• Journal of Aerospace System Engineering
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• v.12 no.5
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• pp.76-88
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• 2018

Space agencies such as NASA, ESA, and the US military provide guidelines and standards for PA(product assurance) requirements and plans. In recent years, major satellite manufacturers around the world have been mitigating PA requirements and processes by tailoring. PA tailoring has been implemented to improve the cost and schedule efficiency. PA tailoring can be accomplished based on various factors such as mission, classification of mission risk, complexity, development cost, life cycle, etc. In this study, PA tasks according to the mission risk classification proposed by NASA are investigated, and the tailoring method is suggested for the optimization of the development cost and schedule. In particular, the classification of mission risk for the satellites under development or operation in Korea is performed, and PA characteristics in accordance with mission risk are analyzed.

• Journal of the Korean Data and Information Science Society
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• v.19 no.4
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• pp.1027-1036
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• 2008

Value at Risk(VaR) is a fundamental tool for managing market risks. It measures the worst loss to be expected of a portfolio over a given time horizon under normal market conditions at a given confidence level. Calculation of VaR frequently involves estimating the volatility of return processes and quantiles of standardized returns. In this paper, we introduced and applied the CreditMetrics model to estimate the credit VaR of Korean Property and Casuality insurers.

• Journal of the Korean Society of Safety
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• v.10 no.1
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• pp.56-63
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• 1995

Two methods of the numerical method of CPQRA(Chemical Process Quantitative Risk Analysis) and the manual method of IAEA(International Atomic Energy Agency) were used to estimate the individual risk and societal risk around the chemical plant. Where, the CPQRA is introduced to verify the theoritical background of the manual of international atomic energy agency. The Gaussian plume model which has a weather stability class D with velocity of 5m/s was applied to calculate dispersion of hazard material. Also, 8-point method was employed to the effects of accidents for wind distribution. Furthermore, historical record, FTA(Fault Tree Analysis) and ETA(Event Tree Analysis) were used to estimate the probability or frequency of accidents. Eventually, the individual risk shows isorisk contour and the societal risk shows F-N curve around hazard facility, especially in chemical plants. Caulculated results, which both individual and societal risk, by using IAEA manual show simillar results to those of calculation by numerical method of CPQRA.

• Environmental and Resource Economics Review
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• v.9 no.4
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• pp.747-771
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• 2000

This paper reports the results of a study to elicit willingness to pay (WTP) for changes in health risks from exposure to As, Pb, THM in tap water using experimental market method. The experimental market method, compared with other non-market valuation methods, allows us to use incentive compatible demand revealing scheme, to acquire market-like experience through repetitive auctions, and to incorporate learning process by providing new information during the session. Participants seemed to utilize the objective risk information in a 'rational' manner, and to change their WTP bids accordingly. Moreover they were able to reduce the 'ambiguity' in risk perception processes when objective risk probabilities provided are quite different from their subjective perceptions. Nonetheless, anchoring effects appeared to be still persistent in spite of market-like experience and learning opportunity. And implicit values entailed by WTP bid/risk tradeoffs indicate a wide variation in values across alternative risk reductions and overrated responses to very small risk reductions.

• Journal of Korean Tunnelling and Underground Space Association
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• v.14 no.6
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• pp.667-681
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• 2012

In general, risk management consists of a series of processes or steps including risk identification, risk analysis, risk evaluation, risk mitigation measures, and risk re-evaluation. In this paper, potential risk factors that occur in shield TBM tunnels were investigated based on many previous case studies and questionaries to tunnel experts. The risk factors were classified as geological, design or construction management features. Fault Tree was set up by dividing all feasible risks into four groups that associated with: cutter; machine confinement; mucking (driving) and segments. From the Fault Tree Analysis (FTA), 12 risk items were identified and the probability of failure of each chosen risk item was obtained.

• Journal of the Korea institute for structural maintenance and inspection
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• v.22 no.1
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• pp.64-71
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• 2018

Project Management Institute of America separates the types of risk with external risks and internal risks. The external risk is an uncontrollable risk in projects such as changes of policy and related systems, climate, natural disasters, exchange rates and so on. The internal risk is an existing risk in the project itself that is controllable items in the project. Technical risks in project management are cost, quality, time, safety and environment. Therefore, both the external and internal risks should be managed to perform the construction project successfully. In particular, we can secure the quality and safety of facilities through the technical risk management. The importance of potential risk management has been emerging as a major interest and the lack of risk management delays projects and increases construction costs with negative effects of the building safety since the complex building, which is composed of a great number of facilities, consists of many project units and there are conflicts between various participants and stake-holders. This study presents the ways of establishing risk management processes to ensure the safety of the complex building. To that end, establishing procedure of risk management processes is presented and types of risk and factors in construction projects and counter strategies are presented as available risk information on the stages.

• Journal of Environmental Health Sciences
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• v.36 no.5
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• pp.391-401
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• 2010

A reduction in risk of occupational exposure to chemical hazards within the workplace has been the focus of attention both through industry initiatives and legislation. The aims of this study were to develop an exposure matrix by industry and process, and to apply this matrix to control the risk of occupational exposure to Dichloromethane (DCM). The exposure matrix is a tool to convert information on industry and process into information on occupational risk. The exposure matrix comprised industries and processes involving DCM, based on an exposure database provided by KOSHA (the Korean Occupational Safety and Health Agency), which was gathered from a workplace hazards evaluation program in Korea. The risk assessment of the exposure matrix was performed using Hallmark risk assessment tool. The results of the risk assessment were indicated by a Danger Value (DV) calculated from the combination of hazard rating (HR), duration of use rating (DUR), and risk probability rating (RPR) of exposure to the chemical, and were divided into four control bands which were related to control measures. The applicability of the risk assessment of the exposure matrix was evaluated by a field study, and survey of the employees of the exposure matrix groups. Among 45 industries examined, this study found that greater attention should be paid to two industries: the manufacture of other optical instruments and photographic equipment, and the manufacture of printing ink, and to one process among 47 examined, the packing process in the manufacture of printing ink, because these were regarded as carrying the highest risk. This tool of a risk assessment for the exposure matrix can be applied as a general exposure information system for hazard control, risk quantification, setting the occupational exposure limit, and hazard surveillance. The exposure matrix includes workforce data, and it provides information on the numbers of exposed workers in Korea by agent, occupation, and level of exposure and risk.

• Journal of Information Technology Services
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• v.4 no.1
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• pp.129-139
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• 2005

This paper proposes a framework of Operational Risk-based Business Continuity System(ORBCS), and develops protection system for operational risk through operational risk assessment and loss distribution approach based on risk management guideline announced in the basel II. In order to find out financial operational risk, business processes of domestic bank are assorted by seven event factors and eight business activities so that we can construct the system. After we find out KRI(Key Risk Indicator) index, tasks and risks, we calculated risk possibility and expected cost by analyzing quantitative data, questionnaire and qualitative approach for AHP model from the past events. Furthermore, we can assume unexpected cost loss by using loss distribution approach presented in the basel II. Each bank can also assume expected loss distributions of operational risk by seven event factors and eight business activities. In this research, we choose loss distribution approach so that we can calculate operational risk. In order to explain number of case happened, we choose poisson distribution, log-normal distribution for loss cost, and estimate model for Monte-Carlo simulation. Through this process which is measured by operational risk. of ABC bank, we find out that loss distribution approach explains closer unexpected cost directly compared than internal measurement approach, and makes less unexpected cost loss.

• Journal of the Korean Society of Safety
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• v.23 no.4
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• pp.72-78
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• 2008

In any form of construction work, it is essential that accidents be prevented at every stage from foundation preparation to build completion. For this, it is necessary to use models that can assess risk and provide instruction for safe work processes so that the risk of accidents is reduced. Currently, however, very few models can perform these tasks. In this paper, we presents a model that assesses risk quantitatively by analyzing risk factors involved in stage of construction such as foundation work, erection work, structural work, equipment work, finishing work and etc work. The model performs assessment based on examples of accidents and by investing actual conditions during construction. In addition, we presents in this paper a safety management system was developed to assess risk during construction and to effectively train laborers.

• International Commerce and Information Review
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• v.9 no.4
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• pp.107-125
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• 2007

With the rapidly increasing of Korean enterprises, the importance of foreign exchange(FX) risk management for the future operation generated from FDI contract is becoming the critical problem of international business. This type of FX risk, called as "economic exposure risk", requires us of the unique risk management principles and techniques. In this paper, we identify the properties of economic exchange rate exposure, analyze the identification and measurement processes of risk sources and strength, and perform the estimation of the main determinants and its profile effects of the invoicing currency for the efficient management of economic FX exposure.