• Smart Structures and Systems
• /
• v.21 no.2
• /
• pp.249-255
• /
• 2018

Many studies in risk management have been focused on management process, contract relation, and risk analysis in the past decade, but very few studies have addressed project risks from the perspective of risk efficiency. This study started with using Fault Tree Analysis to develop a framework for the decision-making support system of risk management from the perspective of risk efficiency, in order for the support system to find risk strategies of optimal combination for the project manager by the trade-off between project risk and cost of project strategies. Comprehensive and realistic risk strategies must strive for optimal decisions that minimize project risks and risk strategies cost while addressing important data such as risk causes, risk probability, risk impact and risk strategies cost. The risk management in the construction phase of building projects in Taiwan upon important data has been analyzed, that provided the data for support system to include 247 risk causes. Then, 17 risk causes were extracted to demonstrates the decision-making support system of risk management from the perspective of risk efficiency in building project of Taiwan which could reach better combination type of risk strategies for the project manager by the trade-off between risk cost and project risk.

• Korean Journal of Construction Engineering and Management
• /
• v.4 no.4 s.16
• /
• pp.201-211
• /
• 2003

Considering about construction projects characteristics, there Is an existing uncertainty which causes inaccuracy or invalidity under decision making situation. Therefore, cost risk analysis of numerous construction projects are Inclined to depend on expert's experiences and subjective judgements. In Korean domestic construction works, however, there is no reasonable method or process for applying subjective elements. Only probabilistic analysis using objective calculation are being used now. This research suggests a cost risk analysis method to analyze quantitatively Cost Impact by risk, and it appraises expert's subjective elements for the purpose of enhancing validity of cost estimation. Moreover, a new cost risk analysis method is introduced for providing convenient user interface in practical business.

• Journal of the Korean Society of Safety
• /
• v.31 no.2
• /
• pp.98-103
• /
• 2016

The goals of this study were to investigate some significant factors to judge level of safety at urban railway construction field and to analyze degree of risk by work classification. Currently, there are lots of construction fields for the urban railway for national transportation, and our government also planned constructing more urban railway in near future. However, most of the researches on safety neglected the degree of risk factors on the urban railway construction field. Safety managers participated in the brainstorming session for deriving decision criteria of the degree of risk (i.e., significant factors). Then, they were asked to answer a structured questionnaire which was developed for deriving most important factors. Finally, the analytic hierarchy process (AHP) was used to analyze level of risk by work classification. The following results were obtained. First, total twelve factors judging degree of risk were found in the brainstorming session. Second, the questionnaire showed four significant factors, including adjacency of obstacle, intensity of work, unsafe condition and work space. Third, the results of AHP showed civil work is the most dangerous work among 6 work types. The results could be used to give the safety management priority on accident prevention efforts among several hazards and to reduce degree of risk in construction field of the urban railway.

• Korean Journal of Construction Engineering and Management
• /
• v.2 no.4 s.8
• /
• pp.62-68
• /
• 2001

The purpose of this study was to Identification the Risk of construction method to protect and reduce of construction period. Risk management is one of the key project management process. Numerous tools are available to support the various phases of the risk management process. We present the results of a study designed to identify the tools that are most widely used and those that are associated with successful project management in general, and with effective project risk management in particular. The study is based on a questionnaire administered to a sample of project managers from construction enterprises. The response data was analyzed in order to find which tools are more likely to be used in the those organizations that report better project management performance and in those that value the contribution of risk management processes.

• Journal of the Korean Society of Safety
• /
• v.28 no.3
• /
• pp.95-99
• /
• 2013

The goal of this study was to investigate some significant factors to influence level of safety at plant construction field and analyze degree of risk by work classification. Currently, there are lots of construction fields for the nuclear power plant for electricity generation, and our government also planned constructing more nuclear power plant in near future. However, much of the safety literature neglected the degree of risk factors on the plant construction field. Safety managers participated in the brainstorming session for drawing decision criteria of the degree of risk (i.e., significant factors). Then, they were asked to answer a structured questionnaire which was developed for drawing most important factors. Finally, the analytic hierarchy process (AHP) was used to analyze level of risk by work classification. The following results were obtained. First, total twelve factors judging degree of risk were found in the brainstorming session. Second, the questionnaire showed four significant factors, including number of workers, working environments, skill of craft and accident experience. Third, the results of AHP showed Architecture work is the most dangerous work among 6 work types. The results could be used to reduce degree of risk in construction field of the nuclear power plant.

• Proceedings of the Korean Institute of Building Construction Conference
• /
• 2010.05b
• /
• pp.103-108
• /
• 2010

The purpose of this study is to analyze of the risk factors for oversea plants construction projects. For this study, risk factors data from related literature review, research organization and construction company was researched and classified under each EPC phases. In addition, a questionnaire survey by plant experts was conducted for analysis of risk weight and costs and time impact on each EPC phases. The results of this study are as follows: First, a detail design errors(engineering phase), a equipment procurement plan(procurement phase), and exchange rate fluctuations(construction phase) were analyzed the highest weight factors. Second, a financing plan(engineering phase), quantity take-off bill(procurement phase), and exchange rate fluctuations(construction phase) were analyzed the highest cost impact factors. Third, detail design errors(engineering phase), a equipment procurement plan(procurement phase), and schedule management errors(construction phase) were analyzed the highest time impact factors.

• Journal of the Korean Society of Safety
• /
• v.23 no.6
• /
• pp.144-149
• /
• 2008

The purpose of this study is to present the standard risk index according to work type in the bridge construction without regard to the bridge type. The bridge construction cases were researched on the actual condition. construction accidents were investigated from 1998 to 2005. In this paper, we developed a standard risk index for efficient bridge construction safety system.

• Journal of the Korea Safety Management & Science
• /
• v.19 no.4
• /
• pp.11-24
• /
• 2017

This study attempted to establish fire risk factors and preventive measures for each of five major types of construction, focusing on construction sites. For this purpose, disaster cases were analyzed and countermeasures were prepared. In addition, fire risk factors and flammable and combustible materials by construction type according to construction process were identified and preventive measures thereof were suggested. The results of this study can be used to establish policy improvement directions that meet various educational needs and expectations by identifying the use status of flammable and combustible materials and figuring out the fire risk factors according to the process by work type in construction sites.

• Korean Journal of Construction Engineering and Management
• /
• v.21 no.1
• /
• pp.32-39
• /
• 2020

The purpose of this study is to derive the risk factors that occurred during the construction of the temporary aircraft runway and to analyse the risk costs and loss costs. For this purpose, actual construction data made during the construction of the aircraft runway were investigated. And the risk factors that occurred during the construction work were derived. So the increased construction costs and loss costs due to risk factors were analyzed. The results of this study are as follows: 1)The number of risk factors that occurred during the construction of the aircraft runway was derived from eight. 2)It was calculated that the total risk cost of 5.2million won, the risk cost of the owner's should be 243 million won and the cost of the contractor should be 277million won. 3)Owner's was up 2.36% from its planned budget and the contractor lost -277million won out of its planned profit of 443million won, resulting in a residual profit of 165million won. The results of the study are used as a reference for estimating risk factors and contingency that should be considered in aircraft runway construction.

• International conference on construction engineering and project management
• /
• 2011.02a
• /
• pp.534-541
• /
• 2011

Risk evaluation approaches for bidding on international construction projects are typically partitioned into three stages: country selection, project classification, and bid-cost evaluation. However, previous studies are frequently under attack in that they have several crucial limitations: 1) a dearth of studies about country selection risk tailored for the overseas construction market at a corporate level; 2) no consideration of uncertainties for input variable per se; 3) less probabilistic approaches in estimating a range of cost variance; and 4) less inclusion of covariance impacts. This study thus suggests a three-staged risk evaluation model to resolve these inherent problems. In the first stage, a country portfolio model that maximizes the expected construction market growth rate and profit rate while decreasing market uncertainty is formulated using multi-objective genetic analysis. Following this, probabilistic approaches for screening bad projects are suggested through applying various data mining methods such as discriminant logistic regression, neural network, C5.0, and support vector machine. For the last stage, the cost overrun prediction model is simulated for determining a reasonable bid cost, while considering non-parametric distribution, effects of systematic risks, and the firm's specific capability accrued in a given country. Through the three consecutive models, this study verifies that international construction risk can be allocated, reduced, and projected to some degree, thereby contributing to sustaining stable profits and revenues in both the short-term and the long-term perspective.