• Journal of the Korea Safety Management & Science
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• v.20 no.1
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• pp.1-9
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• 2018

As the chemical industry becomes more advanced, the awareness of chemical accidents is rising, and legal systems for chemical safety management are strengthened. In this study, quantitative risk assessment of liquid chlorine leak was conducted. Risk assessment was performed in the order of frequency analysis, consequence analysis, and risk calculation. The individual risk was presented in the form of contour lines. The social risk was expressed by the FN curve. The risk of day and night was in an unacceptable area, so it was required to mitigate risk. Therefore in-building, which could trap the pool, was selected as a risk mitigation measure. As a result of the cost benefit analysis, it was concluded that this measure should be reasonably implemented.

• Journal of Information Technology Applications and Management
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• v.15 no.2
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• pp.67-82
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• 2008

Risk that breed large size disaster is happening variously for cause at social. natural a management. Incidence and damage scale are trend that increase rapidly than past. In these circumstance, to keep operational continuity of organization, area, society, risk management action that establish systematic counter measure estimating and analyze occurrence possibility and expectation damage of risk is essential indispensable issue and the best countermeasure. Risk management action does by main purpose establish optimum disaster reduction countermeasure. To deduce various countermeasure, process that estimate and analyze occurrence possibility and expectation damage of risk is essential indispensable issue. Therefore, this paper studies process design that can presume risk occurrence frequency and damage scale through distribution of probability.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.12
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• pp.261-269
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• 2021

This study examines the effect of block diversity on the risk of firms listed on the Korean Stock Exchange between 2010 and 2017. To examine the effect of block diversity on corporate risk, we measure block diversity in terms of a single component, portfolio size, by referring to prior literature. This diversity component accounts for the differences in portfolio size across corporate blocks. In line with existing research on corporate risk, we consider several variables to measure corporate risk: volatility, beta, and idiosyncratic risk. The results show a negative relationship between the size of a block shareholder's portfolio and corporate risk. We also show no difference in the effect of block diversity on the corporate risk between KOSPI and KOSDAQ. This implies that the difference in portfolio size among corporate blocks reduces corporate risk. This may be due to the effect of inter-block monitoring activities in the Korean securities market, which benefits from block diversity. This empirical result supports previous studies that predicted that block diversity would have beneficial influences on firm monitoring in general. This study is significant in that it analyzes the relationship between block diversity and firm risk and provides relevant information to business practitioners and investors.

• 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.

• Proceedings of the Korean Operations and Management Science Society Conference
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• 1990.04a
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• pp.272-288
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• 1990

The uncertainty quantification process in probabilistic Risk Assessment usually involves a specification of the uncertainty in the input data and the propagation of this uncertainty to the final risk results. The distributional sensitivity analysis is to study the impact of the various assumptions made during the quantification of input parameter uncertainties on the final output uncertainty. The uncertainty importance of input parameters, in this case, should reflect the degree of changes in the whole output distribution and not just in a point estimate value. A measure of the uncertainty importance is proposed in the present paper. The measure is called the distributional sensitivity measure(DSM) and explicitly derived from the definition of the Kullback's discrimination information. The DSM is applied to three typical discrimination information. The DSM is applied to three typical cases of input distributional changes: 1) Uncertainty is completely eliminated, 2) Uncertainty range is increased by a factor of 10, and 3) Type of distribution is changed. For all three cases of application, the DSM-based importance ranking agrees very well with the observed changes of output distribution while other statistical parameters are shown to be insensitive.

• Asia-Pacific Journal of Business
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• v.5 no.2
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• pp.37-50
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• 2014

Banking institutions have been facing variety of difficulties but the major cause of serious banking problems relates to lax credit standards for borrowers and counterparties, poor portfolio risk management, or a lack of attention to changes in economic or other circumstances that can lead to deterioration in the credit standing of a bank's counterparties. Although credit risk is an important factor that financial institutions should cope with, but the determinants of measuring credit risk have been studied less. This paper attempts to explore the determinants of credit risk measurement and to identify the factors that contribute to credit risk measurement practices in Indian banks and to compare credit risk measurement practices followed by Indian public and private sector banks, the empirical study has been conducted and views of employees of various banks have been tested using statistical tools. This study explored the phenomenon from different perspectives and revealed that single-name credit risk measurement and portfolio credit risk measurement are the key components that contribute to credit risk measurement in Indian banks. From the descriptive and analytical results, it can be concluded that Indian banks efficiently measure credit risk. The results also indicate that there is a significant difference between the Indian public and private sector banks in single-name credit risk measurement while, these banks do not significantly differ in portfolio credit risk measurement aspect.

• Journal of the Korean Society of Systems Engineering
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• v.10 no.2
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• pp.59-69
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• 2014

In the bidding stage of turn-key based plant construction contracts, owners provide design and performance basis for contractors instead of giving design drawing. To win the bid for a plant construction, the contractors should be obliged to satisfy and ensure owners'requirements such as design and performance basis in a plant construction project, In other words, owners imposes technical risk of the design to the contractors by specifying responsibility for the analysis and verification of the plant construction. Thus, it is very important that contracters make accurate and realistic basic design plan in a short period of time. To deal with such a situation, we propose a systems engineering approach for the analysis and management of the technical risk. Specifically, we first: 1) Analyzes technical risk related with the plant design information for the bidders, followed by 2) Developing stakeholder requirements for the basic engineering design, and 3) System requirements for dealing with technical risk. Also, in this paper, we proposed converting method from MOE(Measure of Effectiveness) to MOP(Measure of Performance) in the risk analysis. To show the effectiveness of the proposed method, we carried out a case study.

• Plant Journal
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• v.6 no.1
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• pp.56-63
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• 2010

While the local plant market is reducing its volume, the plant market over the world since 2000s is rapidly expanding. The nation's construction companies, aggressively dedicated in launching out overseas plant market, increase the volume of orders in that sector, but there also are much difficulty in the project management as those projects ordered are gradually large scaled with more cutting-edge high-tech requirements along with comparatively higher risk. Though the local construction companies have developed their own types of measures to analyze the risk evaluation putting into practice, the specialized decision-making model for the overseas plant market or the risk measure understandable easily and applicable practically is not yet shown. This paper aims at providing the methodology to evaluate the risk by way of constructing the risk evaluation process in order to induce risk measuring elements through appropriate indexing system. Furthermore, through studying the risk management system, it aims to seek for a thorough risk management method from beginning of the project to the end.

• Journal of the Korea Institute of Military Science and Technology
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• v.12 no.3
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• pp.309-316
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• 2009

The risk management is a method to identify and to handle risk factors. In this paper, we introduce a methodology that can be used to measure of system's performance risk by combining system's TPM(technical performance measures) in the R&D(research and development) program for defense acquisition. By applying the suggested procedure, we can monitor risk trends in R&D program by calculation of system's overall TPM and find out where management should target to reduce or remove the system's performance risk.

• Journal of Korean Society for Quality Management
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• v.33 no.3
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• pp.135-148
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• 2005

This paper considers a six sigma project for reducing the project costs through project risk management. The project follows a disciplined process of five phases: define, measure, analyze, improve, and control. A risk management process map is used to identify process input and output variables. Seven key process input variables are selected by using C&E diagram and X-Y matrix and finally four vital few input variables are selected by the related statistical analysis. The optimum alternatives of the vital few input variables are obtained by the method of PUGH matrix. The process is running on control plan and we obtained substantial project cost reductions in early stage of the control phase.