• Korean Journal of Construction Engineering and Management
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• v.9 no.5
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• pp.168-175
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• 2008

Project risk factors are major triggers in cost performance in construction projects. Both owners and contractors are highly concerned in managing their risks in earlier times. As such, it is needed to provide a robust risk evaluation methodology in identifying and assessing the potential risks before project execution. In previous research, risk identification was conducted only in specific phases, i. e., design, procurement, construction. Therefore, the comprehensive approach in risk management was limited and their quantifying method was not well-defined. Since the benefit of planning in earlier times are maximized compared to later times, the risk management should be implemented in earlier planning stage. This study provide a new risk evaluation method by incorporating previous research and extensive literature review. By quantifying each risk factor from an extensive industry survey, the proposed tool can enhance the reliability of each factor weight and also the weights are categorized from a various perspectives, i.e., owners, contractors, lager-scale company, smaller-scale company, building projects. The proposed tool can be also useful in deciding on whether to proceed a particular project and How much the project contingency would be set aside in project execution. The study findings can also expedite the risk management procedure in a more systematic approach.

• Journal of Digital Convergence
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• v.14 no.10
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• pp.159-166
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• 2016

Recent public information project, which has been organized mainly to large companies is a situation that is being reorganized to small and medium-sized systems integration company. However, many of the small and medium-sized companies lack knowledge of the systematic risk management. Thus, in connection with the revenue, it involves a number of problems. Therefore, in this paper, we present a risk element that occurs mainly in the field of the project, providing a model for measuring the risk element by risk level costs associated with this. Through the convergence, we aim at providing a management system that is able to make the project successfully accomplished, predicting the risk that occurs in advance to pursue the project; Based on the proposed model, it is possible to secure a proper size of reserve fund so it is expected to enable companies to ensure the cost of risk analysis.

• Annual Conference of KIPS
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• 2005.11a
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• pp.381-384
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• 2005

소프트웨어의 사용영역이 확대되고 개발 규모가 거대화되고 복잡해 짐에 따라 소프트웨어의 품질과 생산성이 중요해지고 있다. 이러한 상황에서 프로젝트의 리스크를 식별하고 그에 따른 파장을 최소화하는 리스크 관리는 소프트웨어 개발 프로세스의 핵심 관리 기술로 부상하고 있다. 본 논문에서는 기존의 소프트웨어 개발 관리 프레임 워크 상의 리스크 관리를 연구하여 보다 정형화된 리스크 관리 프로세스를 제안하고, 그에 따른 비즈니스상의 효과를 보여준다. 또한 리스크 요인과 프로젝트 혼란 사이의 통계적 예측 식을 제시한다.

• Korean Journal of Construction Engineering and Management
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• v.13 no.5
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• pp.12-24
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• 2012

The Risks in undertaking a construction project comes from many sources and often involves many participants in the project. This study has identified various kinds of risks, assessed the risk factors quantitatively and suggested risk management method for response pertinent in Design Build(Turn Key)type of projects in Korean context. A questionnaire was designed comprising of 145 possible risks in all types of construction projects. The population from owner, consultant and contractor groups was asked to indicate the risks applicable in DB projects. 25 numbers of critical risks in DB projects were identified and further analyzed for reveling inherent relationship between them through factor analysis. Factor analysis revealed 8 risk factors in DB projects. Construction site related, contract related and design related risk factor consisted about 72% of total risk weight. It has been found out about 6%, while considering the mutual dependency, it is about 10% of total cost of DB project. Therefore, It is suggested that 6% to 10% of construction amount as contingency has to be made provision for risk responses in the DB projects.

• Construction Engineering and Management
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• v.25 no.3
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• pp.48-49
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• 2024

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• 2004.11a
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• pp.384-387
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• 2004

It is very important to manage the risk in building construction because construction process has too many internal risk compared with others. So construction managers need more developed risk management system than the Present. While the study for the solution and management of generated risk is comparatively enough, the effort to confirm the risk of construction phase on pre-construction phase haying an major effect on total duration, is insufficient. For supporting the schedule risk management of pre-construction, this study suggests the reclassified risk breakdown structure and the investigation form for advance preparations on pre-construction Phase, which help the Poorly experienced construction manager to make more correct decisions and efficiently to execute risk management.

• 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.

• Korean Journal of Construction Engineering and Management
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• v.10 no.5
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• pp.47-56
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• 2009

As contemporary society becomes information-oriented, major construction companies have recently invested in information management, but small and medium ones have not. Though the small and medium companies recognize the information management is necessary and important, they don't have an ability to possess technical expertises. The purpose of this study is to develop a Schedule Risk Control System based on blogs using IT and web technologies for construction managers in small and medium construction companies. The system makes a chance to identify risk factors and prepare for responses to settle risks happened in preconstruction phases, and enables the managers and headquarters to predict and handle schedule risks by sharing information about risks on the blogs.

• Korean Journal of Construction Engineering and Management
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• v.9 no.1
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• pp.134-142
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• 2008

Recently, international plants construction markets are expending. Specially, oil/gas plants constructions in Middle-East are booming. However, international plants construction projects are high risky. So a risk assessments and managements methodology for international plants construction is needed. In this study, the risk assessment methodology for international plants construction is proposed on the basis of the literature review in the international construction risk assessment methods and the knowledge of experts explored by interview. In addition, case study in Middle East was applied for reviewing these risk assessments and managements methodology for international plants construction.

• Journal of Korean Society of societal Security
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• v.3 no.1
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• pp.61-66
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• 2010

Recently a construction industry introduces information technology that brings about many advantages in the early planning phase, design phase and construction phase. Nevertheless a BIM has a many benefits, it has limits which are not only usually using 3D modeling but also limit of making full use of practical affairs because of a lack of connecting varietals of progress of work. To solve these uppermost limits, this research is presenting unified systems to use in risk management which are efficient management of space and non-space information, space analysis.