• Plant Journal
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• v.6 no.1
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• pp.56-63
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• 2010

While the local plant market is reducing its volume, the plant market over the world since 2000s is rapidly expanding. The nation's construction companies, aggressively dedicated in launching out overseas plant market, increase the volume of orders in that sector, but there also are much difficulty in the project management as those projects ordered are gradually large scaled with more cutting-edge high-tech requirements along with comparatively higher risk. Though the local construction companies have developed their own types of measures to analyze the risk evaluation putting into practice, the specialized decision-making model for the overseas plant market or the risk measure understandable easily and applicable practically is not yet shown. This paper aims at providing the methodology to evaluate the risk by way of constructing the risk evaluation process in order to induce risk measuring elements through appropriate indexing system. Furthermore, through studying the risk management system, it aims to seek for a thorough risk management method from beginning of the project to the end.

• International conference on construction engineering and project management
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• 2022.06a
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• pp.1254-1254
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• 2022

The Multi-family Residential is one of the most famous building types for a rental property in the US. Often times it includes multiple residential buildings and some amenity facilities, including a clubhouse or leasing office, swimming pool, dog park, and garages. Since the building type is built for rental purposes, the construction planning is phased and it makes the project complicated. Detailed planning and execution are important for successful construction management. This paper provides some management practices that are applied to one of the multi-family residential construction projects in Phoenix, AZ. The Front End Planning (FEP) process performed by both owner and contractor is the first key to a successful construction project. Specifically, the early review of phased turnover strategy, grading, fire/Americans with Disabilities Act (ADA) compliance, and Mechanical/ Electricity/Plumbing/Technology (MEPT) will provide absolute benefit to the project. Second, using a scheduling method to control short-term schedules and long-term can provide the ability to manage the issues with agility. Third, material delivery and procurement dominate the both project schedule and cost. With this COVID-19 circumstance, it is hard to expect the material, equipment, and labor forces to be delivered on time with the contracted price. Managing floats are more than important to managing construction productivity. Risk management should work to share the risks fairly. Lastly, turnover is directly linked with the profit of the project for both owner and contractor. The communication between the owner and contractor to re-schedule the proper turnover schedule is important for the phased construction project.

• Journal of the Korea Safety Management & Science
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• v.11 no.2
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• pp.111-115
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• 2009

As shown in the accident analysis from 2007, it has been found that causes of accidents on large-scale projects are different from those found in general construction projects. A 300-question survey regarding systematic and practical aspects of safety problems at construction sites was distributed to ten (10) different companies. Participants were to respond subjectively, so that the results could be used to assemble the first formal questionnaire survey. They were collected and compiled by an advisory committee for this study. The resulting surveys were then sent to the division chiefs of the top 100 construction companies in Korea, in order to improve the response rate. The Department of Safety & Health Direction, and the :Ministry of Labor, ROK sent the same sheets to medium and small construction companies that placed within 101-200th of all Korea construction companies. The above safety engineers were classified into four (4) levels, from 1st to 4th, followed by the project dollar amount and risk level. Formulae were developed to assign safety engineers to construction sites by engineer level, the project dollar amount, and the project risk level. Conclusions are summarized as follows: 1) Reviewing the assignment system of experienced safety engineers to large scaled projects - The more experienced the engineers assigned to a project, the higher the level of accident prevention. 2) Enforcing the assignment of advanced level safety engineers to large-scaled sites - At least one advanced-level safety engineer should be assigned to construction sites with projects valued at $15million USD (15,000,000,000). 3) For assigning safety engineers by risk level - Twenty models have been developed to calculate the number of safety engineers to be assigned by risk level. In the future, risk level for each job should be established by the government (as is now the practice in Germany).

• International conference on construction engineering and project management
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• 2020.12a
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• pp.103-113
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• 2020

The construction industry is undergoing a digital transformation in which Building Information Modelling (BIM) is a key technology. The potential of BIM in several areas such as design optimization, time management, cost management, and asset management/facility management (AM/FM) is widely acknowledged by the AECO (Architecture, Engineering, Construction, and Operation) industry around the world. However, BIM implementation in construction projects is faced with problems such as project delay and cost overruns. The lack of identification of risks in BIM projects and standard guidelines on mitigation techniques furthers poor performance, dissatisfaction, and disputes between employers and project participants, which results in low BIM adoption rates. Therefore, the objective of this paper is to identify the potential risks in BIM implementation under the primary categories - (1) technical, (2) contractual, (3) management-related, and (4) personnel-related risks in BIM projects and present solutions to reduce, manage, and mitigate risks. To meet the objective of this paper, a survey was designed and conducted in the Hong Kong construction industry in which over 140 respondents from different disciplines, with experience in BIM projects, have participated. Based on the analysis of the survey data, the most severe and frequently occurring BIM risks and their potential mitigation strategies were identified and discussed in this paper.

• International conference on construction engineering and project management
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• 2015.10a
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• pp.174-178
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• 2015

This paper presents a new method for forecasting construction project cost and time at completion or at any intermediate time horizon of the project duration. The method is designed to overcome identified limitations of current applications of earned value method in forecasting project cost and time. The proposed method usesfuzzy set theory to model uncertainties associated with project performance and it integrates the earned value technique and the contractors' judgement. The fuzzy set theory is applied as an alternative approach to deterministic and probabilistic methods. Using fuzzy set theory allows contractors to: (1) perform risk analysis for different scenarios of project performance indices, and (2) perform different scenarios expressing vagueness and imprecision of forecasted project cost and time using a set of measures and indices. Unlike the current applications of Earned Value Method(EVM), The proposed method has a numberof interesting features: (1) integrating contractors' judgement in forecasting project performance; (2) enabling contractors to evaluate the risk associated with cost overrun in much simpler method comparing with that of simulation, and (3) accounting for uncertainties involved in the forecasting project cost.

• International conference on construction engineering and project management
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• 2015.10a
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• pp.463-467
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• 2015

Mega-shock means a sporadic event such as the earning shock, which occurred by sudden market changes, and it can cause serious problems of profit loss of international construction projects. Therefore, the early response and prevention by analyzing and predicting the Mega-shock is critical for successful project delivery. This research is preliminary study to develop a prediction model that supports market condition analysis and Mega-shock forecasting. To avoid disadvantages of classic statistical approaches that assume the market factors are linear and independent and thus have limitations to explain complex interrelationship among a range of international market factors, the research team explored the Fractal Theory that can explain self-similarity and recursiveness of construction market changes. The research first found out correlation of the major market factors by statistically analyzing time-series data. The research then conducted a base of the Fractal analysis to distinguish features of fractal from data. The outcome will have potential to contribute to building up a foundation of the early shock warning system for the strategic international project management.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.42 no.2
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• pp.239-248
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• 2022

Risks in construction projects are increasing remarkably due to recent changes in the construction environment. Active risk management is required to recognize risks as opportunities. The purpose of this study is to propose a risk management model of the importance determination method through comparative analysis using Kano model, Timko CSC (Customer Satisfaction Coefficient), and ASC (Average Satisfaction Coefficient). Based on previous studies, the validity of risk management factor determination is reviewed through a questionnaire modified Kano model through interviews with working-level workers using the Delphi technique. Through this, a suitable risk management model is presented by selecting key risk management factors recognized by domestic construction project practitioners. As a result of the study, the Kano model developed to verify risk management of construction projects was evaluated to be effective in verifying the risk management of practitioners. It is expected that the Kano model presented in this study will be actively used to verify the importance of risk management for construction projects.

• Journal of Construction Engineering and Project Management
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• v.5 no.1
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• pp.1-10
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• 2015

In construction, stakeholders of extended project team play a key role in the overall project performance. Successful integration of stakeholders demands for good management practices at strategic, operational and project levels. Targets and measures to improve the stakeholder performance encourage the creativity and willingness of stakeholders of extended project team to develop the better ways to achieve the project objectives. This paper presents a generic descriptive method, showing how stakeholder's ability and influence impacts on project performance in the construction sector. The findings of a series of interviews with key informants are presented and the following main conclusion is drawn: improving project performance through stakeholder's contribution and measuring their performance can strengthen the project performance. This innovative approach which redefines the process of improving the project performance in construction projects will be of interest to those who intend to manage the projects in practice as well as to those who interested in advancing theory.

• Korean Journal of Construction Engineering and Management
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• v.17 no.1
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• pp.48-55
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• 2016

Risk management is an important element for successful management of overseas construction projects. This study reports a case study in which we proposed a risk management planning and procedure for plant construction which can be applied throughout the project life cycle. We analyzed the risk management practices of Korean construction companies by applying the concept of the PRINCE2 method developed in the UK, and proposed a risk management planning and procedure with organizational structure and working process. The suggested risk management planning and procedure was applied to an overseas plant construction project, and produced good results. It is believed that the procedure suggested here can also be aplied to other companies to enhance the competency in the global construction market.

• International conference on construction engineering and project management
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• 2005.10a
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• pp.980-985
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• 2005

Since the 1980s, Build-Operate-Transfer and its variations have become a common approach to develop large-scale infrastructure projects. Despite the slight variations in contractual settings, the key issue for all parties concerned is to assess the risks and uncertainties inherent in a project. The risk factors studied and highlighted by past researchers are very diverse. This paper starts with an objective to compare the risk factors in different sectors of infrastructure, and then categorize them into two kinds: general and specific. Following this classification, risk mitigation strategies should be adopted differently at the corporate and project levels. A few short cases have also been used to illustrate the flexible measures or "options" that some project participants have designed to address risks and uncertainties at the two levels.