• International conference on construction engineering and project management
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• 2022.06a
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• pp.204-212
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• 2022

Recently, the Korean government has been actively promoting the smart city as their strategic agenda. However, to build smart cities that are greener, the authors believe it is essential to rapidly transit conventional energy sources such as fossil fuels to renewable energy. Although there is a big potential for Offshore wind in Korea, there has not been a full-scale commercial offshore wind farm until today. Since Korea is relatively a new market compared to the EU, it can be risky for developers. The authors will introduce risk management best practices in the offshore wind industry applicable to the Korean environment. This paper will mainly introduce an offshore wind project size of 99 MW. The project is expecting a Finance Close (FC) in Q3 2022, so the project team has prepared a risk register with over 150 risks and levers throughout the project lifecycle. Overall risks include risks with Development Expenditure (DEVEX) impact, a Capital Expenditure (CAPEX) impact, and an Operating Expenditure (OPEX) impact. Based on the identified risks, a more qualitative assessment of Cost and Schedule Impact was conducted. In conclusion, a Monte Carlo simulation was performed to propose a quantitative risk assessment to evaluate a benchmark contingency of the project cost.

• 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..

• KIEAE Journal
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• v.4 no.3
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• pp.53-63
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• 2004

According to the New Town Development Plan, Gang-buk area, a symbol of slum in Seoul will be changed new residential area. There are a lot of challenges for success this project. First of all, new ways of city plan "pre-plan and development" and "environmentally friendly development" are necessary to carry out this plan. Another important idea is how to overcome conflicts such as unbalanced development, a traffic jam and environment problem. Also, Government and a citizen agree that this project have to accept eco-protectable and sustainable development theory. For increasing green area ratio and keeping eco-diversity, planting at roofs and water circulation system in residential complex are compulsory. Green network based on environmentally friendly development provides a natural energe stream on eco-system and protects a city from air pollution, hot air island phenomenon and a flood.

• Current Photovoltaic Research
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• v.8 no.3
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• pp.79-85
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• 2020

The growing demand for new energy infrastructure has often been encountered with the difficulties of siting in power plants and electric transmission lines. Siting such large-scale and complex facilities produces so many-sided issues that it is highly necessary to develop an approach to resolving the related problems and conflicts. This paper introduces how the stakeholders have handled the issues and resolved conflicts with residents opposed the construction of 765 kV transmission line. The solar photovoltaic power generation, called "Hee-Mang Sunlight Power project", is used for persuading residents to agree with constructing high-voltage transmission line and sharing benefits. It is considered how the project performance such as generation output and resident's profits is and proposed what the project should be revised and supplement. The project is shown that the intractable spiting in energy systems can be smartly resolved with cost-effective institutional solutions instead of relatively expensive technical ones.

• Journal of Agricultural Extension & Community Development
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• v.8 no.2
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• pp.245-261
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• 2001

The consulting industry had enjoyed growth rates over the past 20 years which show no signs of slowing in their momentum. Since 1995, it began to discuss institutionalization of consulting in the agricultural sector in Korea. Rural Development Adminstration has launched farm management consulting project by means of benchmarking for farming innovation in 1988, which consists of establishing consulting team, developing standard diagnosis form of sixty crops and materials, training consultants, having various public relations, and making information systems. Until October, 2001, sixty seven thousands of farmers have benefited on this project. It is now appreciated as a alternative for new agricultural extension approach. Analyzing the changes of farm management practice level through consulting shows improvement, which data have been stored in web database. It is expected that farm management consulting project be main stream of agricultural extension in this country.

• Proceedings of the Korean Operations and Management Science Society Conference
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• 2007.11a
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• pp.408-412
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• 2007

This paper presents, with some actual cases of employing clear case, as a R&D project configuration management tool, a new methodology for the evaluation and enhancement of project performance in R&D organization. This methodology enables you to forecast future results of the project with story telling skill, to innovate R&D project execution using the concept of Technology Supply Chain with global R&D human resources, to improve the performance of each development stage based on the voices of customer, and to enhance the quality of output and to minimize risk of project with timely positioning of R&D human resources.

• Proceedings of the Korea Water Resources Association Conference
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• 2008.05a
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• pp.823-828
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• 2008

In accordance with the Cambodian government's poverty reduction policy, the Krang Ponley Water Resources Development Project was selected and has been carried out as a priority to develop the northwest areas of Phnom Penh since early 2003. Rehabilitation and new construction of water supply system such as embankments, canals and hydraulic structures are urgently needed for stable water supply, hydropower generation and flood damage reduction within the project area. The completion of the project is expected to be extremely helpful in the economic development of Cambodia as well as to improving the economic conditions of the residents in the project area.

• The Journal of Korean Institute for Practical Engineering Education
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• v.3 no.1
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• pp.110-118
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• 2011

This paper suggests a realistic, business engineers' model based on Coop projects run by regional universities or colleges, in which students must meet the guidelines for engineering design that ABEEK requires. Many of current activities such as Coop programs and Internships aimed for engineering majored-undergraduates have notled them either to a satisfactory level of business skill at entrepreneur side, or to their higher chance of employment opportunities. Under the circumstances like this, we need a revised version of Coop activities: for example, launching a project that will be fully supported intrust by both sides, and thus improving students' business skill while they are working on that project. We demonstrate in this study how students have greatly improved their business skill through a model project that was planned by a working group, was successfully carried out on real job positions, and many of the students in the working group were job-offered finally as this new model suggested.

• Korean System Dynamics Review
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• v.12 no.1
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• pp.59-74
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• 2011

This article deals with an economic evalutation of the 'Pasture Project of Kum River', which is the farming plan of mitten crabs in a stream of it. An augmented model of social capital is based on the past ecological-economic system dynamics model and elaborated further with suggestions of social capital literature. During the modeling process a chain diagram of causal relations and its relevant mathematical equations are presented for simulating the project performance, and the simulation results are provided to contrast the dynamic behaviors of the former ecological-economic model with ones of the new model incorporating social capital. The results indicate that an increase in the economic benefit of the project could happen in case of considering the process of social capital accumulation around the case area, which can be regarded as a remarkable trial to approve the common confidence in the role of social capital to enhance an economic achievement.

• Journal of The Korean Digital Architecture Interior Association
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• v.12 no.3
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• pp.15-25
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• 2012

The purpose of this research is to explore the necessity of utilizing IPD methods along BIM based project operation in domestic construction market. IPD is relatively new project delivery methods focused on the collaboration of stockholders based on BIM technology. IPD is focused on the multiparty contract process rather than multiple bilateral contracts under Traditional Project Delivery Methods. The research method is to investigate the IPD standard contract documents, successful IPD project cases in the U.S. The research results are as follows. The model for an IPD standard contract needs to be developed for the application to a real construction projects. Various types of IPD model contract need to be developed to accommodate the requirements of industry and stockholders in Korea.