• Journal of the Korea Institute of Building Construction
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• v.19 no.1
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• pp.77-86
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• 2019

Due to the increasing demand for and complexity of plant construction projects, unpredictable risk factors are on the consequent increase. For that reason, the quantitative risk analysis is being called for, in order for the development of a risk assessment model using risk indicators for the plant construction projects. This study used the claim payout data collected at a global insurance company to reflect the actual financial losses in plant construction projects as dependent variables in the risk assessment model. In terms of independent variables, the geographic information, i. e., landform, and the construction information including test-run, schedule rate, total cost and duration are adopted. In addition, this study suggests that the regression model containing such independent variables that are statistically significant can be applied to as a foundational guideline for the plant construction project risk analysis during the phase of construction and commissioning.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.17 no.4
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• pp.59-73
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• 2016

The demand for subsurface transport is increasing. The users and the operators of road tunnels are exposed to risks with different causes. One main cause, however, is the traffic situation in the event of accidents. The importance of a Quantified Risk Assessment is increasing to quantify the safety of road tunnels and to balance the requirements (capacity, reliability, availability, maintainability and safety) of various stakeholders. Although there are classical methods for risk assessments, such as ETA and FTA. These methods are used for relatively simple cases because it could not relevantly reflect the diversity and relationship of the parameters. Therefore, a quantitative risk assessment based on Bayesian Probabilistic Networks considering interdependence between the parameters of a complex underground system as a double deck tunnel is provided.

• Communications for Statistical Applications and Methods
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• v.13 no.2
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• pp.389-407
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• 2006

Extreme value theory has been used widely in many areas of science and engineering to deal with the assessment of extreme events which are rare but have catastrophic consequences. The potential of extreme value theory has only been recognized recently in finance area. In this paper, we provide an overview of extreme value theory for estimating and assessing value at risk and expected shortfall which are the methods for modelling and measuring the extreme financial risks. We illustrate that the approach based on extreme value theory is very useful for estimating tail related risk measures through backtesting of an empirical data.

• Earthquakes and Structures
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• v.12 no.3
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• pp.359-374
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• 2017

The seismic events in Northern Italy, May 2012, have revealed the seismic vulnerability of typical Italian precast industrial buildings. The aim of this paper is to present a seismic fragility model for Italian RC precast buildings, to be used in earthquake loss estimation and seismic risk assessment by comparing two building typologies and three different codes: D.M. 3-03-1975, D.M. 16-01-1996 and current Italian building code that has been released in 2008. Based on geometric characteristics and design procedure applied, ten different building classes were identified. A Monte Carlo simulation was performed for each building class in order to generate the building stock used for the development of fragility curves trough analytical method. The probabilistic distributions of geometry were mainly obtained from data collected from 650 field surveys, while the material properties were deduced from the code in place at the time of construction or from expert opinion. The structures were modelled in 2D frameworks; since the past seismic events have identified the beam-column connection as the weakest element of precast buildings, two different modelling solutions were adopted to develop fragility curves: a simple model with post processing required to detect connection collapse and an innovative modelling solution able to reproduce the real behaviour of the connection during the analysis. Fragility curves were derived using both nonlinear static and dynamic analysis.

• Journal of Information Science Theory and Practice
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• v.11 no.3
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• pp.1-15
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• 2023

The present study examines the impact of value co-creation on satisfaction and intention to adopt of e-resources among users. Four components of the DART model have been adopted to describe value co-creation. These components are dialogue, access, risk-assessment, and transparency. Ph.D. scholars and faculty members from National Capital Region, India, were requested to respond on a five-point Likert scale. A total of 220 responses were collected with the help of a structured questionnaire from respondents of the top 50 business schools according to National Institute Ranking Framework. These responses have been analysed by means of structured equation modelling on Adanco 2.2 software. Findings of the study reported the insignificant impact of access and risk-assessment, and positive impact of dialogue and transparency on satisfaction. Further, satisfaction has been identified, creating significant impact on adoption of e-resources. Such findings reflect the real picture of customer experience with respect to their role in co-creation of e-resources. Respondents have conveyed their dissatisfaction with the co-creation process of e-resources, as companies do not provide all the information and access to their customers beforehand. Consequently, customers fail to make informed decisions and also find themselves unable to show trust in the service providers of e-resources.

• International Journal of Reliability and Applications
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• v.4 no.4
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• pp.183-190
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• 2003

Rail breaks and derailments can cause a huge loss to rail players due to loss of service, revenue, property or even life. Maintenance has huge impact on reliability and safety of railroads. It is important to identify factors behind rail degradation and their risks associated with rail breaks and derailments. Development of mathematical models is essential for prediction and prevention of risks due to rail and wheel set damages, rail breaks and derailments. This paper addresses identification of hazard modes, estimation of probability of those hazards under operating, curve and environmental condition, probability of detection of potential hazards before happening and severity of those hazards for informed strategic decisions. Emphasis is put on optimal maintenance and operational decisions. Real life data is used for illustration.

• Structural Monitoring and Maintenance
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• v.5 no.3
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• pp.363-377
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• 2018

The proper functioning of critical points on transport infrastructure is decisive for the entire network. Tunnels and bridges certainly belong to the critical points of the surface transport network, both road and rail. Risk management should be a holistic and dynamic process throughout the entire life cycle. However, the level of risk is usually determined only during the design stage mainly due to the fact that it is a time-consuming and costly process. This paper presents a simplified quantitative risk analysis method that can be used any time during the decades of a tunnel's lifetime and can estimate the changing risks on a continuous basis and thus uncover hidden safety threats. The presented method is a decision support system for tunnel managers designed to preserve or even increase tunnel safety. The CAPITA method is a deterministic scenario-oriented risk analysis approach for assessment of mortality risks in road tunnels in case of the most dangerous situation - a fire. It is implemented through an advanced risk analysis CAPITA SW. Both, the method as well as the resulting software were developed by the authors' team. Unlike existing analyzes requiring specialized microsimulation tools for traffic flow, smoke propagation and evacuation modeling, the CAPITA contains comprehensive database with the results of thousands of simulations performed in advance for various combinations of variables. This approach significantly simplifies the overall complexity and thus enhances the usability of the resulting risk analysis. Additionally, it provides the decision makers with holistic view by providing not only on the expected risk but also on the risk's sensitivity to different variables. This allows the tunnel manager or another decision maker to estimate the primary change of risk whenever traffic conditions in the tunnel change and to see the dependencies to particular input variables.

• Korean Journal of Construction Engineering and Management
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• v.2 no.2 s.6
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• pp.90-97
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• 2001

The paper considers non-deterministic methods of analysing the risk exposure in a cost estimate. The method(referred to as the 'Monte Carlo simulation' method) interprets cost data indirectly, to generate a probability distribution for total costs from the deficient elemental experience cost distribution. The Monte Carlo method is popular method for incorporating uncertainty relative to parameter values in risk assessment modelling. Non-deterministic methods, they are here presented as possibly effective foundation on which to risk management in cost estimating. The objectives of this research is to develop a computerized algorithms to forecast the probabilistic total construction cost and the elemental work cost at the planning stage.

• Journal of Radiation Protection and Research
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• v.16 no.1
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• pp.53-72
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• 1991

An integrated model is developed in this paper for the performance assessment of high level radioactive waste repository. This integrated model consists of two simple mathematical models. One is a multiple-barrier failure model of the repository system based on constant failure rates which provides source terms to biosphere. The other is a biosphere model which has multiple pathways for radionuclides to reach to human. For the parametric uncertainty and sensitivity analysis for the risk assessment of high level radioactive waste repository, Latin hypercube sampling and rank correlation techniques are applied to this model. The former is cost-effective for large computer programs because it gives smaller error in estimating output distribution even with smaller number of runs compared to crude Monte Carlo technique. The latter is good for generating dependence structure among samples of input parameters. It is also used to find out the most sensitive, or important, parameter groups among given input parameters. The methodology of the mathematical modelling with statistical analysis will provide useful insights to the decision-making of radioactive waste repository selection and future researches related to uncertain and sensitive input parameters.

• Geomechanics and Engineering
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• v.2 no.2
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• pp.141-156
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• 2010

In the framework of meshfree methods, a new methodology is developed based on radial point interpolation method (RPIM). This methodology is applied to a one-dimensional contaminant transport modelling in the saturated porous media. The one-dimensional form of advection-dispersion equation involving reactive contaminant is considered in the analysis. The Galerkin weak form of the governing equation is formulated using 1D meshfree shape functions constructed using thin plate spline radial basis functions. MATLAB code is developed to obtain the numerical solution. Numerical examples representing various phenomena, which occur during migration of contaminants, are presented to illustrate the applicability of the proposed method and the results are compared with those obtained from the analytical and finite element solutions. The proposed RPIM has generated results with no oscillations and they are insensitive to Peclet constraints. In order to test the practical applicability and performance of the RPIM, three case studies of contaminant transport through the landfill liners are presented. A good agreement is obtained between the results of the RPIM and the field investigation data.