• Title/Summary/Keyword: Risk management factors

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RISK ANALYSIS FOR INDUSTRIAL PROJECT IN CONSTRUCTION PHASE: A MONTE-CARLO SIMULATION APPROACH

  • Soo-Yong Kim;Luu Truong Van;Han-Ki Ha;Nguyen Quoc Tuan
    • International conference on construction engineering and project management
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    • 2007.03a
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    • pp.130-139
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    • 2007
  • This paper presents a study on risk analysis in terms of contractor's costs in construction phase in which Crystal ball (software of Decisioneering, UK) has been utilized as a main tool. To realize it, a questionnaire survey has been carried out to identify the dominant factors that strongly influence contractor costs in Vietnam. Based on results of questionnaire investigation, the survey identified three factors which were duration of each construction task, costs of reinforcing steel, and cement. Then a spreadsheet model was created in order to analyze risks. The study also indicates that the cost of reinforcing steel and cement are the cause of risks for contractors. According to the suggested model, contractors may foresee the probability of completion within the approved budget, and the possibility of earning in accordance with owner's payment conditions.

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The Study of Factors Related to Internet Auctions Participation (인터넷 경매참여 관련변인에 관한 연구)

  • Lee, Eun-Hee;Nam, Su-Jung
    • Journal of Families and Better Life
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    • v.25 no.2 s.86
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    • pp.123-135
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    • 2007
  • This study investigated the influence of values associated with internet auctions and risks associated with participating in internet auctions. The results of this study were as follows: First, the values associated with internet auctions consisted of hedonic value, information value, and practical value. Among these values, hedonic value was the highest, and information value was the lowest. Second, He risks consisted of functional risk, privacy risk, socio-psychological risk, md financial risk. Among these risks, functional risk was the highest, and socio-psychological risk was the lowest. Results of regression analysis using demographic elements to inspect risk factors revealed sex, age, and income were statistically significant finally, with respect to demographic characteristics and influences of the aforementioned values and risks, the factors influencing participation in internet auctions were sex, age, hedonic value, functional risk and financial risk.

A Pilot Study of APN-led Self-management Program to Improve Cardiovascular Health Status among Korean Women with Risk Factors

  • Shin, Nah-Mee;Yoon, Ji-Won;Choi, Jiwon;Park, Younghee;Jeon, Songi
    • Korean Journal of Adult Nursing
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    • v.28 no.2
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    • pp.237-245
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    • 2016
  • Purpose: The aim of this study was to examine the effects of an Advanced Practice Nurse (APN)-led self-management program on cardiovascular health status among Korean women at risk of developing or progressing cardiovascular disease. Methods: This pilot study used one-group pre- and post- test experimental design. At health fairs in a community, 30 women who had one or more risk factors for metabolic syndrome were recruited and agreed to participate in the study. A total of 25 women completed the study. The intervention consisted of weekly follow-up calls and self-monitoring diary after an hour of individual counseling regarding risk factors, fast walking, and healthy diet tailored to the participants' needs. Physical activity was assessed with the World Health Organization International Physical Activity Questionnaire and a pedometer. Results: Participants showed statistically significant improvements in blood pressure, body mass index, levels of triglyceride, total cholesterol and low density lipoprotein, numbers of metabolic syndrome factors, and the 10-year CV risk estimate after one month of concentrated intervention. In addition, their physical activity behavior significantly improved after the intervention. Conclusion: This APN-led self-management program targeting modifiable risk factors by offering tailored counseling and concentrated support during the transition might be effective in preventing progression to the cardiovascular disease.

Development of Inspection Checklist through the Analysis of the Relationship between the Risk Improvement Ratio and the Accident Ratio in Food Manufacturing Industry (식료품 제조업 유해·위험요인 개선율과 재해율의 관계 분석을 통한 점검 체크리스트 개발)

  • Ho houng Yu;Doo-Hyun Kim;Sung-Chul Kim
    • Journal of the Korean Society of Safety
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    • v.38 no.4
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    • pp.47-53
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    • 2023
  • In the inspection of workplace hazards/risk factors by specialized institutions dedicated to safety management, inspection reports vary based on the inspectors, who lack the authority to enforce improvement of workplace hazards/risk factors. Thus, improvement and accident rates remain steady without decreasing. This study performed a regression analysis on the relationship between improvement and accident rates of categorized inspection items by classifying hazards/risk factors from inspection reports submitted by a specialized safety management institution in Chungbuk after inspecting 10 food and beverage manufacturers over the past three years. The hazards/risk factors were classified into five categories: mechanical, electrical, chemical, human, and environmental. The regression analysis revealed that the improvement rate of hazards/risk factors inspected by the specialized safety management institution influenced accident rates. To enhance improvement rates based on these findings, this study prioritized the correction of the five most frequently cited inspection items with the lowest improvement rates in each area. Based on these inspection items, this study suggested a checklist for use in workplace safety inspections of food manufacturers. This proposed checklist is expected to reduce accident rates in food manufacturing facilities. Currently, guidance and inspection of workplaces are mainly focused on accident rates rather than correcting hazards/risks. Thus, accident rates remain unchanged as workplace risks are inadequately improved according to the unique characteristics of each workplace. When conducting workplace guidance and inspection, policy measures and inspection methods are warranted to increase the improvement rate of hazards/risks.

OPTION DESIGN STRATEGIES FOR INFRASTRUCTURE PROJECTS

  • Charles Y. J. Cheah;Jicai Liu
    • International conference on construction engineering and project management
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    • 2005.10a
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    • pp.980-985
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    • 2005
  • Since the 1980s, Build-Operate-Transfer and its variations have become a common approach to develop large-scale infrastructure projects. Despite the slight variations in contractual settings, the key issue for all parties concerned is to assess the risks and uncertainties inherent in a project. The risk factors studied and highlighted by past researchers are very diverse. This paper starts with an objective to compare the risk factors in different sectors of infrastructure, and then categorize them into two kinds: general and specific. Following this classification, risk mitigation strategies should be adopted differently at the corporate and project levels. A few short cases have also been used to illustrate the flexible measures or "options" that some project participants have designed to address risks and uncertainties at the two levels.

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Perception and Attitude about Risk from Science & Technology-Focused on Risk from Electromagnetic Wave- (과학기술 위험에 대한 인지 및 태도 -전자파 위험을 중심으로-)

  • Song, Hae-Ryong;Kim, Won-Je;Jung, Se-Il
    • The Journal of the Korea Contents Association
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    • v.10 no.5
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    • pp.436-445
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    • 2010
  • The purpose of this research is to know what factors have impacts on their risk perception and attitude in risk communications. This research shows the research findings that the determinant factors of risk perception are the possibility to control the risk, benefits of recognition, the specialty of risk management, and the usefulness of information about the risk. And also the results have shown that the determinant factors of risk attitudes are the possibility to control the risk, the understanding of science and technology, the familiarity with the risk, the usefulness information about the risk, the accuracy of information, and the initiative in the protection of citizens from the risk. As the results have indicated, common determinant factors are the usefulness of information about the risk and the possibility to control the risk. Both of them that affect risk perception and attitudes on electromagnetic waves are important factors in risk communication research. Therefore this study shows that what factors suppose to be considered important in risk communication process about risk of electromagnetic waves.

Social Risk Perception and Social Capital among Female-Headed Households (여성 가구주의 사회위험 인식과 사회적 자본)

  • Lee, Jonghee
    • Journal of Family Resource Management and Policy Review
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    • v.27 no.1
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    • pp.41-52
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    • 2023
  • This study aims to discuss the role and function of social capital in explaining social risk perception among female-headed households. This study analyzed the level of social risk perception and its determinant factors of female-headed households using 2020 Social Survey data from Statistics Korea. The analysis revealed that socio-demographic factors and social capital influenced the perception of social risk. In addition, the social capital related to social safety was associated with the level of social risk perception. Even after controlling for various factors, the social risk perception level among female-headed households was higher than among male-headed ones. Among female-headed households, social capital such as compliance with regulations or ability to cope with risk; demographic factors such as age, residential area, and health status; and economic factors such as income level and housing type were found to affect social risk perception. Based upon the findings this study devises ways to accumulate social capital that can be obtained in cooperative relationships between families and communities.

Risk Critical Point (RCP): A Quantifying Safety-Based Method Developed to Screen Construction Safety Risks

  • Soltanmohammadi, Mehdi;Saberi, Morteza;Yoon, Jin Hee;Soltanmohammadi, Khatereh;Pazhoheshfar, Peiman
    • Industrial Engineering and Management Systems
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    • v.14 no.3
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    • pp.221-235
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    • 2015
  • Risk assessment is an important phase of risk management. It is the stage in which risk is measured thoroughly to achieve effective management. Some factors such as probability and impact of risk have been used in the literature related to construction projects. Because in high-rise projects safety issues are paramount, this study has tried to develop a quantifying technique that takes into account three factors: probability, impact and Safety Performance Index (SPI) where the SPI is defined as the capability of an appropriate response to reduce or limit the effect of an event after its occurrence with regard to safety pertaining to a project. Regarding risk-related literatures which cover an uncertain subject, the proposed method developed in this research is based on a fuzzy logic approach. This approach entails a questionnaire in which the subjectivity and vagueness of responses is dealt with by using triangular fuzzy numbers instead of linguistic terms. This method returns a Risk Critical Point (RCP) on a zoning chart that places risks under categories: critical, critical-probability, critical-impact, and non-critical. The high-rise project in the execution phase has been taken as a case study to confirm the applicability of the proposed method. The monitoring results showed that the RCP method has the inherent ability to be extended to subsequent applications in the phases of risk response and control.

Preliminary Study on Market Risk Prediction Model for International Construction using Fractal Analysis

  • Moon, Seonghyeon;Kim, Du Yon;Chi, Seokho
    • International conference on construction engineering and project management
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    • 2015.10a
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    • pp.463-467
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    • 2015
  • Mega-shock means a sporadic event such as the earning shock, which occurred by sudden market changes, and it can cause serious problems of profit loss of international construction projects. Therefore, the early response and prevention by analyzing and predicting the Mega-shock is critical for successful project delivery. This research is preliminary study to develop a prediction model that supports market condition analysis and Mega-shock forecasting. To avoid disadvantages of classic statistical approaches that assume the market factors are linear and independent and thus have limitations to explain complex interrelationship among a range of international market factors, the research team explored the Fractal Theory that can explain self-similarity and recursiveness of construction market changes. The research first found out correlation of the major market factors by statistically analyzing time-series data. The research then conducted a base of the Fractal analysis to distinguish features of fractal from data. The outcome will have potential to contribute to building up a foundation of the early shock warning system for the strategic international project management.

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Analysis of Effect of Risk Factors on the Success of Risk Management (리스크요소가 리스크관리 성공에 미치는 영향 분석 연구)

  • Chung, Yeon-Kyo;Chung, Byeong-Hwa
    • Journal of the Korea Institute of Building Construction
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    • v.14 no.5
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    • pp.443-449
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    • 2014
  • Although risk reduction of construction projects have been continued, the risk of fatal accident has been increased. The purpose of this paper is to reduce the cause of the essential risk factors. Questionnaire survey of construction companies in domestic was conducted and the Multiple Regression Analysis of statistics program was used to grasp effective factors among the risk factors of construction companies in domestic. Development of the essential risk factors and its application to projects could lead to improvements such as compression of network, reduction of cost, improvement of quality and reduction of safety accident.