• Industrial Engineering and Management Systems
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• v.9 no.1
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• pp.41-53
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• 2010

An existing risk diagnosing methodology (RDM) diagnoses corporate risk for product-innovation projects. However, it cannot evaluate and compare the risk levels of multiple alternatives in the product development stage. This paper proposes a modified risk diagnosis method to fill the gap of risk evaluation in selections of innovative product alternatives and the application of the method will be also illustrated by a case problem on alternative selections in electrical dimmer designs. With RDM as the foundation, a modified RDM (MRDM) is proposed to deal with the problem of selecting innovative project alternatives during the early stages of product development. The Bayesian network; a probabilistic graphical model, is adopted to support the risk pre-assessment stage in the MRDM. The MRDM is proposed by incorporating the risk pre-assessment stage into the foundation. By evaluating the engineering design risks in two electrical dimmer switches, an application of the MRDM in product innovation development is successfully exemplified. This paper strengthens the existing methodology for RDM in innovative product development projects to accommodate innovative alternatives. It is advantageous for companies to identify and measure the risks associated in product development so as to plan for appropriate risk mitigation strategies.

• Korean Journal of Construction Engineering and Management
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• v.19 no.5
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• pp.32-42
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• 2018

Since the success or failure of VE projects depends on the capabilities of participants, including owners, construction managers, architects, general contractors and VE experts, it is important to follow systematic procedures. However, it is often the case that only a rough evaluation is performed, or the rough and detailed evaluations are integrated in actual VE tasks. In this case, it is difficult to analyze and evaluate the alternatives in terms of risk, even for the important alternatives. This in turn leads to the so-called returning alternatives where the alternatives proposed in the preceding stage are returned to the original plans in the following stage, and thus the repetitive work for the alternatives often decreases the efficiency of the VE task. In this regard, this study proposed a risk assessment process for VE alternatives in order to minimize the occurrence of returning alternatives based on the systematic analysis and evaluation of VE alternatives. It will increase the efficiency of VE tasks by reduces the number of regression alternatives.

• 시스템엔지니어링워크숍
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• s.4
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• pp.123-134
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• 2004

This paper deals with the feasibility analysis and alternatives for infrared detector development. The purpose of this paper analyze development requirement and feasibility study in both technology and cost. We get raw input data for system engineering process from development and technical expert, and then analyze cost and technology for development feasibility, and alternative study. Infrared Detector is core component of Thermal Imaging System and developed by ADD from 2006 to 2008 year. Technical level is analyzed by TRL(Technical Readiness Level) and AOA(Analysis of Alternative) is done by development and production cost estimate. We use SEER-H tool for cost estimate, that is parametric cost estimate tool based on Knowledge Base. Also this paper presents risk analysis for project management because it is necessary to risk driver management during the infrared detector development. The result of IR Detector feasibility and alternative study will be used in technical and cost analysis. This study can help those who are related to the cost analysis and development feasibility of other weapons

• Journal of Korean Society for Quality Management
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• v.17 no.1
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• pp.82-88
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• 1989

This paper has provided a systematic technique, the evaluation of the distribution with the NPV and the derivation of the IRR in the investment alternatives, for the cost estimating analysts, The proposals of investment alternatives are included the venture capital under risk and probabilities at each events, within the cash inflows are occuring at random timing. Therefore, we have considered the followings ; 1) the first cash outflow is deterministic, 2) the cash inflows are random variables with known distributions, 3) the lengths of the time intervals between the cash inflows are independently distributed and independent of the cash inflows. In this paper, the first two moments of the distribution, the Laplace Transforms and the convolutions are computed for both independent cash inflows and mutually exclusive alternatives as in the case of quite correlated cash inflows.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.36 no.3
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• pp.529-534
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• 2016

The paper suggests risk management methodology for alleviating casuality accidents at urban railway stations. Risk management deals with countermeasures for reducing accident probability or consequences to reach at the certain level of risk. First of all, Economic evaluations using cost and benefit for all the alternatives are performed. The alternatives exceeding B/C ratio greater than 1, each alternative is applied in the order of higher B/C ratio. this process is repeated when the level of risk is reduced as low as reasonably practical (ALARP). In order to determine the level of ALARP, Level of Service (LOS) for casuality risk at urban railway stations is proposed. The ALARP level is set to the LOS "C". Finally, a case study is applied to the Jongno 3-ga station, which is a highest risky station among all the stations operated by Seoul Metro and Seoul Metropolitan Rapid Transit Cooperation (SMRT).

• Journal of Korean Society for Quality Management
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• v.33 no.3
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• pp.135-148
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• 2005

This paper considers a six sigma project for reducing the project costs through project risk management. The project follows a disciplined process of five phases: define, measure, analyze, improve, and control. A risk management process map is used to identify process input and output variables. Seven key process input variables are selected by using C&E diagram and X-Y matrix and finally four vital few input variables are selected by the related statistical analysis. The optimum alternatives of the vital few input variables are obtained by the method of PUGH matrix. The process is running on control plan and we obtained substantial project cost reductions in early stage of the control phase.

• Journal of the Korean Operations Research and Management Science Society
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• v.18 no.2
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• pp.45-55
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• 1993

In multiattribute decision making a decision maker (DM) can choose the best alternative if his/her multiattribute utility function and the joint probability distribution of outcomes are exactly known. This paper develops multiattribute stochastic-statistical dominance rules which can be applied to the situation when neither of them is known exactly, that is, when the DM cannot calculate the expected utility for each alternative. First, the notion of relative risk aversion is used dominance rules are developed to screen out dominated alternatives so that hi/she choose the best one among the remaining nondominated alternatives.

• Journal of Korea Water Resources Association
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• v.35 no.6
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• pp.651-664
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• 2002

The main purposes of dam safety assessment are to predict risk of an existing dam and to reduce the identified risks reasonably. This study determined the risks of an existing dam for each different dam breach scenario using risk analysis. In addition, the application of risk analysis in the dam safety assessment made possible to compare and evaluate a variety of alternatives that may reduce risk of an existing dam with respect to the possibility of dam failure and economic efficiency, On the ground of the risk analysis results, the dam safety analysts can obtain better understanding and more information regarding the risk of and existing dam and recommended alternatives. Decision-makers will be able to manage risk of an existing dam efficiently by spending their affordable money and resources on the alternatives that are expected to reduce the risk of an existing dam practically.

• Proceedings of the Korea Society of Environmental Toocicology Conference
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• 2003.10a
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• pp.127-128
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• 2003

During the past decade a reduced risk pesticide registration program has been in operation in the United States (Racke, 1992). The general principle of the reduced risk pesticide registration program in the U.S. is to give registration priority and accelerated approval to products with the most favorable characteristics as compared to currently available alternatives (EPA, 1997). The overall objective is to accelerate the introduction of these types of products so that marketplace choices rather than increased regulatory restrictions can lead to replacement of older products and technologies with newer ones. Under the program, pesticides classified as “reduced risk” products must meet several or all of the following criteria as compared with currently available alternatives: $\textbullet$ Reduced risks to human health $\textbullet$ Reduced risks to non-target organisms (e.g., fish, birds) $\textbullet$ Reduced potential for contamination of environmental resources (water, air, soil) $\textbullet$ Broadened adoption of integrated pest management

• Korean Security Journal
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• no.10
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• pp.189-213
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• 2005

Risk management should be controlled systematically by effectively evaluating and suggesting countermeasures against the various risks which are followed by the change of the society and environment. These days, enterprise risk management became a new trend in the field. The first step in risk analysis is to recognize the risk factors, that is to verify the vulnerabilities of loss in the security facilities. The second step is to consider the probability of loss in assessing the risk factors. And the third step is to evaluate the criticality of loss. The security manager will determine the assessment grades and then the risk levels of each risk factor, on the basis of the result of risk analysis which includes the assessment of vulnerability, the provability of loss and the criticality. It is of great importance to put the result of risk analysis in mathematical statement for a scientific approach to risk management. Using the risk levels gained from the risk analysis, the security manager can develop a comprehensive and supplementary security plan. In planning the risk management measures to prepare against and minimize the loss, insurance is one of the best loss-prevention programs. However, insurance in and of itself is no longer able to meet the security challenges faced by major corporations. The security manager have to consider the cost-effectiveness, to suggest the productive risk management alternatives by using the security files which contains every information about the security matters. Also he/she have to reinforce the company regulations on security and safety, and to execute education repeatedly on security and risk management. Risk management makes the most efficient before-the-loss arrangement for and after-the-loss continuation of a business. So it is very much important to suggest a best cost-effective and realistic alternatives for optimizing risk management above all, and this function should by maintained and developed continuously and repeatedly.