• Journal of Digital Convergence
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• v.15 no.7
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• pp.415-424
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• 2017

The purpose of this study was to examine the relationship among public's risk characteristics, risk severity, risk perception and risk acceptability of human stem cell technology. The subjects were 300 Koreans selected. The data were analyzed by the exploratory factor analysis, confirmatory factor analysis, correlation analysis and structural equation modeing analysis. The results were as followed. First, public's risk characteristics on human stem cell technology influenced positively on risk severity. Second, public's risk characteristics on human stem cell technology influenced positively on risk perception. Third, public's risk severity on human stem cell technology influenced positively on risk perception. Fourth, public's risk characteristics on human stem cell technology influenced negatively on risk acceptability. Fifth, public's risk severity on human stem cell technology influenced not significantly on risk acceptability. Sixth, public's risk perception on human stem cell technology influenced not significantly on risk acceptability. These results will contribute to develop the risk communication strategy on the acceptability of human stem cell technology.

• Journal of Korea Technology Innovation Society
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• v.5 no.1
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• pp.59-71
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• 2002

Risk, or exposure to uncertainty, is an inherent of risk-adjusted discount rate. It is therefore important part factor in the determination of risk-adjusted discount rate. This paper suggests the method to quantify risk and explains the process how to transfer quantified risk into incremental discount rate. The estimates of underlying risks will help determine the size of appropriate risk-adjusted discount rate with logical and scientific way when the technology valuation is made.

• Journal of the Korean Society of Safety
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• v.32 no.3
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• pp.83-89
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• 2017

A new technology has provided the nation, industry, society, and people with innovative and useful functions. National economy and society has been improved through this technology innovation. Despite the benefit of technology innovation, however, since technology society was sufficiently mature, the unintended side effect and negative impact of new technology on society and human beings has been highlighted. Thus, it is important to investigate a risk of new technology for the future society. Recently, the risks of the new technology are being suggested through a large amount of social data such as news articles and report contents. These data can be used as effective sources for quantitatively and systematically forecasting social risks of new technology. In this respect, this paper aims to propose a data-driven process for forecasting and assessing social risks of future new technology using the text mining, 4M(Man, Machine, Media, and Management) framework, and analytic hierarchy process (AHP). First, social risk factors are forecasted based on social risk keywords extracted by the text mining of documents containing social risk information of new technology. Second, the social risk keywords are classified into the 4M causes to identify the degree of risk causes. Finally, the AHP is applied to assess impact of social risk factors and 4M causes based on social risk keywords. The proposed approach is helpful for technology engineers, safety managers, and policy makers to consider social risks of new technology and their impact.

• Journal of Science and Technology Studies
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• v.7 no.1
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• pp.33-66
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• 2007

In the post-catchup era, the probability of technology risk are growing according to technology innovation activities with high uncertainty are increasing. Risk acceptance and management are appearing as a more important policy issue. This paper examines the technology risk as a political and social sight and the character of technological risk in the post-catchup era. In the post-catchup, new technology and policy are more undergone trial and err. In particular, we need new approach and policy countermeasures to cope with risky environment and overcome catchup legacy. Accordingly, Korea risk management is needed reshaping of risk management system, increment of risk communication, risk management according to technology type, precautionary approach, bounded trial and err strategy, knowledge accumulation and learning reinforcement.

• Fashion & Textile Research Journal
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• v.6 no.1
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• pp.93-101
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• 2004

The purpose of this study is to examine consumers' risk perception in internet clothing shopping and its relation with technology readiness and the frequency of purchase. Thereafter, this study examines how consumers' risk perception affect service quality and satisfaction at the apparel shopping sites. An on-line survey was made to collect data, and the replies from 785 people, who had an experience of apparel shopping on line, were used in data analysis. From factor analyses, risk perception comprised 3 factors of product related risk, delivery related risk, and security related risk, and technology readiness comprised 4 factors of optimism, innovativeness, discomfort, and insecurity. Based on cluster analysis, consumers were classified into 3 types in terms of the internet risk perception: low risk group, medium risk group, and high risk group. From path analysis, risk perception was decreased with high frequency of purchase and low discomfort and insecurity of technology readiness, and risk perception and service quality had an influence on consumers' satisfaction with the shopping sites.

• Smart Structures and Systems
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• v.21 no.2
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• pp.249-255
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• 2018

Many studies in risk management have been focused on management process, contract relation, and risk analysis in the past decade, but very few studies have addressed project risks from the perspective of risk efficiency. This study started with using Fault Tree Analysis to develop a framework for the decision-making support system of risk management from the perspective of risk efficiency, in order for the support system to find risk strategies of optimal combination for the project manager by the trade-off between project risk and cost of project strategies. Comprehensive and realistic risk strategies must strive for optimal decisions that minimize project risks and risk strategies cost while addressing important data such as risk causes, risk probability, risk impact and risk strategies cost. The risk management in the construction phase of building projects in Taiwan upon important data has been analyzed, that provided the data for support system to include 247 risk causes. Then, 17 risk causes were extracted to demonstrates the decision-making support system of risk management from the perspective of risk efficiency in building project of Taiwan which could reach better combination type of risk strategies for the project manager by the trade-off between risk cost and project risk.

• Journal of Information Technology Applications and Management
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• v.24 no.4
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• pp.117-131
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• 2017

We question whether Korean IT managers consider real options to reduce risks of cloud service implementation. This work investigates the impact of technology risk, relationship risk, economy risk, security risk upon the intention of IT managers to utilize abandon & expansion options. We also analyze moderation effect of centralization level of decision making between these risks and the utilization of real options. Using the survey questionnaire, we empirically find that technology risk, relationship risk and security risk have significant effect upon abandon option and technology risk, relationship risk, and economy upon expansion option. We also find the evidence that centralization level moderates some risks and the direction of moderation effect is to offset the effect of risks on intention to utilize real options.

• Journal of Korea Technology Innovation Society
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• v.11 no.2
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• pp.241-263
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• 2008

Within any income approach, a discount rate is used to convert some projected free cash flow to its presented value. In case of valuing companies, the most frequently used discount rate is the weighted average cost of capital(WACC) at the aggregate level. But technology valuation is different to discounting aggregate corporate cash flow since it is concerned about individual Intellectual property. Therefore, blindly applying standard discount rate such as WACC in technology valuation is unlikely to lead to the right result. The primary focus of this paper is to establish the structure of discount rate for technology valuation and to suggest the method of estimation. To determine an appropriate discount rate for technology valuation, the level of technology risk, market risk and competitive risk should be included in the structure of discount rate. This paper suggests the build-up model which consists of three components as a expansion of the CAPM. It includes (1) a risk-free rate of return, (2) general market risk premium and beta and (3) intellectual property risk premium related to technology risk and specific target market risk. However, there is no specific check list for examining the intellectual property risk until now and no specific method for quantifying its risk into risk premium. This paper developed the 10 element to determine the level of the intellectual property risk and applied estimation function such as linear function, natural log function and exponential function to transform the level of risk into risk premium. The limitation of this paper is that the range of intellectual property risk premium is inferred based on the information of foreign and domestic valuation agency. Finally, this paper explored the development of an intellectual property discount rate for technology valuation and presented the method in order to quantify the intellectual property risk premium.

• Journal of Korean Society for Quality Management
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• v.46 no.3
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• pp.441-452
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• 2018

Purpose: The purpose of this paper is to study quantitative risk grade assessment for objective government quality assurance activities based on risk management in initial mass production for weapon systems. Methods: The Defense quality management regulations and foreign risk assessment documents are referred to analyze problems performing quality assurance actives. The failure rate data, maintainability and cost of products have been studied to quantify the risk Likelihood and impact. The analyzed data were classified as risk grade assessment through K-means Cluster Analysis method. Results: Results show that a proposed method can objectively evaluate risk grade. The analyzed results are clustered into three levels such as high, middle and low. Two products are allocated high, eleven low and seven middle. Conclusion: In this paper, quantitative risk grade assessment methods were presented by analyzing risk ratings based on objective data. The findings showed that the methods would be effective for initial mass production for weapon systems.

• International conference on construction engineering and project management
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• 2007.03a
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• pp.106-118
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• 2007

Little attention has been focussed on a precise definition and evaluation mechanism for project management risk specifically related to contractors. When bidding, contractors traditionally price risks using unsystematic approaches. The high business failure rate our industry records may indicate that the current unsystematic mechanisms contractors use for building up contingencies may be inadequate. The reluctance of some contractors to include a price for risk in their tenders when bidding for work competitively may also not be a useful approach. Here, instead, we first define the meaning of contractor contingency, and then we develop a facile quantitative technique that contractors can use to estimate a price for project risk. This model will help contractors analyse their exposure to project risks; and also help them express the risk in monetary terms for management action. When bidding for work, they can decide how to allocate contingencies strategically in a way that balances risk and reward.