• Proceedings of the Korean Institute Of Construction Engineering and Management
• /
• 2008.11a
• /
• pp.491-496
• /
• 2008

In spite of economic slump, the Real Estate PF(project financing) market competes for receiving large project orders. While the project is successful, the Real Estate PF still guarantees a high benefit ratio. But the initial stage of the project involves many risks. There are many financial, constructional, legal, and other risks. After searching for possible risks, we must consider a management plan. This study executed a question investigating risk factors and management plans. Those who have studied for 3 or more years have concluded that the question objects are developer, construction company, and financial institution staff. The main management plans take actions for proper benefit rate security and loan repayment. This study has also been verified through the actual case. The study results will help solve the Real Estate PF project's risks.

• Proceedings of the Korea Information Processing Society Conference
• /
• 2015.04a
• /
• pp.518-521
• /
• 2015

최근 건설 프로젝트의 대형화 및 다양한 신공법들의 도입으로 불확실한 위험도 요인들이 점점 증가함으로써 일련의 시스템적 절차에 따른 리스크 관리(Risk Management) 체계를 수립하여 활용하고 있다. 하지만 국내 시공사와 발주사들은 과거 자신의 경험과 직관에 의존하여 리스크를 다루고 있을 뿐 공사와 관련된 요인을 체계적으로 분류하고 수치화하여 관리하는 곳은 거의 찾아 볼 수가 없는 실정이다. 따라서 본 논문에서는 건설 리스크 관리수준 향상을 위해 건설실패지수를 활용한 기업단위의 정량화 시스템을 설계하고, 이를 표준화하기 위한 정부 연계 시스템 구성에 대해 연구하였다.

• Korean Journal of Construction Engineering and Management
• /
• v.16 no.1
• /
• pp.15-23
• /
• 2015

In the construction industry, risk management has gained constant attention as the factor not only to evaluate global competitiveness of the country but also to secure competitiveness of public institutions and private companies. For effective construction risk management, the specific work process improvement that can be employed in the field in terms of risk management of the entire corporation such as financial, insurance and safety management is necessary. To manage construction risks, what is important is the step to identifying inherent risks in the construction project. The identification of risks will be followed by the step to seeking ways to establish and manage strategies responding to the risks. This study suggests ways and processes to make a checkslit to identify risks through case studies. To that end, the focus will be placed on working process improvement of risk identification among stages to manage construction risks such as risk identification and analyses, planning to respond to risks, risk monitoring and management. The case study checklists show that setting up the system to classify risks by stage is helpful to figure out causes of risks to reduce or eliminate risk factors. The checklist making process that considers features of the project is expected to contribute to successful completion of the project by enabling effective risk identification and systematic risk management.

• Korean Journal of Construction Engineering and Management
• /
• v.18 no.6
• /
• pp.65-77
• /
• 2017

Recently, many Korean major construction companies are suffering from profit loss mainly due to a direct impact from delays in their overseas projects. In general, changes are inevitable in a large-scale project, and most of changes are directly linked to construction delay. Therefore, in the event that an extension of time is necessary due to a change, the contractor must manage the delay based on the condition of the contract to effectively manage risks from delay to the completion date. Thus it is important to understand delay protocol defined in the condition of the contract early in the project, but there have been few or no study to propose methodology or tool to support this effort. This paper presents a review on the project planning and controling practices of major Korean construction companies along with the issues on delay claims and disputes in mega-international projects and suggests a tool to assess delay risk in the condition of the contract. To propose a delay risk assessment model for international construction projects, major standard conditions of contract have been reviewed including FIDIC Red Book(1999), PSSCOC(2014) and SIA 9th Edition(2010). To reflect recent trend of major international owners, standard conditions which they are utilizing for their projects also have been reviewed including those of ARAMCO and QP. The model provides a categories of risks to be reviewed on the condition of the contract along with standard level of the risk which is common in the international standard form of the contracts. This study also performed a case study on an actual international project to confirm the effectiveness of proposed model to identify and respond to a delay risk of a project.

• Korean Journal of Construction Engineering and Management
• /
• v.19 no.1
• /
• pp.54-64
• /
• 2018

Currently, as construction businesses develop and diversity, risk became one of the most crucial considerations. Risks are potential and difficult to predict by nature. Also, they are important as they influence delay in construction period and increase of project costs. In construction projects in South Korea and elsewhere, the importance of risk management widely recognized and relevant research is being conducted continuously. The companies use PRM checklist but apply different criteria and items. For efficient risk management in plants, plant PRM checklist is necessary. This study analyzed risk factors that are taken into account in construction projects and proposed a plant PRM checklist based on case analysis and opinions of experts. Also, it rated the frequency and importance of each risk.

• Korean Journal of Construction Engineering and Management
• /
• v.18 no.2
• /
• pp.71-80
• /
• 2017

In recent years, the reduction of international award and project loss by Korean contractors have become a big issue not only in industry but also in academic fields. However, many researches have not focused on small and medium subcontractors but on the large contractors, even though the number of international project by small and medium companies is more than by large companies. Therefore, this study focuses on analyzing the predicted risk before bid and the actual risk after award in international subcontracting projects. In addition, it provides the difference between project performances according to the contract types and the project profitability. This study is expected to give more informed risk knowledge to small and medium subcontractors, which enables them to pay attention to managing risk for better project performances.

• Proceedings of the Korean Institute Of Construction Engineering and Management
• /
• autumn
• /
• pp.242-245
• /
• 2003

Most engineering tasks require collaboration between many users in major hospital Construction Projects that have many risks. Loss of cost and change orders occurred in factors such as information exchange, misunderstandings, advanced Technology in hospital projects. Moreover, changes in context, costs, requirements, deadlines, etc. require negotiation of issues that may modify important project characteristics. Each part of the major hospital construction projects have been rapidly changed technology of equipments. Therefore it is a major challenge to make a high level of communication and to have mutual understanding. The objective of this paper is to reduce risks for the design process and construction process of hospital projects.

• Proceedings of the Korean Institute Of Construction Engineering and Management
• /
• autumn
• /
• pp.454-459
• /
• 2003

Feasibility study on large scale projects like an investment on infrastructure development is very important because it provides fundamental data which determine the total investment size and duration. However, previous feasibility studies have a few problems of ambiguous estimation standards, unsystematical estimation methods, and so on. Accordingly, this study intends to regulate tile problems on economic feasibility as well as financial feasibility study which have been considered more critical in recent time, subsequently presents a reform measure. Also, this study identifies predictable risks during the feasibility study, presents a scheme which lets investor and owner control the risk themselves through a process which uses theoretical and political management plans.

• Korean Journal of Construction Engineering and Management
• /
• v.10 no.3
• /
• pp.83-91
• /
• 2009

Construction industry is a complex industry which should be invested with plenty capital, manpower and resources. Investment factors and inner and outer environmental factors should be managed systemically in terms with risk factors possible to occur. It maximizes the profit to establish construction management by managing risk systemically. While previous studies were executed with risk related to some special progress lively, studies about risk in managing construction company leave much to be desired. Therefore, this study examined risk in the whole construction management, showed the checklist and deduced the quantitative factors through questionnaire analysis from specialists. Also, priority and grade of construction management factors were evaluated by analyzing weight of construction risk factors.

• Proceedings of the Korean Institute Of Construction Engineering and Management
• /
• 2008.11a
• /
• pp.99-105
• /
• 2008

For large-scale projects, supply chain management of construction materials is a key to a successful construction project. Inefficient management would cause significant loss in project cost, quality problems (and possible re-work), delayed delivery, claims, etc. On the other hand, efficient supply chain management system can reduce risks even the given project suffers from tricky details and frequent changes thanks to reduced material loss, shortened delivery time, and the quality outcome; this is a win-win situation for both clients and contractors. This paper presents a next-generation intelligent supply chain management system, which is intended to support large-scale construction projects such as urban high-rise buildings, as a strategic vision of the future construction logistics.