• Korean Journal of Construction Engineering and Management
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• v.19 no.5
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• pp.53-60
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• 2018

In particular, the investigation of tendons in PSC Box Girder Bridge should be done in a systematic way. It is important to identify preventative maintenance activities that should be carried out in order to analyze the risk factors by type of representative tensions and to reduce risks in the long term. However, in the current maintenance system, various methodologies for investigating and repairing tensions have been studied, but it is difficult to investigate precisely tensions. Therefore, to apply the risk assessment for screening of tensions to the domestic PSC Box Bridge, we presented a risk matrix evaluation index that is consistent with the state assessment and maintenance system.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.42 no.2
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• pp.229-238
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• 2022

With rapid industrialization since the 1960s, development projects have contributed to the development of the national economy. In addition to the development projects promoted by the government, private project operators are also promoting development projects for reasons such as increased public convenience, insufficient financing of SOC assets, and expansion of their own development projects other than public orders. However, as the economy has been stagnating due to several factors such as continued supply of facilities for decades and recent COVID-19, the success of the development projects are unsure these days. Therefore, this study attempted to analyze project costs through the case of such development projects, and to present a plan to judge and manage the risks of each project cost item in advance. The AHP technique, which is widely used as a risk factor selection method for existing development projects, was used, and items were determined through interviews with experts related to development projects in order to stratify the upper and lower subjects of the risk. We analyzed how the derived risk factors affect the business performance through sensitivity analysis, and finally substituted the risk factors management plan into the risk response strategy and suggested.

• 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.

• Korean Journal of Construction Engineering and Management
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• v.19 no.2
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• pp.25-37
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• 2018

In recent times, private sector allocates the risk between private sector investors in terms of equity transaction and agreement transaction. The additional risk-allocation have made the cash flows of private sector investors fluctuated and some of the PPP projects delayed. Therefore, analyzing the impact of the risk reallocation between private sector investors on their cash flows is critical for encouraging the private sector participants. In this study, a model to evaluate the financial viability of PPP project is developed based on the discounted cash flow analysis. The model can analyze the variability by equity and agreement transaction by identifying key variables of equity transaction, influence factors of agreement transaction, and relationship between the transactions and investor's profitability. It is expected that the private sector can determine the investment decision for PPP projects when the risk reallocation is occurred.

• Journal of Navigation and Port Research
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• v.40 no.3
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• pp.147-157
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• 2016

The trend of globalization and the development of the communication-Information technology have led the organization of a complex supply chains which are more vulnerable to risks. The impact of risk on the supply chain can be adverse so importance of risk management on a supply chain has increased. In order to analyze the risk factors of transport system, this study described about the definition of transport risk and investigated the relationship between likelihood index and effect index of each risk factor. We identified risk factors on transport system and measured likelihood index and effect index of each risk factor. Finally, a numerical risk index, which is a value of total transport system, has been resulted by aggregating all indices. In addition, a case study using the proposed method has done on a heavy vehicle transport context with a transport company.

• Journal of Advanced Navigation Technology
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• v.22 no.6
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• pp.537-544
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• 2018

A national comprehensive aviation test center is being constructed for the purpose of flight tests for development and modification of aircraft or flight inspections for the development of navaids. Flight testing is a high-risk task, so strict risk management processes are required prior to operation. In addition, since the flight test center is subject to the airdrome regulations under the current law, the introduction of the safety management system will enhance safety as usual in ordinary airports. The establishment of a safety management system based on ICAO criteria is an optimal means of ensuring safe and effective operation of the test center and may mitigate the risks that may arise during flight testing. This paper focuses on risk assessment and mitigation required for safety management at the flight test center. We conducted risk assessments on the flight hazards identified in the previous study. Then the high risk group of hazards were selected and risk mitigation techniques such as avoidance, reduction, acceptance, and control were applied.

• Korean Journal of Construction Engineering and Management
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• v.18 no.3
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• pp.105-116
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• 2017

In recent years, large Korean construction companies have suffered serious losses in their overseas business. Many practitioners and researchers have analyzed causes of cost overrun in these projects. However, these arguments have not been empirically verified based on acutal project cases. This study investigated cost overrun rate, contingency, allowance, predicted risk before bidding, and actual and residual risk after award in the 67 international infrastructure projects conducted by 13 large construction companies. The causes of cost overruns are derived as follows. First, they identified the possibility of cost overrun to some extent before the bidding, but did not reflect the enough risk money to bid price. In particular, this behavior was more severe in badly cost-overrun projects. Second, the causes of cost overrun were more influenced by external environmental risk than internal capability risk. However, the internal risk in badly cost-overrun projects was relatively high compared to cost-underrun projects. Third, badly cost-overrun projects failed to mitigate risk. However, cost underrun projects were affected more by low exterior risk conditions than by well mitigated risk. This study provides more informed knowledge in controlling project costs in international infrastructure projects.

• 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.

• The Journal of shipping and logistics
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• v.34 no.4
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• pp.565-581
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• 2018

The purpose of this study is evaluate factor for risk management of hazardous substance at ports. The analysis was conducted by applying Fuzzy-AHP methodology, through a questionnaire for hazardous substance experts from Busan, Gwangyang, Incheon, and Ulsan, which are the major Korean ports. Three measurement areas and nine sub-factors were selected for the study. The results of this analysis showed that "human resource management" (HR) was the most important factor (0.445) in the three measurement areas. After applying the conversion weight, the sub-factors were ranked according to their priority as follows: "a secure of administrator skill" (0.158) had the first rank, "an improvement in administrator duty" (0.150) had the second, and "consolidation of safety education" (0.136) had the third rank.

• Construction Engineering and Management
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• v.18 no.1
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• pp.37-39
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• 2017