• Journal of Korean Society of Industrial and Systems Engineering
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• v.47 no.2
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• pp.93-106
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• 2024

As the complexity and uncertainty of international construction projects increase, the importance of risk management capabilities in the construction industry has become more pronounced. Accordingly, Enterprise Risk Management (ERM) has become a widely adopted approach among organizations as a new way for more effective risk management. Despite its growing application, research related to ERM is still in its infancy, and most of the existing studies have been limited to financial industries. Therefore, this study aims to empirically examine the influence of ERM's core elements on project risk management (PRM) and project performance within construction firms. Our findings indicate that the key ERM components-organization, policy, and culture-significantly enhance PRM processes, underscoring their critical role and importance. Additionally, effective PRM positively affects project outcomes, highlighting its significance for construction companies engaged in international projects. While ERM does not directly impact project performance, it indirectly improves outcomes through enhanced PRM capabilities. It suggests that ERM will contribute to the firm's performance by improving the firm's PRM capability through policies and a risk-focused culture corresponding to the adopted ERM organization and system..

• International conference on construction engineering and project management
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• 2015.10a
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• pp.614-615
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• 2015

In these days, global construction market is speedily increasing and domestic construction companies have a chance of new contracts. In the meantime, international projects have been increasingly forced to cope with potential risks, which seriously impacted achieving the targeted time and cost. In this study, we introduce a computerized risk management system for international EPCS projects, which is constructed on the needs of practitioners and decision makers as an aid to proactively control the potential risks and to monitor continuously their status and variation. The system is called the Project Risk Management System (PRiMS) is useful for furnishing project managers with warning signals as a project is progressing and helpful for producing the total risk score and tracking risk variation.

• Proceedings of the Korean Institute of Building Construction Conference
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• 2023.11a
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• pp.95-96
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• 2023

The purpose of this study is to derive the limitations of the existing management system by analyzing the characteristics of the PC process to improve the PC construction project management system process. To overcome the limitations derived, we present a process of managing integrated information from the design-production-construction stage using QR codes and clouds. This is expected to help develop a PC construction project management system.

• International conference on construction engineering and project management
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• 2009.05a
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• pp.345-353
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• 2009

The success and failure of any project depends upon many factors, the Project Manager is considered to be the key contributor to the success of any project, as well as a guide to the team members to achieve the client satisfaction (Cost, Time and Quality). Therefore the main aim of this paper is to provide a practical approach for understanding the importance of the Project Manager and his effectiveness to the success of the construction projects. In addition, the Project Manager's roles, responsibilities and duties have direct impact to the success of the construction projects. In order to identify the thoughts and opinion of the construction industry on this particular assertion, a quantitative study was carried out within the UK construction industry. The result of the study shows that there is an extremely strong correlation between the Project Manager and the success of the construction projects. In construction projects the Project Manager is considered to be one of the most important people who can lead and drive the projects in the right direction and conclude construction projects successfully. Moreover, these can play the most important role regarding the improvement of the organization's performance, the organization's profitability and the client's satisfaction. The research confirmed that the Project Manager is a very essential element to the success of the construction project and have an impact at every stage of the construction project. So it concluded that selection of a Project Manager should be carefully done with regard to experience, knowledge, power/authority and good understanding to the kind of the project.

• International conference on construction engineering and project management
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• 2007.03a
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• pp.611-624
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• 2007

Every construction project expects a success. In order to attain success for every project involved, issues that are related to the success of a construction project must be identified. This paper identifies those key factors, which contribute to the success of construction projects. The main factors crucial to project success were identified from a literature review and through a questionnaire survey administered to local contractors. A follow-up interview was conducted to validate the first survey and to evaluate the perception of the local contractors. An Analytical Hierarchy Model was used to obtain the final Critical Success Factors. The identification of the critical factors related to the success of construction projects will contribute to the achievement of a particular objective which will accomplish the success of the project. Aspects that affect the success of the project are the project characteristic, contractual arrangement, parties involved in a construction project and finally, and the aspect of the project interactive processes.

• Journal of the Korea Institute of Building Construction
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• v.6 no.4 s.22
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• pp.53-60
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• 2006

Quality control and safety represent increasingly important concerns for project managers. In the worst case, failures may cause personal injuries or fatalities. Accidents during the construction process can similarly result in personal injuries and large costs. 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.

• International conference on construction engineering and project management
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• 2005.10a
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• pp.377-382
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• 2005

The tools, methods and measures used for project control reflect underlying theories of management. Management theory has been neglected in the construction industry, which has rather focused on tools and neglected theory. This paper contributes to the theory of project management by introducing and developing two fundamental and competing conceptualizations of management: MBM (Managing-by-Means) and MBR (Managing-by-results). Current project control and performance measurement practice is based on MBR. However, project control based on MBR may not be appropriate for managing dynamic projects. The paper present the Last Planner^TM System (LPS) and Process Variance Control (PVC) as examples of methods reflecting the MBM view. It is argued first that the MBM view is appropriate for managing uncertain, complex and quick projects. The paper also explores how MBR tools and techniques may be appropriately used within an MBM framework.

• Journal of Construction Engineering and Project Management
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• v.7 no.3
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• pp.15-25
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• 2017

The existence of material price volatility in construction projects puts forward substantial risks for all parties involved. Depending on the parties involved in the project, type of contracts, and state of the market various risk management strategies are practiced by contracting parties to manage project risks related to price volatility. Unfortunately, in many cases companies fail to select an adequate approach to better manage volatilities of material prices due to the lack of a decision support system to aid in the selection of an appropriate strategy based on the project characteristics. The aim of this study is to identify critical project factors and align them to documented strategies to manage price volatility based on an extensive literature review and industry interviews. This study found Integrated Project Delivery (IPD) as the ideal strategy with respect to project duration; quantitative risk management methods with respect to the cost; and Price Adjustment Clauses (PAC) with respect to the risk allocation, as the top price volatility management strategies.

• Korean Journal of Construction Engineering and Management
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• v.22 no.3
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• pp.3-11
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• 2021

The construction project manager must clearly carry out the activities of each construction stage specified in the 'Task Description'. In this study, 'design change' and 'completion process' were classified as core tasks in consideration of the frequency and importance of tasks. And, by analyzing the actual construction project, the task contents for the core work were standardized. This laid the foundation for the ordering office, construction project management technicians, and builders to clearly understand the business areas of construction project management and fulfill their responsibilities for their respective tasks.

• Architectural research
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• v.8 no.1
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• pp.57-68
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• 2006

Global competition and reduced project life cycle ultimately puts greater performance requirements on the capital project delivery systems used to maintain competitiveness. Despite continuing improvements in delivery cycle time, business owners of facilities continue to demand greater improvements in project delivery cycle time. Therefore, it is very important to investigate the various techniques and methods leading to reduction in project cycle time and also identify the applicability of identified techniques and methods. This paper introduces reduction techniques identified through literature review (i.e, Schedule Reduction Techniques (SRTs), Management Techniques (MTs), and Construction Institute Industry (CII) Best Practices (BPs). In order to collect applicability of these techniques under different project phases (Pre-project planning (PPP), Design (D), Material Management (MM), Construction (C), and Start-up (SU)), the Essence Applicability Matrices (EAM) is used.