• Journal of the Korea Safety Management & Science
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• v.4 no.4
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• pp.15-26
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• 2002

The quantitative evaluation method of the safety management cost was suggested to prevent a gas accident as a major industrial accident. In a gas governor station, process risk assessments such as the fault tree analysis(FTA) and the consequence analysis were performed. Based on process risk assessments, potential accident costs were estimated and the cost-benefit analysis(CBA) was performed. From the cost-benefit analysis for five classification items of safety management cost, the order of the cost/benefit ratio was estimated.

• Journal of the Korea Institute of Military Science and Technology
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• v.14 no.5
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• pp.850-858
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• 2011

The risk analysis plays an important role in weapon system acquisition project due to uncertainties in the acquisition process. But in domestic, studies on risk analysis are insufficient and risk cost is not included in acquisition budget in policy. Therefore, in this study, we suggest a method that measures risk or success probability of project using the stochastic model. In particular, in order to calculate the success probability, we apply the joint probability distribution model of cost and schedule that are critical factors influencing the project risk. And also we verify the applicability of this model in Korean defence industry environment through case studies.

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

• Proceedings of the Korean Institute of Building Construction Conference
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• 2019.05a
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• pp.246-247
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• 2019

This study was conducted to provide useful information to enable planned repair and cost planning during the operation and maintenance phase of aged multi-family housing. For this purpose, The concept of probabilistic maintenance cost analysis considering the risk factors of the aged multi-family housing is presented in the following six steps. 1. Risk factor investigation and analysis 2. Classification and deriving of maintenance cost 3. Investigation and deriving cost maintenance cost of old apartment house 4. Analysis of expert questionnaire 5. Analysis of Monte -Carlo simulation 6. Probabilistic maintenance cost Deriving the result. This study has limitations that need to be verified by applying actual data.

• Journal of Information Technology Services
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• v.14 no.3
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• pp.67-84
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• 2015

Software is more diverse and complex and the level of importance for the maintenance of application software to securely operate software is also gradually increasing in proportion. The calculation method for maintenance cost of application software applied in Korea public enterprises is involved in the range of 10 to 15% of development cost, depending on the Software Project Cost Estimation Guide. Moreover, as most software maintenance cost estimation procedures do not take into consideration of the risk factors related of maintenance, it can be seen as a main cause for the occurrence of maintenance related accidents. This study proposes a maintenance cost estimate model that takes into consideration of the risks related to the software maintenance activities to improve and resolve issues arising from the estimation of maintenance cost. In doing so, maintenance risk factors are analyzed and a risk index is derived through the analysis of risk levels based on the risk factors. Based on such analysis, a maintenance cost estimate method which reflects the maintenance risk index was established.

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

• 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

• Proceedings of the KSR Conference
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• 2001.05a
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• pp.44-51
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• 2001

To account for uncertainties involved in an economic analysis of project, sensitivity analysis are usually being done in Korea. Though useful for policy analysis, but it larks explicit consideration of probability of occurring certain events considered in the sensitivity analysis. Risk analysis otherwise can explicitly account for the probability of certain event which has dire impact on project viability, such as cost, discount rate, and size of benefit. This paper reports experience of applying risk analysis method for economic evaluation of railroad investment. Probability distribution of event has paramount impact on the risk analysis results, while not many prior researches dealt with these issues. Probability distribution of rolling stock cost and operating cost, in addition to those cost variables, are developed considering railway demand in this study. Case study results are reported. Issues in applying risk analysis are reported in addition to further research direction.

• Journal of the Korea Safety Management & Science
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• v.14 no.3
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• pp.119-126
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• 2012

Recently, the breakdown of online banking servers and the leakage of customer information give rise to much concern about the security of information systems in financial and banking companies in Korea. The enforcement of security for information system becomes much more important issue than earlier. However, the security reinforcement of information system is restricted by a budget. In addition, the activities' cost to secure information system from threatening are under uncertain circumstances and should be established by a human decision maker who is basically uncertain and vague. Thus, making the budget for information system is exposed to any extent of the risk for these reasons. First, we introduce brief fuzzy set theory and fuzzy AHP (Analytic Hierarchy Process) methodology. Then, the cost elements that comprise yearly budget are presented and the priorities among the cost elements are calculated by fuzzy AHP. The cost elements that are exposed to risk are evaluated from the both perspectives of the risk impact and risk occurrence possibility which are expressed as linguistic terms. To get information on the risk profiles-pessimistic, most likely, and optimistic-for each cost element, the evaluation is accomplished and the result is presented. At last, the budget ranges-minimum, mode, maximum-for each cost element are estimated with the consideration of the risk profiles.

• Journal of the Korean Operations Research and Management Science Society
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• v.20 no.1
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• pp.85-99
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• 1995

Increasingly, risk analysis is becoming important ingredients in achieving the successful implementation and application in the area of the project management. The project management system is designed to manage or control the project resources on a given activity within time, cost and performance so called TPPM (Total Productive Project Management). In this research, a risk analysis model misproposed to identify potential problem areas, quantify the risks, and generated the chice of the action that can be taken to reduce the risk. In addition two analysis models are proposed : 1) risk factor model and 2) network simulation model using VERT (Venture Evaluation and Review Technique ). The objective of the remodels is to estimate the schedule, cost performance risks. These proposed quantitative models for project risk analysis are proving its value for the project managers who need to assess the risk of changes in cost, schedule, or performance. The proposed models will be used in the area of project selection, evaluation and the allocation of project resources.