• Journal of the Korean Society of Systems Engineering
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• v.11 no.1
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• pp.9-24
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• 2015

Construction industry faces a lot of inherent uncertainties and issues and the construction phase of nuclear power project is not free from this risk. This paper investigates promising methodologies to be used on nuclear power plant (NPP) construction schedule delay risk assessment by using entry level systems engineering approach. This study contains how the initial concept for the risk assessment methodology has been developed. In this point of view, this work structured on three main phases: needs analysis (NA), concept exploration (CE), and concept definition (CD) through systems engineering (SE) approach. Traditionally, the SE process is applied to technical development programs but this study opens up a new avenue that SE can also be successfully applied to the development and optimization of the risk assessment model. This study provides a rational and systematic process for developing and selecting the best risk assessment model. This paper selects analytic hierarchy process (AHP) method to assess NPP construction schedule delay risk for international project. As conclusion, the proposed concept and selected method can discriminate successfully and clearly among schedule delay risk assessment methods.

• Journal of the Korea Institute of Military Science and Technology
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• v.14 no.5
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• pp.850-858
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• 2011

The risk analysis plays an important role in weapon system acquisition project due to uncertainties in the acquisition process. But in domestic, studies on risk analysis are insufficient and risk cost is not included in acquisition budget in policy. Therefore, in this study, we suggest a method that measures risk or success probability of project using the stochastic model. In particular, in order to calculate the success probability, we apply the joint probability distribution model of cost and schedule that are critical factors influencing the project risk. And also we verify the applicability of this model in Korean defence industry environment through case studies.

• International conference on construction engineering and project management
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• 2013.01a
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• pp.397-402
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• 2013

In super-tall building construction projects, schedule risk factors which vertically change and are not found in the low and middle-rise building construction influence duration of a project by vertical attribute; and it makes hard to estimate activity or overall duration of a construction project. However, the existing duration estimating methods, that are based on quantity and productivity assuming activities of the same work item have the same risk and duration regardless of operation space, are not able to consider the schedule risk factors which change by the altitude of operation space. Therefore, in order to advance accuracy of duration estimation of super-tall building projects, the degree of changes of these risk factors according to altitude should be analyzed and incorporated into a duration estimating method. This research proposes a simulation model using Monte Carlo method for estimating activity duration incorporating schedule risk factors by weather conditions in a super-tall building. The research process is as follows. Firstly, the schedule risk factors in super-tall building are identified through literature and expert reviews, and occurrence of non-working days at high altitude by weather condition is identified as one of the critical schedule risk factors. Secondly, a calculating method of the vertical distributions of the weather factors such as temperature and wind speed is analyzed through literature reviews. Then, a probability distribution of the weather factors is developed using the weather database of the past decade. Thirdly, a simulation model and algorithms for estimating non-working days and duration of each activity is developed using Monte-Carlo method. Finally, sensitivity analysis and a case study are carried out for the validation of the proposed model.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.43 no.1
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• pp.109-117
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• 2023

Schedule delays present a major risk factor, as they can adversely affect construction projects, such as through increasing construction costs, claims from a client, and/or a decrease in construction quality due to trims to stages to catch up on lost time. Risk management has been conducted according to the importance and priority of schedule delay risk, but quantification of risk on the depth of schedule delay tends to be inadequate due to limitations in data collection. Therefore, this research used the BERT (Bidirectional Encoder Representations from Transformers) language model to convert the contents of aconstruction log, which comprised unstructured data, into WBS (Work Breakdown Structure)-based structured data, and to form a model of classification and quantification of risk. A process was applied to eight highway construction sites, and 75 cases of rain schedule delay risk were obtained from 8 out of 39 detailed work kinds. Through a K-S test, a significant probability distribution was derived for fourkinds of work, and the risk impact was compared. The process presented in this study can be used to derive various schedule delay risks in construction projects and to quantify their depth.

• Journal of the Korean Operations Research and Management Science Society
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• v.35 no.4
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• pp.33-53
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• 2010

When purchase prices of a raw material fluctuate over time, the total purchasing cost is mainly affected by reordering time. Existing researches focus on deciding the right time when the demand for each period is replenished at the lowest cost. However, the decision is based on expected future prices which usually turn out to include some error. This discrepancy between expected prices and actual prices deteriorates the performance of inventory models dealing with fluctuating purchase prices. In this paper, we propose a new inventory model which incorporates not only cost but also risk into making up a replenishment schedule to meet each period's demand. For each replenishment schedule, the risk is defined to be the variance of its total cost. By introducing the risk into the objective function, the variability of the total cost can be mitigated, and eventually more stable replenishment schedule will be obtained. According to experimental results from crude oil inventory management, the proposed model showed better performance over other models in respect of variability and cost.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• 2004.11a
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• pp.384-387
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• 2004

It is very important to manage the risk in building construction because construction process has too many internal risk compared with others. So construction managers need more developed risk management system than the Present. While the study for the solution and management of generated risk is comparatively enough, the effort to confirm the risk of construction phase on pre-construction phase haying an major effect on total duration, is insufficient. For supporting the schedule risk management of pre-construction, this study suggests the reclassified risk breakdown structure and the investigation form for advance preparations on pre-construction Phase, which help the Poorly experienced construction manager to make more correct decisions and efficiently to execute risk management.

• International conference on construction engineering and project management
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• 2005.10a
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• pp.929-934
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• 2005

The complex and dynamic job nature and the ever-changing working environment of construction projects inevitably present uncertainties to construction operations. Identification, evaluation and control of uncertainties constitute main elements of risk management and critical tasks of project management in construction. This paper is focused on application of a simplified discrete-event simulation approach in management of schedule-overrun risks, each being the combination of the occurrence probability of an uncertain interruptive factor and its potential consequence in terms of time delay. A case study observed from a concreting operation in Hong Kong is converted into a simulation model and analyzed with an in-house-developed simulation package for demonstrating how the proposed approach can be implemented to manage multiple schedule-overrun risks on construction projects.

• Nuclear Engineering and Technology
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• v.47 no.3
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• pp.362-379
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• 2015

In this study, Nuclear Power Plant (NPP) construction schedule delay risk assessment methodology is developed and the construction delay risk is assessed for turnkey international NPP projects. Three levels of delay factors were selected through literature review and discussions with nuclear industry experts. A questionnaire survey was conducted on the basis of an analytic hierarchy process (AHP) and Relative Importance Index (RII) methods and the schedule delay risk is assessed qualitatively and quantitatively by severity and frequency of occurrence of delay factors. This study assigns four main delay factors to the first level: main contractor, utility, regulatory authority, and financial and country factor. The second and the third levels are designed with 12 sub-factors and 32 sub-sub-factors, respectively. This study finds the top five most important sub-sub-factors, which are as follows: policy changes, political instability and public intervention; uncompromising regulatory criteria and licensing documents conflicting with existing regulations; robust design document review procedures; redesign due to errors in design and design changes; and worldwide shortage of qualified and experienced nuclear specific equipment manufacturers. The proposed combined AHP-RII methodology is capable of assessing delay risk effectively and efficiently. Decision makers can apply risk informed decision making to avoid unexpected construction delays of NPPs.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.29 no.1
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• pp.94-100
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• 2006

The risk management is an organized method for identifying and measuring risk and for selecting, developing, and implementing options for the handling of risk. The risk management covers all programatic and technical factors which affect the system development performance, cost, and schedule. While technical issues are primary concern for systems engineering, the three elements(performance, cost, and schedule) must be balanced for a successful risk management process. This paper proposes the risk management process for the KSLV-I(Korea Space Launch Vehicle-I) program using computer-aided systems engineering tool, Cradle. The risk management process of KSLV-I program is similar to the general risk management process, but it has its own specific features to manage large-scale complex characteristics of KSLV-I program.

• Korean Journal of Construction Engineering and Management
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• v.10 no.5
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• pp.47-56
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• 2009

As contemporary society becomes information-oriented, major construction companies have recently invested in information management, but small and medium ones have not. Though the small and medium companies recognize the information management is necessary and important, they don't have an ability to possess technical expertises. The purpose of this study is to develop a Schedule Risk Control System based on blogs using IT and web technologies for construction managers in small and medium construction companies. The system makes a chance to identify risk factors and prepare for responses to settle risks happened in preconstruction phases, and enables the managers and headquarters to predict and handle schedule risks by sharing information about risks on the blogs.