• Korean Journal of Construction Engineering and Management
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• v.12 no.1
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• pp.141-152
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• 2011

The market volume of urban regeneration projects has steadily increased, thereby mixed-use development also shows significant market growth. However, previous researches on urban regeneration mainly deduced suggestions and plans for institution improvement based on comparison between projects implemented the inside and outside of the country. Whereas, researches on project management closely related to project success were limited, particularly in performance management. Accordingly, this research aims at developing a program performance management framework for public clients so as to succeed mixed-use development projects. Through extensive literature review and expert interview, this research developed performance indices for diverse facilities, risk management framework and integrating method of program performance score. The proposed framework is able to consider total life cycle from basic planning to maintenance phase and to check real-time performance level. Moreover, risk management framework can periodically assess and control the level of inherent risks within performance indices. The results can contribute to improve existing performance management practices and be basis for a web-based system developed in future.

• Journal of the Korea Institute of Building Construction
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• v.20 no.1
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• pp.83-91
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• 2020

The recent bridge construction projects is demanded more sophisticated risk management measures and loss forecasts to brace for risk losses from an increase in the trend of bridge construction. This study aims to analyze the risk factors that caused the loss of material in actual bridge construction and to develop a quantified predictive loss model, based on the past record of insurance payment by major domestic insurance companies for bridge construction projects. For the development of quantitative bridge construction loss model, the dependent variable was selected as the loss ratio, i.e., the ratio of insurance payout divided by the total project cost, while the independent variable adopted 1) Technical factors: superstructure type, foundation type, construction method, and bridge length 2) Natural hazards: typhoon and flood 3) Project information: construction period and total project cost. Among the selected independent variables, superstructure type, construction method, and project period were shown to affect the ratio of bridge construction losses. The results of this study can provide government agencies, bridge construction design and construction and insurance companies with the quantitative damage prediction and risk assessment services, using risk indicators and loss prediction functions derived from the findings of this study and can be used as a guideline for future basic bridge risk assessment development research.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.30 no.3D
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• pp.295-302
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• 2010

Since the late 1990s, the BOT mode in China has been extensively used in the water sector in order to attract private investment, improve technical and operational efficiency, and expand the coverage of water services. The BOT mode has been hailed as this provides a win-win structure between the government and private players through formalized procedures and an optimal risk allocation. However, recent market analyses show that some foreign investors are reluctant to participate in the market or even retreat due to uncertainties and risks in the market. This study aims to explore various risks in the Chinese water BOT market based on the thorough literature review, fieldwork, and the case studies on the two wholly foreign-owned BOT water projects: the Chengdu No. 6 and the Shanghai Dachang Water Supply BOT projects. The research results indicate that the Chinese BOT market embraces high risks in political, institutional and legal, and financial systems. The key to a successful takeoff of the BOT mode in the Chinese water market depends on the extent to which the government will be able to remove risky factors in political, institutional and legal, and financing systems. This research outcome will provide a useful reference to the Korean construction companies which consider expanding business to overseas water markets in the form of public private partnership.

• Korean Journal of Construction Engineering and Management
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• v.18 no.6
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• pp.65-77
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• 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
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• v.17 no.2
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• pp.90-98
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• 2016

High-rise buildings construction project have various risk factors. Major risk factors are negative results such as time delay and increase of costs. Therefore, this study was analyzed risk factors in construction stages of high-rise buildings using by PROMETHEE technique. For this, this research were identified risk factors through experts Focus Group Interview(FGI). And, PROMETHEE was used to setup evaluation standard for analysis of high-rise building construction risks. Next, the standard of evaluation index calculation was composed by using the definition level in PDRI. Preference function and evaluation index were identified through questionnaires. Through these processes, this study has calculated the importance of high-rise building construction risks using by PROMETHEE technique. As a result, high degree risk factors were as following. These are 'Operation plan of material lifting', 'Outrigger & Belt Truss Construction', 'Foundation work plan of high-rise building' and 'Considering a Structure concept of high-rise building'.

• Journal of Technology Innovation
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• v.25 no.1
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• pp.35-60
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• 2017

In this study, the effects of Venture Start-up's Technological Capabilities on Financial Stability and Possibility of Insolvency was investigated by use of SEM(Structural Equation Model). Technological Business Capabilities include CEO's Technological Capability, Management Specialization and the Feasibility of the Investment plan. The empirical data for this study were taken from the technology assessment data of Korea Technology Guarantee Fund(KTGF) on 1,419 Venture Start-ups from 2011 until 2012 and the financial data of the following 2 years of the sample. Venture Start-ups established within 7 years, were selected for this study's sample from viewpoint of their 'High-Risk High-Return' characteristic. The results are as follows : Manpower including CEO's Technology-related Knowledge and Experience, Management Organization's Technological Specialization and Cooperativeness, Reasonable Investment and Financing Planning etc. were proved to improve Financial Stability, and therefore reduce Possibility of Insolvency.

• Korean Chemical Engineering Research
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• v.54 no.3
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• pp.360-366
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• 2016

The Propulsion Test Facilities for the development of Korea Space Launch Vehicle-II are being built, some test facilities are completed and various combustion tests are running. The Propulsion Test Facilities consists test-stand, which carries out tests for engine development model, and various sub-systems and vessels containing LOX and Jet A-1 as propellant. There are always risks of fire and explosion at the test-stand since engine development model is conducted at test-stand with real combustion test with very high pressure, mixed propellant and high energy. In this paper, in order to establish the consequence analysis and risk reduction measures in the Propulsion Test Facilities, followings are considered. 1) a propellant leak accident scenario is assumed in test-stand. 2) TNT equivalent model equation based on blast wave of the explosion was used to analyze blast overpressure and impacts. Also, technical, systematic and managemental measure is described to ensure risk reduction for propulsion test facility.

• Journal of Korea Society of Industrial Information Systems
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• v.26 no.5
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• pp.79-94
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• 2021

Despite the importance of the supply chain risk due to the negative word-of-mouth (NWOM) in social media, related research is insufficient. Thus, this study analyzes how the NWOM of the product is distributed through social media and the characteristics of the distributor based on social exchange theory. For this purpose, we collected information on car recalls from four companies using Twitter from the National Highway Traffic Safety Administration (NHTSA). Based on the Seed Tweet, a Re-Tweet (RT) network was constructed to examine the distribution and spread of NWOM, and regression analysis was performed to test the hypothesis. As a result, it was confirmed that NWOM is a small world network structure that spreads around hub users connected to many users. Moreover, it was found that the more interactive and reciprocal relations the first distributor has, the greater the speed and scale of distribution of NWOM.

• Korean Journal of Construction Engineering and Management
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• v.12 no.5
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• pp.146-154
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• 2011

Korean contractors have been maintained sustainable growth since entering into overseas construction market for the first time in 1960' s. In 2010, Korean contractors ordered 761 billion (USD) from overseas markets. Especially, billion (USD) were earned by Korean contractors in overseas plant construction market which account for more than 80% of the total amount by Korean contractors. Nevertheless, many Korean contractors are suffering from lack of technological competitiveness and construction management skills in the design phase compared with global leading contractors. These conditions have directly effect on the success of projects in terms of cost, duration, and quality. So, this study focused on identifying the risk factors and developing risk priority method for the design phase of LNG plant projects whose market is expanding. Research procedures were conducted by the following three steps. First, total 57 risk factors were identified in design phase through extensive literature reviews and experts survey. Second, the authors developed risk priority method which are more suitable for design phase of LNG plant projects by using three criteria, Probability(P), Impact(I), and Coordination Index(CI). Finally, the suitability of risk priority method and practical applicability were verified through expert survey and interview. Consequently, if korean contractors use the suggested risk factors and priority method based on their own know-how and experiences, then more reasonable and rational risk management will be conducted in the design phase of LNG plant projects.

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