• Korean Journal of Construction Engineering and Management
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• v.16 no.6
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• pp.73-83
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• 2015

Construction management firms in Korea have mainly focused on the key management areas of time, cost, quality and safety management in line with a rapid change of construction industry recently. However, a risk management is considered comparatively less important found from our research on an investment by the firms for training, system establishment. This has been identified that the construction management firms have taken an approach of dealing with risks with their experience, insight rather than managing risks with a systemized principles or proper tools. Therefore, the current system for risk management was identified by analyzing risk factors and work process in this research and systemized process for risk management of the identified risk factors was suggested. This research is expected to be a basis on establishing standard gudiance for risk management and risk management tools.

• Proceedings of the Korean Institute of Building Construction Conference
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• 2022.04a
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• pp.208-209
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• 2022

This study aims to analyze the risk factors caused by object damage and third-party damage loss in actual bridge construction based on past insurance premium payment data from major domestic insurers for bridge construction projects, and develop a quantitative loss prediction model. For the development of quantitative bridge construction loss model, the dependent variable was selected as the loss ratio, and the independent variable adopted 1) Technical factors: superstructure type, foundation type, construction method, and bridge length 2) Natural hazards: flood anf Typhoon, 3) Project information: total construction duration, total cost and ranking. Among the selected independent variables, superstructure type, construction method, and project period were shown to affect the ratio of bridge construction losses, while superstructure, foundation, flood and ranking were shown to affect the ratio of the third-party losses.

• Journal of the Korean Society of Safety
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• v.16 no.4
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• pp.115-122
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• 2001

Recently construction enterprises involves more occurred with increase of size and complxity of construction works. Risk management is one of the key project management process. Numerous tools are available to support the various phases of the risk management process. We present the results of a study designed to identify the tools that are most widely used and those that are associated with successful project management in general, and in effective project risk management in particular. The study is based on a questionnaire administered to a sample of project managers from construction enterprises. The response data was analyzed in order to find which tools are mon likely to be used in the those organizations that report better project management performance and in those that value the contribution of risk management processes.

• Journal of the Korean Society of Safety
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• v.22 no.6
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• pp.63-68
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• 2007

The purpose of this study is to verify the relation between the risk index using AHP(Analytic Hierarchy Process) and the risk index using Computing Model. For doing the objective, this research classified 22 work types in architectural construction work from the analysis Korean architectural standard specification and Korea occupational safety & health agency code. Based on the classified 22 work types in architectural construction work, the risk index of each work type was calculated by AHP and Computing Model. For verifying the correlation of risk index between AHP and Computing Model methods, SAS version 8.0 System, which is one of the statistics programs, was used.

• International conference on construction engineering and project management
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• 2007.03a
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• pp.498-508
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• 2007

The Build-Transfer-Lease (BTL) projects have rapidly increased under the Government support during recent years. This paper presents the risk analysis of factors affecting BTL projects in the initial phase. This study resulted in 10 significant risk factors influencing on each phase of BTL projects and then factors were grouped into each phase. The sensitivity analysis was also performed to identify risk factors with more significant influence on BTL projects. The results may useful to practitioners in order to cope with risks in initial phase of BTL projects. The paper resulted in the distribution of risks to project parties, thus it can be used as standards for risk assignment to competent authorities and private enterprises of BTL projects.

• International conference on construction engineering and project management
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• 2009.05a
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• pp.1000-1014
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• 2009

Research sponsored by the Korean Government investigated the establishment of a risk management process by Korean contractors involved with plant projects in the Middle East. This research effort builds upon the work completed by the Construction Industry Institute (CII), called the International Project Risk Assessment (IPRA) tool and method, and also explored how CII's Project Definition Rating Index (PDRI) could be incorporated to improve project planning by addressing risks and scope development issues. Specific findings and recommendations were developed including the creation of the Contractor Critical Areas of Concern (CCAC) risk screening tool for Korean contractors pursuing Middle East oil and gas projects.

• Korean Journal of Construction Engineering and Management
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• v.6 no.5 s.27
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• pp.177-185
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• 2005

Construction uncertainties are frequently exposed to the claims. In most cases, an interpretation of the claims is based on the construction contract. Therefore, the key points of contract negotiation are how to fairly distribute the contract risks to the client and contractor. For these, a FIDIC that is considered as an international standard contract form would be a good reference to decide reasonable contract risk distribution. In order to find out any unreasonable and unfair contract clauses at the general conditions of contract applying generally to public construction project in Korea, this study surveys, analyses and evaluates the general conditions of contract based on a FIDIC, and then proposes a risk mitigation methodology to response those clauses' risk factors reasonably.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.46 no.3
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• pp.221-230
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• 2023

Under increased complexity and uncertainty of overseas construction projects, it is important for construction companies to improve their own project risk management capabilities instead of risk-taking strategies to secure competitiveness in the overseas construction market. Although most of the risks occur in project execution stage, many previous studies focused on planning stage including risk identification and analysis among PRM process. Therefore, this study aims to verify the effectiveness of whole PRM process during project execution stage through empirical study on participants of overseas construction projects. As the result it was found that first, the factor directly affects the project success is the execution process of PRM. It implies that appropriate actions such as appointing charged manager for risks, timely implementation of responding plan, continuous risk monitoring and updating established plan are the key for contribution to the project success. Second, the importance of communication in PRM is also found, which is not conducted at a specific but throughout the entire PRM process and need to be managed as essential factor for successful PRM..

• Journal of the Korea Institute of Building Construction
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• v.20 no.1
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• pp.83-91
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• 2020

The recent bridge construction projects is demanded more sophisticated risk management measures and loss forecasts to brace for risk losses from an increase in the trend of bridge construction. This study aims to analyze the risk factors that caused the loss of material in actual bridge construction and to develop a quantified predictive loss model, based on the past record of insurance payment by major domestic insurance companies for bridge construction projects. For the development of quantitative bridge construction loss model, the dependent variable was selected as the loss ratio, i.e., the ratio of insurance payout divided by the total project cost, while the independent variable adopted 1) Technical factors: superstructure type, foundation type, construction method, and bridge length 2) Natural hazards: typhoon and flood 3) Project information: construction period and total project cost. Among the selected independent variables, superstructure type, construction method, and project period were shown to affect the ratio of bridge construction losses. The results of this study can provide government agencies, bridge construction design and construction and insurance companies with the quantitative damage prediction and risk assessment services, using risk indicators and loss prediction functions derived from the findings of this study and can be used as a guideline for future basic bridge risk assessment development research.

• 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.