• Journal of Construction Engineering and Project Management
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• v.1 no.2
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• pp.28-36
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• 2011

Risk management is popularly and widely used in various industries to handle uncertainty that can negatively affect their businesses. While in the current Information-Technology oriented age, software packages are designed to assist in carrying out risk management processes, the construction industry does not seem to have software that is tuned to its specific characteristics and processes. Therefore, this study first explores the types of software that are commonly used for risk management in the Singapore construction industry. Also, using one-sample t-test, it is tested if the software programs used in the construction industry have effectively catered the needs of the users. For the analysis, a survey questionnaire was developed and the representatives from 34 companies participated in the survey. Furthermore, this study also makes use of the current risk management framework defined in ISO31000 to design a risk management software algorithm that can suit the needs for the Singapore construction industry. The results from this study will contribute to identifying strategic areas, in terms of use of risk management software, on which the industry needs to focus, ultimately enhancing their performance of risk management.

• International Commerce and Information Review
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• v.9 no.2
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• pp.65-86
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• 2007

This paper reviews the properties and application methods of widely used types of risk measures, identifies the rationale and business-side effects of hedging, derives the theoretical formula of optimal hedging ratio, and analyzes the various functional aspects of VaR(Value-at-risk) as a risk measure and a hedging tool. Especially this paper focuses on the characteristics of VaR compared with other risk measures in terms of their own principal determinants and identifies its stronger aspects in the dimension of hedging strategy tools. As well, this paper provides the detailed processes deriving the optimal hedge ratios based on the distributional parameters and risk factors. In addition, this paper presents the detailed and substantial processes of estimating the minimum variance hedge ratio and minimum-VaR hedge ratio using the actual data and shows that the minimum variance hedge ratio proves helpful for many cases although it is not appropriate for the non-linear portfolio including the option contracts. We demonstrate the trade-off relationship between the minimum variance hedge strategy and the minimum-VaR hedge strategy in their hedging costs and performances through calculation of the respective VaRs and variances of unhedged and hedged portfolios and the optimal hedge ratio and hedging effectiveness values for the given long position in US Dollar with the short position in Euro.

• Journal of the Korean Society of Fisheries and Ocean Technology
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• v.60 no.2
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• pp.170-178
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• 2024

This study aimed to quantitatively analyze the risk using data from 329 safety accidents that occurred in aquaculture fisheries management vessels over the recent five years (2018-2022). For quantitative risk analysis, the Bayesian network proposed by the International Maritime Organization (IMO) was used to analyze the risk level according to the fishing process and cause of safety accidents. Among the work processes, the fishing process was analyzed to have the highest risk, being 12.5 times that of the navigation, 2.7 times that of the maintenance, and 8.8 times that of the loading and unloading. Among the causes of accidents, the hull and working environment showed the highest risk, being 1.7 times that of fishing gear and equipment, 4.7 times that of machinery and equipment, and 9.4 times that of external environment. By quantitatively analyzing the safety accident risks for 64 combinations of these four work processes and four accident causes, this study provided fundamental data to reduce safety accidents occurring in aquaculture fisheries management vessels.

• The Journal of Pediatrics of Korean Medicine
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• v.28 no.4
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• pp.138-146
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• 2014

Objectives The purpose of this study is to investigate correlation between body mass index (BMI) and the Sensitiv $Imago^{TM}$ in pediatric patient. Methods The study was conducted with 79 children, who were 5 to 18 years old. They were tested using Sensitiv $Imago^{TM}$. Their height, weight were measured for body mass index to find out the relationship between Body Mass Index (BMI) and the result of Sensitiv $Imago^{TM}$ (SI). Results 1. The percentages of the normal weight group (74.68%), overweight group (6.33%), and underweight group (18.99%) were shown respectively. 2. No one was belong to Acute Processes in either groups. 3. In normal weight group, there were Active Processes (16.9%), Unstable Remission (69.5%), Inactive Processes (13.6%), Inactive Process or Development Risk (0.0%). In overweight group, there were Active Processes (20.0%), Unstable Remission (40.0%), Inactive Processes (40.0%), Inactive Process or Development Risk (0.0%). In underweight group, there were Active Processes (6.7%), Unstable Remission (66.7%), Inactive Processes (20.0%), Inactive Process or Development Risk (6.7%). Conclusions There were no significant relationship between Body Mass Index (BMI) and Sensitiv $Imago^{TM}$ in pediatric patient. Considering that the number of subjects involved in this study was not enough to confirm any results, further studies are necessary to confirm this relationship.

• Nuclear Engineering and Technology
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• v.51 no.6
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• pp.1540-1553
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• 2019

A nuclear power plant (NPP) is a highly complex system-of-systems as manifested through its internal systems interdependence. The negative impact of such interdependence was demonstrated through the 2011 Fukushima Daiichi nuclear disaster. As such, there is a critical need for new strategies to overcome the limitations of current risk assessment techniques (e.g. the use of static event and fault tree schemes), particularly through simulation of the nonlinear dynamic feedback mechanisms between the different NPP systems/components. As the first and key step towards developing an integrated NPP dynamic probabilistic risk assessment platform that can account for such feedback mechanisms, the current study adopts a system dynamics simulation approach to model the thermal dynamic processes in: the reactor core; the secondary coolant system; and the pressurized water reactor. The reactor core and secondary coolant system parameters used to develop system dynamics models are based on those of the Palo Verde Nuclear Generating Station. These three system dynamics models are subsequently validated, using results from published work, under different system perturbations including the change in reactivity, the steam valve coefficient, the primary coolant flow, and others. Moving forward, the developed system dynamics models can be integrated with other interacting processes within a NPP to form the basis of a dynamic system-level (systemic) risk assessment tool.

• Journal of Digital Convergence
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• v.17 no.1
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• pp.141-148
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• 2019

The advancement of digital technology accelerates intelligence, convergence, and demands better change beyond traditional methods in all aspects of business models and technologies, infrastructure, processes, and platforms. Risk management is becoming more important because of various security risks, depending on the changing business environment and aligned to business goals is emerging from the existing information asset based risk management. For business aligned risk management, it is essential to understand the risk appetite for achieving business goals, which provides a basis for decision-making in subsequent risk management processes. In this paper, we propose a framework for analyzing the risk management framework, pre - existing risk analysis, and protection motivation theory that influences decisions on security risk management. To examine the practical feasibility of the developed risk appetite framework, we reviewed the applicability and significance of the proposed risk appetite framework through an advisory committee composed of security risk management specialists.

• Journal of Environmental Health Sciences
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• v.42 no.5
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• pp.345-351
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• 2016

Objectives: The objective of this study was to conduct risk assessment using indoor radon concentration and exposure times. Methods: The target facilities were military facilities before and after the application of radon reduction processes and underground commercial facilities in major subway stations in Seoul. Indoor radon concentrations were measured by passive sampler. Results: Radon concentrations in 13 military facilities were initially higher than the guidelines, but the levels were below guidelines after the application of radon reduction processes. Underground shopping mall radon concentrations near subway stations in Seoul satisfied the guidelines. However, indoor radon effective doses after radon reduction processes in some military facilities and those in underground shopping malls belonged to International Commission on Radiological Protection (ICRP) groups needing control management. Conclusion: Indoor radon management requires risk assessment data that takes into account working time (or residence time) in addition to management according to concentration guidelines.

• Proceedings of the Korean Geotechical Society Conference
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• 2009.03a
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• pp.444-455
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• 2009

Great concerns on geotechnical risk & hazard assessment have been increased due to human and economic damage by natural disasters with recent global climate changes. In this paper, geotechnical problems in particular, landslides which is interested in European countries and North America, were mainly discussed. For these, 18 key topics on geotechnical risk and hazards which had been discussed at the LARAM 2008 workshop in Italy were analyzed after grouping by subjects. Main topic contents consisted of applications such as field measurement, early warning systems, uncertainty analysis of parameters using radar, optical data and statistical theory and so on. And the problems related to analysis of vulnerability and deformation due to earthquakes, investigation of gas zone using seismic reflection data in a landslide area, risk quantification and hazard assessment of landslide movements and multi-dimensional analysis for stability of complex slopes were attracted. Also, there were studies on risk matters of cultural heritage, the blockglide of clayey ground, simulations of debris flows based on GIS, quantification of the failure processes of rock slopes, a meshless method for 3D crack modelling, and finally risk assessment for cryological processes due to global warming.

• Journal of the Korean Society of Fisheries and Ocean Technology
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• v.60 no.2
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• pp.161-169
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• 2024

This study employs Bayesian network analysis to quantitatively evaluate the risk of incidents in trap boats, utilizing accident compensation approval data spanning from 2018 to 2022. With a dataset comprising 1,635 incidents, the analysis reveals a mortality risk of approximately 0.011 across the entire trap boat. The study significantly identifies variations in incident risks contingent upon fishing area and fishing processes. Specifically, incidents are approximately 1.22 times more likely to occur in coastal compared to offshore, and the risk during fishing processes outweighs that during maintenance operations by a factor of approximately 23.20. Furthermore, a detailed examination of incident types reveals varying incidence rates. Trip/slip incidents, for instance, are approximately 1.36 times more prevalent than bump/hit incidents, 1.58 times more than stuck incidents, and a substantial 5.17 times more than fall incidents. The study concludes by providing inferred mortality risks for 16 distinct scenarios, incorporating fishing areas, processes, and incident types. This foundational data offers a tailored approach to risk mitigation, enabling proactive measures suited to specific circumstances and occurrence types in the trap boat industry.

• Environmental Analysis Health and Toxicology
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• v.10 no.1_2
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• pp.21-35
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• 1995

Risk assessment processes, which include processes for the estimation of human cancer potency using animal bioassay data and calculation of human exposure, entail uncertainties. In the exposure assessment process, exposure scenarios with various assumptions could affect the exposure amount and excess cancer risk. We compared risk estimates among various exposure scenarios of vinyl chloride, trichloroethylene and tetrachloroethylene in tap water. The contaminant concentrations were analyzed from tap water samples in Seoul from 1993 to 1994. The oral and inhalation cancer potencies of the contaminants were estimated using multistage, Weibull, lognormal, and Mantel-Bryan model in TOX-RISK computer software. In the first case, human excess cancer risk was estimated by the US EPA method used to set the MCL(maximum contaminant level). In the second and third case, the risk was estimated for multi-route exposure with and without adopting Monte-Carlo simulation, respectively. In the second case, exposure input parameters and cancer potencies used probability distributions, and in the third case, those values used point estimates(mean, and maximum or 95% upper-bound value). As a result, while the excess cancer risk estimated by US EPA method considering only direct ingestion tended to be underestimated, the risk which was estimated by considering multi-route exposure without Monte-Carlo simulation and then using the maximum or 95% upper-bound value as input parameters tended to be overestimated. In risk assessment for volatile organic compounds, considering multi-route exposure with adopting Monte-Carlo analysis seems to provide the most reasonable estimations.