korean NPPs was performed. The investigated PIs are Baseline Risk Index for Initiating Events (BRIIE), Unplanned Scrams with Complications (USwC), and Mitigating System Performance Index (MSPI). Moreover, the thresholds of the existing safety performance indicators of KINS were evaluated in consideration of the risk and regulatory response to different levels of licensee performance in the graded inspection program.

• Korean Journal of Construction Engineering and Management
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• v.10 no.1
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• pp.69-77
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• 2009

Recently, a research of the urban regeneration has been performed very actively. This is one of the efforts to resolve various social and economic problems coming from the existing deteriorated building and facilities by new urban development or redevelopment. However, an urban regeneration has a characteristic to be unable to ensure the project performance due to the exposed numerous risks coming from the various and complex stake-holders, and its mega sizes. This paper proposes the method of risk performance index in order to improve an efficiency of performance measurement expanding to the risk view point from the existing integrated cost/schedule performance measurement. A risk performance index is compatible with the existing EVMS, and can make the performance measurement in 3 dimensions of the integrated cost/schedule/risk with 18 sub-indexes and variables.

• International conference on construction engineering and project management
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• 2009.05a
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• pp.1414-1418
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• 2009

International construction projects typically manifest difficult, complex, and varied types of risk exposures; because of this, there is a need for accurate evaluation of risk-integrated performances during the timeframe of project execution. Given the financial crisis currently affecting the world economy recession, risk management has become a more crucial part for the success of international project management. However, the majority of risk management approaches, particularly for overseas projects, are focused primarily on simple forms of checklists, formalization of risk variables affecting project performance for a specific phase, or more complicated computational methods that restricting practical utilization in real-world projects; moreover, these methods lack the conceptual basis to broadly visualize the level of risk over all phases of a project. This study suggests an efficient, yet simple risk-integrated total index to successfully assess the risk levels of overseas construction projects. To this end, this paper first investigates the life cycles and key processes of decision-making for a given project and then derives formulas to represent the total risk index (TRI) along the key decision-making processes. In addition, the study examines the relationships between TRI and performance levels based on the analysis of 126 real-world project samples. Validations using the proposed TRI showed a high correlation to project performance, signifying the usefulness of the proposed approach for construction firms when investigating the level of risks and key areas for management focus.

• Korean Management Science Review
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• v.30 no.1
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• pp.167-181
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• 2013

We investigate the dynamic asset allocation problem under inflation risk when the wealth of an investor is constrained with minimum requirements. To capture the investor's risk preference, the CRRA utility function is considered and he maximizes his expected utility at predetermined date of the refund by participation in the financial market. The financial market is supposed to consist of three kinds of financial instruments which are a risk free asset, a risky asset, and an index bond. The role of an index bond is managing inflation risk represented by price process. The optimal wealth and the optimal asset allocation are derived explicitly by using the method to get the European call option pricing formula. From the numerical results, it is confirmed that the investments on index bond is high when the investor's wealth level is low. However, as his wealth increases, the investments on index bond decreases and he invests on risky asset more. Furthermore, the minimum wealth constraint induces lower investment on risky asset but the effect of the constraints is reduced as the wealth level increases.

• Applied Chemistry for Engineering
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• v.34 no.4
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• pp.388-396
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• 2023

The evaluation of fire risk for combustible materials was carried out using Chung's equations-X, Chung's equations-XI, and Chung's equation-XII, which were newly established. The fire risk index-XII (FRI-XII) and fire risk rating (FRR) were calculated for specimens including camphor tree, cherry, rubber tree, and elm. The combustion characteristics were determined using a cone calorimeter according to ISO 5660-1. Chung's equations caculated the fire performance index-X (FPI-X) and fire growth index-X (FGI-X) values ranged from 89.34 to 1696.75 s² /kW and from 0.0006 to 0.0107 kW/s² , respectively. In addition, the fire performance index-XI (FPI-XI) and fire growth index-XI (FGI-XI) varied from 0.08 to 1.48 and from 0.67 to 11.89, respectively. The fire risk index-XII (FRI-XII), which is an indicator of fire risk, showed that camphor tree had a value of 148.63 (fire risk rating: G), indicating a very high fire risk. This suggests that combustible materials with a high concentration of volatile organic compounds have lower FPI-X and FPI-XI values, higher FGI-X and FGI-XI values, and consequently higher FRI-XII values, indicating an increased fire risk.

• Applied Chemistry for Engineering
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• v.32 no.1
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• pp.75-82
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• 2021

This study investigated the fire risk assessment of woods and plastics for construction materials, focusing on the fire performance index-III (FPI-III), fire growth index-III (FGI-III), and fire risk index-IV (FRI-IV) by a newly designed method. Japanese cedar, red pine, polymethylmethacrylate (PMMA), and polyvinyl chloride (PVC) were used as test pieces. Fire characteristics of the materials were investigated using a cone calorimeter (ISO 5660-1) equipment. The fire performance index-III measured after the combustion reaction was found to be 1.0 to 15.0 with respect to PMMA. Fire risk by fire performance index-III increased in the order of PVC, red pine, Japanese cedar, and PMMA. The fire growth index-III was found to be 0.5 to 3.3 based on PMMA. Fire risk by fire growth index-III increased in the order of PVC, PMMA, red pine, and Japanese cedar. COpeak concentrations of all specimens were measured between 106 and 570 ppm. In conclusion, it is understood that Japanese cedar with a low bulk density and PMMA containing a large amount of volatile organic substances have a low fire performance index-III and high fire growth index-III, and thus have high fire risk due to fire. This was consistent with the fire risk index-IV.