• Proceedings of the Korean Institute of Building Construction Conference
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• 2002.11a
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• pp.95-98
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• 2002

The purpose of this study was to Estimation the Risk of construction method to protect and reduce the risk of construction period. For this study we are using the pre and during construction period Inspection list. The inspection list was used by construction company for check a flaw of construction field. So we rearrange the individual item of inspection list to match the Risk factor, The results of this study were as follows: The inspection list was rearranged at Risk checklist for Risk estimation. So that we estimate the Risk of individual construction method.

• Proceedings of the Korean Institute of Building Construction Conference
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• 2014.05a
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• pp.192-193
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• 2014

Due to the decreasing domestic construction market since 2007, Korean construction companies are expanding overseas market. As a result, the international market share by Korea has been continuously increased and achieved 65.2 billion dollars in 2013. Despite of such visible results, profitability concerns are constantly arising. It is pointed out that the low-priced bid competition between Korean construction companies and various unpredictable risks are the most crucial factors which aggravate the profitability in the overseas projects. From this point of view, predicting the risks in advance and controling them could be the most important tasks to improve the profitability. This research proposed 202 risk factors with a hierarchy and relational database schema for power plant construction, which is based on the 24 risk classifications in previous research (Kim & Jung 2013). Proposed risk classification and relational database schema could be utilized as the basic data in risk management system.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• autumn
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• pp.418-421
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• 2003

Most construction companies recognize the necessity of risk management. The practical application, however, is not easy because of the absence of systematic procedure for risk management and the difficulty in objectification of subjective risk factors. This study suggests a systematic procedure and a models. In the first place for those researches, this study analyzes the present condition of risk management in the construction industry. The developed model can be used as a risk management tool that enables evaluation of construction risk factors by quantified method, and it provides project managers with the methods to prevent risk and to deal with potential risk factors in the planning and construction phases. The results of this study could be used as references for related researches because this study attempts to develop a systematic tool for risk management including risk identification, risk analysis. risk action phases.

• Proceedings of the Computational Structural Engineering Institute Conference
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• 1997.10a
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• pp.24-31
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• 1997

Recently, in Korea, demand for establishment of systematic risk assessment techniques for construction projects has increased, especially after the large construction failures occurred during construction such as New Haengju Bridge construction projects, subway construction projects, gas explosion accidents etc. Most of existing risk analysis modeling techniques such as Event Tree Analysis and Fault Tree Analysis may not be available for realistic risk assessment of construction projects because it is very complex and difficult to estimate occurrence frequency and failure probability precisely due to a lack of data related to the various risks inherent in construction projects like natural disasters, financial and economic risks, political risks, environmental risks as well as design and construction-related risks. Therefor the main objective of this paper is to suggest systematic probabilistic risk assessment model and demonstrate an approach for probabilistic risk assessment using advanced Event Tree Analysis introducing Fuzzy set theory concepts. It may be stated that the Fuzzy Event Tree AnaIysis may be very usefu1 for the systematic and rational risk assessment for real constructions problems because the approach is able to effectively deal with all the related construction risks in terms of the linguistic variables that incorporate systematically expert's experiences and subjective judgement.

• Journal of the Korea Institute of Building Construction
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• v.2 no.1
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• pp.147-154
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• 2002

In the Past, The selection of individual method of construction was done by head of construction site or an experienced person very frequently. By doing this, The wrong selection of construction method without exact adjudication of construction site situation lead to increasing of cost and extension of construction term. Finally it will effect all over the construction process. Especially, In case of underground construction in the beginning, there are a lot of a variable factor and it also effect on the entire construction process and it need very careful process. The purpose of this study is to present the best suitable methodology for selection of construction method by considering potential risk of construction method and variables together with external condition for underground construction. The purpose of this study Is to select the most suitable construction method by analysing potential conditions(construction site situation and client request in designing ) To do this, We prepared arrangement rule to arrange the conditions for construction method. And thin make checklist of the analyzing construction method. Though above process, To expect the risk of individual construction method using above risk checklist and using Analytic Hierarchy process among Multiple-Criteria Decision making, the professional opinions is to be adapted. By doing this, it can lead and select the most suitable construction method considering the data which get from risk density test.

• Journal of the Korea Institute of Building Construction
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• v.17 no.3
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• pp.287-294
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• 2017

Recently the construction project is becoming large-sized, complicated, and modernize. This has increased the uncertainty of construction risk. Therefore, studies should be followed regarding scientifically identifying the risk factors, quantifying the frequency and severity of risk factors in order to develop a model that can quantitatively evaluate and manage the risk for response the increased risk in construction. To address the problem, this study analyze the probability distribution of risk causes, the probability of occurrence and frequency of the specific risk level through Monte Carlo simulation method based on the accident data caused at construction sites. In the end, this study derives quantitative analysis by analyzing the amount of risk and probability distributions of accident causes. The results of this study will be a basis for future quantitative risk management models and risk management research.

• Proceedings of the Korean Institute of Building Construction Conference
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• 2012.05a
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• pp.143-144
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• 2012

A number of construction projects tied to the concerns and decision-making is also very complicated. In addition, more than any other industry, is inherent in many risk factors. In the course of the construction project on risk factors that exist in the early stages of project risk factors to predict in advance and prepare a project by shortening the construction period and project cost as you can to maximize performance. In this study, I proposed risk management processes and how they are used in web-based schedule risk in the process of change management system, and between 3D CAD, 4D CAD taking into account the linkages, risk management strategy process in the BIM environment.

• Proceedings of the Korean Institute of Building Construction Conference
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• 2014.11a
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• pp.90-91
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• 2014

Previous research related to the construction schedule management has focused on construction schedule categorization, construction schedule management, and system development to manage construction schedule risks. Therefore this research present quantitively deducing method for managing construction schedule risk. Based on the investigation, this study suggested the probable risk factors and a practical management method, through interviews and discussions with experts. The quantified risks should be adapted for an individually specific projects and managed until the project is complete. To maintain the continuity of schedule risks, the schedule risk management procedures should be controlled during the performance of the construction project.

• International conference on construction engineering and project management
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• 2013.01a
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• pp.459-466
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• 2013

Risk exists in all construction projects and resides among the collection of subcontractors and their array of individual activities. Wherever risk resides, the interrelation of participants to one another becomes paramount for the way in which risk is measured. Inherent risk becomes recognizable and quantifiable within network schedules in the form of consuming float - the flexibility to absorb delays. Allocating, owning, valuing, and expending such float in network schedules has been debated since the inception of the critical path method itself. This research investigates the foundational element of a three-part approach that examines how float can be traded as a commodity, a concept whose promise remains unfulfilled for lack of a holistic approach. The Capital Asset Pricing Model (CAPM) of financial portfolio theory, which describes the relationship between risk and expected return of individual stocks, is explored as an analogy to quantify the inherent risk of the participants in construction projects. The inherent relationship between them and their impact on overall schedule performance, defined as schedule risk -the likelihood of failing to meet schedule plans and the effect of such failure, is matched with the use of CAPM's beta component - the risk correlation measure of an individual stock to that of the entire market - to determine parallels with respect to the inner workings and risks represented by each entity or activity within a schedule. This correlation is the initial theoretical extension that is required to identify where risk resides within construction projects, allocate and commoditize it, and achieve actual tradability.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.50
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• pp.215-250
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• 2011

Korean won overseas construction projects worth 71.6 billion US Dollars in 2010, which exceeded that of 2009 by 45.6%. An overseas construction project is a transaction of large scale, long term project, many parties participating, deferred payment, and of high-technology. It contributes to foreign currency earning, and also leads the nation's export restructuring work towards high value-added one. There are various kinds of risks towards the relevant parties respectively, which are key elements in successfully performing the overseas construction project. There are completion risk, financing risk, operating risk, revenue risk etc, in an employer's place. A contractor may be confronted with payment risk, issuance risk of performance bond, financing risk, performance risk of sub-contractors, and exchange rate risk. In lenders place there are repayment risk, completion risk, and political risk in the host country. In order to mitigate risks, the parties shall take relevant measures or require relevant securities. A contractor needs to evaluate the credibility of an employer in respect of payment risk, and can also request export insurance cover by the Korea Trade Insurance Corporation(the former 'Korea Export Insurance Corporation"). An employer can require a contractor to provide performance bond in respect of completion risk, and employ a well-known first class bank as a mandated arranger to arrange financing with regard to completion risk. Lenders needs to evaluate the credibility of an employer and accomplish feasibility study of the project. Lenders can request insurance cover from export credit agency. Once the parties assess the respective risks and obtain relevant securities, the project will be successfully completed. The success of the project will be sure to bring the parties involved enormous profits and another opportunity to participate in overseas construction project afterwards.