• 국제학술발표논문집
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• The 3th International Conference on Construction Engineering and Project Management
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• pp.642-648
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• 2009

Determining the total duration for a construction project is an integral part of project management in the construction industry. This is to ensure the project and all its associated activities can be carried out and completed within the time frame stipulated. There are several commonly used scheduling methods and techniques in project management, some of which involves manual calculation while others involve computer software. This paper looks into the various time determination methods, extracting out their differences and similarities. It also seeks to draw out the problems when determining time for projects, especially those encountered of case studies. Based on the results from the case studies, there were delays on certain projects even though time determination had been carried out rigorously prior to the commencement of the projects. This paper seeks to develop a time determination model, which incorporates risk management techniques into the calculations in order to improve the method for time estimation to minimize the chances of project delay.

• 국제학술발표논문집
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• The 4th International Conference on Construction Engineering and Project Management Organized by the University of New South Wales
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• pp.162-167
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• 2011

Construction projects are full of risks. This is particularly the case in civil construction projects that are often featured with large scale, complexity and involving a large number of participating parties. The eventuation of risks typically results in extended project durations leading to an increase in the total project budget. The consequence can be amplified considering the significant impacts of civil construction projects on the society, from economical, environmental and social perspectives. This research investigates the significance of risks within civil construction projects and approaches to deal with risks. Semi-structured interviews were undertaken with local industry practitioners in South Australia on this matter. It is found that the industry is fairly aware of risks associated with civil construction projects and subsequently has procedures in place to attempt to minimize the impacts of these risks on the project outcomes. The interview results also indicate that there is limited utilization of software for the risk management purpose from the cost estimation perspective.

• 한국건설관리학회:학술대회논문집
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• 한국건설관리학회 2008년도 정기학술발표대회 논문집
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• pp.497-500
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• 2008

최근 국내외에서 도시재생사업이 활발히 진행되고 있다. 이러한 도시재생사업은 사업주체 및 이해관계자가 다양하고, 복잡하며, 대규모의 긴 생애주기를 가지고 있다. 또한 대부분 입체 복합공간 개발 형태의 메가프로젝트라는 특징을 나타내고 있다. 이러한 대규모의 도시재생사업은 사업수행과정에서 많은 위험요인들이 존재하며, 그와 더불어 효율적이고 지속적인 성과관리가 필요하다. 그러나 국내의 성과관리는 건설업의 특성을 반영하지 못하고 있으며, 위험과 연계된 연구는 미비하다. 그래서 본 연구는 효율적인 성과관리를 위한 위험과 연계된 성과측정지표를 도출하기 위한 기초연구로 맵핑(mapping)을 통해 성과측정을 위한 성과지표와 위험요인을 연계하는 방법을 제시하고자 한다.

• 국제학술발표논문집
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• The 2th International Conference on Construction Engineering and Project Management
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• pp.106-118
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• 2007

Little attention has been focussed on a precise definition and evaluation mechanism for project management risk specifically related to contractors. When bidding, contractors traditionally price risks using unsystematic approaches. The high business failure rate our industry records may indicate that the current unsystematic mechanisms contractors use for building up contingencies may be inadequate. The reluctance of some contractors to include a price for risk in their tenders when bidding for work competitively may also not be a useful approach. Here, instead, we first define the meaning of contractor contingency, and then we develop a facile quantitative technique that contractors can use to estimate a price for project risk. This model will help contractors analyse their exposure to project risks; and also help them express the risk in monetary terms for management action. When bidding for work, they can decide how to allocate contingencies strategically in a way that balances risk and reward.

• 한국건설관리학회논문집
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• 제7권4호
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• pp.177-183
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• 2006

Risk-based estimation has been successfully introduced into the construction industry. By incorporating historical data associated with probability analysis, risk-based estimate is an effective decision support aid in considering whether to launch a particular project. The industry challenges, however, especially related with management issues, such as labor shortage, wage growth, and supply chain complexity, have often resulted in poor cost performance. The insufficient assessing the project characteristics (i.e., resource availability, project complexity, and project delivery method) can be the main reasons in the poor cost performance. Because the accuracy level of cost performance prediction can be enhanced by extensive evaluation of the subject project characteristics, a new approach for predicting cost performance in an earlier stage of a project can improve the Industry substantiality, in other words, value maximization. The purpose of this paper is to develop a new methodology in developing a risk-based estimate tool by incorporating extensive project characteristics. To do this, an extensive industry survey was conducted from both private and public sectors in building industry in Korea. In addition, significant project characteristics were identified in terms of cost performance indicator. Although the data collection is limited to Korean industry the suggested approach provides the industry with a straightforward methodology in risk management. As many researchers maintained that front-end planning efforts are crucial in achieving the successful outcome in building projects, the new method for risk-based estimation can Improve the cost performance as well as enhance the fulfillment in terms of business sustainability.

• 국제학술발표논문집
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• The 6th International Conference on Construction Engineering and Project Management
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• pp.4-5
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• 2015

Owning to rapid infrastructure development, Asia is experiencing dramatic economic growth. There are not a few cases in which, however, economic growth is achieved by increasing the external diseconomy. Pursuit of sustainable development is one of the most important issues for mankind. Under the post-industrial capitalism society, however, there seems a big risk of increase in the external diseconomy worldwide. The objectives of this manuscript are to discuss importance of risk management of construction practice in present and future. Regarding the latter, a particular attempt is made to discuss how project risk communication should be done to reduce the external diseconomy. Presently, one of the important issues in implementation of infrastructure projects is practice of risk management to properly manage time, cost, quality, and safety: mainly maximization of internal economy. Multi-party risk and uncertainty management process (MRUMP) is one of tolls to assist it. The idea on MRUMP can be used to reduce the external diseconomy through identifying, sharing, and tuning people's rhythms.

• 국제학술발표논문집
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• The 1th International Conference on Construction Engineering and Project Management
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• pp.1231-1236
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• 2005

Global construction projects manifest more risks than do other industries. Often, firms doing business in construction markets find these risks intimidating. To secure corresponding profits, many global contractors attempt to forecast the effects of risks and establish risk management strategies. However, one key problem with present-day risk management methods is that they are basically analytical or mathematical-oriented approaches which are not easy to adopt in real business. Based on preliminary investigations and evaluations of current tools, this research elicits more practical algorithms for risk checklist by constructing risk scenarios over the whole period of project execution. For the application of the algorithms, a "SE/RF" (Source-Event/Regular-Floating) checklist is suggested, which sorts out risk sources and their subsequent events, as well as dividing various risk factors into either regular or floating categories. In addition, the "PIS" (Probability-Impact-Significance) method is introduced, in place of traditional "PI" (Probability-Impact) methods, by adding the additional criterion of "risk significance" to determine the degree of risk exposure in a more realistic way. As a result, we draw the significant finding that the "PIS" method presents a closer evaluation regarding degree of risk exposure as compared to the level of expert judgments than those from traditional methods. Finally, we provide an integrated procedure for international project risk management with all of the research achievements being incorporated.

• 국제학술발표논문집
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• The 8th International Conference on Construction Engineering and Project Management
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• pp.323-330
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• 2020

Project delays, cost overruns, and disputes are becoming a norm for the construction industry in Hong Kong. Researchers argue that the inability of traditional contracts to manage risk and associated changes are perhaps the main points of contention. The Institution of Civil Engineers published a new engineering contract (NEC), NEC4 Suite of Contracts in this to facilitate better risk management through collaborative culture in construction projects. NEC aims to increase the chances of project success thought its flexible nature of contracts, 'simple' and 'clearly written' documents and provision for the incentive by adopting a better management approach. This paper focuses on traditional and NEC contracts to compare risk management and change management aspects. Through literature review and preliminary interviews with three industry professionals, the paper is exploring how a change in traditional contracts can recuperate from disaster. Our interviewees in this work have extensive experience in traditional as well as in NEC contracts. The results suggest a proactive risk management provisions in NEC contracts does make a difference to avoid later escalation of issues. Whereas, management of change helps streamline all identified issues through a structured process without going in mediation or litigation. NEC, with its new approach to collaborative working, allows partners to be vigilant, yet gratifying in the project process.

• 국제학술발표논문집
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• The 1th International Conference on Construction Engineering and Project Management
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• pp.1237-1243
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• 2005

International construction projects are exposed to various and complicated risk factors stemming from different political, economical, social, and cultural backgrounds, which make contractors entering into international construction to experience severe losses. It implies that overseas markets do not necessarily secure the high return, which is typically expected to in the high risky attempts. Accordingly, contractors need to evaluate various risk factors faced with overseas construction projects that can possibly aggravate the profitability. This paper aims at establishing a valid groundwork for further research on developing the integrated risk management model. For this end, it analyzes the long-term trend of profitability on total of 3,487 projects performed by Korean global contractors in world-wide construction markets during the last four decades. Then, it investigates the possible factors/causes of bad profit that have affected the profitability significantly through the structured surveys of 90 real overseas projects based on the project-specific information and experiences of Korean contractors in overseas markets. Furthermore, it analyzes relative importance of these factors/causes and identifies the important features expected for the risk management of international construction projects. Finally, vital distinctions between success and failure projects and lessons learned to improve profitability are then distilled.

• 한국건설관리학회논문집
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• 제3권4호
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• pp.84-92
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• 2002

재건축과 관련한 각종 규제들이 강화됨에 따라 향후 공동주택 리모델링사업이 활발하게 이루어 질 것으로 예상된다. 그러나 공동주택 리모델링사업을 수행할 수 있는 관리시스템의 부재로 사업의 어려움을 가지고 있다. 이에 본 논문에서는 리스크관리에 필요한 리스크 인자를 식별하고 분석하여 AHP에 의한 쌍별비교와 리스크 레벨분석을 위한 확률평가를 시행하여 리스크 수준을 제시하였다. 본 연구가 공동주택 리모델링사업의 리스크를 최소화하고 사업을 원활히 수행할 수 있는 기초자료로 활용되어 건축산업의 기조가 신축위주에서 지속 가능한 산업으로 발전하는데 도움이 되지를 기대한다. 향후 연구과제로 본 연구의 리스크 인자분석의 자료를 활용하여 리스크 관리 모델구축이 있어야 할 것으로 사료된다.