• International conference on construction engineering and project management
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• 2011.02a
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• pp.526-533
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• 2011

Contracting is said to be a high-risk business, and a common cause of business failure is related to cash management. A contractor's financial viability depends heavily on how actual payments from an owner deviate from those defined in the contract. The paper presents a method for contractors to evaluate the punctuality and fullness of owner payments based on historical behaviour. It does this by classifying owners according to their late and incomplete payment practices. A payment profile of an owner, in the form of aging claims submitted by the contractor, is used as a basis for the method's development. Regression trees are constructed based on three predictor variables, namely, the average time to payment following a claim, the total amount ending up being paid within a certain period and the level of variability in claim response times. The Tree package in the publicly available R program is used for building the trees. The analysis is particularly useful for contractors at the pre-tendering stage, when contractors predict the likely payment scenario in an upcoming project. Based on the method, the contractor can decide whether to tender or not tender, or adjust its financial preparations accordingly. The paper is a contribution in risk management applied to claim and dispute resolution practice. It is argued that by contractors having a better understanding of owner payment behaviour, fewer disputes and contractor business failures will occur.

• The Journal of the Korea Contents Association
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• v.16 no.11
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• pp.308-320
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• 2016

This research is an empirical case study that suggests the practical practice and output of action plan, the actual performing activity of risk management system established to prevent and respond to risk of the elderly care facility. For this, this research analyzed the action plan practice process and outcome upon 2 years' practice (2014~2015) by A Elderly care facility which has conducted performance activity by establishing risk management system to prevent and respond to danger for the first time in Korea. As the research result, first, risk management system action plan was established in the choice and performance stage of risk prevention and response handling method, the 3rd among 4 staged process of risk management system establishment. Second, as the outcome along with risk management system action plan performance, as the result of comprehending the investigation on risk change for 2 years(2014~2015), risk decreased by 28% in 2015 compared to 2014, displaying effect in risk management activity along with performing action plan. Based on this result, it was determined that action plan for the effective action plan establishment and practice in the elderly care facility should be established with systematic promotion schedule to be well connected with its strategy, achievement goal, and achievement project, etc. based on vision and strategy, instead of being established individually, based on clear matter of responsibility, utilizing such technique as Gantt chart, etc., composing concretely by schematizing in order to view all contents to be practiced clearly.

• Journal of Korean Tunnelling and Underground Space Association
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• v.22 no.2
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• pp.155-170
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• 2020

In this paper, a risk management system applicable to NATM tunneling projects is proposed. After investigating case histories in NATM tunnel collapse, this paper analyzes the potential risk factors and their corresponding risk events during NATM tunnel construction. The risk factors are categorized into three groups: geological, design and construction risk factors. The risk events are also categorized into four types: excessive deformation, excessive deformation with subsidence, collapse inside tunnels, and collapse inside tunnels with subsidence. The paper identifies risk scenarios in consideration of the risk factors and proposes a risk analysis/evaluation method for the NATM tunnel risk scenarios. Based on the evaluation results, the optimal mitigation measure to handle the risk events is suggested. In order to effectively facilitate a series of risk management processes, it is necessary to develop a risk register and a management ledger for risk mitigation measures that are customized to NATM tunnels. Lastly, the risk management for an actual NATM tunnel construction site is performed to verify the validity of the proposed system.

• Transactions of the Korean Society of Pressure Vessels and Piping
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• v.10 no.1
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• pp.37-43
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• 2014

Nuclear power plants(NPPs) are consisted of power production functions and safety functions preventing leakage of radiation. Operators working in NPPs shall maintain these functions during an operation period through various activities such as improvement & modification, corrective maintenance, preventive maintenance and surveillance test. According to the performance of these work activities, there are configuration changes in NPPs systems. Its changes cause the increase of safety risks(CDF) and plant trip risks. Recently, the importance of risk management is increasing gradually in the operation process of NPPs. Therefore, this paper presents the work management methods using the various risk monitoring systems during power operation and overhaul period. Also this paper suggests the optimum application ways of risk systems for work management.

• Journal of the Korean Society of Safety
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• v.35 no.3
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• pp.16-23
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• 2020

The use of construction machinery has been increasing every year due to the large scale, high-rise and lack of workers in construction work. On the other hand, deaths are on the rise every year due to inadequate risk management for construction machinery work. In addition, the number of deaths caused by the lack of signals or insufficient signals during construction machinery work is increasing rapidly, and it is deemed necessary to analyze the actual conditions and take countermeasures. Therefore this study has developed the Strength Risk Index (SRI) based on the Frequency Risk Index (FRI) and the 5W1H by analyzing in-depth deaths caused by construction machinery over the past five years. The risk index (RI) was assessed using the frequency and strength risk index derived to determine whether it is acceptable (acceptable risk < 0.25 ≦ unacceptable risk) and the risk assessment method for reducing risk was proposed by applying 3E (Engineering, Education, Enforcement) measures for each level of risk for unacceptable risk. It also proposed measures to improve the system, such as requirements for signal numbers, mandatory placement standards, and mandatory installation of side and rear monitoring cameras, as measures for accidents caused by failure to deploy signals or insufficient signals, which account for the highest proportion of deaths among construction machinery operators and workers.

• Journal of Environmental Health Sciences
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• v.45 no.1
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• pp.82-96
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• 2019

Objective: The aims of this study were to provide the basic data for establishing a precautionary management policy and to develop a methodology for selecting a radon management priority target area suitable for the Korean domestic environment. Methods: A suitable mapping method for the domestic environment was derived by conducting a quantitative comparison of predicted values and measured values that were calculated through implementation of two models such as IDW and RBF methods. And a qualitative comparison including the clarity of information transmission of the written radon map was carried out. Results: The predicted and measured values were obtained through the implementation of the spatial analysis models. The IDW method showed the lowest in the calculated mean square error and had a higher correlation coefficient than the other methods. As results of comparing the uncertainty using the jackknife concept and the concept of error distance for comparison of the differences according to the model interpolation method, the sum of the error distances showed a modest increase compared with the RBF method. As a result of qualitatively comparing the information transfer clarity between the radon maps prepared with the predicted values through the model implementation, it was found that the maps plotted using the predicted values by the implementation of the IDW method had greater clarity in terms of highness and lowness of radon concentration per area compared with the maps plotted by other methods. Conclusions: The radon management priority area suggests selecting a metropolitan city including an area with a high radon concentration.

• Explosives and Blasting
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• v.29 no.2
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• pp.59-66
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• 2011

A variety of risks caused by natural, technological and biological hazards threaten a business continuity of an organization. Business continuity is very important issue for all organizations and its proper management may control success and failure of an organization. Business continuity plan (BCP) may be defined as a management process which provides a business continuity. BCP includes risk management, operational continuity plan, response/ recovery, exercise/study and crisis communication, etc. Risk management is a systematic method to identify, analyze, evaluate and treat emergency risks and risk assessment is composed of identifying, analyzing and evaluating emergency risks. Risk assesment is the first step for making BCP. In this study, risk assessment has been conducted for sewer laying project. Through assessing risks, 18 risks that may threaten the construction operation are identified and it is founded to be that high levels of risks which require treatment are 'collapse of excavation surface', 'breakage of ground infra-facilities', 'noise & dust dispersion' and 'rise of material costs'.

• Journal of the Architectural Institute of Korea Planning & Design
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• v.35 no.6
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• pp.3-12
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• 2019

Current risk assessment methods typically determine accident risks embedded in construction projects by combining severity and frequency; however, they do not reflect the characteristics of construction projects. To solve the problem, this study aims to develop a novel risk assessment method that combines severity, frequency, and disaster influence factors (i.e., weather conditions and worker's characteristics) for assessing risks of activities occurring on a construction site actually. In this study, a severity was estimated by death against victims, and a frequency was estimated by the victim rate. The frequency was then converted to probability taking disaster influence factors into account. Thus, instead of considering severity and frequency for assessing the original risks (RO), the proposed method uses severity and probability to yield adjusted risks (RA) for each activity. A case study was conducted to determine if the proposed method works as intended in a real setting. The results show that RA is more sensitive to disaster influence factors than RO and, therefore, is able to assess the actual risks reflecting the working environment and conditions of a construction site. This study contributes to risk management of construction projects by offering a risk assessment method that measures a possibility of potential disasters from the probabilistic perspective. This method would help project managers assess accident risks in a more systematic and quantitative manner.

• Journal of Electrical Engineering and Technology
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• v.9 no.3
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• pp.789-795
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• 2014

In a demand response (DR) market run by independent system operators (ISOs), load aggregators are important market participants who aggregate small retail customers through various DR programs. A load aggregator can minimize the allocation cost by efficiently allocating its demand response resources (DRRs) considering retail customers' characteristics. However, the uncertain response behaviors of retail customers can influence the allocation strategy of its DRRs, increasing the economic risk of DRR allocation. This paper presents a risk-based DRR allocation method for the load aggregator that takes into account not only the physical characteristics of retail customers but also the risk due to the associated response uncertainties. In the paper, a conditional value-at-risk (CVaR) is applied to deal with the risk due to response uncertainties. Numerical results are presented to illustrate the effectiveness of the proposed method.

• Journal of the Korean Society for Aviation and Aeronautics
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• v.26 no.4
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• pp.149-154
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• 2018

Risk Based Oversight is a way of performing oversight, where planning is driven by the combination of risk profile and safety performance. Risk Based Oversight enables prioritization and allocation of State's safety management resources commensurate with the safety risk profile of each service provider. This paper presents the concept of Risk Based Oversight and applies it to the current Korean aviation safety oversight process. In particular, this study presents a method for generating operating profiles, one of the key concepts of Risk Based Oversight. Operations Specifications of Part 121 Airlines can generate operating profiles. In this study, a practical study was conducted to generate the operating profile and scoped DCTs using Part 121 Airlines's Operations Specifications.