• Journal of the Korea Institute of Building Construction
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• v.7 no.1 s.23
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• pp.63-70
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• 2007

The aims of this study are to draw the project risk factors by grasping the relation especially between the construction preparation cost calculation and the project risk factors in the project's bidding stage, and to draw the cost estimate based on the risk when the orderer or the constructer performs the project and the main factors in calculating the most suitable construction cost by clarifying the understanding degree of the influence between the risk factors and the construction cost. In addition, this study can give a help to the proper decision -making through the prediction of the construction preparation cost, and this study is expected to give the basic data in developing the assessment tool for the most suitable construction cost of the project.

• Proceedings of the Korean Operations and Management Science Society Conference
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• 2003.11a
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• pp.159-165
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• 2003

The objective of this paper is to provide an improved reorder decision policy for general multi-echelon distribution systems utilizing the shared stock information. Since it has been known that traditional reorder policies sometimes show poor performance in distribution systems, in our previous research we introduced the order risk policy which utilizes the shared stock information more accurately f3r the 2-echelon distribution system and proved the optimality. However, since the real world supply chain is generally composed with more than 2 echelons, we extend the order risk policy for the general multi-echelon systems. Since the calculation of the exact order risk value fur general multi-echelon systems is very complex, we provide two approximation methods. Through the computational experiment comparing the order risk policy with the existing policies under various conditions, we show the performance of the order risk policy and analyze the value of the shared stock information varying with the characteristics of the supply chain.

• Journal of the Korea Institute of Military Science and Technology
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• v.12 no.3
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• pp.309-316
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• 2009

The risk management is a method to identify and to handle risk factors. In this paper, we introduce a methodology that can be used to measure of system's performance risk by combining system's TPM(technical performance measures) in the R&D(research and development) program for defense acquisition. By applying the suggested procedure, we can monitor risk trends in R&D program by calculation of system's overall TPM and find out where management should target to reduce or remove the system's performance risk.

• Proceedings of the Korean Institute of Navigation and Port Research Conference
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• 2013.10a
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• pp.387-389
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• 2013

In order to determine the collision risk, the probability estimation is very important part for accurate risk estimation. Recently, the collision risk at the Busan North Port is studied for making the risk map by authors. The result has been found some connections with previous collision places. For more precise estimation, the probability calculation is necessary. Recently the Bayesian matrix is mainly used for calculating the probabilities. Also considering the oil spill risk with tankers, ships' speed, relative angle and ships' size are key aspect whether breaking the double hull or not. This research presents the way of estimating the probabilities not her research and also the collision risk probability considerations for small divided areas.

• 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.

• Journal of the Korean Society of Marine Environment & Safety
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• v.24 no.3
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• pp.302-310
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• 2018

Despite the accident rate for fishing vessels accounts for 70% of all maritime accidents, few studies on such accidents have been done and most of the them mainly focus on causes and mitigation policies to reduce that accident rate. Thus, this risk analysis on sea accidents is the first to be performed for the successful and efficient implementation of accident reducing measures. In risk analysis, risk is calculated based on the combination of frequency and the consequence of an accident, and is usually expressed as a single number. However, there exists uncertainty in the risk calculation process if one uses a limited number of data for analysis. Therefore, in the study we propose a probabilistic simulation method to forecast risk not as a single number, but in a range of possible risk values. For the capability of the proposed method, using the criteria with the ALARP region, we show the possible risk values spanning across the different risk regions, whereas the single risk value calculated from the existing method lies in one of the risk regions. Therefore, a decision maker could employ appropriate risk mitigation options to handle the risks lying in different regions. For this study, we used fishing vessel accident data from 1988 to 2016.

• Journal of Environmental Impact Assessment
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• v.27 no.2
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• pp.194-202
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• 2018

Health impact assessment in South Korea is carried out within the framework of Environmental Impact Assessment (EIA). And, public health and hygiene items in EIA as an evaluation of health impact items were designed to calculate the emission level of hazardous air pollutants from specific development projects, and the exposure concentration at major sites, and to assess the health risk associated with these projects. But, the assessment of the receptor characteristics around the development project is limitedly considered. The purpose of this study is to propose the method of calculation of potential exposed population and the use of it for public health and hygiene items in EIA. The data for the calculation of potential exposed population in South Korea were identified. And the calculation algorithm based on them was proposed. After that, in a development of industrial complex, a case analysis was carried out assuming the release of hazardous air pollutants. This study suggested that the concept of population risk should be applied in risk assessment utilizing the potential exposed population and as a future study, a standard of assessment of health effects for population risk should be established. Finally, the possibility of using this study as a location-limiting tool for the development project was presented through the method of calculating the potential exposed population. It is meaningful that this study presented a method for performing risk assessment from the perspective of receptors around a development project.

• Journal of the Korean Society of Marine Environment & Safety
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• v.22 no.3
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• pp.259-267
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• 2016

The study performs a risk analysis on container ship accidents using accident data collected over the six years from 2006 to 2011, presents the resulting risk level, and suggests three risk mitigation measures to reduce the overall risk, for the safer operation of container ships. More specifically, starting from the initial accident of collision, we developed 13 different accident scenarios using event tree analysis based on which the overall risk level was obtained and presented as a FN curve. Since diverse human factors are the main cause of most of the ship accidents, our study focuses on the effect of reducing human causes on the resulting risk level. For the research we considered the injuries for the calculation of fatality with the help of MAIS. The results show that collision was the main type of accident, accounting for 62 % of all accidents, and the measures employed were proven to be effective in the sense that the risk level was much lowered and the average number of fatalities was also reduced. With more data accumulated, more precise risk level will be calculated with which the practical risk mitigating measures will be also developed. For future study, economic loss and environmental damage as consequences need to be considered.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.5
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• pp.839-850
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• 2021

Risk-adjusted return is believed to be one of the optimal parameters to determine an optimum portfolio. A risk-adjusted return is a calculation of the profit or potential profit from an investment that takes into account the degree of risk that must be accepted to achieve it. This paper presents a new procedure in portfolio selection and utilizes these results to optimize the risk level of risk-adjusted Islamic stock portfolios. It deals with the weekly close price of active issuers listed on Jakarta Islamic Index Indonesia for a certain time interval. Overall, this paper highlights portfolio selection, which includes determining the number of stocks, grouping the issuers via technical analysis, and selecting the best risk-adjusted return of portfolios. The nominated portfolio is modeled using Quadratic Programming (QP). The result of this study shows that the portfolio built using the lowest Value at Risk (VaR) outperforms the market proxy on a risk-adjusted basis of M-squared and was chosen as the best portfolio that can be optimized using QP with a minimum risk of 2.86%. The portfolio with the lowest beta, on the other hand, will produce a minimum risk that is nearly 60% lower than the optimal risk-adjusted return portfolio. The results of QP are well verified by a heuristic optimizer of fmincon.

• The KSFM Journal of Fluid Machinery
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• v.16 no.2
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• pp.42-47
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• 2013

Ship stability prediction is very complex in reality. In this paper, risk based approach is applied to predict the probability of a certified ship, which is effected by the forces of sea especially the wave loading. Safety assessment and risk analysis process are also applied for the probabilistic prediction of ship stability. The survival probability of ships encountering with different waves at sea is calculated by the existed statistics data and risk based models. Finally, ship capsizing probability is calculated according to single degree of freedom(SDF) rolling differential equation and basin erosion theory of nonlinear dynamics. Calculation results show that the survival probabilities of ship excited by the forces of the seas, especially in the beam seas status, can be predicted by the risk based method.