• Korean Journal of Construction Engineering and Management
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• v.14 no.1
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• pp.82-90
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• 2013

In the construction industry, there are so many qualitative factors affecting the performance of a project. So it is crucial to measure the factors in an effective way in order to analyze the interrelationship among the various factors. To improve the performance level of a project, it is also important to identify the most appropriate management practices which are inter-linked with the subject project. The purpose of this study is to develop a project performance management system (PPMS) to quantitatively analyze the variety of project performance data and identify the best management practice to increase the potential level of a particular performance area. Using a comparative statistical method, this study developed a quantification method and web-based computerized system to enhance the usage of the system. The system, however, is still under the validation stage because of the shortage of data set. In the future, when more and more completed project data are stored in the system, the system would play a crucial role in predicting the performance level and matching the best management practice for a subject project. In addition, the system can also be modified as a tool for a business- or industry-level system by incorporating the existing enterprise resource programs.

• 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.

• Journal of the Korea Institute of Building Construction
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• v.6 no.4 s.22
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• pp.53-60
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• 2006

Quality control and safety represent increasingly important concerns for project managers. In the worst case, failures may cause personal injuries or fatalities. Accidents during the construction process can similarly result in personal injuries and large costs. 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 with 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 more 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.

• Korean Journal of Construction Engineering and Management
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• v.7 no.1 s.29
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• pp.168-175
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• 2006

Since the partly changed 'Private Investment Act for Social Infrastructure Projects' set forth in January 2005, the number of BTL(Build-Transfer-Lease) projects offered to the market has rapidly increased. The scope of BTL projects offered covers not only legally defined facilities but several facilities for the private schools. A BTL project, by definition, is a way of project management that includes the entire process of development such as planning, design, construction and operation over the period of 20-30 years. As a result, various types of risk may happen at each stage of the project and it is extremely important to efficiently control the sensitive factors that affect the risk profiles of the project. The examples of the sensitive factors are construction cost, interest rate, discount rate, lease amount, rental fee, O&M cost and so on. This study examines the characteristics of these sensitivity factors, analyzes their impact on the project feasibility and suggests the alternatives to manage them efficiently.

• Journal of the Korea Institute of Building Construction
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• v.15 no.4
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• pp.425-431
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• 2015

Since the construction of Kori 1 was completed in 1978, the construction projects for nuclear power plant are increasingly expanded into domestic and foreign sites. However, some of construction sites of nuclear power plant have the problems of process delay and cost loss due to lack of ability of risk management. The construction of reactor containment building in nuclear power plant is especially dotted with many risk factors because it needs professional skills and large-scale resources due to long duration compared with different construction phase. Therefore, it needs the study that analyzes risk factors expected in construction of reactor containment building and suggests way of stable performance of projects. So, this study assesses risk factors of construction of reactor containment building. For the objectives, this study uses survey for group of minority specialists of 36 experts. The risks of 24 factors is classified by criterions of process, cost, safety, and quality and the results of assessment is analyzed by analytic hierarchy process. As the results, the importance and priority of risk factors classified by each criterion were calculated and the applicability of analytic hierarchy process was identified to analyze risk factors of nuclear power plant construction. These will be baseline data for risk management in construction phase of reactor containment building.

• Korean Journal of Construction Engineering and Management
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• v.6 no.3 s.25
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• pp.135-143
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• 2005

The purpose of this study is to diminish the risk through identifying the risk factors occurring in the process of real estate development projects, and analyzing and coping with the risk factors, and enable stable advance in the development process by improving the roles and work distribution of the project investor. The results of this study are as follows : 1) identifying the risks of contractions from the step of selecting the sites must be made possible through supplemental human resources expertise in plan and construction of the operation 2) as an improvement scheme, heightening the penetration wall of development projects from the investors, proposing a registration law and a selection standard of construction companies to investors' cooperating companies enabling the growth of superior investors.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.43 no.1
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• pp.91-98
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• 2023

Since risks occurring in construction projects can have a significant impact on schedules and costs, there have been many studies on this topic. However, risk analysis is often limited to only certain construction situations,and experience-dependent decision-making is therefore mainly performed. Data-based analyses have only been partially applied to safety and contract documents. Therefore, in this study, cluster analysis and a Word2Vec algorithm were applied to formal documents that contain important elements for contractors or clients. An initial classification of document content into six types was performed through cluster analysis, and 157 occurrence types were subdivided through application of the Word2Vec algorithm. The derived terms were re-classified into five categories and reviewed as to whether the terms could develop into potential construction risk factors. Identifying potential construction risk factors will be helpful as basic data for process management in the construction industry.

• Korean Journal of Construction Engineering and Management
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• v.20 no.1
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• pp.73-85
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• 2019

Since the beginning of a new century, many Korean construction and engineering companies are facing a very dynamic and fast changing business environment which includes severe competition, higher risk, economic depression, declining revenues and profits, etc. In order to cope with these challenges, they need to secure special capabilities to actively adapt to the paradigm changes. One of those capabilities could be project management capability which allows us to manage organizational resources dynamically and integratively based on project portfolio management concept. The objective of this study is to investigate how the dynamic capability of a project-based organization to control the resource affects the firm performance and the competitive advantages. Data was collected from the construction and engineering companies in South Korea by using survey questionnaire, and analyzed for empirical tests by using statistical methods such as structural equation modelling and path analysis. The results showed that the organizational resources, if they had the VRIN characteristics, would have positive impacts on creating the dynamic capabilities for project organization. In turn, the dynamic capabilities of a project organization would have impacts on improving business performance and creating competitive advantages. Also, it was found that the organizational resources may have direct impact on business performance and competitive advantages. The academic contribution of this study is that it attempts to integrate resource based view and the dynamic capability theory about creating competitive advantages for project based organization. This study also provided practical implications to the companies in construction industry by showing how to use organizational resources strategically to create competitive advantages.

• Korean Journal of Construction Engineering and Management
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• v.22 no.2
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• pp.3-11
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• 2021

Myanmar is an undeveloped country with high development value among Asian countries. Therefore, various countries including the U.S. are considering entering the market. In this respect, demand for real estate development project is forecast to grow on increased inflow of foreigners and Myanmar's economic growth. However, Myanmar is a high-risk country in terms of overseas companies, including national risk. In this study, we conducted an in-depth interview with experts (law, finance, technology, and local experts) after analyzing data on Myanmar to extract risk-causing factors. Through this, 106 risk factors were extracted, and the final risk classification system was established by conducting three-time groupings using the affinity diagramming. And the relative importance of each factor was presented using the analytic hierarchy process (AHP) technique. As a result, the country-related risk, the fund-related risk, and the pre-sale-related risk were highly important. The research results are expected to provide risk management standards to companies entering the Myanmar real estate development type project.

• Korean Journal of Construction Engineering and Management
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• v.6 no.1 s.23
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• pp.109-116
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• 2005

Recently, the design-build delivery system is being generalized in domestic construction project. The design-build system is becoming an increasingly preferable alternative to design-bid-build delivering method. In design-build project, however, a large construction company and design firm make up consortium as a design-build contractor rather din single company performs design and construction work. In this case, usually the construction companies take a leading role but due to their lack of managerial t31ow-how in the design-build system, they could miss the merits of this approach. Therefore, it is necessary to investigate throughly the function and information flows all over the design-build project. This research suggests a process model and database in the whole phase of design-build project. This process model and database system will also support to improve the consistency of functional process and minimize incoherent activities of the design-build projects.