• Korean Journal of Construction Engineering and Management
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• v.11 no.2
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• pp.3-14
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• 2010

A high degree of management skills and functions is essential to the success of construction projects. While the various construction management delivery methods have been realized as the solutions, Korean government is planning to introduce 'CM at Risk Method' to the public construction projects. However, even if its effect has been verified successful in the international market, it must be considered before legally adapting the method that it would be suitable to our public sector, In this respect, the purpose of this study is to evaluate and analyze feasibility of 'CM at Risk Method'. In order to do that, 15 attributes of construction projects were found, which were suitable to 'CM at Risk Method' in general, 'CM at Risk-GMP Method', and 'CM at Risk-Cost Reimbursable Method' and suitability of each attribute to each of 9 categories of public construction facilities was evaluated by questionnaire survey to CM specialists. Results showed that 'CM at Risk Method' might not bring improper effect to the industry but due to the characteristic of public sector, the effect would be very limited.

• Journal of the Ergonomics Society of Korea
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• v.31 no.1
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• pp.143-149
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• 2012

Objective: The aim of this study is to gain an overview of the risk assessment and management system in the shipbuilding industry. Background: The use of risk assessment techniques has grown significantly in recent years. Method: Various references have been reviewed to evaluate risk assessment and management policy. Results: Adapting the risk assessment system has become an important approach not only to prevent industrial accidents but also to enhance the efficiency of works for shipbuilding workers. Conclusion: Risk assessment is an approved technology for operators to address larger hazards, and to ensure risks have been reduced to appropriate levels cost effectively. Application: These results can be used to provide baseline information for risk assessment and management policy.

• 한국경영정보학회:학술대회논문집
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• 2007.06a
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• pp.339-344
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• 2007

In the cut-throat competitive environment of business, large-scale IS investment is becoming inevitable strategic necessity for gaining competitive advantage. However. it bears great deal of risk over all the associated processes so that the investment decisions need to be taken in a greatly careful manner. Nonetheless, Korean organizations are prominently showing risk taking behaviors regarding major is investment, in terms of system downsizing. Although decision theory argues decision makers' rational choice of options through the assessment of risk and benefit, the notable trend toward system downsizing in Korea defies common understandings on IS project risk. Furthermore, it encourages us to investigate many impenetrable characteristics underlying organizational risk taking decisions with IS investment. We found out that there is Significant effect of IS decision makers' risk propensity when they make system downsizing decisions. Moreover. we Identified that IS decision makers do not get a strong pressure of cost savings and have tendencies to mimic competitor's decisions.

• Journal of Korean Academy of Nursing
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• v.41 no.2
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• pp.204-213
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• 2011

Purpose: This study was done to identify fundamental data on competency reinforcement programs to prevent adolescent risk behavior by developing and examining a competency model. Methods: In this study, competences on prevention of adolescent risk behavior were identified through competency modeling, and a competency model was developed and tested for validity. Results: Competences for prevention of adolescent risk behavior defined by the competency model included the following: self-control, positive mutual understanding between parents and adolescents, and positive connectedness with peer group. Validation of the competency model showed the model to be appropriate. Conclusion: The competency model for prevention of adolescent risk behavior through competency modeling is expected to be the foundation of an integral approach to enhance competency in adolescents and prevent adolescent risk behavior. This kind of approach can be a school-centered, cost-efficient strategy, which not only reduces adolescent risk behavior but also improves quality of adolescent resources.

• 제어로봇시스템학회:학술대회논문집
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• 1995.10a
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• pp.444-447
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• 1995

The satellite in a circular orbit about a planet with disturbances and a three-degree-of-freedom (3DOF) structure under seismic excitations are modeled by the linear stochastic differential equations. Then the risk-sensitive optimal control method is applied to those equations. The mean and the variance of the cost function varies with respect to the risk-sensitivity parameter, .gamma.$_{RS}$ . For a particular risk-sensitivity parameter value, risk-sensitive control reduces to LQG control. Furthermore, the derivation of the mean square value of the state and control action are given for a finite-horizon full-state-feedback risk-sensitive control system. The risk-sensitive controller outperforms a classical LQG controller in the mean square sense of the state and the control action.

• Journal of Electrical Engineering and Technology
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• v.9 no.3
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• pp.789-795
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• 2014

In a demand response (DR) market run by independent system operators (ISOs), load aggregators are important market participants who aggregate small retail customers through various DR programs. A load aggregator can minimize the allocation cost by efficiently allocating its demand response resources (DRRs) considering retail customers' characteristics. However, the uncertain response behaviors of retail customers can influence the allocation strategy of its DRRs, increasing the economic risk of DRR allocation. This paper presents a risk-based DRR allocation method for the load aggregator that takes into account not only the physical characteristics of retail customers but also the risk due to the associated response uncertainties. In the paper, a conditional value-at-risk (CVaR) is applied to deal with the risk due to response uncertainties. Numerical results are presented to illustrate the effectiveness of the proposed method.

• International conference on construction engineering and project management
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• 2015.10a
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• pp.4-5
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• 2015

Owning to rapid infrastructure development, Asia is experiencing dramatic economic growth. There are not a few cases in which, however, economic growth is achieved by increasing the external diseconomy. Pursuit of sustainable development is one of the most important issues for mankind. Under the post-industrial capitalism society, however, there seems a big risk of increase in the external diseconomy worldwide. The objectives of this manuscript are to discuss importance of risk management of construction practice in present and future. Regarding the latter, a particular attempt is made to discuss how project risk communication should be done to reduce the external diseconomy. Presently, one of the important issues in implementation of infrastructure projects is practice of risk management to properly manage time, cost, quality, and safety: mainly maximization of internal economy. Multi-party risk and uncertainty management process (MRUMP) is one of tolls to assist it. The idea on MRUMP can be used to reduce the external diseconomy through identifying, sharing, and tuning people's rhythms.

• 한국ITS학회:학술대회논문집
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• 2010.05a
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• pp.210-213
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• 2010

• Journal of Integrative Natural Science
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• v.9 no.3
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• pp.206-214
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• 2016

The basic goal of software development is to produce high quality software at low cost. Therefore, when to stop software testing and release the software product is a significant point in the software development. The software cost model is an effective tool used to help software developers control costs and determine the release time. In this paper, we discuss the cost model to apply all 6 models with consideration of time to remove errors, cost of removing each error and risk cost due to software failure. We show the impact of cost coefficients and parameter values on the expected total cost by changing the values and comparing the optimal release times.

• Communications for Statistical Applications and Methods
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• v.27 no.6
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• pp.689-699
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• 2020

This study investigates the effect of life settlement on the monopolistic insurance market. In particular, we consider liquidity cost, which is the cost incurred to the insurer to meet the request of surrender, and trading cost, which is the transaction cost of the policyholders for the settlement. We first show that the introduction of a life settlement can increase insurance demand and enhance consumer welfare even when the trading cost is higher than the liquidity cost. That is, even if the settlement market is less efficient than the insurance market, both insurance demand and consumer welfare can be increased. Second, the insurer's profit can also be increased when settlement is introduced because not only can the insurer save the liquidity cost but also the demand of insurance increases. Lastly, insurance demand does not always decrease when both costs increase. Depending on the population distribution over the liquidity risk, the demand of insurance can be increased or decreased.