• KIEAE Journal
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• v.8 no.2
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• pp.79-86
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• 2008

A housing project is very sensitive the changing environment. Therefor, a housing project is the high risk. Therefor in order to be succeed the project it becomes necessary to effectively manage the risk involved in the process of the housing project. This study analysed the risk factors that involved in the process of the housing project as compared with the precede research. The results of this research are as follows : First, complete feasibility study and verification with conviction in market and environment are required. And, securing organization and specificity for simulation and variation of environment are required in the process by step. And then, complaint and flaw are required in the final stage. The results of this study can be used as the guideline to make the risk management system for the housing project.

• Environmental and Resource Economics Review
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• v.24 no.3
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• pp.551-572
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• 2015

Given the presence of global warming, the economic impact of climate changes on output sales has been discussed in the literature, but rarely with empirical evidences. In this present study, a simple log-model was employed to identify the economic impacts of weather changes in manufacturing and service sectors in Korea. For this empirical exercise, weather variables including the CDD (cooling degree days) and HDD (heating degree days) were computed using the Korea's meteorological records covering the period 1970-2012. According to estimation results, 26.7% (144 over 539) and 27.9% (64 over 229) of the manufacturing and service sectors, respectively, are found to be weather-sensitive.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• 2004.11a
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• pp.408-413
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• 2004

Early planning phase of private development project is an important part in mercy of failure and success of all project. Hut reliability of analysis result existing planning phase in not high to the importance. So we analyzed a basic problem point through case study and research data analysis of planning phase in private development project. After this, there is a cause in no establishment of systemic model about work processing and method of planning phase. We would like to suggest the solution through establishment of planning phase analysis processing and risk management model. We think that suggested analysis method increase the credibility of analysis result. With this, we anticipate we suggest the guideline in project process phase and that assist the effective accomplishment of project.

• Proceedings of the Korean Institute of Building Construction Conference
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• 2014.11a
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• pp.212-213
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• 2014

The purpose of this study is to suggest analysis model of RCB construction in nuclear power plant. For the objective, This study drew the risk factors of RCB construction from existing literature. The results of the study proposed analysis model made hierarchy in rebar, form, and concrete work. These will be baseline data for risk management in construction project of nuclear power plant.

• Korean Journal of Construction Engineering and Management
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• v.17 no.3
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• pp.90-97
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• 2016

Since Korean construction firms have steadily advanced into the international market, small and medium construction companies (SMCCs) have also advanced in such market. SMCCs's recent trend have clearly shown the changes of contract types from single subcontractor projects to multiple general contracting projects. However, among those multiple projects performed by SMCCs, 1 out of 3 projects were deficit projects that impact the overall pe rformance of the firm. To increase such performance, risk management for in international construction must be managed at the enterprise level for SMCCs. This research aims to create a multiple project management model for SMCCS that employs the concept of acceptable risk to assess the limit risk level for corporation to acceptable. Using the accumulated data from previous survey and International Construction Association of Korea (ICAK), integrated risk of each firm and their profitability of each project are analyzed. Through the analysis, each firm's acceptable risk level is derived. Through the two research steps, acceptable risk algorithm was developed based on corporate integrated risk and profit correlation. To prove the acceptable algorithm relevance, financial statement analysis of 3 corporation was derived that level of acceptable risk and financial statement were available. Through the approach, this research allows the firms to analyze the firm's capability and find projects that suits the firm's situation and capability.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.43 no.6
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• pp.785-791
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• 2023

Risk management is essential for preventing accidents arising from uncertainties in TBM tunnel projects, especially concerning managing the risk of TBM tunnel collapse, which can cause extensive damage from the tunnel face to the ground surface. In addition, prioritizing risks is necessary to allocate resources efficiently within time and cost constraints. Therefore, this study aimed to establish a TBM risk database through case studies of TBM accidents and determine a risk priority for TBM tunnel collapse using the Bayes theorem. The database consisted of 87 cases, dealing with three accidents and five geological sources. Applying the Bayes theorem to the database, it was found that fault zones and weak ground significantly increased the probability of tunnel collapse, while the other sources showed low correlations with collapse. Therefore, the risk priority for TBM tunnel collapse, considering geological sources, is as follows: 1) Fault zone, 2) Weak ground, 3) Mixed ground, 4) High in-situ stress, and 5) Expansive ground. In practice, the derived risk priority can serve as a valuable reference for risk management, enhancing the safety and efficiency of TBM construction. It provides guidance for developing appropriate countermeasure plans and allocating resources effectively to mitigate the risk of TBM tunnel collapse.

• The Korean Journal of Applied Statistics
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• v.24 no.4
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• pp.597-607
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• 2011

Value at Risk(VaR) is being widely used as a simple tool for measuring financial risk. Although VaR has a few weak points, it is used as a basic risk measure due to its simplicity and easiness of understanding. However, it becomes very difficult to estimate the volatility of the portfolio (essential to compute its VaR) when the number of assets in the portfolio is large. In this case, we can consider the application of a dimension reduction technique; however, the ordinary factor analysis cannot be applied directly to financial data due to autocorrelation. In this paper, we suggest a dimension reduction method that uses the time-series factor analysis and DCC(Dynamic Conditional Correlation) GARCH model. We also compare the method using time-series factor analysis with the existing method using ordinary factor analysis by backtesting the VaR of real data from the Korean stock market.

• Journal of the Korean Data and Information Science Society
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• v.21 no.1
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• pp.71-86
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• 2010

In life insurance, the net premium is derived based on the expected life time distribution and expected interest rate. The losses or risks of the insurer are significantly affected by the obtained net premium. Thus, in life insurance, these two factors, the life time distribution and expected interest rate, are considered as important influential factors. In this paper, we investigate the effect of these influential factors on the net premiums, management risks, and the probability of losses. Furthermore, relative influence of these factors is also studied.

• The Korean Journal of Financial Studies
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• v.14 no.1
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• pp.119-158
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• 2008

본 연구에서는 복합금융그룹의 부실위험을 그룹전체기반 측도로 측정하는 방법론을 비교하고 국내 복합금융그룹의 자료를 이용하여 실증분석한다. Joint Forum(2001a) 방법은 연결기준을 사용하여 그룹내 자본의 중복요소들을 상계한 후 필요자본 대비 자기자본비율을 구한다. 신BIS 규제자본 방법은 Vasicek(1987)의 점근적 단일위험 모형을 가정하여 자산의 전체기반 위험을 측정하고 연결기준을 사용하여 자본의 중복계상을 배제하여 측정한다. 개별 경제적 자본 방법은 개별 경제적 위험을 수준별로 합산하여 전체기반 경제적 자본을 빌딩블록 방식으로 합산한다. 경제적 자본 방법은 위험 측정시 겪게 되는 극단적 손실 문제와 결합분포의 비대칭성을 반영할 수 있는 방법을 측정시 포함시킬 수 있다. 국내 복합금융그룹의 자료를 이용하여 실증분석을 한 결과, 첫째, 개별 재무지표에서 복합금융그룹 소속회사들의 ROA, ROA 변동성 그리고 총자산 대비 자기자본비율이 우량한 것으로 나타났다. 특히 가장 비중이 큰 은행산업에서 위 개별 재무지표는 복합금융그룹 소속회사에서 우량하게 나타난다. 둘째, 그룹전체기반 위험자본 측도로서 필요자본 대비 자기자본 비율과 연결기준 BIS비율을 살펴본 결과 은행계열 금융그룹의 부실위험이 낮은 것으로 판단된다. 전체적으로 국내 복합금융그룹의 부실위험은 높지 않은 것으로 판단된다. 이상의 결과를 바탕으로 복합금융그룹에 대한 리스크상시감시방안에의 시사점을 살펴보면, 첫째, 복합금융그룹 소속 금융회사에 대한 리스크 평가시 그룹전체기반 부실위험평가를 반영하여 이를 측정할 필요가 있다. 둘째, 권역별로 통일된 리스크감시를 위해 권역별 자기자본규제의 형평성을 제고할 필요가 있다.

• Korean Journal of Construction Engineering and Management
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• v.8 no.2
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• pp.84-92
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• 2007

To reduce uncertainties and make rational plans, the presumption of contingency against a failure of projects and an occurrence of unpredictable risks is important with accurate estimations as the work progressing. Therefore, if the presumption of contingency reflecting uncertainties carries out at a decision making point of time, be able to prepare for risks. The purpose of this paper is to present a management process of contingency through the performance analysis of project. In the cost planning phase, this study offers a process which is predictable contingency and predicts the range of fluctuation of the cost, laking an advantage of EVM in construction phase. With reflecting the results from this procedure, this study presents a process, rationally manageable contingency.